Ceinsys Tech Ltd

AGM details

• Date: September 26, 2026; time: 11:30 A.M. IST; mode: VC/OAVM
• Record date: September 19, 2026

Key resolutions

• Adoption of standalone financial statements for FY2026; ordinary resolution passed
• Adoption of consolidated financial statements for FY2026; ordinary resolution passed
• Declare final dividend of Rs 3.50 per equity share; ordinary resolution passed
• Re-appoint Kaushik Khona as director (retiring by rotation); ordinary resolution passed

Dividend

• Final dividend of Rs 3.50 per equity share approved

Directors

• Kaushik Khona re-appointed as director

Ceinsys Tech Ltd trading window closed from Thursday, October 1, 2026 until 48 hours after the declaration of Financial Results for the Quarter and half year ended September 30, 2026

AGM Details

• Date: 26 September 2026; Time: 11:30 AM IST.
• Mode: VC and OAVM.
• Deemed venue: Registered office, Nagpur.

Ordinary resolutions

• Adoption of standalone financial statements for FY2025-26.
• Adoption of consolidated financial statements for FY2025-26.
• Dividend declared at Rs 3.50 per equity share.
• Re-appointment of Kaushik Khona as director liable to retire by rotation.

Voting and results

• Remote e-voting period: Sep 23–25, 2026.
• AGM e-voting available; results to be declared by Sep 28, 2026.
• Scrutinizer appointed: Sushil Kawadkar, PCS.
• Attendance: 44 members attended via VC; quorum met.
• Outcome of resolutions: not disclosed; results to be declared within two working days.

Order details

• Awarding entity: T Second Inc., USA.
• Order date: 16 September 2026; execution within 1 month.
• Scope: Supply of T-U.2 32TB Drives and AI Change Detection & Asset Monitoring.
• Deliverables: AI-powered monitoring with GIS vector layers and analytics synchronized to customer.
• Total value: INR 24,10,49,250; USD 25,12,500.
• Awarding entity type: International entity.
• Related-party status: Not a related party; arm's length not applicable; promoter interest: No.
• Contract type: Hardware supply and services.

Instruments & Action

• Long-term bank facilities ₹80 cr upgraded to CARE BBB+; Stable (from CARE BBB; Positive).
• Short-term bank facilities ₹80 cr upgraded to CARE A3+ (from CARE A3).

Rating Agency

• CareEdge Ratings (Care Ratings Limited) issued the upgrade.

Rationale

• FY26 consolidated TOI grew ~59% to ₹662.73 cr, improving profitability.
• Capital structure strengthened by higher net worth after preferential issue.
• Unbilled revenue rose to ₹318.60 cr (48% of TOI) as of 31 Mar 2026.
• Order book ₹977 cr, 1.47x TOI; government/PSU focus supports visibility.
• Liquidity is adequate; gross cash accruals ~₹130–140 cr against minimal repayments.
• Weaknesses include concentrated order book, working capital intensity, and competition.
• Frequent changes in key management; governance not flagged by audits.

Outlook

• Stable

Material Changes

• Ratings upgraded on both long-term and short-term facilities; outlook unchanged.

Financial Highlights

• Consolidated TOI ₹662.73 cr; PAT ₹133.42 cr; PBILDT ₹151.43 cr; Gearing 0.09x.
• Standalone TOI ₹637.20 cr; PAT ₹154.21 cr; Gearing 0.05x.
• Unbilled revenue ₹318.60 cr (48% of TOI) as of 31 Mar 2026.
• Order book ₹977 cr; 1.47x TOI; majority from state governments/PSUs.
• GCA ₹130–140 cr; repayments ~₹1 cr FY27–29; liquidity adequate.
• Fund-based utilization ~66%; non-fund-based ~95%.

Rating Sensitivities

• Positive: TOI above ₹900 cr and stable margins.
• Negative: TOI below ₹500 cr with margin deterioration.
• Liquidity risk if collection period exceeds 250 days.

Order award details

• Awarding entity: Rite Water Solutions (India) Limited (domestic).
• Scope: Design, supply, installation, testing and commissioning of RTU, FRTU, Remote IO for 132/110/100kV substations and allied equipment.
• Contract value: Rs 28,17,42,382.20 excluding GST.
• Execution period: 48 months (24 months execution, 24 months warranty).
• Warranty: 2 years.
• Related party: none; arm's-length not applicable.
• Material impact: not disclosed.

CFO resignation and transition

• CA Amita Saxena resigns as CFO and KMP effective 15 October 2026 for personal reasons.
• Richa Jain, appointed Deputy CFO on 6 July 2026, will oversee handover.