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Indian Hume Pipe Company Limited (INDIANHUME)

₹358.40 +4.17% last close, 16 Oct

📊 NSE: INDIANHUME 🏢 Construction 📢 Latest filing: 07 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Indian Hume's revenue was ₹303 Cr (-1.4% year on year, -13.7% on the previous quarter), and net profit ₹23.6 Cr (+7.1% year on year); the operating margin was 9.8%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹303	-1.4%	-13.7%
Operating profit	₹29.8	-12.5%	-21.7%
Net profit	₹23.6	+7.1%	+2.5%
EPS (₹)	4.47	+7.5%	+2.5%
Operating margin	9.8%	—	—

Full quarterly financials → Results calendar →

INDIANHUME delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 17.43% of the INDIANHUME shares traded on NSE were taken to delivery, against the stock's own 20-session average of 48.36%. The price rose 4.17% on unusually low delivery, so more of the move than usual was intraday trading. It traded 3.1 times its average daily volume.

17.43%Delivery, 16 Oct

48.36%Own 20-session average

3.1×Volume vs its average

₹358.40NSE close · +4.17%

Delivery in the last 5 sessions: 55.8% · 46.6% · 13.8% · 10.1% · 17.4%

Delivery across the market →Unusual volume today →

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

Indian Hume Pipe Submits Regulation 74(5) Demat Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 07 Oct 2026, 03:27 PM

The Indian Hume Pipe Company Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued on October 7, 2026, by the company's Registrar and Transfer Agent, MUFG Intime India Private Limited. It confirms that share certificates received for dematerialisation during the period were verified, mutilated, cancelled, and substituted within the required regulatory timelines. This is a standard procedural regulatory filing with no impact on earnings or business operations.

Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
Covers the quarter ended 30th September 2026
Issued by RTA MUFG Intime India Private Limited dated 7th October, 2026
Confirms mutilation and cancellation of physical share certificates within prescribed timelines

💡 No investor action required. Investors should monitor upcoming board meeting announcements for the Q2 FY27 financial results.

Indian Hume Pipe Receives ₹1.31 Cr Relief in GST Appeal Covering FY21 & FY22

🟢 POSITIVE ⭐ 3/10

LEGAL 📅 05 Oct 2026, 02:45 PM

The Indian Hume Pipe Company Limited has secured full relief of ₹1,30,54,437 (~₹1.31 crore) through an Order in Appeal dated September 30, 2026, issued by the Commissioner of Appeals, CGST Bhopal. The appeal dismissed a previously disputed liability stemming from an Order in Original dated January 14, 2025, which imposed ₹34.99 lakh in interest and ₹95.55 lakh in penalty under the GST Acts. The dispute pertained to alleged delayed tax payments and Input Tax Credit (ITC) disallowances for FY21 and FY22. The relief represents approximately 0.9% of the company's TTM PAT of ₹144 crore and carries zero adverse financial impact.

Full tax demand relief of ₹1,30,54,437 granted by the Commissioner of Appeals, Bhopal
Relief covers ₹34,99,182 of interest levied under Section 50 of the GST Acts
Penalty of ₹95,55,255 under Sections 73/74 for FY2020-21 and FY2021-22 set aside
Order in Appeal dated September 30, 2026 rules entirely in favor of the company

💡 Track whether the GST Department files an appeal before the GST Appellate Tribunal (GSTAT) or High Court, although current financial liability is fully vacated.

Indian Hume Pipe Receives Rs 40.39 Lakh Income Tax Penalty Order; Plans Appeal

🟡 NEUTRAL ⭐ 2/10

LEGAL 📅 22 Sep 2026, 03:36 PM

Indian Hume Pipe Company has received an assessment order dated September 21, 2026, under Section 270A of the Income Tax Act, 1961, imposing a penalty of Rs 40,39,078 for AY 2024-25. The penalty represents 200% of an alleged under-reported tax amount of Rs 20,19,539, which originated from an arithmetical error of Rs 58,84,439 in the return. The company noted that the rectified tax was already paid on March 31, 2026, and the tax department erroneously applied a 30% tax rate instead of 22%. Given the penalty is negligible relative to TTM PAT of Rs 144 Cr, the company states there is no material operational or financial impact, and it will appeal before CIT (Appeals).

Penalty imposed amounting to Rs 40,39,078 under Section 270A for AY 2024-25
Penalty equals 200% of the disputed tax amount of Rs 20,19,539
Underlying arithmetical error was Rs 58,84,439, which was rectified and tax paid on March 31, 2026
Order computed tax at 30% against the applicable corporate tax rate of 22%

💡 Track the filing and outcome of the rectification petition and appeal before CIT (Appeals), though financial exposure remains immaterial.

Indian Hume Pipe receives Rs 63.11 lakh tax penalty order; to file appeal at ITAT

🟡 NEUTRAL ⭐ 3/10

LEGAL 📅 15 Aug 2026, 02:53 PM

The Commissioner of Income Tax (Appeals) has confirmed a penalty of Rs 63,10,816 against Indian Hume Pipe Company for Assessment Year 2023-24 under Section 271AAC(1). The penalty arises from an assessment addition of Rs 10,51,80,264 concerning alleged unexplained purchases. The company's primary quantum appeal challenging the underlying addition is already pending before the ITAT Mumbai. Indian Hume plans to appeal this penalty confirmation before ITAT Mumbai and expects no material financial impact.

Penalty of Rs 63,10,816 confirmed by CIT(Appeals) under Section 271AAC(1) for AY 2023-2024.
Root cause is an assessment addition of Rs 10,51,80,264 for alleged unexplained purchases.
Quantum appeal challenging the base addition was filed on 29/10/2025 and remains pending before ITAT Mumbai.
Company to appeal the penalty order dated 14th August 2026 before ITAT Mumbai.

💡 Track the outcome of the quantum and penalty appeals pending before the ITAT Mumbai during upcoming quarterly disclosures.

Rs 4,731 Cr Order Book; INDIANHUME Q1 PAT up 7.5% with Strong Real Estate Monetization

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Aug 2026, 05:29 PM

Indian Hume Pipe reported a steady Q1 FY27 with a net profit of Rs 23.57 Cr, up 7.5% YoY, despite a marginal revenue dip to Rs 302.81 Cr. The order book has grown significantly to Rs 4,730.69 Cr, representing approximately 3.6x TTM revenue, providing strong long-term visibility. Real estate monetization in Pune is progressing well, with the company's share of booked agreement value reaching Rs 379.1 Cr across two major projects. Notably, treasury income of Rs 12.57 Cr now exceeds finance costs of Rs 10.54 Cr, reflecting a healthier balance sheet driven by land monetization cash flows.

Order book reached Rs 4,730.69 Cr as of August 4, 2026, a 20% increase from Rs 3,944.87 Cr in July 2025.
EBITDA margins expanded by 60 basis points to 15.43% in Q1 FY27 compared to 14.83% in Q1 FY26.
New orders worth Rs 1,089 Cr from Rajasthan and Telangana are scheduled to commence execution in Q3 FY27.
Company's share of booked real estate value in Pune projects stands at Rs 379.1 Cr, with Rs 246.35 Cr in advances already received.
Treasury income of Rs 12.57 Cr exceeded finance costs of Rs 10.54 Cr for the quarter, indicating reduced debt reliance.

💡 Watch for the commencement of the Rajasthan (Rs 630 Cr) and Telangana (Rs 459 Cr) projects in Q3 FY27 and the receipt of Occupation Certificates for 5 towers in the Dosti Greenscapes project within this fiscal year.

Indian Hume Pipe Q1 PAT up 7.5% YoY to ₹23.57 Cr; Revenue flat at ₹302.81 Cr

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 12 Aug 2026, 05:14 PM

Indian Hume Pipe reported a stable Q1 FY27 with Net Profit rising 7.5% YoY to ₹23.57 Cr, despite a marginal 1.5% decline in operational revenue to ₹302.81 Cr. Profitability was supported by a 43% increase in other income to ₹16.97 Cr and a significant 11.7% reduction in finance costs to ₹10.54 Cr. The construction segment remains the sole revenue driver as no real estate income was recognized this quarter. The company recently distributed a ₹5.00 per share dividend, including a ₹3.00 special centenary dividend, following its land monetization strategy.

Net Profit increased to ₹23.57 Cr in Q1 FY27 from ₹21.92 Cr in Q1 FY26.
Revenue from operations marginally declined to ₹302.81 Cr compared to ₹307.43 Cr YoY.
Finance costs dropped 11.7% to ₹10.54 Cr from ₹11.94 Cr, indicating successful debt reduction.
Other income rose to ₹16.97 Cr from ₹11.87 Cr in the corresponding quarter last year.
Paid-up equity share capital remains steady at ₹10.54 Cr with an EPS of ₹4.47 for the quarter.

💡 Investors should monitor the execution pace of the 'Har Ghar Jal' projects, which comprise 90% of the order book. The continued reduction in finance costs is a positive trend to watch in upcoming quarters as a measure of balance sheet strengthening.

100th AGM: Indian Hume Pipe Shareholders Approve FY26 Financials and Dividend

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Aug 2026, 06:55 PM

Indian Hume Pipe Company Limited successfully concluded its 100th Annual General Meeting on August 3, 2026. Shareholders approved all five resolutions, including the adoption of FY26 audited financial statements (Revenue: Rs 1,305 Cr, PAT: Rs 142 Cr) and the declaration of a dividend. A special resolution was passed for the re-appointment of Ms. Anima B. Kapadia as a Non-Executive Director, who has reached the age of 75. The company continues to leverage its 19-factory network to service its order book, which is 90% concentrated in the Har Ghar Jal Scheme.

100th Annual General Meeting concluded on August 3, 2026, with all resolutions passed by requisite majority.
Shareholders approved the FY26 Audited Financial Statements featuring a TTM Revenue of Rs 1,305 Cr.
Special Resolution passed for the re-appointment of Ms. Anima B. Kapadia (aged 75) as Non-Executive Director.
Dividend for the Financial Year ended March 31, 2026, was formally declared and approved.
66 members participated in the meeting conducted via Video Conferencing.

💡 Investors should monitor the upcoming dividend payment timeline and the company's progress in executing its 90% government-linked order book under the Har Ghar Jal Scheme.

100th AGM: Indian Hume Pipe Approves FY26 Financials and Dividend Declaration

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Aug 2026, 04:42 PM

Indian Hume Pipe Company Limited concluded its 100th Annual General Meeting on August 3, 2026. Shareholders approved the audited financial statements for FY26, which reported a TTM revenue of ₹1,305 Cr and a PAT of ₹142 Cr. Key resolutions passed include the declaration of a dividend for FY26 and the re-appointment of Ms. Anima B. Kapadia as a Non-Executive Director. The meeting also ratified the remuneration for the Cost Auditor for the 2026-27 fiscal year.

100th Annual General Meeting successfully concluded on August 3, 2026, within 51 minutes.
Shareholders approved the adoption of Audited Financial Statements for the year ended March 31, 2026 (TTM Revenue: ₹1,305 Cr).
Special resolution passed for the re-appointment of Ms. Anima B. Kapadia, who attained the age of 75 on July 4, 2026.
66 members attended the meeting through Video Conferencing/Other Audio Visual Means.
Dividend for FY26 was declared and approved by members with the requisite majority.

💡 Investors should monitor the official dissemination of voting results for the specific dividend amount and payment timeline. Focus remains on the execution of the ₹1,305 Cr revenue base and the 90% order book concentration in the Har Ghar Jal scheme.

Indian Hume Pipe submits Regulation 74(5) Demat Certificate for Quarter Ended June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jul 2026, 10:24 AM

Indian Hume Pipe Company Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document confirms that for the quarter ended June 30, 2026, all share certificates received for dematerialization were processed, mutilated, and cancelled as per regulatory requirements. The Registrar and Transfer Agent, MUFG Intime India Private Limited, verified that the names of depositories were updated in the register of members. This is a standard procedural filing with no impact on the company's financial position or operations.

Quarterly compliance completed for the period ending June 30, 2026
RTA MUFG Intime India Private Limited issued the confirmation on July 1, 2026
Confirmation that securities are listed on stock exchanges where earlier securities were listed
Verification that share certificates were mutilated and cancelled within prescribed timelines

💡 This is a routine administrative update. Investors should monitor the company for upcoming Q1 FY27 earnings results for material business updates.

Rs 738.61 Cr Order Win from Rajasthan PHED for Water Supply Project

🟢 POSITIVE ⭐ 9/10

EXPANSION 📅 03 Jul 2026, 12:47 PM

Indian Hume Pipe Company Limited has secured a significant work order worth Rs 738.61 Crores from the Public Health Engineering Department (PHED), Rajasthan. This single order represents approximately 56.6% of the company's TTM revenue of Rs 1,305 Crores, providing substantial revenue visibility. The project involves the design and build of a Narmada-based water supply system for 275 villages in Barmer district, funded by JICA. The execution period is set for 24 months, followed by a 10-year operation and maintenance (O&M) commitment.

Total order value of Rs 738.61 Crores including GST, representing ~56.6% of TTM revenue
Project execution timeline of 24 months for the design and build phase
Long-term 10-year Operation and Maintenance (O&M) period following a 1-year defect notification period
Project covers 275 villages in Dhorimanna and Chouhtan blocks under JICA-funded Rajasthan Rural Water Supply Phase II
Contract awarded on an Item Rate basis for design and build services

💡 Investors should monitor the company's quarterly execution progress and operating margins, as the construction industry is sensitive to raw material price fluctuations (steel and cement) during the 24-month execution window.

Trading Window Closure for Q1 FY2026-27 Results from July 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Jun 2026, 03:15 PM

Indian Hume Pipe Company Limited has announced the closure of its trading window for all designated persons starting July 1, 2026. This is a standard regulatory procedure under SEBI (Prohibition of Insider Trading) Regulations for the upcoming un-audited financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are declared. The company will announce the specific date for the board meeting to approve these results in a separate future filing.

Trading window closure effective from July 1, 2026.
Restriction applies to the reporting period for the quarter ended June 30, 2026.
Window to reopen 48 hours after the declaration of un-audited financial results.
Applies to Promoters, Directors, and Designated Persons as per the Company's Code of Conduct.

💡 Monitor the exchange for the announcement of the board meeting date, which will indicate when the Q1 FY2026-27 financial results will be released.

Indian Hume Pipe FY26 PAT at ₹141 Cr; Special Dividend Announced; Pledge Released

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 14 May 2026, 06:56 PM

Indian Hume Pipe reported a decrease in FY26 revenue to ₹1,305.57 crore from ₹1,491.23 crore, primarily due to monsoon-related delays in Jal Jeevan Mission projects. However, EBITDA margins improved by 152 basis points to 14.60%, and the company successfully reduced borrowing costs by ₹14.93 crore. A total dividend of ₹5 per share was recommended, including a ₹3 special dividend for the company's 100th anniversary. Significant progress was noted in real estate monetization in Pune and Hyderabad, alongside a credit rating upgrade and the release of a 22.20% promoter share pledge.

Total dividend of ₹5 per share (250%) recommended, including a ₹3 special dividend for the 100th anniversary.
Order book stands strong at ₹4,118.97 crore as of May 2026, with an additional L1 status in a ₹625.94 crore project.
Exceptional gain of ₹64.33 crore recorded from the sale of surplus land in Hyderabad.
Release of pledge on 1,16,94,995 equity shares (22.20% of capital) previously held by the promoter group.
Long-term credit rating upgraded to A (Stable) from A- (Stable) and short-term rating to A1 from A2+.

💡 Investors should view the margin expansion, debt reduction, and pledge release as strong indicators of improving financial health. The steady cash flow from real estate joint ventures and a robust order book provide a solid foundation for future growth despite short-term revenue volatility.

Indian Hume Pipe Declares ₹5 Dividend (250%) and Reports FY26 Results; Record Date July 17

🟢 POSITIVE ⭐ 8/10

DIVIDEND 📅 14 May 2026, 06:52 PM

Indian Hume Pipe Company has recommended a total dividend of ₹5 per share (250% of face value), which includes a ₹3 special dividend to celebrate its 100th anniversary. For the full financial year 2025-26, the company reported a net profit of ₹141.11 crore on a revenue of ₹1,305.57 crore. The board has fixed July 17, 2026, as the record date for the dividend payout. While the bottom line appears lower than FY25, it is important to note that the previous year's profit of ₹558.05 crore was significantly inflated by a massive exceptional gain of ₹545.22 crore.

Total dividend of ₹5 per share (₹2 normal + ₹3 special) on face value of ₹2
FY26 Revenue from operations stood at ₹1,305.57 crore vs ₹1,491.23 crore in FY25
Net Profit for FY26 reached ₹141.11 crore, supported by an exceptional gain of ₹64.33 crore
Record date for dividend entitlement is July 17, 2026, with payment within 30 days of AGM approval
Company is celebrating its 100th anniversary (established in 1926)

💡 Investors interested in the 250% dividend yield should ensure they hold shares before the July 17 record date. The special dividend marks a significant milestone, though investors should monitor the core construction segment's revenue growth which saw a slight decline this year.

Indian Hume Pipe Reports FY26 Results; Declares ₹5 Dividend Including 100th Anniversary Special

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 14 May 2026, 06:49 PM

Indian Hume Pipe reported a steady core performance for FY26 with profit before exceptional items rising to ₹123.35 crore from ₹118.07 crore YoY. To celebrate its 100th anniversary, the company declared a total dividend of ₹5 per share (250%), which includes a ₹3 special dividend. Although total revenue from operations declined by 12.4% to ₹1,305.57 crore, the underlying profitability remains stable. The board has fixed July 17, 2026, as the record date for the dividend entitlement.

Total dividend of ₹5 per share (250% on FV of ₹2), including a ₹3 special dividend for the 100th anniversary.
Core profit before exceptional items grew to ₹12,334.69 lakhs in FY26 from ₹11,806.88 lakhs in FY25.
Revenue from operations for FY26 stood at ₹1,30,556.83 lakhs, a decrease from ₹1,49,123.14 lakhs in the previous year.
Net Profit for FY26 was ₹141.11 crore; the previous year's profit of ₹558.05 crore was significantly higher due to a one-time exceptional gain of ₹545.22 crore.
The company fixed July 17, 2026, as the record date for the dividend and August 3, 2026, for the 100th Annual General Meeting.

💡 Investors should look past the YoY net profit decline caused by last year's high base (exceptional items) and focus on the steady core operating profit and the high dividend yield.

Indian Hume Pipe Sets July 17, 2026, as Record Date for Dividend and 100th AGM

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 14 May 2026, 06:18 PM

Indian Hume Pipe Company Limited has announced July 17, 2026, as the record date to determine shareholder eligibility for dividend payments and participation in its 100th Annual General Meeting (AGM). The company's Register of Members and Share Transfer Books will be closed from July 18, 2026, to August 3, 2026. This is a routine corporate action following the board's proposal for a dividend, which remains subject to shareholder approval at the AGM. Investors must hold the shares by the record date to qualify for the payout.

Record date for dividend eligibility and 100th AGM is fixed for July 17, 2026
Book closure period scheduled from July 18, 2026, to August 3, 2026, inclusive
Dividend payment is contingent upon declaration and approval at the upcoming AGM
The company is marking a significant milestone with its 100th Annual General Meeting

💡 Investors looking to receive the dividend should ensure they own the shares before the July 17 record date. Existing shareholders should monitor the AGM results for the final dividend amount and payment schedule.

View All INDIANHUME Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Construction of utility projects accounts for 90% of turnover. Revenue from operations for H1 FY26 was INR 672.21 Cr, a decrease of 6.44% YoY from INR 718.51 Cr in H1 FY25. However, Q2 FY26 revenue grew 2.94% YoY to INR 364.78 Cr.

Geographic Revenue Split

Not disclosed in available documents. The company operates 19 factories across India and has major land monetization projects in Pune (Maharashtra), Bengaluru (Karnataka), and Hyderabad (Telangana).

Profitability Margins

PAT margin was 3.56% in FY23 compared to 3.79% in FY22. For H1 FY26, PAT grew 27.4% YoY to INR 56.61 Cr from INR 44.42 Cr, driven by lower finance costs and higher-margin product sales.

EBITDA Margin

EBITDA margin significantly improved to 17.30% in Q2 FY26 from 10.44% in Q2 FY25. This improvement is attributed to the share of higher-margin product sales increasing from 18% to 33% of total revenue.

Capital Expenditure

The company completed a capital expenditure of approximately INR 46 Cr for additional capacity, which came on-stream by March 2025.

Credit Rating & Borrowing

Infomerics reaffirmed the rating at IVR A-/Stable for long-term bank facilities and IVR A2+ for short-term facilities. Finance costs for H1 FY26 were INR 24.10 Cr, a reduction of INR 6.12 Cr YoY due to debt reduction from land monetization proceeds.

⚙️ Operational Drivers

Raw Materials

Steel and cement are the primary raw materials for Hume pipes. Rising prices of these materials led to EBITDA margin moderation from 10.51% in FY22 to 9.44% in FY23.

Capacity Expansion

Current capacity includes 19 factories as of March 31, 2025. A recent expansion of INR 46 Cr was completed in March 2025 to support increased demand for water supply projects.

Raw Material Costs

Raw material costs are a significant portion of construction costs; volatility in steel and cement prices directly impacts the 9.44% EBITDA margin as the company operates on tender-based fixed-price contracts.

📈 Strategic Growth

Growth Strategy

Growth is driven by the monetization of surplus land (INR 559 Cr from Bengaluru and INR 139.62 Cr from Pune) to reduce debt and finance costs. Operationally, the company is shifting its mix toward higher-margin product sales (now 33% of revenue) and leveraging the Har Ghar Jal scheme.

Products & Services

Hume pipes, prestressed concrete pipes, and construction services for utility projects, primarily water supply and sewerage.

Brand Portfolio

The Indian Hume Pipe Co. Ltd.

Market Expansion

The company is expanding its presence in the water supply segment, with 90% of its order book now concentrated under the Central Government's Har Ghar Jal Scheme.

Strategic Alliances

Land development alliances with Dosti Realty Ltd. and Kalpataru Ltd. for Pune projects, and a land sale agreement with Godrej SSPDL Green Acres LLP for the Bengaluru property.

🌍 External Factors

Industry Trends

The water supply industry is growing due to the Har Ghar Jal Scheme, which aims to provide tap water to all rural households. The company is positioned to benefit from this through its established track record and pan-India factory network.

Competitive Landscape

Operates in a highly fragmented and competitive industry with numerous local and national players in the construction and pipe manufacturing segments.

Competitive Moat

Moat is built on a 100-year track record and 19 factories located near project sites, which provides a significant cost advantage in transporting heavy concrete pipes compared to centralized competitors.

Macro Economic Sensitivity

Highly sensitive to government infrastructure spending and budgetary allocations for water and sanitation schemes.

Consumer Behavior

Not applicable as the primary customers are government and municipal bodies.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to state and central government construction standards and pollution control norms for its 19 manufacturing units.

Taxation Policy Impact

The company paid INR 77.34 Cr in current tax for the year ended March 31, 2025, specifically related to the gain from the Bengaluru land sale.

Legal Contingencies

The company reported no instances of non-compliance or penalties from stock exchanges or SEBI over the last three years. Specific court case values were not disclosed.