W.S. Industries (India) Limited held its Board of Directors meeting on May 14, 2026, and approved the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The meeting, convened pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, commenced at 16:00 hrs and concluded at 17:30 hrs. The results were reviewed by the Audit Committee on the same date and subsequently approved by the Board. Statutory Auditors M/s. P. Chandrasekar LLP issued unmodified opinions on both the standalone and consolidated financial statements.

Auditor Appointments

Alongside the financial results, the Board approved key auditor appointments for the company. The following appointments were made at the meeting:

M/s. R. Subramanian and Company LLP, established in 1974, comprises 14 partners supported by around 150 professionals with offices in Chennai, Bangalore, Mumbai, Delhi, and Hyderabad, with expertise in audit & assurance, taxation, and corporate advisory services. M/s. Sudarshan & Ranganathan, established in 1988, comprises 3 partners supported by around 10 professionals with an office in Chennai, offering expertise in audit & assurance, taxation, and corporate advisory services.

Standalone Financial Performance

W.S. Industries reported a standalone net profit of ₹1.81 crores for the financial year ended March 31, 2026, a significant turnaround compared to a net loss of ₹15.27 crores in the previous financial year. Revenue from operations stood at ₹91.50 crores for the year, compared to ₹239.04 crores in the prior year. Total income for the year was ₹93.51 crores against ₹240.91 crores previously. The following table presents the key standalone financial metrics:

The company's paid-up equity share capital stood at ₹75.89 crores (face value ₹10 per share) as at March 31, 2026, compared to ₹63.38 crores in the previous year. Reserves excluding revaluation reserve were ₹430.44 crores as at March 31, 2026.

Standalone Balance Sheet Highlights

On a standalone basis, total assets grew to ₹625.65 crores as at March 31, 2026, from ₹495.82 crores as at March 31, 2025. Total equity increased significantly to ₹513.12 crores from ₹317.22 crores, driven by capital-raising activities during the year. Key balance sheet items are summarised below:

The standalone cash flow statement reflects net cash used in operating activities of ₹5.04 crores and net cash used in investing activities of ₹158.67 crores for the year ended March 31, 2026, while financing activities generated net cash inflows of ₹166.34 crores.

Consolidated Financial Performance

The consolidated results encompass W.S. Industries (India) Limited (Holding Company), WSI Falcon Infra Projects Private Limited (Subsidiary, 51% holding), and WSI-P&C Verticals Private Limited (Wholly Owned Subsidiary). On a consolidated basis, the group reported a net profit of ₹2.21 crores for the financial year ended March 31, 2026, compared to a net loss of ₹17.75 crores in the prior year. Consolidated revenue from operations was ₹91.50 crores against ₹239.04 crores previously, while total revenue stood at ₹95.64 crores versus ₹243.04 crores. Key consolidated financial metrics are as follows:

Consolidated total assets stood at ₹540.22 crores as at March 31, 2026, compared to ₹408.75 crores as at March 31, 2025. Total consolidated equity increased to ₹394.66 crores from ₹198.38 crores.

Capital-Raising Activities and Fund Utilisation

During FY 2025-26, the company undertook two preferential issues of equity shares and convertible warrants. Under the 1st Issue (commenced October 15, 2025), a total of ₹76.25 crores was raised against a proposed ₹245.00 crores, of which ₹62.31 crores was utilised and ₹13.94 crores remained unutilised. Under the 2nd Issue (commenced December 19, 2025), ₹111.93 crores was raised against a proposed ₹149.43 crores, of which ₹26.22 crores was utilised and ₹85.71 crores remained unutilised. During the year, the company also redeemed 9,25,000 Non-convertible Cumulative Redeemable Preference shares aggregating to ₹9.25 crores and partially redeemed 90,00,000 Non-convertible Debentures aggregating to ₹9 crores along with interest up to the date of redemption. Additionally, 1,866,222 unexercised convertible share warrants issued on September 5, 2024 were forfeited on March 4, 2026, aggregating to ₹6.97 crores.

Key Notes and Disclosures

The company noted that during FY 2022-23, long outstanding overseas creditors and debtors with credit balances pertaining to the discontinued Electro-porcelain products division amounting to ₹5.55 crores were written back; management is in the process of obtaining necessary approvals from competent authorities, and the impact, if any, is not ascertainable at this point. Exceptional items of ₹0.32 crores represent bad debts previously written off pertaining to the Turnkey Business Project Unit that were recovered during Q1 of FY 2025-26. The company operates primarily in the Infra segment and is not required to present segment information. The filing was signed by Chairman Seyyadurai Nagarajan (DIN: 07036078) and Company Secretary V. Balamurugan on behalf of W.S. Industries (India) Limited.

W.S. Industries (India) Limited has filed a revised disclosure under Regulation 30 of SEBI LODR Regulations following BSE's request for additional details regarding the Audit Committee's review of share transactions by Renaatus Procon Private Limited (RPPL) during a trading window closure period. The enhanced disclosure, submitted on 30th April 2026, provides complete particulars of the Designated Person and immediate relative information as requested by the exchange.

Transaction Details and Timeline

The matter involved RPPL's purchase of 2,000 equity shares between 6th April 2026 and 10th April 2026, coinciding with the trading window closure declared for approval of audited financial results for the financial year ended 31st March 2026.

Enhanced Designated Person Details

The revised disclosure provides comprehensive particulars of all parties involved:

Audit Committee Findings and Corrective Actions

The Audit Committee's examination on 29th April 2026 revealed that RPPL was not identified as a Designated or Connected Person at the relevant time due to non-availability of complete disclosure under the prescribed framework. The committee found no instance of trading while in possession of Unpublished Price Sensitive Information (UPSI) and concluded the matter represents a disclosure-dependent identification gap rather than a violation of Regulation 4(1) of the PIT Regulations.

The company has implemented several corrective measures including post-facto classification of RPPL as a Promoter Group entity, communication of PIT compliance requirements, strengthening of disclosure and internal control mechanisms, and temporary freezing of securities at ISIN level during the review process.

Conservative Disgorgement Methodology

Despite concluding no violation occurred, the company adopted a conservative approach to evaluate notional gain using the formula: Notional Gain = (Closing Price on Benchmark Date – WAP of shares acquired during Trading Window closure) × Quantity of Shares (2,000 Shares). Any notional gain determined will be advised for disgorgement to the Investor Protection and Education Fund (IPEF) in accordance with SEBI provisions. If the computation results in a negative value, the notional gain shall be considered as Nil.

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI LODR Regulations and SEBI Circular dated July 23, 2020, reflecting the company's commitment to transparency, good governance, and regulatory prudence.