Integrity Infrabuild Developers Limited (INTEGRITY)
📢 Recent Corporate Announcements
Integrity Infrabuild Developers 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 by MUFG Intime India Private Limited (formerly Link Intime India Private Limited), the company's Registrar and Share Transfer Agent. It confirms that share certificates received for dematerialisation were processed, confirmed or rejected, and cancelled within prescribed regulatory timelines. This filing is entirely procedural and has no impact on operations or financials.
- Regulation 74(5) compliance confirmed for the quarter ended September 30, 2026
- Issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 03, 2026
- Security certificates received for dematerialisation were verified, confirmed/rejected, and cancelled within regulatory timelines
- Filing submitted to the National Stock Exchange on October 06, 2026
Integrity Infrabuild Developers Limited has issued communications to shareholders without registered email addresses, providing weblinks to access the FY 2025-26 Annual Report and the 02nd Annual General Meeting (AGM) notice. The 02nd AGM is scheduled to take place on Thursday, September 24, 2026, at 11:30 AM IST in Vadodara, Gujarat. This filing represents standard regulatory compliance under SEBI LODR Regulations 30 and 36(1)(b).
- 02nd Annual General Meeting scheduled for Thursday, September 24, 2026, at 11:30 AM IST
- AGM to be held at Office No-02 Indiabulls Mega Mall, Jetalpur Road, Akota, Vadodara, Gujarat
- Notice of the 02nd AGM dated August 25, 2026
- Dispatch of weblinks made pursuant to SEBI LODR Regulation 36(1)(b) for unregistered email holders
Integrity Infrabuild Developers Limited has issued the notice for its 2nd Annual General Meeting (AGM) scheduled on Thursday, September 24, 2026. Key agenda items include the adoption of FY26 audited financial statements, the re-appointment of whole-time director Mrs. Disha Keyurkumar Sheth, and the ratification of Rs. 75,000 remuneration for cost auditor M/s. Bhavin R Patel & Associates for FY27. Remote e-voting runs from September 20 to September 23, 2026, with the cut-off date set as September 17, 2026.
- 2nd Annual General Meeting scheduled for September 24, 2026 at 11:30 AM IST
- Cut-off date for remote e-voting eligibility set as September 17, 2026
- Remote e-voting window open from September 20, 2026 (9:00 AM) to September 23, 2026 (5:00 PM)
- Proposed ratification of Rs. 75,000 plus taxes as Cost Auditor remuneration for FY27
Integrity Infrabuild Developers Limited held a Board of Directors meeting on August 25, 2026. The Board approved the draft Directors' Report for the financial year ended March 31, 2026. Additionally, the company scheduled its 2nd Annual General Meeting (AGM) for Thursday, September 24, 2026, at 11:30 AM in Vadodara, Gujarat.
- Board approved the Directors' draft Report for the financial year ended March 31, 2026
- 2nd Annual General Meeting (AGM) scheduled for September 24, 2026, at 11:30 AM
- Meeting took place on August 25, 2026, commencing at 01:30 PM and concluding at 02:10 PM IST
Integrity Infrabuild Developers has approved the allotment of 2,60,000 equity shares at an issue price of ₹108 each upon conversion of warrants to two non-promoter entities. The company received the balance 75% warrant consideration aggregating to ₹2,10,60,000 (₹81 per warrant). Consequently, the paid-up equity capital expanded from ₹4.40 crore to ₹4.66 crore (46,60,000 equity shares). A total of 8,10,000 warrants remain outstanding for conversion within the 18-month tenure.
- Allotted 2,60,000 equity shares of face value ₹10 at an issue price of ₹108 per share (₹98 premium).
- Received balance 75% exercise money totaling ₹2,10,60,000 from two public/non-promoter allottees.
- Paid-up equity share capital increased from ₹4,40,00,000 to ₹4,66,00,000.
- 8,10,000 convertible warrants remain outstanding for future conversion.
Integrity Infrabuild Developers Limited approved the allotment of 2,60,000 equity shares pursuant to the conversion of warrants at an issue price of ₹108 per share (including a premium of ₹98 per share). The company received the remaining 75% balance consideration amounting to ₹2,10,60,000 (₹81 per warrant) from two non-promoter allottees. Consequently, the paid-up share capital increased from ₹4.40 crore (44.00 lakh shares) to ₹4.66 crore (46.60 lakh shares). A total of 8,10,000 warrants remain outstanding for future conversion within 18 months from February 3, 2026.
- Allotment of 2,60,000 equity shares at ₹108 each (face value ₹10 + premium ₹98) on warrant conversion
- Receipt of ₹2,10,60,000 (₹81 per warrant, being 75% balance) from two public/non-promoter entities
- Paid-up equity capital expands by 5.91% from ₹4,40,00,000 to ₹4,66,00,000
- 8,10,000 warrants remain outstanding for conversion within the 18-month tenure
Integrity Infrabuild Developers Limited has responded to an NSE clarification request regarding the format and legibility of its FY26 financial results. The company reported a strong financial performance for the year ended March 31, 2026, with revenue rising 60.3% to ₹174.25 crore and Net Profit jumping 148.6% to ₹6.90 crore. The filing also confirms the full utilization of ₹12 crore raised through its IPO, primarily for machinery and working capital. Additionally, the board has appointed M/s Bhavin R Patel & Associates as Cost Auditors for FY 2026-27.
- Revenue from operations increased to ₹17,424.72 lakhs in FY26 from ₹10,870.38 lakhs in FY25.
- Net Profit (PAT) grew significantly to ₹689.67 lakhs compared to ₹277.44 lakhs in the previous year.
- Fully utilized IPO proceeds of ₹1,200 lakhs, including ₹503 lakhs for machinery and equipment.
- Earnings Per Share (EPS) improved to ₹15.56 from ₹8.95 year-on-year.
- Appointed Cost Auditor for FY 2026-27 with a fixed remuneration of ₹75,000 plus taxes.
Financial Performance
Revenue Growth by Segment
Not disclosed in available documents, though the company is in a growth phase following its conversion from a partnership firm on June 01, 2024.
Geographic Revenue Split
Not disclosed in available documents; however, the company is headquartered in Vadodara, Gujarat.
Profitability Margins
Operating Profit Margin was 10.69% and Net Profit Margin was 0.03% for the period ended March 31, 2025.
Capital Expenditure
Not disclosed in absolute INR Cr, but the company incurred substantial expenses towards business growth and its SME platform listing on the NSE.
Credit Rating & Borrowing
Not disclosed in available documents, but the Interest Coverage Ratio was 5.36 as of March 31, 2025.
Operational Drivers
Raw Materials
Specific raw materials include steel, cement, and bitumen, which are critical for road and motorway construction.
Capacity Expansion
Not disclosed in units, but the company issued 12,00,000 equity shares in May 2025 to fund its growth phase.
Raw Material Costs
Not disclosed as a specific percentage of revenue, but fluctuations in commodity prices for steel, cement, and bitumen are identified as key risks to project margins.
Manufacturing Efficiency
Inventory Turnover Ratio was 79.44 and Debtors Turnover was 17.37 as of March 31, 2025.
Strategic Growth
Growth Strategy
Growth will be achieved through capital raising via an IPO of 12,00,000 shares on the NSE EMERGE SME Platform (listed May 20, 2025) and the conversion from a partnership firm to a public limited company to facilitate expansion in the construction and maintenance of motorways and roads.
Products & Services
Construction and maintenance of motorways, streets, and roads.
Brand Portfolio
Integrity Infrabuild Developers Limited.
External Factors
Industry Trends
The infrastructure industry is characterized by a shift toward digitized compliance management and robust risk protocols to handle commodity price volatility and regulatory changes.
Competitive Moat
The company maintains a competitive advantage through its digitized internal financial controls and an adequate compliance management system for product and safety laws.
Macro Economic Sensitivity
Highly sensitive to interest rate movements and inflationary pressures due to a high Debt-Equity Ratio of 4.16.
Geopolitical Risks
Global economic uncertainties and currency volatility are identified as factors that could influence international project profitability.
Regulatory & Governance
Industry Regulations
Operations are subject to product laws, manufacturing laws, safety laws, and Secretarial Standards (SS-1 and SS-2).
Environmental Compliance
Not disclosed in absolute INR, but the company monitors evolving environmental regulations to avoid penalties.
Legal Contingencies
Not disclosed in available documents; the secretarial audit reported no material weaknesses or reportable non-compliances.
Risk Analysis
Key Uncertainties
Key uncertainties include commodity price fluctuations (steel, cement, bitumen) and labor productivity, which could impact project margins and delivery schedules.
Geographic Concentration Risk
Headquartered in Vadodara, Gujarat; specific project geographic split is not disclosed.
Technology Obsolescence Risk
Internal financial controls have been digitized and embedded in business processes to mitigate reporting risks.
Credit & Counterparty Risk
Debtors Turnover of 17.37 suggests active management of receivables, though the Current Ratio of 0.77 indicates potential liquidity pressure.
