ITI (523610) Q4 25/26 earnings summary

Executive summary

• Audited standalone and consolidated financial results for the year ended March 31, 2026, were approved by the Board on May 28, 2026, with a disclaimer of opinion from the auditors due to pervasive audit qualifications.

• Net profit after tax for FY26 was Rs. 29,279 lakhs (standalone) and Rs. 29,283 lakhs (consolidated), driven by a significant exceptional gain from asset sales.

• The company remains under a government-approved revival plan and continues to face material uncertainty regarding its ability to continue as a going concern.

Financial highlights

• Revenue from operations for FY26 was Rs. 2,18,372 lakhs (standalone), with total income at Rs. 2,23,712 lakhs.

• Exceptional items included a profit of Rs. 83,219 lakhs from the sale of land and building, and write-offs of old receivables and inventory totaling Rs. 44,915 lakhs.

• Earnings per share for FY26 stood at Rs. 3.04 (standalone and consolidated).

• Cash and cash equivalents at year-end were Rs. 2,440 lakhs, down from Rs. 14,877 lakhs in the previous year.

Outlook and guidance

• Management asserts the going concern basis is appropriate, citing a large order book (Rs. 18,63,699 lakhs), expected conversion of unbilled revenue, and continued government support.

• The company is executing a major defense contract (ASCON Phase IV) with completion and PoC expected by December 2026.