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Carnation Industries Ltd (530609)

📊 BSE: 530609 🏢 Other Industrial Products 📢 Latest filing: 15 Oct 2026

Q2 FY27 results

Carnation Industries Ltd reported Q2 FY27 results on 15 Oct 2026: revenue ₹1.0 Cr, and net profit ₹0.5 Cr (against a loss a year earlier); the operating margin was 87.6%.

Q2 FY27 (₹ Cr)	Value	YoY vs Q2 FY26	QoQ
Revenue	₹1.0	—	—
Operating profit	₹0.9	from loss	—
Net profit	₹0.5	from loss	—
EPS (₹)	1.53	from loss	—
Operating margin	87.6%	—	—

Turnaround: profit against a loss a year ago

Quality of profit: of pre-tax profit of ₹0.5 Cr, ₹0.5 Cr (99%) came from the core business and the rest from other income and one-off items.

Full quarterly financials → Margins & quality of profit → All Q2 FY27 results → Results calendar →

📢 Recent Corporate Announcements

Carnation Industries Approves Q2 FY27 Unaudited Financial Results

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 15 Oct 2026, 06:23 PM

Carnation Industries Limited announced that its Board of Directors approved the unaudited financial results for the quarter and half year ended September 30, 2026. The meeting commenced at 4:05 PM and concluded at 5:50 PM on October 15, 2026. Detailed financial metrics were not disclosed in the cover filing extract provided. The company operates at a micro-cap size of Rs 35 Cr market cap with TTM revenue of approximately Rs 2 Cr and significant leverage.

Board approved unaudited results for the quarter and half year ended September 30, 2026
Board meeting held on October 15, 2026, from 4:05 PM to 5:50 PM
Statutory Auditors issued a Limited Review Report pursuant to Regulation 33
Financial figures for the quarter were not disclosed in the transmittal extract

💡 Investors should review the detailed Annexure-I financial tables to evaluate revenue trends against past quarters and monitor whether the debt burden of Rs 14 Cr shows signs of reduction.

Carnation Industries Approves Q2 FY27 Unaudited Financial Results

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 15 Oct 2026, 06:16 PM

Board approved unaudited results for the quarter and half year ended September 30, 2026
Board meeting held on October 15, 2026, from 4:05 PM to 5:50 PM
Statutory Auditors issued a Limited Review Report pursuant to Regulation 33
Financial figures for the quarter were not disclosed in the transmittal extract

💡 Investors should review the detailed Annexure-I financial tables to evaluate revenue trends against past quarters and monitor whether the debt burden of Rs 14 Cr shows signs of reduction.

Carnation Industries Board to Consider Q2 FY27 Results on October 15, 2026

🟡 NEUTRAL ⭐ 2/10

BOARD_MEETING 📅 10 Oct 2026, 11:03 AM

Carnation Industries has scheduled a Board of Directors meeting on October 15, 2026, to consider and approve the unaudited financial results for the quarter ended September 30, 2026. The company operates at a modest scale with a TTM revenue of Rs 2 Cr and a market capitalization of Rs 35 Cr. The trading window for designated persons remains closed and will reopen 48 hours after the declaration of the results.

Board meeting scheduled on Thursday, October 15, 2026
Meeting convened to review and approve unaudited financial results for the quarter ended September 30, 2026
Trading window closure previously initiated on September 26, 2026
Trading window to reopen 48 hours post declaration of results

💡 Track the outcome of the board meeting on October 15, 2026, specifically observing whether quarterly revenue and operational profitability can sustain following intermittent zero-revenue quarters in recent years.

Carnation Industries Seeks Rs 150 Cr RPT Limit and MOA Change Post-Insolvency

🔵 WATCH ⭐ 7/10

REGULATORY 📅 03 Aug 2026, 06:16 PM

Carnation Industries has released its FY25-26 Annual Report, marking its first full year since emerging from the Corporate Insolvency Resolution Process (CIRP) in June 2024. The company is seeking shareholder approval for Related Party Transactions (RPT) up to Rs 150 crore for FY 2026-27, a massive figure compared to its TTM revenue of just Rs 2 crore. Additionally, a special resolution is proposed to amend the Memorandum of Association (MOA) to allow for investment and lending activities. Management stated they are scouting for new business opportunities and expect to commence operations in the coming year.

Proposed Related Party Transaction limit of Rs 150 crore for FY 2026-27, which is ~75x the current TTM revenue
Debt-Equity ratio surged to 9.09 in FY26 from 0.07 in FY25 following the NCLT-mandated restructuring
Reported FY26 revenue of Rs 1.7 crore, with the majority generated in the March 2026 quarter
Special resolution proposed to pivot business objects toward financial investments, securities dealing, and lending
Annual General Meeting (AGM) scheduled for August 26, 2026, to vote on these material changes

💡 Investors should monitor the AGM voting results on August 26, 2026, specifically regarding the Rs 150 crore RPT limit and the MOA amendment. The execution of the 'new business opportunities' mentioned by management will be the primary driver for the stock, given the current low revenue base.

Carnation Industries proposes ₹150 Cr Related Party Transactions and pivot to investment business

🔵 WATCH ⭐ 8/10

BOARD_MEETING 📅 03 Aug 2026, 06:08 PM

Carnation Industries has issued a notice for its AGM on August 26, 2026, seeking approval for significant structural changes. Most notably, the company is proposing a Related Party Transaction (RPT) limit of ₹150 crore for FY 2026-27, which is 75x its current TTM revenue of ₹2 crore. Additionally, it seeks to amend its Memorandum of Association to include investment, lending, and dealing in securities as main business objects. Given the company's high debt-to-equity ratio of 9.08 and minimal current operations, these proposals suggest a major pivot in business strategy.

Proposed Related Party Transaction limit of ₹150 crore for FY 2026-27, significantly exceeding current scale.
Amendment of Object Clause to include investment in shares, securities, and providing loans/advances.
AGM scheduled for August 26, 2026, to be held via Video Conferencing.
Re-appointment of Ms. Bhawna Gupta as Director who retires by rotation.
Current TTM revenue stands at only ₹2 crore against a debt of ₹14 crore.

💡 Investors should closely monitor the AGM results and subsequent disclosures regarding the specific nature of the ₹150 crore related party transactions and the execution plan for the new investment/lending business segment.

Carnation Industries Announces Book Closure from Aug 20 to Aug 26 for AGM

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Jul 2026, 05:55 PM

Carnation Industries has announced the closure of its Register of Members and Share Transfer Books from August 20, 2026, to August 26, 2026. This period is designated for the company's Annual General Meeting (AGM) scheduled for August 26, 2026, which will be held via video conferencing. The filing is a standard regulatory requirement under SEBI Regulation 42. Given the company's small scale with TTM revenue of only ₹2 Cr and a high debt-to-equity ratio of 9.08, the AGM may provide necessary updates on operational recovery.

Book closure period set from August 20, 2026, to August 26, 2026
Annual General Meeting (AGM) scheduled for August 26, 2026
Company operates on a small scale with TTM revenue of ₹2 Cr
Promoter holding remains high at 89.98% as of June 2026

💡 Investors should monitor the AGM results for management commentary on how the company plans to address its high debt-to-equity ratio of 9.08 and improve its low revenue base.

Carnation Industries Approves Q1 FY27 Results; Schedules AGM for August 26, 2026

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 30 Jul 2026, 05:26 PM

Carnation Industries has approved its unaudited financial results for the quarter ended June 30, 2026, and scheduled its Annual General Meeting (AGM) for August 26, 2026. The company operates on a very small scale with a TTM revenue of just Rs 2 Cr and carries a high debt-to-equity ratio of 9.08. Investors should monitor the Q1 performance to see if the revenue momentum from the March 2026 quarter (Rs 1.7 Cr) is sustained, as previous quarters in FY26 were near zero. The promoter holding remains high at 90.0%.

Board approved unaudited financial results for the quarter ended June 30, 2026.
Annual General Meeting (AGM) scheduled for August 26, 2026, via video conferencing.
Cut-off date for remote e-voting set for August 19, 2026.
Book closure period announced from August 20, 2026, to August 26, 2026.
Remote e-voting period runs from August 23 to August 25, 2026.

💡 Review the detailed Q1 P&L statement to check for consistent revenue generation, as the company has a history of volatile quarterly sales and high leverage.

Carnation Industries Approves Q1 FY27 Results and Schedules AGM for August 26, 2026

🟡 NEUTRAL ⭐ 5/10

BOARD_MEETING 📅 30 Jul 2026, 05:15 PM

Carnation Industries held a board meeting on July 30, 2026, to approve the unaudited financial results for the quarter ended June 30, 2026. The company has scheduled its Annual General Meeting (AGM) for August 26, 2026, via video conferencing. Key administrative dates include a book closure period from August 20 to August 26, 2026, and an e-voting cut-off date of August 19, 2026. This follows a fiscal year (FY26) where the company reported a small net loss of ‑Rs 0.13 Cr on revenue of Rs 1.7 Cr.

Board approved unaudited financial results for the quarter ended June 30, 2026
Annual General Meeting (AGM) scheduled for August 26, 2026, at 11:00 A.M.
Book closure period set from August 20, 2026, to August 26, 2026
Remote e-voting cut-off date established as August 19, 2026
Board meeting duration was 1 hour and 25 minutes, concluding at 4:35 P.M.

💡 Investors should examine the detailed Q1 FY27 financial results to determine if the revenue growth seen in March 2026 (Rs 1.7 Cr) is sustainable, especially given the company's high debt-to-equity ratio of 9.08.

Board Meeting on July 30, 2026, to Approve Q1 FY27 Financial Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 27 Jul 2026, 11:14 AM

Carnation Industries has scheduled a board meeting for July 30, 2026, to approve unaudited financial results for the quarter ended June 30, 2026. This follows a volatile fiscal year where the company reported zero revenue for three consecutive quarters before a recovery to Rs 1.7 cr in the March 2026 quarter. With a high debt-to-equity ratio of 9.08 and a small market cap of Rs 33 cr, the upcoming results are critical for assessing operational stability. The trading window has been closed since June 27, 2026.

Board meeting scheduled for July 30, 2026, to approve Q1 FY27 results
Trading window closed since June 27, 2026, per SEBI regulations
Company reported a significant recovery in Mar 2026 with Rs 1.7 cr revenue after three quarters of zero revenue
Current debt stands at Rs 14 cr against a net worth of only Rs 2 cr
Promoter holding remains high at 89.98% as of June 2026

💡 Monitor the results on July 30 to see if the revenue momentum from the March 2026 quarter (Rs 1.7 cr) is sustained or if the company reverts to previous periods of zero revenue.

Promoter Vikas Garg Taken into Custody by Enforcement Directorate (ED) on July 14, 2026

🔴 NEGATIVE ⭐ 9/10

LEGAL 📅 16 Jul 2026, 12:26 AM

Carnation Industries has disclosed that its promoter, Mr. Vikas Garg, was taken into custody by the Directorate of Enforcement (ED) on July 14, 2026. The arrest is part of an ongoing investigation under the Prevention of Money Laundering Act (PMLA), 2002, involving transactions with foreign entities and SEBI-registered Foreign Portfolio Investors (FPIs). The company had previously issued disclosures regarding these proceedings on April 19, 2025, and June 23, 2026. While the company maintains that business operations are currently unaffected, the financial amount involved in the investigation is not yet ascertainable.

Promoter Mr. Vikas Garg taken into custody by the ED on July 14, 2026
Investigation conducted under the Prevention of Money Laundering Act (PMLA), 2002
Case involves transactions with foreign entities and SEBI-registered FPIs
Previous related disclosures were made on April 19, 2025, and June 23, 2026

💡 Investors should monitor further legal updates regarding the promoter's custody and any potential expansion of the investigation into the company's corporate finances or management structure.

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