Integrated Industries Ltd

Key disclosures

• Board approved the unaudited standalone and consolidated results for quarter ended 30 June 2026.
• Limited Review Reports on results issued by statutory auditors.
• Consolidated results include subsidiary, Nurture Well Foods Ltd, with revenue Rs 15,281.17 lakh and PAT Rs 1,402.41 lakh.
• Standalone results show revenue Rs 278.84 lakh and PAT Rs 150.96 lakh for the quarter.
• Consolidated segment information: India revenue Rs 2,726.00 lakh; Overseas Rs 12,548.38 lakh; total Rs 15,274.38 lakh.
• New Labour Codes impact not material; incremental effects recognised in FY2026.
• Results to be uploaded on company website and published in newspapers per Regulation 47(1)(b).
• Audit Committee reviewed the results prior to Board approval; statutory auditors conducted limited review.

Issue Overview

• Type and securities: preferential issue of convertible warrants.
• Total issue size disclosed; 25% of proceeds received by 30-Jun-2026; no additional funds in quarter.
• Main objectives: working capital for subsidiaries including step-down and general corporate purposes.

Utilisation of Proceeds

• Utilisation is as per offer disclosures.
• No material deviations or changes in allocation reported.
• Working capital for subsidiaries utilised; 23.49 crore; unutilised 81.20 crore; ongoing.
• General corporate purpose utilised; 5.18 crore; unutilised 4.82 crore; ongoing.
• No new deployment during quarter.

Governance and Compliance

• All statutory approvals obtained; documented via company letter.
• No material events or information affecting viability reported.
• No conflicts of interest or adverse information noted.

GCP

• GCP utilisation: 5.18 crore as of 30-Jun-2026 for general corporate purposes.
• Board approval for allocation evidenced by board resolution.

Price movement clarification

• No undisclosed material event; stock price movement is market-driven with no known cause.

Guarantee details

• Corporate guarantee of Rs 25 crore issued to Punjab & Sind Bank for NWFL's loan facility.
• Borrower: Nurture Well Foods Limited, NWFL.
• Promoter group has no interest; guarantee is at arm's length.
• Contingent liability; no immediate impact on operations.
• Lender: Punjab & Sind Bank.
• Subsidiary NWFL's loan facility is secured by this guarantee.

Financial Highlights Q3 & 9M FY26

• 9M FY26 revenue rose 57.28% YoY to ₹826.48 Cr
• Q3 FY26 revenue increased 45.80% YoY to ₹289.77 Cr
• 9M FY26 EBITDA grew 92.67% YoY to ₹89.38 Cr
• Q3 FY26 EBITDA rose 93.80% YoY to ₹33.19 Cr
• 9M FY26 EBITDA margin improved 198 bps to 10.81%
• Q3 FY26 EBITDA margin increased 280 bps to 11.45%
• 9M FY26 net profit surged 104.20% YoY to ₹92.32 Cr
• Q3 FY26 net profit rose 95.04% YoY to ₹34.60 Cr
• 9M FY26 net profit margin improved 202 bps to 10.37%
• Q3 FY26 net profit margin increased 242 bps to 10.72%
• 9M FY26 diluted EPS nearly doubled to ₹3.15

Product and Business Expansion

• Launched Donuts (premium and mass variants) targeting urban markets
• Introduced Rusk, a high-repeat tea-time consumption product
• Launched Khari Biscuits with strong demand
• Entered fresh bakery segment with Kulcha, Bread, and Veg Puff variants
• Bakery expansion enhances retailer engagement and institutional sales
• Focus on daily consumption products with strong retailer pull and margins

Operational Highlights

• Acquired biscuit manufacturing facility via subsidiary Nurture Well Foods Ltd
• Neemrana facility capacity at 3,400 MT per month with automated technology
• Facility produces premium biscuits and cookies for domestic and export markets

Management Outlook

• Confident in sustaining growth momentum through product expansion and efficiency
• Focus on distribution expansion, packaging upgrades, and operational discipline
• Emphasis on profitability and efficient capital utilization

Business Overview

• Nurture Well Industries manufactures organic/inorganic food, bakery, and processed foods.
• Acquired a biscuit manufacturing facility via subsidiary Nurture Well Foods Ltd in 2023.
• Nurture Well Foods produces premium biscuits under brands Richlite, Funtreat, and Crazy Crunch.
• Neemrana facility capacity is 3,400 MT per month with modern automated technology.
• Strong distribution network with 150+ partners across North India.
• Exports to 9+ countries in Africa and Middle East.
• Focus on quality, innovation, and scalable operations.

Key Operational Highlights

• Acquired running biscuit plant at Neemrana, Rajasthan in May 2023.
• Expanded international presence in August 2023.
• Revenue crossed ₹300 crore in 2024 and ₹450 crore by December 2024.
• Offers 7 biscuit variants in 200g and 400g packs.
• Facility located near NH-8 with good road and air connectivity.

Financial Performance

• 9M FY26 revenue ₹826.48 crore, up 57.28% YoY from ₹525.49 crore.
• 9M FY26 EBITDA ₹89.38 crore, up 92.67% YoY; margin improved to 10.81%.
• 9M FY26 PAT ₹85.71 crore, up 95.37% YoY; net margin 10.37%.
• Q3 FY26 revenue ₹289.77 crore, up 46% YoY; EBITDA margin 11.45%.
• Q3 FY26 PAT ₹31.05 crore, up 88% YoY; net margin 11.94%.
• Cost of materials increased proportionally with revenue growth.
• Net profit margin improved by over 200 bps YoY.

Capital Structure & Liquidity

• Share capital stable at ₹23.33 crore; other equity increased to ₹282.78 crore.
• Total borrowings low at ₹0.91 crore non-current and ₹10.06 crore short-term.
• Cash and cash equivalents decreased to ₹3.22 crore as of H1 FY26.
• Operating cash flow positive at ₹10.4 crore in H1 FY26.
• Investing cash flow negative due to capital expenditure at ₹23.74 crore.

Strategic Priorities & Outlook

• Focus on expanding biscuit and bakery market share domestically and internationally.
• Leverage scalable manufacturing capacity for new product launches.
• Capitalize on rising demand for nutritious, premium snacking options.
• Expand exports in emerging markets in Africa and Middle East.
• Benefit from government schemes supporting food processing and exports.

Risks & Mitigation

• Exposure to raw material cost fluctuations impacting margins.
• Competitive FMCG market requires continuous innovation and quality focus.
• Mitigation via scalable operations and diversified product portfolio.

Governance & Leadership

• Mr. Saurabh Goyal serves as Managing Director with diverse industry experience.
• Mr. Sanidhya Garg is Executive Director with focus on biscuit industry growth.
• No recent changes in board or shareholding reported.