Innovative Tyres & Tubes Limited Approves FY26 Financial Results and Strengthens Board Composition

Innovative Tyres & Tubes Limited Approves FY26 Financial Results and Strengthens Board Composition​

Innovative Tyres & Tubes Limited announced significant corporate governance updates following its Board of Directors meeting held on May 30, 2026. The Board meeting approved the audited financial results for the half year and the full year ended March 31, 2026.

Key governance changes included the appointment of Mr. Kamlesh Joshi as an Independent Director, aimed at strengthening the company’s corporate governance framework. Additionally, Ms. Sneh Chauhan was appointed as the Chairman of the Audit Committee. The Board noted that Mr. Kundankumar Mishra was unable to attend the proceedings due to a critical medical condition.

Financial Performance and Liquidity Snapshot​

The Board of Directors reviewed and approved the audited financial results for the period ending March 31, 2026. During the year, the company registered a profit/(loss) before tax of INR 7731 lakhs and reported a profit/(loss) after tax for the period of (INR 190.79) lakhs.

The Statement of Assets and Liabilities for the year ended March 31, 2026, showed Total Assets at 6,139.70 lakhs. In contrast, Total of Shareholders' Funds stood at (2,029.38) lakhs. Furthermore, the current liabilities exceeded the current assets, with a difference of 2,290.28 lakhs.

Financial Highlights (Figures in Lakhs)​

The following tables summarize the key financial outcomes for the period.

Statement of Financial Results: Income Highlights


Statement of Assets and Liabilities: Balance Sheet Summary

Cash Flow and Audit Details​

The Cash Flow Statement showed that the net increase in cash and cash equivalents was 16.31 lakhs, reaching a closing balance of 16.31 lakhs as of March 31, 2026, compared to 9.21 lakhs in the previous year.

Audit Qualifications and Discontinuing Operations

The audit report included several qualifications affecting the financial results for the year ended March 31, 2026. Key areas of qualification noted by the auditors include:

• Receivables and Advances: The auditors could not verify outstanding receivables and advances, requiring alternative audit procedures.
• MSMED Act: The company has outstanding dues to suppliers beyond the credit period, and the inability to confirm records prevented determining the requisite interest liability under the Micro, Small and Medium Enterprises Development Act, 2006.
• Discontinuing Operation: The Tube Division was qualified as a discontinuing operation under AS 24.
• Export Compliance: Issues related to export sales, including non-receipt of realization within the stipulated period of 9 months, led to non-compliance with export regulations.

Management confirmed that the core business remains the business of Tyres & Tubes and that the company has received an agreement for the sale of its Tubes division for a price of INR 703.00 lakhs, with an advance of INR 9484 lakhs already received.

ITTL Stock Price Movement​

On Friday, shares of Innovative Tyres & Tubes Limited settled flat at ₹83.1, failing to register any change from its prior closing level. The equity maintained complete stability through the close, indicating a level of consolidation among investors.