Yash Innoventures Limited (formerly known as Redex Protech Limited) has released its audited financial results for the quarter and year ended March 31, 2026, following a Board of Directors meeting held on May 12, 2026. The results, approved in compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, mark a significant turnaround for the company, which swung to a net profit of ₹177.10 lacs for the full year from a net loss of ₹446.21 lacs in the prior year. The statutory audit was conducted by Shah & Shah, Chartered Accountants (Firm Registration Number: 131527W), Ahmedabad.

Financial Performance Overview

The company's total income for the year ended March 31, 2026 stood at ₹155.19 lacs, compared to ₹50.83 lacs in the prior year. Revenue from operations for the year was ₹138.00 lacs versus ₹27.37 lacs previously, while other income contributed ₹17.19 lacs against ₹23.46 lacs. Total expenses for the year rose to ₹535.56 lacs from ₹367.34 lacs. The company recorded a loss before exceptional items and tax of ₹380.37 lacs; however, an exceptional gain of ₹612.10 lacs — arising from the sale of a non-current asset classified as held for sale — resulted in a profit before tax of ₹231.73 lacs for the full year.

The following table presents the key financial results for the quarter and year ended March 31, 2026 (INR in lacs):

The company operates in a single segment — Construction and Infrastructure — and segment-wise reporting is therefore not applicable as per Ind AS 108. The paid-up equity share capital remained unchanged at ₹1,603.00 lacs (face value ₹10 per share).

Balance Sheet Highlights

As at March 31, 2026, total assets stood at ₹6,262.09 lacs, a significant increase from ₹3,384.09 lacs as at March 31, 2025 (restated). This expansion was primarily driven by a sharp rise in inventories to ₹4,387.59 lacs from ₹1,128.94 lacs. Total equity improved to ₹1,373.04 lacs from ₹795.92 lacs, supported by the year's profit and other comprehensive income. The following table summarises the key balance sheet positions:

Cash Flow Summary

For the year ended March 31, 2026, net cash used in operating activities was ₹3,058.52 lacs, compared to ₹1,085.44 lacs in the prior year, reflecting the significant increase in inventories. Net cash from investing activities was ₹429.65 lacs (prior year: ₹777.47 lacs), supported by proceeds from the sale of property, plant and equipment of ₹211.00 lacs and advances of ₹350.00 lacs. Net cash from financing activities was ₹2,632.75 lacs (prior year: ₹292.39 lacs), driven by increased long-term borrowings of ₹1,698.51 lacs and short-term borrowings of ₹934.24 lacs. Cash and cash equivalents at the end of the year stood at ₹3.72 lacs.

Scheme of Amalgamation and Restatement

The financial results incorporate the impact of the Scheme of Amalgamation of Yash Shelters Limited (Transferor Company) with Yash Innoventures Limited (Transferee Company), sanctioned by the Hon'ble National Company Law Tribunal, Ahmedabad Bench on March 25, 2025, with an appointed date of October 1, 2022, and effective from April 15, 2025. The scheme, being a common control transaction, has been accounted for using the pooling of interests method retrospectively, with prior period figures restated accordingly. Pursuant to the scheme, the company issued 93,08,800 fully paid-up equity shares of ₹10 each to the shareholders of Yash Shelters Limited in an agreed swap ratio of 32:1. Additionally, an investment acquired through the amalgamation has been classified under the Fair Value through Other Comprehensive Income (FVOCI) category, resulting in an unrealised gain of ₹466.78 lacs recognised in Other Comprehensive Income for the year.

Auditor's Observations and Compliance Matters

The statutory auditors, Shah & Shah, issued an unmodified opinion on the financial results. However, they drew attention to two matters. First, managerial remuneration paid to the Managing Director and Whole-time Director during the year ended March 31, 2026, in a situation of no profits or inadequate profits, had not received shareholder approval as required under Section 197(3) read with Schedule V of the Companies Act, 2013; the management has stated its intention to seek ratification at the ensuing general meeting. Second, the position of Company Secretary has remained vacant since October 31, 2025, resulting in non-compliance with Section 203 of the Companies Act, 2013 and Regulation 6 of SEBI (LODR) Regulations, 2015. Additionally, the company disclosed that during the year it availed borrowings aggregating to ₹1,549.99 lacs from financial institutions, secured against immovable properties owned by directors and their relatives. The trading window for dealing in the company's securities, which opened on April 1, 2026, remained closed through May 14, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

Yash Innoventures Limited has submitted its quarterly certificate to BSE Limited under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The company filed the compliance certificate on April 11, 2026, confirming proper dematerialization procedures for securities processed during the quarter.

SEBI Compliance Certificate Filing

The company submitted the certificate to the General Manager (DCS) of BSE Limited, referencing scrip code 526961. The submission was digitally signed by Mr. Gnanesh Rajendrabhai Bhagat, Managing Director (DIN: 00115076), and included a confirmation certificate from Purva Sharegistry (India) Private Limited, the company's Registrar and Transfer Agents.

Dematerialization Process Confirmation

The certificate confirms that securities received for dematerialization have been mutilated and cancelled after due verification, with the depository name substituted in company records as the registered owner within stipulated timelines. Purva Sharegistry confirmed that all security certificates received during the quarter were properly processed and that the securities are listed on stock exchanges where earlier issued securities are listed.

Share Certificate Processing Details

During the quarter ended March 31, 2026, the company processed dematerialization of 30 share certificates covering 3,000 shares across various shareholders. The dematerialization activities were spread throughout the quarter, with processing dates ranging from January 7, 2026 to March 30, 2026.

Regulatory Compliance and Documentation

The submission included copies to National Securities Depository Limited and Central Depository Services India Limited, ensuring comprehensive regulatory compliance. Ms. Deepali Gaonkar, Compliance Officer at Purva Sharegistry, certified the dematerialization process and confirmed that all procedures were completed within prescribed timelines as per SEBI regulations.

The company maintained strict adherence to regulatory requirements, with proper documentation and digital signatures validating the entire dematerialization process for the quarter.