Aplab Limited (NSE:APLAB) announced its audited financial results for the quarter and year ended March 31, 2026, following a board meeting held on May 26, 2026. The company also disclosed senior management and board-level changes, including appointments of directors and executives alongside resignations of existing officials.

The board approved audited financial results, auditor reports with unmodified opinion, and several leadership appointments effective from June 1, 2026.

Source: Analysis by Kalkine 

FY26 Profit Improves Despite Lower Revenue

Aplab reported revenue from operations of Rs 5,843.53 lakh during FY26 compared with Rs 6,366.68 lakh in FY25. Total income for the financial year stood at Rs 6,177.36 lakh against Rs 6,875.97 lakh in the previous year.

Despite lower revenue, the company posted a profit after tax of Rs 251.67 lakh for FY26 compared with a profit of Rs 26.39 lakh reported in FY25. Profit before tax came at Rs 340.35 lakh during FY26 against a pre-tax loss of Rs 657.03 lakh in the previous year.

For the March 2026 quarter, revenue from operations stood at Rs 1,434.71 lakh compared with Rs 2,393.06 lakh in the corresponding quarter last year. Quarterly net loss for the fourth quarter came at Rs 72.47 lakh against a profit of Rs 704.36 lakh reported during the year-ago period.

Expense Profile Reflects Operational Changes

The company’s total expenses declined to Rs 5,837.01 lakh during FY26 from Rs 7,533 lakh in FY25. Cost of materials consumed rose to Rs 2,634.40 lakh compared with Rs 2,117.46 lakh a year earlier. However, other expenses declined significantly to Rs 1,801.80 lakh from Rs 2,518.23 lakh.

Finance costs during FY26 were reported at Rs 248.22 lakh against Rs 320.03 lakh in FY25, while depreciation and amortisation expenses stood at Rs 46.05 lakh. Employee benefit expenses came at Rs 1,205.80 lakh during FY26 compared with Rs 1,248.27 lakh reported in the previous year.

Labour Code Impact Recognised

Aplab stated that implementation of India’s new labour codes resulted in a one-time increase in employee benefit provisions. According to the company, the estimated incremental impact for FY26 was Rs 58.66 lakh. The company said the assessment was carried out based on the requirements of the new labour codes and guidance issued by the Institute of Chartered Accountants of India.

The labour codes consolidate multiple existing labour regulations into four separate codes relating to wages, industrial relations, social security, and occupational safety.

Board Announces Key Leadership Changes

The board approved the appointment of Mr. Nishith P. Deodhar as Executive Director for a three-year term effective June 1, 2026. Ms. Tanvi Paharia Jain was appointed as Non-Executive Non-Independent Director for a five-year term effective June 1, 2026.

The company also appointed Mr. Ravish N. Modi as Chief Financial Officer effective June 1, 2026. At the same time, the board accepted the resignation of Mrs. Amrita P. Deodhar as Chairperson and Whole-time Director effective from the close of business hours on May 31, 2026. The resignation of Mr. Rajesh K. Deherkar as CFO, Company Secretary and Compliance Officer was also accepted effective May 31, 2026.

Balance Sheet and Cash Position

Total assets stood at Rs 5,806.56 lakh as of March 31, 2026, compared with Rs 6,995.70 lakh reported a year earlier. Trade receivables declined significantly to Rs 862.56 lakh from Rs 2,171.65 lakh in FY25. Cash and cash equivalents increased to Rs 602.56 lakh compared with Rs 253.14 lakh at the end of the previous financial year.

The company’s total equity rose to Rs 2,001.45 lakh as of March 31, 2026, against Rs 1,037.45 lakh reported a year earlier. Total current liabilities declined to Rs 2,977.28 lakh from Rs 4,560.75 lakh in FY25.

Auditors Issue Unmodified Opinion

Statutory auditor R. Bhargava & Associates issued an unmodified audit opinion on Aplab’s standalone financial results for FY26.

The audit report stated that the financial statements presented a true and fair view of the company’s financial position, profit, and other comprehensive income in accordance with applicable accounting standards.

The company separately confirmed that the statutory auditors issued an unmodified opinion under SEBI regulations.

Key Risks Investors Should Track

• Lower revenue trends may affect future operating performance.
• Labour code implementation could increase employee-related expenses further.
• Dependence on electronic equipment demand may affect sales visibility.
• Management transition may influence operational continuity in near term.

Summary

Aplab Limited (NSE:APLAB) reported FY26 profit after tax of Rs 251.67 lakh despite lower annual revenue from operations. The company reduced overall expenses during the year and improved its balance sheet position with higher cash reserves and lower liabilities. Aplab also announced multiple management and board-level changes effective June 2026, while statutory auditors issued an unmodified opinion on FY26 audited financial results.

FAQs

Q: Did Aplab report profit or loss during FY26?
A: Aplab reported a profit after tax of Rs 251.67 lakh during FY26 compared with Rs 26.39 lakh in FY25.

Q: What management changes did Aplab announce in May 2026?
A: The company announced new director and CFO appointments alongside resignations of existing senior executives.

Q: Did Aplab receive a clean audit opinion for FY26 results?
A: Yes, the statutory auditor issued an unmodified opinion on Aplab’s FY26 audited financial statements.