Vinayak Polycon FY26 Net Profit Falls 77% to Rs 5.18 Lakhs; Files Newspaper Cuttings
Vinayak Polycon International reported a sharp 77% decline in FY26 net profit to Rs 5.18 lakhs from Rs 22.48 lakhs in FY25, as total income fell to Rs 1,993.14 lakhs. Q4 FY26 recorded a net loss of Rs 5.85 lakhs. The company subsequently filed newspaper cuttings of its audited financial results published in Financial Express and Jansatta with BSE Limited on May 16, 2026, fulfilling its obligations under SEBI Regulation 33.

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Vinayak Polycon International Limited's Board of Directors approved the audited standalone financial results for the quarter and year ended March 31, 2026. The meeting, held on May 15, 2026, commenced at 11:30 A.M. and concluded at 11:52 A.M. Statutory auditors M/s A. Natani & Co., Chartered Accountants, issued an unmodified opinion on the results. Subsequently, on May 16, 2026, the company submitted to BSE Limited the newspaper cuttings of the published extract of its audited financial results, as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were published in Financial Express (English) and Jansatta (Hindi), both dated May 31, 2026. The submission was signed by Shikha Natani, Company Secretary & Compliance Officer (Membership No.: 45901).
Annual Financial Performance: FY26 vs FY25
For the full financial year ended March 31, 2026, the company reported a decline across key income and profitability metrics compared to the previous year. Total income fell to Rs. 1,993.14 lakhs from Rs. 2,119.74 lakhs in FY25, while net profit declined sharply to Rs. 5.18 lakhs from Rs. 22.48 lakhs. The following table summarises the annual financial performance:
| Metric: | FY26 (Audited) | FY25 (Audited) |
|---|---|---|
| Revenue from Operations: | Rs. 1,989.98 lakhs | Rs. 2,117.09 lakhs |
| Other Income: | Rs. 3.16 lakhs | Rs. 2.65 lakhs |
| Total Income: | Rs. 1,993.14 lakhs | Rs. 2,119.74 lakhs |
| Cost of Material Consumed: | Rs. 1,193.61 lakhs | Rs. 1,289.47 lakhs |
| Employee Benefits Expense: | Rs. 243.44 lakhs | Rs. 234.59 lakhs |
| Finance Costs: | Rs. 22.69 lakhs | Rs. 31.83 lakhs |
| Depreciation & Amortization: | Rs. 57.69 lakhs | Rs. 68.53 lakhs |
| Other Expenses: | Rs. 467.39 lakhs | Rs. 461.28 lakhs |
| Total Expenses: | Rs. 1,979.45 lakhs | Rs. 2,089.48 lakhs |
| Profit Before Tax: | Rs. 13.69 lakhs | Rs. 30.26 lakhs |
| Current Tax: | Rs. 7.12 lakhs | Rs. 14.41 lakhs |
| Deferred Tax: | Rs. 1.39 lakhs | Rs. -6.63 lakhs |
| Net Profit: | Rs. 5.18 lakhs | Rs. 22.48 lakhs |
| Basic EPS (Face Value Rs. 10/-): | Rs. 0.17 | Rs. 0.73 |
| Diluted EPS (Face Value Rs. 10/-): | Rs. 0.17 | Rs. 0.73 |
Quarterly Performance: Q4 FY26
For the quarter ended March 31, 2026, the company reported a net loss of Rs. 5.85 lakhs, compared to a net profit of Rs. 9.24 lakhs in Q4 FY25 and a net profit of Rs. 1.35 lakhs in Q3 FY26 (quarter ended December 31, 2025). Total income for Q4 FY26 stood at Rs. 510.31 lakhs. The quarterly comparison is presented below:
| Metric: | Q4 FY26 (31.03.2026) | Q3 FY26 (31.12.2025) | Q4 FY25 (31.03.2025) |
|---|---|---|---|
| Revenue from Operations: | Rs. 507.15 lakhs | Rs. 468.48 lakhs | Rs. 511.80 lakhs |
| Other Income: | Rs. 3.16 lakhs | — | Rs. 2.46 lakhs |
| Total Income: | Rs. 510.31 lakhs | Rs. 468.48 lakhs | Rs. 514.26 lakhs |
| Total Expenses: | Rs. 508.51 lakhs | Rs. 467.77 lakhs | Rs. 504.92 lakhs |
| Profit Before Tax: | Rs. 1.80 lakhs | Rs. 0.71 lakhs | Rs. 9.34 lakhs |
| Net Profit/(Loss): | Rs. -5.85 lakhs | Rs. 1.35 lakhs | Rs. 9.24 lakhs |
| Basic EPS (Rs.): | -0.19 | 0.04 | 0.30 |
| Diluted EPS (Rs.): | -0.19 | 0.04 | 0.30 |
Balance Sheet Highlights as at March 31, 2026
The company's total assets grew to Rs. 1,006.54 lakhs as at March 31, 2026, from Rs. 874.73 lakhs as at March 31, 2025. Current assets increased significantly to Rs. 658.72 lakhs from Rs. 505.10 lakhs, driven by higher inventories, trade receivables, and cash and cash equivalents. Key balance sheet figures are as follows:
| Particulars: | March 31, 2026 | March 31, 2025 |
|---|---|---|
| Non-Current Assets: | Rs. 347.82 lakhs | Rs. 369.63 lakhs |
| Current Assets: | Rs. 658.72 lakhs | Rs. 505.10 lakhs |
| — Inventories: | Rs. 281.65 lakhs | Rs. 224.31 lakhs |
| — Trade Receivables: | Rs. 288.15 lakhs | Rs. 236.09 lakhs |
| — Cash & Cash Equivalents: | Rs. 40.67 lakhs | Rs. 2.56 lakhs |
| Total Assets: | Rs. 1,006.54 lakhs | Rs. 874.73 lakhs |
| Equity: | Rs. 506.14 lakhs | Rs. 500.96 lakhs |
| — Equity Share Capital: | Rs. 308.13 lakhs | Rs. 308.13 lakhs |
| — Other Equity: | Rs. 198.01 lakhs | Rs. 192.83 lakhs |
| Non-Current Liabilities: | Rs. 99.28 lakhs | Rs. 124.38 lakhs |
| Current Liabilities: | Rs. 401.12 lakhs | Rs. 249.39 lakhs |
| Total Equity & Liabilities: | Rs. 1,006.54 lakhs | Rs. 874.73 lakhs |
Cash Flow Summary for FY26
The company's cash flow statement for the year ended March 31, 2026 reflects a net cash outflow from operating activities of Rs. -32.29 lakhs, compared to a net inflow of Rs. 230.76 lakhs in FY25. Net cash used in investing activities stood at Rs. -38.95 lakhs, against Rs. -19.55 lakhs in FY25, primarily on account of fixed asset purchases of Rs. 42.71 lakhs. Financing activities generated a net inflow of Rs. 109.35 lakhs in FY26, compared to a net outflow of Rs. -214.73 lakhs in FY25, driven by a net increase in working capital borrowings of Rs. 161.50 lakhs. As a result, the closing balance of cash and cash equivalents rose to Rs. 40.67 lakhs from Rs. 2.56 lakhs at the start of the year.
Newspaper Publication and Regulatory Compliance
In compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company filed newspaper cuttings of the published extract of its audited financial results with BSE Limited on May 16, 2026. The results were published in Financial Express (English) and Jansatta (Hindi), both dated May 31, 2026. The filing was made under reference VPII/BSEL/2026-27/16052026. Statutory auditors M/s A. Natani & Co., Chartered Accountants (FRN No. 007347C), issued an unmodified opinion on the standalone financial results for the quarter and year ended March 31, 2026, conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013. The paid-up equity share capital of the company remained unchanged at Rs. 308.13 lakhs, comprising equity shares of Rs. 10 each. The full format of the financial results is available on the BSE website ( www.bseindia.com ) and the company's website ( www.vinayakpolycon.com ).
Historical Stock Returns for Vinayak Polycon International
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +8.30% | +13.11% | +0.79% | -14.34% | -1.13% | +201.90% |
What strategic measures is Vinayak Polycon International planning to reverse the ~77% decline in net profit and return to revenue growth in FY27?
Given the sharp rise in current liabilities from Rs. 249 lakhs to Rs. 401 lakhs driven by working capital borrowings, how sustainable is the company's debt position if operating cash flows remain negative?
With inventories and trade receivables both rising significantly while operating cash flow turned negative, what steps is management taking to improve working capital efficiency and collections?






























