Indian Toners & Developers Ltd (523586) Quarterly Report Analysis & Insights

Indian Toners & Developers Ltd

| Statement of Audited Financial Results for the Quarter and Year Ended 31st March,2026

⬤11th May 26

Summary : Indian Toners & Developers Ltd. reported strong financial growth with increased revenue, profit, and comprehensive income, driven by strategic tax regime adoption and significant capital expenditure for future expansion, despite a one-time labor code expense.

Quarterly Report Analysis & Insights

Financial Disclosures

Cost of materials consumed: 7200.50 Lakhs (Year Ended Mar 31, 2026).
Employee benefits expense: 2145.06 Lakhs (Year Ended Mar 31, 2026).
Total expenses: 13643.03 Lakhs (Year Ended Mar 31, 2026).
Total revenue from operations: 16581.14 Lakhs (Year Ended Mar 31, 2026).
Other income: 568.14 Lakhs (Year Ended Mar 31, 2026).
Net cash inflow from operating activities: 3591.43 Lakhs (Year Ended Mar 31, 2026) vs 2607.42 Lakhs (Mar 31, 2025).
Net cash outflow from investing activities: (5211.34) Lakhs (Year Ended Mar 31, 2026) vs 1646.26 Lakhs (Mar 31, 2025).
Net cash outflow from financing activities: (684.61) Lakhs (Year Ended Mar 31, 2026) vs (3108.24) Lakhs (Mar 31, 2025).
Cash and cash equivalents at year-end: 862.02 Lakhs (Year Ended Mar 31, 2026) vs 3166.55 Lakhs (Mar 31, 2025).
Total assets: 26106.52 Lakhs (Mar 31, 2026) vs 22957.23 Lakhs (Mar 31, 2025).
Total equity attributable to equity holders: 23226.68 Lakhs (Mar 31, 2026) vs 20180.78 Lakhs (Mar 31, 2025).
Property, plant and equipment: 8890.70 Lakhs (Mar 31, 2026) vs 8015.41 Lakhs (Mar 31, 2025).
Cash and cash equivalents: 862.02 Lakhs (Mar 31, 2026) vs 3166.55 Lakhs (Mar 31, 2025).
Financial results are presented on a standalone basis.

Corporate Overview

One-time increase in employee benefit provision due to New Labour Codes.
Significant increase in capital expenditure for PPE and capital work-in-progress (4631.28 Lakhs in 2026 vs 1037.29 Lakhs in 2025).

Risk Factors

One-time exceptional expense from new labor codes.
Significant decrease in cash and cash equivalents.
Regulatory uncertainty regarding new labor codes.
Increased capital expenditure impacts liquidity.

Key Drivers

Strong revenue and profit growth.
Significant increase in comprehensive income.
Substantial capital expenditure for future.
New tax regime optimizes tax liability.

Auditor’s Report

Unmodified opinion on standalone financial results.

Board Commentary

Financial impact of New Labour Codes on employee benefits.
Consolidation of labour legislations into New Labour Codes effective November 21, 2025.
Changes to employee benefit plans due to legislative amendments.
Substantial capital expenditure on Property, Plant & Equipment and Capital Work-in-Progress.

Management Discussion & Analysis

Future Strategy

Adopted New Tax Regime u/s 115BAA for tax optimization.

Performance Drivers

Increased total revenue from operations (16581.14 Lakhs in 2026 vs 15298.82 Lakhs in 2025).
Higher net profit for the period (2723.30 Lakhs in 2026 vs 2244.28 Lakhs in 2025).
Adoption of New Tax Regime u/s 115BAA to optimize net tax liability.

Risk Control Measures

Impact of New Labour Codes will be evaluated and accounted for as rules are notified.

Critical Risks

Impact of New Labour Codes on employee benefits, with rules still being notified.
One-time exceptional expense of 35.84 Lakhs due to New Labour Codes.