ITI Ltd Issues Corrigenda for FY26 Financial Results, Revisions Impact Q4 Profit Figures
ITI Ltd has released corrigenda pertaining to its Consolidated and Standalone Audited Financial Results for the Quarter and Year ended March 31, 2026. The corrections address clerical and typographical errors noted in the Statement of Quarterly audited Financial Results for the Fourth Quarter, though the company confirmed that there is no change or impact on the overall profit for the Financial Year ended March 31, 2026.The original results had been submitted following a Board Meeting conducted on May 28, 2026. Upon subsequent verification of the financial statements, ITI Ltd noted the inadvertent errors that occurred while deriving balancing figures between audited full-year data and unaudited year to date figures up to the third quarter ended December 31, 2025.
The details of the clerical errors involve certain expenses items and their consequential effect on profit for the Fourth Quarter ended March 31, 2026.
Key Corrections in Consolidated Financial Results (Q4)
According to Annexure I detailing the changes, several expense heads were revised, leading to an improvement in the reported profits for the quarter.The following table outlines the comparison of key financial metrics related to expenses and profit before tax from the originally reported figures to the substituted figures:
| Particulars | Reported Figures (Q4) (Rs in Lakhs) | Substituted Figures (Q4) (Rs in Lakhs) |
|---|---|---|
| Purchase of stock-in-trade | 129,293 | 43,318 |
| Changes in inventories | (85,803) | (817) |
| Employee benefits expense | 13,612 | 2,991 |
| Finance costs | 8,082 | 4,543 |
| Depreciation and amortisation expense | (9,504) | 1,775 |
| Total Expenses | 72,457 | 66,402 |
| Profit/ (Loss) before exceptional items and tax | (8,368) | (2,313) |
| Profit/ (Loss) for the period | 37,514 | 43,591 |
The corrected figures showed Total Expenses reducing from Rs 72,457 lakhs to Rs 66,402 lakhs. Consequently, the profit before exceptional items and tax increased from (Rs 8,368) lakhs to (Rs 2,313) lakhs for the quarter.
For the entire period, the Total comprehensive Income for the quarter saw an increase in the corrected figures, moving from Rs 37,514 lakhs to Rs 42,761 lakhs. Earnings Per Share (EPS) for both Basic and Diluted, before extraordinary items and prior period Items, moved from 3.90 to 4.53 (both basic and diluted).
Standalone Results and Other Business Updates
The corrigenda covered all financial statements, including Consolidated and Standalone Audited Financial Results, Cash Flow Statements, and Notes. The corrections for the standalone results showed similar adjustments in expenses and profit ratios.In addition to the financial disclosures, ITI Ltd provided several operational updates:
- Debt Write-off: Following Board approval on May 28, 2026, the company identified certain long-outstanding debtors for write-off amounting to Rs 30,167.57 lakhs, which was disclosed under "Exceptional Items."
- Land Monetization: The asset monetization department approved the disposal of surplus land covering parcels D and E (10.275 acres and 44.032 acres respectively). This disposal is confirmed for March 31, 2027, and the land was classified as a non-current asset held for sale.
- Ministry Contract: The company signed a contract on October 10, 2020, with the Ministry of Defence for the execution of Army Static Switched Communication Network (ASCON) Phase IV project worth Rs 8,280.36 Crore, which includes installation, commissioning, and maintenance activities.
ITI Stock Price Movement
As of 12:52 PM, shares of ITI Limited are slipping by 0.78% in live trading, currently registering at ₹294.3 as investors navigate intraday pressures. The stock has seen a traded volume of 187,404 shares so far today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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