Delta Manufacturing Limited (DELTAMAGNT)
₹55.76 -1.81% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Delta Manufacturing's revenue was ₹19.1 Cr (+33.2% year on year, +3.2% on the previous quarter), and net profit ₹-0.3 Cr (a smaller loss than a year earlier); the operating margin was 9.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹19.1 | +33.2% | +3.2% |
| Operating profit | ₹1.8 | from loss | +166.7% |
| Net profit | ₹-0.3 | loss narrowed | loss narrowed |
| EPS (₹) | -0.29 | loss narrowed | loss narrowed |
| Operating margin | 9.2% | — | — |
DELTAMAGNT delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 86.57% of the DELTAMAGNT shares traded on NSE were taken to delivery, against the stock's own 20-session average of 73.18%. That is close to its usual level. Turnover was only ₹1 lakh, so a handful of trades can move this figure. Volume was 0.5 times its average, well below normal.
Delivery in the last 5 sessions: 76.6% · 71.4% · 54.4% · 65.9% · 86.6%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Delta Manufacturing Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate from Registrar and Share Transfer Agent Purva Sharegistry (India) Pvt. Ltd. pertains to the quarter ended September 30, 2026. It confirms that all securities received for dematerialisation during the quarter were duly processed, confirmed, rejected, or mutilated within prescribed timelines. This is a standard quarterly administrative filing with zero impact on operations or financials.
- Regulation 74(5) compliance confirmed for the quarter ended September 30, 2026
- Certificate issued by RTA Purva Sharegistry (India) Pvt. Ltd. dated October 1, 2026
- Filing submitted to NSE and BSE on October 6, 2026
Delta Manufacturing Limited has informed the exchanges regarding compliance under Regulation 36(1)(b) of SEBI LODR Regulations. The company has sent a letter containing the web-link to its FY 2025-26 Annual Report to members whose email addresses are not registered. Additionally, the company announced that its 44th Annual General Meeting (AGM) is scheduled to take place on Wednesday, September 30, 2026, at 3:30 PM IST via Video Conferencing.
- 44th Annual General Meeting scheduled for Wednesday, September 30, 2026, at 3:30 PM IST via VC/OAVM
- Annual Report for FY 2025-2026 web-link dispatched pursuant to SEBI Listing Regulation 36(1)(b)
- Letter sent to shareholders whose email addresses are not registered with Depository or RTA
Delta Manufacturing Limited has issued the notice for its 44th Annual General Meeting (AGM) scheduled for September 30, 2026 via video conferencing. Key special business resolutions include approving material related party transactions with MMG Ferrites and Myra Mall Management Company. Additionally, shareholders will vote on revising MD Dr. Ram H. Shroff's remuneration up to a cap of ₹1.70 crore per annum through September 30, 2028, notwithstanding inadequate profits or ongoing net losses (TTM net loss stands at ₹11 crore). Book closure is set from September 24 to September 30, 2026.
- 44th AGM scheduled for September 30, 2026 at 3:30 PM IST via VC/OAVM
- Share transfer books and register of members closed from September 24, 2026 to September 30, 2026
- Proposed MD remuneration cap of ₹1.70 crore per annum for Dr. Ram H. Shroff effective April 1, 2026
- Seeking shareholder approval for material related party transactions with MMG Ferrites Pvt Ltd and Myra Mall Management Company Pvt Ltd
Delta Manufacturing Limited has submitted an application on August 14, 2026, to BSE and NSE seeking approval/NOC for the reclassification of Mr. Chand Arora from the 'Promoter Group' category to 'Public Category'. This follows an initial request received on August 5, 2026, and subsequent Board approval on August 12, 2026. The reclassification is procedural and remains subject to stock exchange approval.
- Application submitted to NSE and BSE on August 14, 2026, for promoter reclassification NOC
- Request originally received from Mr. Chand Arora on August 5, 2026
- Board of Directors approved the reclassification request on August 12, 2026
- Final approval is pending receipt of NOC from the stock exchanges under Regulation 31A(8)
Delta Manufacturing Limited reported a consolidated net loss of ₹0.31 Cr for the quarter ended June 30, 2026, a significant improvement compared to a loss of ₹2.18 Cr in the same quarter last year. Total income for the quarter rose 37.3% YoY to ₹19.38 Cr from ₹14.11 Cr. The Board has proposed an increase in remuneration for Managing Director Dr. Ram H. Shroff, effective from April 1, 2026, despite the company's ongoing losses. Additionally, the company is seeking to reclassify a promoter group member holding zero shares to the public category.
- Consolidated net loss narrowed to ₹0.31 Cr in Q1 FY27 from ₹2.18 Cr in Q1 FY26.
- Total income increased by 37.3% year-on-year to ₹19.38 Cr.
- Proposed increase in remuneration for MD Dr. Ram H. Shroff for the period April 2026 to September 2028.
- Reclassification of Mr. Chand Arora (holding 0 shares) from Promoter Group to Public category approved.
- Annual General Meeting (AGM) scheduled for September 30, 2026, to seek shareholder approvals.
Delta Manufacturing reported a consolidated net loss of ₹0.31 Cr for Q1 FY27 (ending June 2026), a significant improvement from the ₹2.18 Cr loss in Q1 FY26. Revenue from operations grew 37.3% YoY to ₹19.38 Cr, driven by the textile segment which is now the company's sole reportable segment. The board approved a remuneration hike for Managing Director Dr. Ram H. Shroff and the reclassification of Mr. Chand Arora (holding 0 shares) from the promoter group to the public category. Despite narrowing losses, the company remains financially strained with a high Debt-to-Equity ratio of 6.88.
- Consolidated revenue for Q1 FY27 rose to ₹19.38 Cr from ₹14.11 Cr in the same quarter last year.
- Net loss for the quarter narrowed to ₹0.31 Cr, compared to a loss of ₹2.18 Cr in Q1 FY26.
- Employee benefit expenses stood at ₹6.45 Cr, representing 33% of quarterly revenue.
- Discontinued operations (Soft and Hard Ferrite business) contributed a small profit of ₹0.15 Cr.
- Promoter reclassification approved for Mr. Chand Arora, who currently holds 0 shares.
Delta Manufacturing reported a consolidated net loss of ₹0.31 crore for Q1 FY27, a significant improvement from the ₹2.18 crore loss reported in Q1 FY26. Revenue from continuing operations grew 38% YoY to ₹19.23 crore, driven by the textile segment. The board has recommended an increase in remuneration for Managing Director Dr. Ram H. Shroff, despite the company's thin net worth of ₹6 crore and high debt-to-equity ratio of 6.88. Additionally, the company is proceeding with the reclassification of a zero-holding promoter to the public category.
- Consolidated net loss narrowed to ₹0.31 crore in Q1 FY27 from ₹2.18 crore in the year-ago period.
- Revenue from continuing operations increased to ₹19.23 crore, up 38% from ₹13.93 crore in Q1 FY26.
- Finance costs surged to ₹0.87 crore, a 443% increase compared to ₹0.16 crore in Q1 FY26.
- Discontinued operations (Ferrite business) turned a small profit of ₹0.15 crore versus a loss of ₹1.76 crore YoY.
- Board approved reclassification of Mr. Chand Arora (holding 0 shares) from Promoter to Public category.
Mr. Chand Arora has submitted a formal request to be reclassified from the 'Promoter/Promoter Group' to the 'Public' category of Delta Manufacturing Limited. As of August 5, 2026, the applicant holds 0% equity shares and has no involvement in the management or operations of the company. This move is a procedural cleanup of the promoter list and does not change the actual control or the 72.12% promoter stake held by other entities. The Board of Directors will review the application in an upcoming meeting.
- Mr. Chand Arora holds 0% equity shares and voting rights in the company as of August 5, 2026
- The request was filed under Regulation 31A of SEBI (LODR) Regulations, 2015
- The applicant has confirmed he holds no special rights or key managerial positions
- Total promoter holding remains significant at 72.12% as per June 2026 filings
- The company reported a TTM loss of Rs 12 crore against a market cap of Rs 62 crore
Delta Manufacturing Limited has received a demand notice from the Maharashtra Industrial Development Corporation (MIDC) for the recovery of GST and interest totaling ₹ 5.94 Lakhs. The demand pertains to the period from July 1, 2017, to September 4, 2022, during which MIDC paid GST on services but failed to collect it from the company. Given the company's TTM revenue of ₹ 62 Cr, this demand represents a negligible 0.10% of annual turnover. The company is currently consulting with experts to file a formal response.
- Total demand amount of ₹ 5,94,081.56 received on July 23, 2026
- Demand covers a 5-year period from July 2017 to September 2022
- Includes a principal GST component of ₹ 4,87,368 and interest of ₹ 1,06,713.56
- The demand represents approximately 0.99% of the company's current Net Worth of ₹ 6 Cr
Delta Manufacturing Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Purva Sharegistry (I) Private Limited, confirms that all dematerialization requests for the quarter ended June 30, 2026, were processed within prescribed timelines. This includes the cancellation of physical certificates and the substitution of depository names in the register of members. This is a routine administrative filing with no impact on the company's financial performance.
- Compliance certificate issued for the quarter ended 30th June, 2026
- Confirmation provided under Regulation 74(5) of SEBI Regulations, 2018
- Registrar Purva Sharegistry (I) Private Limited processed requests for ISIN INE393A01011
- Physical certificates were mutilated and cancelled after due verification
Delta Manufacturing Limited received a GST scrutiny notice (Form GST ASMT-10) on July 2, 2026, from the Nashik tax authorities. The notice identifies discrepancies in Reverse Charge Mechanism (RCM) reporting for the financial year 2023-24. The potential financial impact is estimated at ₹1,77,170, which is negligible compared to the company's TTM revenue of ₹62 Cr. The company is currently consulting tax experts to file a response within the prescribed timeline.
- Notice received on July 2, 2026, from the Deputy Commissioner of State Tax, Nashik.
- Potential financial impact quantified at ₹1,77,170.
- Scrutiny relates to GSTR-3B returns for the full Financial Year 2023-2024.
- Discrepancy specifically concerns Reverse Charge Mechanism (RCM) supplies reporting in GSTR-1.
Delta Manufacturing Limited has announced the closure of its trading window starting July 1, 2026. This closure is in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, for the quarter ending June 30, 2026. The restriction applies to all directors and designated persons to prevent insider trading before financial results are public. The window will reopen 48 hours after the un-audited financial results are submitted to the stock exchanges.
- Trading window closure effective from July 1, 2026.
- Closure is for the purpose of declaring un-audited financial results for the quarter ending June 30, 2026.
- Reopening of the window will occur 48 hours after the results are officially announced.
Delta Manufacturing Limited has successfully resolved a GST scrutiny for the Financial Year 2023-2024 following a notice from the Deputy Commissioner of State Tax, Ambad. The company accepted a discrepancy regarding excess Input Tax Credit (ITC) and paid a tax liability of ₹1,43,456 along with interest of ₹67,986. A separate demand of ₹95,908.23 was withdrawn by the authorities after the company provided satisfactory reconciliations. Consequently, the tax department has issued a drop order, ending the proceedings with no material impact on the company's operations.
- GST scrutiny proceedings for FY 2023-24 have been officially dropped by the tax authorities.
- The company discharged a total financial liability of ₹2,11,442, including ₹1,43,456 in tax and ₹67,986 in interest.
- A contested demand of ₹95,908.23 related to GSTR-9C reconciliations was successfully withdrawn.
- The resolution confirms no material impact on the company's ongoing business operations or financial health.
Delta Manufacturing Limited reported a 10.8% YoY growth in revenue from continuing operations, reaching ₹61.87 crore for FY26. The core business showed strong performance with profits from continuing operations jumping 183% to ₹2.21 crore. However, the company continues to be weighed down by its discontinued operations, which posted a loss of ₹11.35 crore. Consequently, the total comprehensive loss for the year narrowed to ₹9.03 crore compared to a loss of ₹11.72 crore in FY25.
- Revenue from continuing operations increased by 10.8% YoY to ₹61.87 crore in FY26.
- Net profit from continuing operations surged to ₹2.21 crore, up from ₹0.78 crore in the previous year.
- Total comprehensive loss narrowed to ₹9.03 crore for FY26 versus a loss of ₹11.72 crore in FY25.
- Q4 FY26 revenue from operations grew 18.6% YoY to ₹18.49 crore.
- Discontinued operations remain a significant drag with a full-year loss of ₹11.35 crore.
Jaydev Mody, on behalf of the promoter group of Delta Manufacturing Limited, has submitted a formal disclosure confirming that no shares were pledged or encumbered during the financial year ending March 31, 2026. The declaration covers the promoter group and all Persons Acting in Concert (PACs), stating that no direct or indirect encumbrances were made. As of the fiscal year-end, the total number of encumbered shares remains at zero. This annual filing provides transparency regarding the stability of the promoter's equity stake.
- Promoters and PACs report zero encumbrance on shares for the financial year ended March 31, 2026
- Disclosure submitted under Regulation 31(4) and 31(5) of SEBI (SAST) Regulations, 2011
- The filing confirms that no new pledges were created, directly or indirectly, throughout the entire fiscal year
- Maintains a clean shareholding structure with 0% promoter pledge as of March 31, 2026
Financial Performance
Revenue Growth by Segment
Consolidated revenue from operations for H1 FY26 was INR 29.32 Cr, representing a 27% decline from INR 40.17 Cr in H1 FY25. The Hard Ferrites segment contributed INR 29.32 Cr in H1 FY26, while the Textile segment results improved from a loss of INR 1.07 Cr to a profit of INR 0.79 Cr YoY.
Geographic Revenue Split
Not disclosed in available documents, though the company notes performance was affected by slowdowns in both domestic and global markets.
Profitability Margins
Profitability has severely declined; PAT margin worsened by 76% from (10.65)% in FY24 to (18.79)% in FY25. PBT margin similarly dropped 76% to (18.87)% in FY25 due to higher raw material costs and an inability to pass these costs to the unorganized sector.
EBITDA Margin
EBIDTA Margin was (4.32)% in FY25, a 73% deterioration from (2.50)% in FY24, reflecting operational pressure from a liquidity crunch and increased compliance costs.
Capital Expenditure
The company is planning to ramp up incremental machinery and manpower specifically for the textile trim segment to meet expected demand growth, though specific INR figures for planned CAPEX are not disclosed.
Credit Rating & Borrowing
Not disclosed in available documents; however, finance costs for H1 FY26 were INR 1.44 Cr, a 33.6% decrease from INR 2.17 Cr in H1 FY25.
Operational Drivers
Raw Materials
Ceramic powder and general raw materials for hard ferrites and magnets; raw material costs for continuing operations were INR 11.50 Cr in H1 FY26, representing 40.4% of continuing revenue.
Capacity Expansion
The company is expanding capacity in the textile trim segment by adding machinery and manpower to capitalize on the white goods component ecosystem in India.
Raw Material Costs
Raw material costs for continuing operations rose 7% YoY to INR 11.50 Cr in H1 FY26 from INR 10.74 Cr, despite a decline in revenue, indicating significant margin pressure.
Manufacturing Efficiency
Inventory turnover improved by 8% to 1.73 in FY25, and debtors turnover improved by 6% to 3.60, indicating better working capital efficiency despite losses.
Strategic Growth
Growth Strategy
Growth will be driven by restructuring the product portfolio toward technologically advanced components, scaling the textile trim segment, and pursuing a strategy to become net debt-free within 3 years through cost reduction and working capital optimization.
Products & Services
Hard ferrites, textile trims, permanent magnets, ferrite cores, and ceramic powder.
Brand Portfolio
DMG (Delta Manufacturing Group), MMG India, Arrow Textiles.
New Products/Services
Technologically advanced components and sub-systems intended to replace traditional products; specific revenue contribution % not disclosed.
Market Expansion
Focusing on global presence and the Indian electronics manufacturing hub, particularly in the white goods sector.
Strategic Alliances
The company is focusing on partnerships and Joint Ventures (JVs) to capitalize on emerging opportunities; currently has a Joint Venture that contributed a loss of INR 1.50 Cr in H1 FY26.
External Factors
Industry Trends
The industry is shifting toward a robust component ecosystem for electronics and white goods in India; the company is positioning itself by moving from traditional products to advanced components.
Competitive Landscape
Competition includes the unorganized sector, which is currently struggling with higher compliance costs, potentially allowing DML to capture market share through restructuring.
Competitive Moat
The company relies on its long-standing history (incorporated 1982) and its shift toward specialized textile trims and advanced ferrite components to create a competitive niche.
Macro Economic Sensitivity
Highly sensitive to domestic and global market slowdowns and liquidity in the unorganized sector.
Consumer Behavior
Demand is shifting toward technologically advanced components and sub-systems in the electronics and white goods sectors.
Geopolitical Risks
Global market volatility and technological disruption are cited as primary external risks.
Regulatory & Governance
Industry Regulations
Affected by higher compliance costs in the unorganized sector which impacts the broader market dynamics and competitive positioning.
Taxation Policy Impact
The company recorded a tax credit (deferred tax) of INR 0.24 Cr in H1 FY26 due to ongoing losses.
Risk Analysis
Key Uncertainties
High Debt-Equity ratio of 1.86 (up 25% YoY) and a negative Return on Net Worth of (77.80)% pose significant solvency and performance risks.
Technology Obsolescence Risk
The company identifies technological disruption as a major risk and is actively transforming its product line to mitigate this.
Credit & Counterparty Risk
Current ratio is low at 0.70, indicating potential liquidity pressure to meet short-term obligations.
