Patel Retail Limited Approves Q1 Results and Announces 19th Annual General Meeting
Patel Retail Limited announced the approval of its unaudited standalone financial results for the quarter ending June 30, 2026, alongside approving the notice for its upcoming 19th Annual General Meeting (AGM). The company also finalized crucial operational dates and appointed a scrutinizer for the AGM.The Board of Directors considered and approved the unaudited financial outcomes for the quarter ended June 30, 2026. These results include key figures across various income streams and expenditures as reported by M/s Kanu Doshi Associates LLP, Statutory Auditors.
Q1 Financial Highlights (Quarter Ended June 30, 2026)
The company's performance metrics for the quarter include:
| Particular | Amount (lakhs) |
|---|---|
| Total Income | 31,023.51 |
| Total Expenses | 29,741.60 |
| Profit before tax | 1,281.91 |
| Total Tax Expenses | 330.31 |
| Net Profit for the period | 951.60 |
As reported in the unaudited financial statements:
| Particulars | Quarter Ended June 30, 2026 (Unaudited) | Year Ended March 31, 2026 (Audited) |
|---|---|---|
| Revenue from operations | 30,953.51 | 104,832.93 |
| Total Income | 31,023.51 | 105,929.42 |
| Total Expenses | 29,741.60 | 100,687.38 |
| Profit for the period | 951.60 | 3,904.89 |
The company's operations are focused solely on the organized retail and processing business segment. The unaudited financial results were reviewed and approved by the Audit Committee of Patel Retail Limited.
AGM and Operational Decisions
The Board also considered and approved the notice for the 19th Annual General Meeting, which is scheduled to be held on Wednesday, September 23, 2026, at 12:00 P.M. (IST). The meeting will be conducted through Video Conferencing (VC) or Other AudioVisual Means (OAVM).
In preparation for the AGM, M/s Deep Shukla & Associates, Proprietor Mr. Deep Shukla, was appointed as the Scrutinizer for conducting Remote E-Voting and E-Voting processes in a transparent manner. The company also approved the book closure period from Wednesday, September 16, 2026, to Wednesday, September 23, 2026, inclusive, for the AGM.
Accounting Changes and Fund Utilization
The management noted changes made to accounting policies regarding Property, Plant & Equipment (PPE). The depreciation method was changed from Written Down Value (WDV) to Straight-Line Method (SLM), recognizing this change as an accounting estimate change that has been applied prospectively. This switch led to a decrease in the depreciation and amortization expense for the quarter ended June 30, 2026, resulting in an approximate increase of 170.94 lakhs to the profit before tax for the quarter.
Additionally, regarding fund utilization, the management provided details on the use of proceeds raised from public and pre-IPO issues (totaling amounts up to 204.21 Crore). The table below summarizes the usage across categories as reported by the company:
| Objects of the Issue | Pre-IPO Amount (lakhs) | IPO Amount (lakhs) | Total Utilized Up To June 30, 2026 (lakhs) | Unutilized Amount (lakhs) |
|---|---|---|---|---|
| Funding working capital requirements of the company | 599.98 | 10,900.02 | N/A | N/A |
| Repayment and/or prepayment of borrowings | - | 5,900.00 | N/A | N/A |
| General corporate purposes | 900.02 | 2,120.99 | N/A | 1,294.75 |
The company reported a balance in the Escrow and monitoring account of Rs 1,391.55 lakhs (excluding interest income & pre-mature charges).
PATELRMART Stock Price Movement
Patel Retail Limited shares slipped by 2.35% today, settling at ₹220.65 after trading in the market session. The stock saw a total volume of 229,290 shares traded during the post-market activity.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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