Artson Engineering Limited has received a significant amendment to its purchase order from Tata Projects Limited, enhancing the total contract value to Rs 11.09 crores including taxes. The amendment, dated February 17, 2026, represents an enhancement of Rs 4.62 crores over the original order value.

Order Enhancement Details

The company disclosed the order amendment in compliance with Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The original purchase order was executed on November 24, 2025, with an initial value of Rs 6.47 crores, which has now been enhanced by Rs 4.62 crores.

Contract Specifications

The purchase order involves the supply of finished structures under an item rate contract structure. The order is domestic in nature and falls under the company's regular business operations. The execution timeline remains at 4 months from the original contract date.

Related Party Transaction

The transaction qualifies as a related party transaction since Tata Projects Limited serves as the promoter and holding company of Artson Engineering Limited. The company has confirmed that the transaction is conducted in the ordinary course of business and follows arm's length pricing principles.

The order enhancement demonstrates continued business collaboration between Artson Engineering Limited and its parent company, reflecting the company's capability in delivering finished structural solutions within the Tata group ecosystem.

McNally Bharat Engineering Company Limited has announced its unaudited standalone and consolidated financial results for the quarter ended December 31, 2025, marking a significant milestone following the implementation of its approved resolution plan under the Corporate Insolvency Resolution Process (CIRP).

Financial Performance Overview

The company reported total income from operations of ₹2,491.61 lakhs for Q3FY26, comprising net sales of ₹2,481.40 lakhs and other operating income of ₹10.21 lakhs. However, the company recorded a net loss of ₹6,122.15 lakhs for the quarter before exceptional items.

Exceptional Gains from Resolution Plan

The most significant development was the recognition of exceptional gains totaling ₹3,91,813.42 lakhs during the nine-month period, resulting from the implementation of the resolution plan approved by the National Company Law Tribunal (NCLT).

Resolution Plan Implementation

The company successfully completed the implementation of its resolution plan with Mandal Vyapar Private Limited, the Special Purpose Vehicle nominated by BTL EPC Limited. The total payment obligation of ₹17,498.67 lakhs has been substantially fulfilled, with ₹17,236.39 lakhs paid in three tranches.

Capital Structure Reorganization

Following the resolution plan implementation, the company's share capital was restructured with 95% extinguishment of existing shares. The new capital structure allocates 90% ownership to Mandal Vyapar Private Limited, 5% to financial creditors, and 5% to existing shareholders.

Operational Highlights

The company's operational performance showed improvement in revenue generation, with cost of materials consumed at ₹264.72 lakhs and outsourcing expenses of ₹1,570.48 lakhs for the quarter. Employee benefit expenses stood at ₹613.14 lakhs.

Regulatory and Compliance Updates

McNally Bharat has resolved its Standard Operating Procedure (SOP) fines with both BSE and NSE, paying ₹11.69 lakhs to BSE and ₹16.36 lakhs to NSE. The company received in-principle listing approval from BSE and is awaiting similar approval from NSE.

The financial results were reviewed by the Audit Committee and approved by the Board of Directors on February 20, 2026, with statutory auditor V. Singhi & Associates providing limited review reports for both standalone and consolidated results.