Solid Stone Company Ltd

Solid Stone Company Ltd: Trading window closed from 1 October 2026 till 48 hours after the announcement of the Unaudited Financial Results for the Second Quarter and Half Year ending 30th September, 2026.

AGM details

• AGM held on 22 September 2026 through Video Conferencing/OVAM.
• Meeting started 9:30 AM and concluded 9:54 AM.
• Mode: VC/OAVM with remote e-voting facility.
• Remote e-voting conducted 19–21 September 2026 with cutoff 15 September 2026.
• Kamal Patel appointed Scrutinizer for the e-voting process.
• Auditors' report taken as read with no qualifications.
• Total shareholders on record date: 2,176.
• Attendees via VC: 21 members.

Ordinary resolutions

• Ordinary resolution: adoption of audited standalone and consolidated financial statements approved.
• Ordinary resolution: reappointment of Rashmi Ghorpade as Independent Director.

Voting results

• Item 1 passed; in-favour 37,47,744 votes; against 7.
• Item 2 passed; in-favour 37,47,744 votes; against 7.

Director changes

• Ms Rashmi Ghorpade reappointed as Independent Director, retiring by rotation.

AGM details

• AGM held on 22 September 2026 at 9:30 A.M. via VC/OAVM.
• Meeting ended at 9:54 A.M.
• Mode: Video Conferencing/OAVM.
• Remote e-voting window: 19 Sep 2026 9:00 A.M. to 21 Sep 2026 5:00 P.M.
• Voting rights cutoff date: 15 Sep 2026.
• Scrutinizer appointed for e-voting: Kamal Patel.
• Quorum satisfied under the Companies Act requirements.
• Auditors' Report read with no qualifications.

Key resolutions

• Adoption of standalone and consolidated financial statements with reports.
• Director Rashmi Ghorpade reappointed; retiring by rotation.

Voting results

• All resolutions passed by requisite majority per Scrutinizer's report.

Related party transactions

• No material related party transactions disclosed.

Book closure details

• Book closure from 15.09.2026 to 21.09.2026 inclusive for 53,80,000 equity shares of Rs 10.
• AGM scheduled for 22.09.2026.
• Purpose: annual book closure in respect of the AGM.

Financial performance

• Revenue from operations stood at Rs 257353.18k; down from Rs 276773.82k.
• Total income: Rs 258162.90k for the year.
• Profit before tax: Rs 8265.41k; profit after tax Rs 5021.07k.
• Earnings per share (basic) was Rs 0.93.
• Dividend for the year was not proposed.
• Net debt to equity ratio stood at 41.19%.

Debt, liquidity & capital structure

• Borrowings at 31 Mar 2026: current Rs 127065.36k; non-current Rs 34121.86k.
• Net debt to equity ratio: 41.19%.
• Share capital Rs 53,800.00k; other equity Rs 175,416.73k.

Operational footprint

• Single operating segment: natural stones and allied building materials.
• Domestic market focus; no material overseas revenue disclosed.
• Associate: Global Instile Solid Industries Ltd; 29.88% holding.

Governance & board

• Board comprises two executive and three independent directors.
• Rashmi Ghorpade's Independent Director tenure ends Sept 22, 2026; eligible for re-appointment.
• Statutory Auditor: Ashar & Co LLP; tenure through 2030 AGM.
• Secretarial Auditor: Jinang Shah & Associates; five-year term.
• Audit Committee met four times; all independent directors attended.

Audit, controls & compliance

• Auditors’ report: no qualifications; no fraud reported.
• Internal financial controls: adequate and effective.
• Secretarial compliance: no non-compliances observed.

Related party & associates

• Related party transactions: arm's length and in ordinary course.
• Global Instile Solid Industries Ltd is an associate; 29.88% stake.

Outlook & risks

• Outlook: macro uncertainties persist; Make in India and infrastructure could support demand.
• Imported stones competition; margins under pressure; domestic demand to grow cautiously.

Shareholder information & disclosures

• Equity share capital: Rs 53.8 million; promoters hold a majority stake.
• Prominent holders include Prakash and Milan Khakhhar.

AGM details

• AGM on 22 September 2026 at 9:30 a.m. via VC/OAVM.
• Register of Members closure from 17 September to 21 September 2026.

Ordinary resolutions

• Adopt standalone financial statements for year ended 31 March 2026, with reports.
• Adopt consolidated financial statements for year ended 31 March 2026, with auditors' report.
• Re-appointment of Rashmi Ghorpade as director by rotation.

Director changes

• Ms Rashmi Ghorpade to be reappointed; retires by rotation.

Voting results

• Voting results not disclosed in this filing.

Standalone results

• Standalone revenue from operations (gross) 502.92 Lakh for quarter ended 30/06/2026.
• Standalone total revenue 504.44 Lakh; expenses 498.24 Lakh.
• Standalone PBT 6.20 Lakh; tax expense 2.08 Lakh; PAT 4.12 Lakh.
• Standalone EPS 0.08; total comprehensive income 4.27 Lakh.
• Single reportable segment: natural stones and allied building materials.
• Independent auditor's review: standalone results unmodified.
• Board approved results on 13 August 2026.

Consolidated results

• Consolidated revenue from operations (gross) 502.92 Lakh; total revenue 504.44 Lakh.
• Consolidated net profit after tax 4.08 Lakh; EPS 0.08.
• Consolidated total comprehensive income 4.23 Lakh.
• Results include associate Global Institute Solid Industries Limited.
• Consolidated limited review: unmodified.
• Board approved consolidated results on 13 August 2026.

Comparatives & notes

• QoQ standalone PBT rose to 6.20 Lakh from 5.93 Lakh.
• YoY standalone total revenue declined to 504.44 Lakh from 568.78 Lakh.
• YoY standalone PAT declined to 4.12 Lakh from 5.08 Lakh.
• Consolidated PAT YoY declined to 4.08 Lakh from 4.38 Lakh.

Financial Performance 📊

• Consolidated Q3 FY26 revenue: Rs 469.79 lakh, down 44.9% YoY from Rs 852.10 lakh.
• Consolidated Q3 FY26 PAT: Rs 4.06 lakh, down 85.7% YoY from Rs 28.47 lakh.
• Nine months FY26 consolidated revenue: Rs 1,667.64 lakh, down 16.7% YoY from Rs 2,003.39 lakh.
• Nine months FY26 consolidated PAT: Rs 20.37 lakh, down 67.3% YoY from Rs 62.40 lakh.
• Consolidated EPS Q3 FY26: Rs 0.08 vs Rs 0.53 in Q3 FY25; nine months EPS: Rs 0.38 vs Rs 1.16.
• No exceptional or extraordinary items reported in standalone or consolidated results.

Cost & Expenses

• Cost of raw materials and stock-in-trade decreased YoY; inventory changes reduced expenses.
• Employee benefits expenses stable YoY; finance costs steady around Rs 144-145 lakh for nine months.
• Depreciation increased YoY; other expenses declined compared to prior year.
• Share of loss from associate Rs 0.17 lakh Q3, Rs 1.05 lakh nine months.

Corporate & Compliance

• Board approved results on February 10, 2026; limited review by Ashar & Co LLP with unmodified conclusion.
• Financials prepared under Ind AS 34 and comply with SEBI Listing Regulations.

Business Model

• Company operates in natural stones and building materials with a single reportable segment.

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