Tulsi Extrusions Ltd

Financial highlights

• Quarter ended 31-12-2025: Revenue from operations Rs 905.31 L.
• Quarter ended 31-12-2025: Total income Rs 905.39 L.
• Quarter ended 31-12-2025: Profit before tax Rs -327.38 L.
• Quarter ended 31-12-2025: Basic and diluted EPS Rs -1.56.
• Nine months ended 31-12-2025: Revenue from operations Rs 2,614.78 L.
• Nine months ended 31-12-2025: Total income Rs 2,624.85 L.
• Nine months ended 31-12-2025: Profit before tax Rs -1,465.70 L.
• Nine months ended 31-12-2025: Basic and diluted EPS Rs -7.00.
• Equity share capital Rs 2,094.95 L.
• Tax expense nil for the periods.

Governance & compliance notes

• Resignation of Company Secretary and Compliance Officer Muskan Aggarwal dated 24.06.2026.
• Delay in submission of results due to revival from liquidation; pending approvals for fresh equity/capital structure.
• Board approved standalone results, with Limited Review Report by M/s K R A & CO.
• Auditor's review: no material misstatement observed in standalone results.

Board appointment

• Mr. Sandesh Jaju appointed as Additional Non-Executive Director effective June 10, 2026.
• Appointment is subject to shareholder approval at the ensuing general meeting.
• He is a practicing Chartered Accountant with finance, valuation, reporting, consultancy, and audit experience.
• He has 7+ years post-qualification experience and cleared CFA levels I and II.
• He also cleared the Registered Valuer–Securities and Financial Assets exam in 2022.
• No equity shares held in the company; no inter-se relationship with other directors stated.

Financial Performance Q2 FY26

• Revenue from operations declined 36% QoQ to INR 667 lakh in Q2 FY26
• Total income was INR 664 lakh, down 37% QoQ and flat YoY
• Cost of material consumed was INR 1411 lakh, down 8% QoQ but up 399% YoY
• Employee benefits expenses decreased 9% QoQ to INR 93 lakh
• Depreciation expense stable at INR 202 lakh QoQ, up 64% YoY
• Finance costs declined 8% QoQ to INR 27 lakh
• Total expenses decreased 16% QoQ to INR 1309 lakh
• Net loss widened to INR 644 lakh vs INR 494 lakh in prior quarter
• Basic and diluted EPS was negative INR 3.08 for Q2 FY26
• Half year revenue was INR 1710 lakh, flat YoY
• Half year net loss was INR 1138 lakh vs INR 538 lakh loss prior year
• No tax expense reported for the period

Cash Flow and Balance Sheet

• Net cash from operations was positive INR 24 lakh in H1 FY26 vs negative INR 2979 lakh prior year
• Net cash used in investing activities was INR 11 lakh in H1 FY26
• Net cash used in financing activities was INR 37 lakh in H1 FY26
• Cash and cash equivalents declined to INR 6 lakh at Sept 30, 2025 from INR 31 lakh at Mar 31, 2025
• Total assets decreased to INR 8619 lakh at Sept 30, 2025 from INR 9339 lakh at Mar 31, 2025
• Equity share capital remained INR 2095 lakh
• Other equity declined to INR 1595 lakh from INR 2734 lakh
• Trade payables increased to INR 2058 lakh from INR 2020 lakh
• Borrowings decreased to INR 2015 lakh from INR 2394 lakh

Corporate and Regulatory Updates

• Company emerged from liquidation; status changed to active as of May 1, 2023
• New management assumed control post-revival and reconstituted board
• Delay in financial results due to reconstruction of records post-insolvency
• Application pending with NCLT for fresh equity issuance and capital structure approval
• Management committed to compliance and timely future filings
• Auditor’s limited review report expressed no material misstatement

Business Model

• Company operates in processing and trading of PVC pipes as sole business segment
• No segmental revenue disclosures due to single business focus

Financial Performance 📊

• Revenue from operations declined 24.8% YoY to INR 1,042.71 lakhs in Q1 FY2026.
• Total income decreased 24.0% YoY to INR 1,055.02 lakhs in Q1 FY2026.
• Cost of material consumed rose to INR 1,529.20 lakhs from INR 1,388.80 lakhs YoY.
• Employee benefits expenses declined 29.5% YoY to INR 102.75 lakhs.
• Depreciation and amortisation expenses increased 65.2% YoY to INR 201.72 lakhs.
• Finance costs increased to INR 29.24 lakhs from INR 10.54 lakhs YoY.

Profitability & EPS

• Reported loss before tax was INR 493.99 lakhs vs loss of INR 200.07 lakhs YoY.
• Net loss stood at INR 493.99 lakhs; no tax expense reported.
• Basic and diluted EPS was negative INR 2.36 vs negative INR 0.95 YoY.

Corporate Actions & Compliance

• Company emerged from liquidation; management assumed control post May 2023 NCLT order.
• Application pending at NCLT for fresh equity issuance and capital structure revision.
• Auditor’s limited review report expressed no material misstatement or non-compliance.
• Board committed to strengthening compliance and timely future filings.

Business Model & Segments

• Sole business segment is PVC pipes processing and trading; no segmental disclosures required.

Financial Performance

• Board approved unaudited standalone financial results for quarter ended June 30, 2025.
• Reported loss of INR 493.99 lakhs for the quarter ended June 30, 2025.
• Revenue from operations was INR 1,042.71 lakhs; total expenses were INR 1,549.00 lakhs.
• No tax expense recognized; basic and diluted earnings per share were negative INR 2.36.
• Auditor’s limited review report expressed no material misstatement or qualification.

Corporate Status and Regulatory Matters ️

• Company status changed from "Under Liquidation" to "Active" per NCLT order dated May 1, 2023.
• Pending NCLT approval for issuance and listing of fresh equity shares and extinguishment of existing share capital.
• Delay in financial results submission due to prior insolvency, liquidation, and revival proceedings.

Management and Governance

• New management assumed control post-revival, reconstructing financial records and compliance framework.
• Board and management committed to strengthening internal compliance and timely future regulatory filings.