Incredible Industries Ltd

Financial highlights

• Revenue from operations: ₹84,029.78 Lakh in FY2025-26 vs ₹75,614.48 in FY2024-25.
• EBITDA: ₹2,416.59 Lakh in FY2025-26, up from ₹2,207.66.
• PAT: ₹1,151.64 Lakh, down from ₹1,248.72.
• Total comprehensive income: ₹1,186.65 Lakh, down from ₹1,264.40.
• Net worth: ₹15,711.68 Lakh, up from ₹14,525.03.
• Long-term borrowings: ₹1,348.59 Lakh; cash ₹8.32 Lakh.
• Debt-to-equity: 0.21x; ROCE: 10.07%.
• EPS: ₹2.54; basic and diluted.

Expansion and operations

• SMS capacity: 2,56,000 MT per year after installation.
• Rolling Mill capacity: 2,22,000 MT per year after expansion.
• Backward integration investment: ₹15,100 Lakh.
• SMS construction progressing; automation upgrades and billet flow improvements.

Industry and outlook

• India remains second-largest crude steel producer; infrastructure fuels demand.
• National Steel Policy targets 300 MT by 2030-31.
• Industry outlook: demand growth aided by supportive policy tailwinds.

Governance and controls

• Board size six; 1 Executive Chair; 3 Independent Directors; two women.
• Statutory auditors: replacement recommended for five years from 47th AGM.
• Secretarial audit: no major observations; Suzlon matter awaiting Supreme Court decision.
• Internal controls are adequate; no material weaknesses reported.

Capital structure and liquidity

• Equity share capital ₹4,676.38 Lakh.
• Total equity ₹15,711.68 Lakh; borrowings ₹3,297.84 Lakh.
• Net debt ₹3,289.52 Lakh; net debt/ equity 0.21x.
• Dividend: no dividend declared.

CSR and ESG

• CSR spend ₹20.00 Lakh; shortfall ₹0.85 Lakh.
• CSR average net profit ₹19.15 Lakh; 2% obligation.
• CSR focus: education and skill development; NGOs engaged.

Related party transactions

• Material RPT with Adhunik Corporation Limited; omnibus approval up to ₹800 Crores.
• RPTs are at arm's length and in ordinary course; prior Audit Committee approval obtained.
• Shareholders approved material RPTs at 45th AGM (Sept 2024).

Audit and risk

• Auditors' report unqualified; no fraud reported; internal controls deemed adequate.
• Risk management targets raw material price volatility and cyclicality in steel.

Book closure and AGM details

• Book closure Sep 12–18, 2026 (inclusive) for 47th AGM via VC/OAVM on Sep 18, 2026.

Financial highlights

• Quarter ended 30 Jun 2026: Revenue from operations Rs 21,303.49 lac; Total income Rs 21,334.16 lac.
• PBT Rs 529.82 lac; PAT Rs 396.25 lac in Q1 FY2026.
• EPS (basic and diluted) Rs 0.87 for Q1 FY2026.
• Total expenses Rs 20,804.34 lac; cost of materials consumed Rs 18,590.60 lac.
• Single segment: Iron & Steel Products.
• Auditors' limited review completed; no material misstatement identified.
• The report did not express an audit opinion.
• Board approved unaudited results; reviewed by Statutory Auditors.
• Date: Results issued 10 Aug 2026.

Financial results

• Board approved unaudited quarterly results for quarter ended 30 June 2026 and Limited Review Report.

AGM and auditor appointment

• 47th AGM scheduled for Sep 18, 2026 at 02:30 PM via VC/OAVM.
• M/s Sudhir Kumar Jain & Associates appointed as Statutory Auditor for five years.
• Appointment subject to members' approval; replaces R. Gopal & Associates.
• Term runs from conclusion of 47th AGM to conclusion of 52nd AGM (2031).

Certificate details

• Certificate from RTA for demat/remat processing enclosed.

Credit Rating Downgrade by IVRPL

• IVRPL downgraded long-term bank facilities rating from BBB to BBB-
• Short-term bank facilities rating downgraded from A3+ to A3 by IVRPL
• Rating outlook changed from Stable to Negative by IVRPL
• Downgrade due to non-submission of requisite information
• IVRPL ratings are now under Issuer Not Cooperating status

Other Rating Agency Status

• Company maintains valid credit rating from Acuité Ratings & Research Limited
• Credit facilities continue under Acuité rating
• Company initiated withdrawal of IVRPL ratings, awaiting lender NOC