Springform Technology Ltd FY26 Results: Rs 1.24 Cr Consolidated Profit, Name Change Proposed

Consolidated Net Profit: Rs 1.24 crore (FY2026)
Revenue/Total Income: Rs 140.67 crore (FY2026)

Reader Takeaway: Positive consolidated profit turnaround, but low capacity utilization and customer concentration are key concerns.

What just happened

Springform Technology Limited, formerly New Sagar Trading Company Limited, has reported its first full fiscal year's consolidated financial results for FY2026, following the acquisition of Inertia Aluminium Private Limited in July 2025. The company achieved a consolidated net profit of Rs 1.24 crore on a revenue of Rs 140.67 crore. The board has also proposed a name change to "Inertia Alu Tech Limited" to reflect its core business in aluminium recycling and flat-rolled product manufacturing.

Why this matters

This marks a significant turnaround as the consolidated entity shows early profitability after the acquisition, contrasting with the standalone entity's loss. The results provide the first clear financial picture of the company's new business direction and performance under the consolidated structure.

The backstory

Springform Technology (formerly New Sagar Trading Company) has been pivoting its business towards aluminium recycling and manufacturing. The acquisition of Inertia Aluminium Private Limited in July 2025 was a key step in this strategic shift, consolidating its operations and financial reporting.

What changes now

The proposed name change to "Inertia Alu Tech Limited" aligns the company's identity with its operational focus. Key proposals at the upcoming AGM include this name change and approval for related party transactions with Inertia Aluminium, up to Rs 100 crore for goods/services and Rs 50 crore for loans.

Risks to watch

Key risks include volatility in aluminium scrap prices, which form about 90% of revenue. Customer concentration is also a concern due to the early stage of the operating business. The company faces a working-capital-intensive cycle due to high inventory requirements for scrap feedstock.

Peer comparison

Springform Technology is positioning itself in the aluminium recycling and flat-rolled products market. Key industry players like Jindal Aluminium are mentioned as customers, indicating market validation. The company's strategy focuses on increasing utilization and internalizing manufacturing processes to compete effectively.

Context metrics (time-bound)

In FY2026, the Rajpura, Punjab facility produced 6,582 tonnes, utilizing approximately 22.85% of its 28,800 TPA installed capacity. Revenue streams are 85% from in-house cast coils and 15% from contract-manufactured cold-rolled sheets.

What to track next

Investors will be keen to monitor the company's progress in increasing plant utilization, commissioning the in-house cold-rolling capacity, and managing raw material price volatility. The AGM on September 18, 2026, will be a key event for corporate decisions.