National Standard (India) Ltd
Audited Financial Results of the Company for quarter and financial year ended March 31, 2026
RESULTS
▼ Concern Flagged
MEDIUM RISK
📅 Filed on BSE: 17 Apr 2026, 06:58 PM IST · BSE ID: 88924285-42a8-4eb6-87c4-e32d6d71e3ad
View Original BSE Filing (PDF)
💡
In Simple Terms
Company's annual profit fell 27% this year to INR 965.89 lakhs despite similar revenue, dragged down by sharply higher operating expenses.
🤖 AI Summary
- FY26 net profit INR 965.89 lakhs — down 26.8% from INR 1,319.92 lakhs in FY25
- Total income fell to INR 3,995.77 lakhs from INR 4,046.37 lakhs year-on-year
- Revenue from operations decreased to INR 2,041.81 lakhs from INR 2,232.97 lakhs
- Other expenses surged to INR 634.91 lakhs from INR 215.68 lakhs — 194% increase
- EPS declined to INR 4.83 from INR 6.60 per share; unmodified audit opinion issued
🔢 Key Numbers — exact figures from BSE filing, not rounded
Net profit FY26
INR 965.89 lakhs
-26.8%
Total income FY26
INR 3,995.77 lakhs
-1.3%
Revenue from operations FY26
INR 2,041.81 lakhs
-8.6%
Other expenses FY26
INR 634.91 lakhs
+194.2%
Profit before tax FY26
INR 1,327.93 lakhs
-27.3%
Current tax expense FY26
INR 364.61 lakhs
-28.0%
🏢 How This Affects the Company
Revenue from operations contracted 8.6% to INR 2,041.81 lakhs. Cost of projects remained proportionate, but deterioration in top-line suggests weaker market demand or project execution.
Net profit declined 26.8% to INR 965.89 lakhs; PBT fell to INR 1,327.93 lakhs from INR 1,827.03 lakhs. Other expenses surged 194% to INR 634.91 lakhs (from INR 215.68 lakhs), absorbing margin. Effective tax rate: current tax INR 364.61 lakhs on PBT.
Employee benefits expense increased marginally to INR 12.72 lakhs from INR 8.74 lakhs. Cost of projects (INR 2,020.21 lakhs) tracked revenue decline closely, indicating stable project delivery but lower volume throughput.
Spike in other expenses (194% YoY) is material and concerning — detailed breakdown not disclosed in filing. This erosion of operating leverage raises questions on cost control and sustainability of margins.
👥 What This Means For Shareholders
✅
Action Required
Review Q1 FY27 earnings when filed to assess if FY26 margin decline is stabilizing or accelerating.
👤
Who Is Affected
All equity shareholders. EPS per share fell from INR 6.60 to INR 4.83. Dividend decision (if any) will depend on Board approval in future filings.
🔍
Management Signal
Board approved results but did not disclose dividend or capital allocation decision in this filing. Cost discipline deteriorated sharply — management faces pressure to restore operational efficiency.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q1 FY27 earnings filing — confirm if revenue stabilizes or declines further from INR 2,041.81 lakhs baseline
Management commentary on other expenses spike — company must disclose drivers of 194% increase in INR 634.91 lakhs
Dividend declaration or cash allocation policy — Board approval status critical for shareholder returns post-results
MEDIUM RISK
Profit fell 26.8% while revenue declined 8.6%, indicating margin compression. Unexplained 194% surge in other expenses to INR 634.91 lakhs creates transparency and cost-control concerns. Monitor next quarter closely.
💡 Investor Takeaway
FY26 net profit fell 26.8% to INR 965.89 lakhs on modest 8.6% revenue decline. Other expenses jumped 194% to INR 634.91 lakhs unexpectedly — filing provides no itemized breakdown. EPS compressed to INR 4.83 from INR 6.60. Operational efficiency deteriorated materially.
⚖️ Strengths & Concerns
✅ Positives
- Unmodified audit opinion with clean accounting standards compliance — no audit qualifications or going-concern issues flagged
- Paid-up capital stable at INR 2,000.00 lakhs; other equity increased to INR 26,199.54 lakhs, indicating balance sheet stability
⚠️ Concerns
- Net profit contracted 26.8% YoY to INR 965.89 lakhs despite only 1.3% decline in total income — margin compression evident
- Other expenses exploded 194% to INR 634.91 lakhs from INR 215.68 lakhs with no itemized disclosure — transparency gap on cost drivers