ALCU Industries Private Limited, a wholly owned subsidiary of Vidya Wires Limited , has received an assessment order from the Income Tax Department raising a demand of ₹1,75,77,666. The order, dated May 28, 2026, covers the block period from April 1, 2018, to March 31, 2025, and was issued by the Office of the Deputy Commissioner of Income Tax, Central Circle-3, Vadodara.

The assessment was passed under Section 158B(c)(1) read with Section 143(3) of the Income Tax Act, 1961. The demand arises from certain additions and the disallowance of specific expenditures under various sections of the Act identified during the assessment proceedings.

Details of the Assessment Order

The communication was received by the subsidiary on May 28, 2026. The following table outlines the key particulars of the order:

Company Response and Impact

Vidya Wires disclosed that it intends to file an appeal against the assessment order. The company stated that it does not expect any material impact on its financials, operations, or other activities as a result of the said order. No penalties or restrictions were imposed pursuant to the communication.

Vidya Wires Limited announced its audited Standalone and Consolidated Financial Results for the quarter and year ended March 31, 2026. The Board of Directors approved the results at its meeting held on May 12, 2026. On a consolidated basis, the company reported a significant improvement in profitability for the quarter, with net profit rising to ₹196.12 million compared to ₹126.85 million in the same period last year. Consolidated revenue from operations for the quarter stood at ₹5,987.81 million, a substantial increase from ₹3,796.20 million in the prior year period. The company subsequently held an earnings call on May 14, 2026, to discuss the results.

Consolidated Financial Performance

For the full year ended March 31, 2026, the company recorded a consolidated net profit of ₹576.55 million, up from ₹405.58 million in the prior year. Total consolidated income for the year increased to ₹18,482.47 million from ₹14,858.29 million. The consolidated earnings per share (EPS) for the year improved to ₹2.71 from ₹2.53 in the previous year. The following table summarises the key consolidated financial metrics:

Standalone Financial Performance

On a standalone basis, Vidya Wires reported Q4 FY26 net profit of ₹218.04 million, compared to ₹127.70 million in Q4 FY25. Standalone revenue from operations for the quarter stood at ₹5,888.51 million versus ₹3,796.20 million in the year-ago period. For the full year, standalone net profit rose to ₹600.96 million from ₹410.54 million, while total standalone income increased to ₹18,404.22 million from ₹14,846.57 million. Standalone basic and diluted EPS for the year improved to ₹2.82 from ₹2.56.

Operational Highlights and Guidance

During the earnings call, management highlighted that the company has commenced manufacturing at its new subsidiary, ALCU Industries, starting February 7, 2026. The facility is currently in a phased ramp-up period, having produced approximately 800 metric tons in Q4 FY26. The company plans to scale up capacity to 36,000 metric tons by Diwali 2026. Management expects the new specialized product categories, such as aluminium enamelled wires and PV round ribbon, to improve EBITDA margins per metric ton. The company also noted that it has utilized INR100 crores of IPO proceeds to repay working capital borrowings, reducing its interest burden.

Balance Sheet Highlights

On a consolidated basis, total assets stood at ₹6,055.23 million as at March 31, 2026, compared to ₹3,313.16 million as at March 31, 2025. Total equity increased significantly to ₹4,798.29 million from ₹1,662.79 million, reflecting the capital raised through the IPO. Cash and cash equivalents on a consolidated basis stood at ₹726.07 million versus ₹7.48 million in the prior year.

IPO Proceeds Utilisation

The company provided an update on the utilisation of its Initial Public Offering (IPO) proceeds as on March 31, 2026. The equity shares of the company were listed on BSE Limited and National Stock Exchange of India Limited with effect from December 10, 2025, pursuant to an IPO of 57.69 million equity shares of face value of ₹1.00 each at a price of ₹52 per share, aggregating to ₹3,000.05 million.