Millworks Technologies delivered stellar FY26 results with revenue growing ~6.8x to ₹148.77 crore and PAT climbing over 7x to ₹36.38 crore. The company, which operates in railways and aerospace, recently expanded via the acquisition of two partnership firms for ₹9 crore. While performance is robust, shareholders should note the minor clerical variance in bank filings identified by auditors and monitor upcoming board remuneration changes approved for the next fiscal year.
Millworks Technologies FY26: Revenue Soars 6.8x, PAT Climbs 7x
Revenue grew to ₹148.77 crore from ₹22.00 crore; Net Profit jumped to ₹36.38 crore from ₹5.12 crore.
Reader Takeaway: Exceptional bottom-line growth fuels momentum, though investors should monitor integration of recent acquisitions and clerical reporting variances.
What just happened
Millworks Technologies, which debuted on the BSE SME platform in July 2026, has posted its annual performance figures for FY 2025-26. The company reported a significant jump in operations, with total income reaching ₹153.40 crore. The earnings per share (EPS) surged to ₹29.54, compared to ₹4.36 in the previous fiscal year.
Strategic Acquisitions
The firm expanded its footprint by acquiring Hindustan Springs Manufacturing Co. and Universal Automobile and Dairy Products through a slump sale. The deal involved a total consideration of ₹9 crore, resulting in the recognition of ₹6.13 crore in goodwill. These units are expected to bolster the company’s precision engineering capacity.
Governance and Observations
The company received an unmodified audit opinion from M/s. Vishnu Daya & Co LLP. Management addressed Note 2.46 in the financial statements regarding a discrepancy in quarterly returns filed with banks. The firm attributed this to year-end book closures and clerical valuation errors, explicitly stating that no material fraud occurred.
What changes now
Shareholders are set to vote on salary revisions for executive leadership during the upcoming Annual General Meeting on September 29, 2026. The proposed remunerations include provisions for annual increments of up to 30% for the Managing Director and Whole-time Directors, signaling management's confidence in the company's scaling trajectory.
What to track next
Investors should look for the successful operational synergy of the newly acquired manufacturing units. Additionally, the market will monitor the company's ability to maintain its margin profile amid the proposed executive salary hikes and ensure improved consistency in bank reporting documentation.