Canarys Automations Limited Approves Half-Year Financial Results for March 31, 2026

Canarys Automations Limited Approves Half-Year Financial Results for March 31, 2026​

Canarys Automations Limited announced the outcome of its Board of Directors meeting held on May 29, 2026, revealing the audited standalone and consolidated financial results for the half year and financial year ended March 31, 2026. The board also approved the re-appointment of the company's internal auditor.

The company reported significant figures across its segments, with the Technology Solutions segment contributing substantial revenue.

Financial Highlights for Half Year Ended March 31, 2026​

The consolidated financial statements showed total income of 9,802.80 Lakhs, matching total expenses of 8,750.08 Lakhs. The total profit for the year amounted to 574.30 Lakhs.

The segment reporting provided a detailed breakdown of the company's operational performance:


In the standalone financials for the half year ended March 31, 2026, total income reached 5,611.64 Lakhs, and the profit before tax stood at 1,060.63 Lakhs.

The company’s total assets at the end of the period amounted to 12,704.74 Lakhs, compared to 11,560.08 Lakhs at March 31, 2025. The total equity and liabilities stood at 14,058.41 Lakhs for the same period.

Key Corporate Governance Updates​

At the board meeting, the following corporate governance matters were addressed and approved:

• Internal Audit: The board approved the re-appointment of M/s. Sachin Hareesh & Associates, Chartered Accountants, as the Internal Auditor of the Company for the Financial Year 2026-2027.
• Financial Results: The board considered and approved the Audited Standalone and Consolidated Financial Results for the half year and financial year ended March 31, 2026, along with the Statutory Auditors’ report.

Review of Fund Utilisation​

The company also provided statements detailing the utilization of proceeds from previous capital raises.

1. IPO Proceeds Utilization
The statement on the utilization of Initial Public Offer (IPO) proceeds indicated that the total funds raised were 4,703.32 Lakhs. The utilization strategy included:

• Funding expenditure relating to solutions development for digital transformation and water resources management solutions (Object-I): 1,100.00 Lakhs
• Funding working capital requirements (Object-III): 1,500.00 Lakhs
• General corporate purposes (Object-IV): 609.32 Lakhs
• Issue Related Expenses (Object-V): 600 Lakhs
• New Object: Strategic investment by way of acquisition of equity shares of Fortira Inc., USA: 894.00 Lakhs

The modification in the object of the issue for Strategic investment by way of acquisition of equity shares of Fortira Inc., USA, was noted as having been approved by the shareholders on December 04, 2024.

2. Preferential Issue Proceeds Utilization
Regarding the conversion of warrants into equity shares, the total estimated allocation was up to 1,050.00 Lakhs. The fund utilization showed:

• Working Capital: 357.19 Lakhs utilized against an estimated allocation of up to 787.50 Lakhs.
• General Corporate Purpose: 119.06 Lakhs utilized against an estimated allocation of up to 262.50 Lakhs.

The company noted that there was no deviation or variation in the utilization of proceeds from both the Initial Public Offer and the Preferential Issue (Conversion of Warrants into Equity Shares).

CANARYS Stock Price Movement​

Today, Canarys Automations Limited shares edged higher to finish the session at ₹21.55, rallying by 9.67% in after-hours trading. The solid gains were supported by a trading volume of 176,000 shares today.