Elpro International Ltd| Standalone Audited Financial Results for the Quarter and Year Ended March 31, 2026

⬤28th Apr 26

Summary : Elpro International shows mixed financial results, with standalone profits declining but consolidated profits increasing, driven by diversified segments and an unmodified audit opinion.

Quarterly Report Analysis & Insights

Financial Disclosures

Cost of materials consumed
Purchases of stock-in-trade
Changes in inventories of finished goods & goods-in-process
Real estate service expenses
Employee benefits expense
Finance costs
Depreciation & amortization expense
Other expenses
Standalone Revenue from operations (FY26): 16,903.08 lakhs
Consolidated Revenue from operations (FY26): 52,814.25 lakhs
Standalone Net cash (used in)/generated from operating activities (FY26): (3,517.48) lakhs
Consolidated Net cash generated from operating activities (FY26): 6,909.79 lakhs
Standalone Net cash (used in)/generated from investing activities (FY26): 3,068.51 lakhs
Consolidated Net cash used in investing activities (FY26): (1,892.54) lakhs
Standalone Net cash generated from financing activities (FY26): 3,931.84 lakhs
Consolidated Net cash used in financing activities (FY26): (1,290.93) lakhs
Standalone Net increase in cash and cash equivalents (FY26): 3,482.87 lakhs
Consolidated Net increase in cash and cash equivalents (FY26): 3,726.32 lakhs
Standalone Total Assets (March 31, 2026): 3,49,459.81 lakhs
Consolidated Total Assets (March 31, 2026): 3,61,794.57 lakhs
Standalone Total Equity (March 31, 2026): 2,10,138.19 lakhs
Consolidated Total Equity (March 31, 2026): 2,03,049.10 lakhs
Both standalone and consolidated financial results are presented and audited.
Eduspace Services LLP converted to a subsidiary, impacting consolidation.

Corporate Overview

Manufacturing and sale of electrical equipment (lightning arresters, varistor, etc.)
Real estate development, property leasing, and land & premises
Investment in financial instruments (long-term and short-term)
Trading activities (commodities, financial instruments, derivatives)
Power generation from Windmill
Factual and formal, reporting financial results and audit outcomes.
Electrical equipments
Real estate
Investment activity
Trading activity
Others (power generation from Windmill)

Risk Factors

Standalone profit and EPS decreased year-on-year.
Standalone operating cash flow turned negative.
AIF investments valuation based on prior NAV.
Uncertainty regarding new Labour Codes implementation.

Key Drivers

Consolidated profit before tax increased significantly.
Consolidated net profit after tax increased.
Eduspace Services LLP converted to subsidiary.
Diversified business model across multiple segments.

Auditor’s Report

Unmodified Opinion on Standalone Financial Results
Unmodified Opinion on Consolidated Financial Results

Board Commentary

Evaluation of impact from new Labour Codes (Code on Wages, Industrial Relations Code, Social Security Code, Occupational Safety, Health and Working Conditions Code) on employee benefits and compensation framework.

Corporate Governance

Auditors comply with ICAI Code of Ethics.
Audit Committee reviewed and recommended financial results.

Management Discussion & Analysis

Risk Control Measures

Management expects impact of AIF valuation on NAV not to be material.

Critical Risks

Valuation of Alternative Investment Funds (AIF) based on prior quarter's Net Asset Value (NAV) due to delayed receipt of latest NAVs.