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UMIYA BUILDCON LIMITED (UMIYA-MRO)

₹92.43 +0.13% last close, 16 Oct

📊 NSE: UMIYA-MRO 🏢 Telecom - Equipment & Accessories 📢 Latest filing: 12 Oct 2026 📝 Analysis written: 13 Nov 2025

Q2 FY27 results

UMIYA BUILDCON LIMITED reported Q2 FY27 results on 12 Oct 2026: revenue ₹18.8 Cr (-8.7% year on year, +15.1% on the previous quarter), and net profit ₹1.9 Cr (-72.3% year on year); the operating margin was 29.9%.

Q2 FY27 (₹ Cr)	Value	YoY vs Q2 FY26	QoQ
Revenue	₹18.8	-8.7%	+15.1%
Operating profit	₹5.6	-51.1%	+23.3%
Net profit	₹1.9	-72.3%	+686.0%
EPS (₹)	0.99	-72.4%	+661.5%
Operating margin	29.9%	—	—

Profit -77% below its own trend
Operating margin contracted 2594 bps YoY

Quality of profit: of pre-tax profit of ₹1.4 Cr, ₹1.1 Cr (82%) came from the core business and the rest from other income and one-off items. Core profit (operating profit less interest and depreciation) moved -85.6% year on year.

Against its own trend: net profit of ₹1.9 Cr was -76.8% against the ₹8.0 Cr its recent growth pointed to (below trend). This is a statistical baseline, not an analyst estimate.

Share price since the results: -2.3% (close before the filing to the latest close).

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

UMIYA-MRO delivery percentage

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

On Fri, 16 Oct 2026, 94.27% of the UMIYA-MRO shares traded on NSE were taken to delivery, against the stock's own 20-session average of 71.46%. That is higher than usual for this stock. Turnover was only ₹1 lakh, so a handful of trades can move this figure. Volume was under a tenth of its average.

94.27%Delivery, 16 Oct

71.46%Own 20-session average

<0.1×Volume vs its average

₹92.43NSE close · +0.13%

Delivery in the last 5 sessions: 81.9% · 79.3% · 81.8% · 92.1% · 94.3%

Delivery across the market →

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

Q2 FY27 Net Profit Falls 60.2% YoY to ₹2.31 Cr Despite Revenue Growth of 78.4%

🔴 NEGATIVE ⭐ 6/10

EARNINGS 📅 12 Oct 2026, 05:48 PM

MRO-TEK Networks (formerly Umiya Buildcon) reported Q2 FY27 standalone revenue from operations of ₹18.79 Cr, up 78.4% YoY from ₹10.54 Cr in Q2 FY26. However, net profit fell 60.2% YoY to ₹2.31 Cr (from ₹5.80 Cr) largely due to lower other income (₹2.07 Cr vs ₹6.33 Cr) and elevated operating expenses. For H1 FY27, total revenue stood at ₹35.15 Cr compared to ₹20.39 Cr in H1 FY26, with net profit declining sharply to ₹4.68 Cr from ₹37.22 Cr, which had been aided by substantial property sale gains in FY26. The company also confirmed its name change from Umiya Buildcon Limited back to MRO-TEK Networks Limited.

Standalone Q2 FY27 revenue from operations grew 78.4% YoY to ₹18.79 Cr (₹1,879.20 Lakhs)
Standalone net profit fell 60.2% YoY to ₹2.31 Cr (₹230.84 Lakhs) from ₹5.80 Cr (₹580.15 Lakhs)
Product segment revenue jumped significantly to ₹11.51 Cr from ₹2.13 Cr in Q2 FY26
Finance costs remained elevated at ₹3.01 Cr for Q2 FY27 compared to ₹2.69 Cr in Q2 FY26
Company name officially changed back from 'UMIYA BUILDCON LIMITED' to 'MRO-TEK NETWORKS LIMITED'

💡 Track the sustainability of hardware/product segment revenue growth and monitor finance costs which continue to consume significant operational profit.

Umiya-MRO Approves Shifting of Registered Office in Bangalore Effective September 9, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Sep 2026, 08:18 PM

Umiya Buildcon Limited (MRO-TEK Networks Limited) has announced the relocation of its registered office within the local limits of Bangalore. The Board approved the shift via a circular resolution on September 7, 2026, moving from New BEL Road (PIN 560054) to Umiya Vellociti on Bellary Road, Hebbal (PIN 560024). The change will be effective from September 9, 2026. This is a purely administrative relocation with no operational or financial impact on the company.

Resolution passed by circulation on 7 September 2026
Effective date of registered office shift is 9th September 2026
Old location: No. 6, New BEL Road, Bangalore - 560054
New location: 12th Floor, Umiya Vellociti, Bellary Road, Hebbal, Bangalore - 560024

💡 Note the new address for official corporate correspondence and statutory filings; no investment action or operational changes are required.

Umiya Buildcon Renamed to MRO-TEK Networks Effective 29 August 2026

🟡 NEUTRAL ⭐ 3/10

OTHER 📅 29 Aug 2026, 05:58 PM

Umiya Buildcon Limited has officially changed its corporate name to MRO-TEK Networks Limited effective 29 August 2026 upon receiving approval from the Registrar of Companies. The rebranding reflects a strategic realignment towards telecom and networking products, including Ethernet switches and routers. The company is reviving its legacy 'MRO-TEK' brand identity while retaining its existing Corporate Identification Number (CIN: L28112KA1984PLC005873). The business generated Rs 73 Cr in TTM revenue with a market capitalization of Rs 177 Cr.

Name change from Umiya Buildcon Limited to MRO-TEK Networks Limited effective 29 August 2026
Approval received from the Registrar of Companies, Ministry of Corporate Affairs
CIN (L28112KA1984PLC005873) and legal status remain unchanged
Scrip identifiers confirmed as NSE: MRO-TEK and BSE: 532376

💡 Track the ticker/symbol updates on trading platforms and observe upcoming quarterly segment reports to see revenue mix shifts between networking equipment and legacy real estate assets.

Umiya Buildcon Approves 5-Year Term for Statutory Auditor and Re-Appoints Independent Director

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 14 Aug 2026, 09:02 PM

Shareholders of Umiya Buildcon Limited approved key governance resolutions at the 42nd Annual General Meeting held on August 13, 2026. Messrs. Ishwar & Gopal has been appointed as the Statutory Auditor for a period of 5 consecutive years starting August 13, 2026. Additionally, Mrs. Neela Manjunath was re-appointed as Non-Executive Independent Director for a second 5-year term effective September 30, 2026. These administrative appointments maintain board continuity and audit compliance.

Appointment of Messrs. Ishwar & Gopal as Statutory Auditors for a 5-year term effective August 13, 2026
Re-appointment of Mrs. Neela Manjunath as Non-Executive Independent Director for a second 5-year term starting September 30, 2026
Resolutions passed by shareholders at the 42nd Annual General Meeting on August 13, 2026

💡 Track the upcoming quarterly financial reporting and ongoing governance oversight as the company proceeds with its business transition.

Umiya Buildcon Concludes 42nd AGM; All Resolutions Passed with Requisite Majority

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Aug 2026, 08:44 PM

Umiya Buildcon Limited submitted the voting results and Scrutinizer's Report for its 42nd Annual General Meeting (AGM) held on August 13, 2026, via Video Conferencing. All resolutions placed before the shareholders were passed with the requisite majority. Out of 11,366 total shareholders on the record date, 55 shareholders (3 promoter and promoter group members and 52 public shareholders) attended the meeting.

42nd Annual General Meeting conducted on August 13, 2026 via Video Conferencing
All resolutions approved with requisite majority per Scrutinizer's Report
55 shareholders attended the AGM (3 promoter group, 52 public)
Total registered shareholder base was 11,366 as of the record date

💡 Track the execution progress of real estate project pipelines and upcoming quarterly financial performance.

42nd AGM: Umiya Buildcon Proposes Increased RPT Limits and CMD Remuneration Hike

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 13 Aug 2026, 06:06 PM

Umiya Buildcon Limited (formerly MRO-TEK Realty) held its 42nd Annual General Meeting on August 13, 2026, to adopt FY26 financial results and seek shareholder approval for several key items. Significant proposals included increasing the limit for material related party transactions (RPT) with Umiya Buildtek and enhancing the remuneration for CMD Mr. Aniruddha Mehta. The company reported a TTM PAT of ₹40 Cr on a revenue of ₹69 Cr, reflecting its strategic pivot toward the Bengaluru real estate market. Voting results are currently pending the scrutinizer's report.

Adoption of FY26 financial statements with TTM revenue of ₹69.03 Cr and OPM of 32.1%
Proposal to increase limits for material related party transactions with Messrs. Umiya Buildtek
Proposed enhancement of remuneration for Chairman and Managing Director Mr. Aniruddha Bhanuprasad Mehta
Appointment of Statutory Auditors for a five-year term starting from the current fiscal
Re-appointment of Mrs. Gauri Aniruddha Mehta as Director and Mrs. Neela Manjunath as Independent Director

💡 Investors should monitor the upcoming Regulation 44 filing for the specific voting results, particularly regarding the approval of increased related party transaction limits and executive remuneration.

₹150 Cr Related Party Transaction Limit Proposed in Umiya Buildcon AGM Notice

🔵 WATCH ⭐ 6/10

BOARD_MEETING 📅 20 Jul 2026, 07:10 PM

Umiya Buildcon Limited (formerly MRO-TEK Realty) has convened its 42nd Annual General Meeting (AGM) for August 13, 2026. A key agenda item is the approval of a ₹150 crore limit for related party transactions with Messrs. Umiya Buildtek, a partnership firm, for one year. This proposed limit is significant, representing approximately 217% of the company's TTM revenue of ₹69 crore. The meeting will also address the appointment of new statutory auditors, Messrs. Ishwar & Gopal, for a five-year term starting FY27.

Proposed ₹150 crore limit for material related party transactions with Umiya Buildtek
42nd AGM scheduled for August 13, 2026, via Video Conferencing
Book closure period set from August 7, 2026, to August 13, 2026
Appointment of Messrs. Ishwar & Gopal as Statutory Auditors for a 5-year term (FY27-FY31)
Cut-off date for e-voting entitlement fixed as August 6, 2026

💡 Investors should review the explanatory statement in the full annual report to understand the nature of the ₹150 crore transactions with Umiya Buildtek and ensure they are conducted at arm's length, given the scale relative to the company's revenue.

Umiya Buildcon Submits Reg 74(5) Compliance Certificate for Quarter Ended June 30, 2026

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 14 Jul 2026, 06:11 PM

Umiya Buildcon Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that the company's Registrar and Share Transfer Agent (RTA), KFIN Technologies Limited, has processed all dematerialization and rematerialization requests for the quarter ended June 30, 2026. This is a standard procedural requirement for all listed companies to ensure the integrity of electronic shareholding records. No material financial or operational updates were disclosed in this document.

Compliance certificate issued for the quarter ended June 30, 2026
Certificate provided by Registrar KFIN Technologies Limited dated July 1, 2026
Filing submitted to NSE and BSE on July 14, 2026
Confirmation that securities details have been furnished to all relevant stock exchanges

💡 This is a routine administrative filing. Investors should focus on the company's upcoming quarterly financial results for updates on business performance and growth.

Umiya Buildcon Q1 FY27: Revenue Up 66% YoY to ₹16.36 Cr; PAT Drops on High Base Effect

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 10 Jul 2026, 05:36 PM

Umiya Buildcon reported a 66% YoY increase in operational revenue to ₹16.36 Cr for Q1 FY27, driven by a sharp recovery in the 'Product' segment. However, Net Profit fell to ₹2.37 Cr compared to ₹31.39 Cr in the same quarter last year, as the previous year's results included a one-time ₹40.42 Cr profit from a property sale. Finance costs remain a significant burden at ₹2.69 Cr, nearly matching the quarter's net profit. The company's balance sheet is now heavily dominated by Real Estate, which accounts for 75% of total assets.

Revenue from operations grew 66% YoY to ₹16.36 Cr from ₹9.86 Cr in Q1 FY26.
Net Profit declined to ₹2.37 Cr from ₹31.39 Cr YoY due to the absence of a ₹40.42 Cr one-time gain recorded in the previous year.
Real Estate segment assets reached ₹212.07 Cr, representing 75% of the total asset base of ₹282.60 Cr.
Finance costs stood at ₹2.69 Cr, consuming 16.4% of the quarterly operational revenue.
Product segment revenue jumped significantly to ₹8.99 Cr from ₹2.13 Cr in the year-ago period.

💡 Investors should monitor the execution and monetization timeline of the ₹212 Cr real estate inventory, as high finance costs continue to squeeze net margins.

Umiya Buildcon Announces Trading Window Closure from July 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Jun 2026, 01:35 PM

Umiya Buildcon Limited has informed the exchanges that its trading window will be closed starting July 1, 2026, in compliance with SEBI insider trading regulations. This closure is mandatory ahead of the declaration of the company's unaudited financial results for the quarter ending June 30, 2026. The window will remain shut for all designated persons until 48 hours after the financial results are officially announced. The specific date for the board meeting to approve these results is yet to be determined.

Trading window closure effective from July 1, 2026.
Closure is related to the unaudited financial results for the quarter ended June 30, 2026.
Window to reopen 48 hours after the official declaration of results.
Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 This is a routine regulatory announcement with no immediate impact on stock fundamentals; investors should monitor for the upcoming board meeting date to review quarterly performance.

Umiya Buildcon Appoints YCRJ and Associates as Internal Auditors for FY 2026-27

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 27 Apr 2026, 06:39 PM

Umiya Buildcon Limited has announced the appointment of Messrs. YCRJ and Associates, Chartered Accountants, as the company's Internal Auditors for the financial year 2026-27. The appointment was approved on April 27, 2026, in compliance with Regulation 30 of SEBI (LODR) Regulations. YCRJ and Associates is an established firm with over 100 professionals and 15 full-time partners. This move is a standard regulatory requirement to ensure internal financial controls and governance.

Appointment of Messrs. YCRJ and Associates as Internal Auditors for the 2026-27 financial year
YCRJ and Associates is a Bangalore-based firm established in 1995 with 15 full-time partners
The audit firm maintains a workforce of 100+ professionals including experienced CAs and retired bankers
The decision was finalized and communicated to exchanges on April 27, 2026

💡 This is a routine administrative and governance-related update; investors do not need to take any immediate action.

Umiya Buildcon FY26 Net Profit Jumps to ₹41.93 Cr on Asset Sale; Revenue Up 11.5%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 27 Apr 2026, 06:31 PM

Umiya Buildcon Limited reported a massive surge in net profit for FY26, reaching ₹41.93 crore compared to ₹5.98 crore in FY25, primarily driven by a one-time gain of ₹40.42 crore from a property sale in Electronic City. Annual revenue from operations grew by 11.5% YoY to ₹54.20 crore, with Q4 revenue showing a strong 59% YoY growth. The company has completed its strategic exit from the EMS business to focus on real estate and solutions segments.

FY26 Net Profit soared to ₹4,193.39 lakhs from ₹597.71 lakhs in FY25, aided by a ₹4,041.95 lakh gain on property sale.
Annual Revenue from Operations increased to ₹5,419.66 lakhs, up from ₹4,857.72 lakhs in the previous year.
Q4 FY26 revenue grew significantly to ₹2,026.20 lakhs compared to ₹1,274.74 lakhs in Q4 FY25.
Basic EPS for the year jumped to ₹22.44 from ₹3.20, reflecting the impact of exceptional income.
The company recognized a one-time loss of ₹315.22 lakhs on the write-off of a factory building and other assets.

💡 Investors should treat the high profit as a non-recurring event due to the asset sale and focus on core operational performance. Monitor the company's execution in the real estate segment to see if it can sustain growth without one-off gains.

Umiya Buildcon Submits SEBI Reg 74(5) Compliance Certificate for Q4 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Apr 2026, 12:23 PM

Umiya Buildcon Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the quarter ended March 31, 2026. The certificate, issued by KFIN Technologies Limited, confirms that all dematerialization and rematerialization requests have been appropriately handled and reported to the exchanges. This is a standard procedural filing required to maintain the integrity of the company's shareholding records. There are no material financial implications or operational updates contained in this specific announcement.

Compliance certificate for the quarter ended March 31, 2026, submitted to NSE and BSE.
KFIN Technologies Limited acted as the Registrar and Share Transfer Agent (RTA) for the process.
Confirms that details of dematerialized/rematerialized securities were furnished to all relevant stock exchanges.

💡 No action is required as this is a routine administrative filing; investors should focus on the company's upcoming quarterly financial results for performance insights.

Umiya Buildcon Promoter Files Annual Declaration Under SEBI Takeover Regulations

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 09 Apr 2026, 04:36 PM

Promoter Aniruddha Bhanuprasad Mehta has submitted the annual disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The declaration, dated April 1, 2026, confirms that the promoter group has not created any new encumbrances on their shareholding during the financial year. This filing includes disclosures for the promoter, Mrs. Gauri Aniruddha Mehta, and Umiya Holding Private Limited. Such filings are mandatory annual requirements to ensure transparency regarding promoter share pledging activities.

Annual disclosure submitted under Regulation 31(4) of SEBI (SAST) Regulations, 2011.
Declaration covers Promoter Aniruddha Bhanuprasad Mehta, Gauri Aniruddha Mehta, and Umiya Holding Private Limited.
Confirms no undisclosed encumbrances or pledges were made on promoter shares during the period.
The filing was submitted to the Audit Committee of Umiya Buildcon Limited and relevant stock exchanges (NSE and BSE).

💡 No action is required as this is a routine regulatory compliance filing. It serves as a confirmation of the status quo regarding promoter share pledging.

Umiya Buildcon Limited Announces Trading Window Closure Starting April 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Mar 2026, 05:38 PM

Umiya Buildcon Limited, formerly known as MRO-TEK Realty Limited, has notified the exchanges regarding the closure of its trading window for designated persons. This closure is effective from April 1, 2026, in anticipation of the audited financial results for the quarter and year ending March 31, 2026. The window will remain closed until 48 hours after the results are officially declared. The specific date for the board meeting to approve these results will be communicated at a later time.

Trading window closure begins on April 1, 2026, for all designated persons.
Closure is related to the audited financial results for the quarter and year ended March 31, 2026.
The window will reopen 48 hours after the announcement of the financial results.
The board meeting date for result approval is yet to be announced.

💡 This is a routine regulatory announcement with no immediate impact on stock fundamentals. Investors should watch for the upcoming board meeting date to assess the company's full-year financial performance.

View All UMIYA-MRO Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue from operations grew by 38.76% YoY, increasing from INR 35.03 Cr in FY2024 to INR 48.61 Cr in FY2025. The growth is driven by the company's expansion into the real estate segment alongside its legacy networking business.

Geographic Revenue Split

Not specifically disclosed in percentages, but the company is headquartered in Bengaluru, Karnataka, and listed on the BSE and NSE, suggesting a primary focus on the Indian domestic market.

Profitability Margins

Net Profit Margin for continuing operations improved to 12.17% in FY2025 (INR 5.92 Cr) from 10.10% in FY2024 (INR 3.54 Cr). Profit before tax margin nearly doubled from 9.98% to 15.43% due to higher operational scale.

EBITDA Margin

EBITDA margin stood at approximately 44.65% in FY2025 (INR 21.71 Cr) compared to 42.40% in FY2024 (INR 14.85 Cr). The high margin is characteristic of the real estate development phase where revenue recognition is accelerating.

Capital Expenditure

The company invested INR 0.81 Cr in Property, Plant, and Equipment in FY2025, a significant reduction from the INR 6.76 Cr spent in FY2024. This suggests a shift from asset-heavy manufacturing setup to project-based real estate development.

Credit Rating & Borrowing

Historical ICRA ratings were withdrawn. Borrowing costs are high, with finance costs of INR 11.10 Cr in FY2025, representing 22.8% of total revenue, indicating a high-leverage model typical for real estate expansion.

⚙️ Operational Drivers

Raw Materials

Key inputs include Land and related development costs (INR 9.66 Cr in FY2025), and networking components such as modems, converters, switches, and multiplexers for the hardware division.

Import Sources

Not disclosed in available documents, though networking hardware components are typically sourced from global electronics hubs like China or Taiwan.

Capacity Expansion

The company pivoted to real estate in 2016. Current inventory of INR 16.96 Cr (up 186.7% YoY) indicates a significant expansion in project pipeline and land bank development.

Raw Material Costs

Cost of materials consumed was INR 11.60 Cr (23.8% of revenue) in FY2025, while land and related costs added another INR 9.66 Cr (19.8% of revenue). Total direct project/product costs represent roughly 43.6% of revenue.

Manufacturing Efficiency

The company is transitioning; networking hardware is now a smaller portion of the value proposition compared to the INR 108.91 Cr held in Investment Property.

Logistics & Distribution

Not disclosed as a specific percentage, but the company maintains a registered office and operations in Bengaluru to serve the regional real estate market.

📈 Strategic Growth

Expected Growth Rate

38.76%

Growth Strategy

The company is achieving growth through a strategic pivot to real estate, evidenced by the name change to Umiya Buildcon Limited in Feb 2025. It is leveraging its land bank (INR 108.91 Cr in investment property) and increasing inventory (up 186.7%) to launch new residential or commercial projects.

Products & Services

Access and Networking equipment (modems, converters, switches, multiplexers) and Real Estate development projects (residential/commercial).

Brand Portfolio

Umiya, MRO-TEK.

New Products/Services

Expansion into larger real estate developments under the 'Umiya Buildcon' brand, expected to be the primary revenue driver over the legacy hardware business.

Market Expansion

Shifted focus from pure technology hardware to the Bengaluru real estate market, targeting high-growth urban development zones.

Strategic Alliances

Operates through subsidiaries including MRO-TEK Private Limited (100% owned) and Umiya Buildtek (66.66% partnership firm).

🌍 External Factors

Industry Trends

The industry is shifting from hardware-centric networking to software-defined solutions, prompting the company's strategic pivot into the more tangible and high-value real estate development sector in India.

Competitive Landscape

Competes with regional real estate developers in Bengaluru and global networking hardware providers like Cisco or D-Link in its legacy segment.

Competitive Moat

The company's moat lies in its significant land bank and investment properties valued at INR 108.91 Cr, providing a low-cost entry into the competitive Bengaluru realty market compared to new entrants.

Macro Economic Sensitivity

Highly sensitive to Indian interest rate cycles and urban housing demand in Bengaluru. Real estate sector growth is typically 1.5x to 2x of GDP growth.

Consumer Behavior

Shift toward premium residential spaces and integrated commercial hubs in tech-cities like Bengaluru.

Geopolitical Risks

Trade barriers on electronic components could impact the legacy MRO-TEK hardware division's margins.

⚖️ Regulatory & Governance

Industry Regulations

Subject to RERA (Real Estate Regulatory Authority) compliance for all property developments and BIS standards for networking equipment.

Taxation Policy Impact

Effective tax rate for FY2025 was 21.07% (INR 1.58 Cr tax on INR 7.50 Cr PBT).

Legal Contingencies

The auditor noted exceptions regarding the maintenance of an 'audit trail' as required under Section 143(3)(j) of the Companies Act, which could lead to regulatory scrutiny.

⚠️ Risk Analysis

Key Uncertainties

High leverage risk with finance costs exceeding net profit; negative operating cash flow of INR 16.89 Cr in FY2025 poses liquidity risks if project sales are delayed.