Tunwal E-Motors Reports Audited Financial Results for FY 2026, Receives CRISIL Rating Upgrade
Tunwal E-Motors Limited (formerly known as Tunwal E-Motors Private Limited) announced its audited Standalone and Consolidated Financial Results for the half and full financial year ended March 31, 2026. The Board of Directors approved the results, accompanied by an unmodified audit opinion from M/s. Mittal Agarwal & Company.In other material updates, the company announced a credit rating upgrade from CRISIL Ratings Limited and confirmed the appointment of new internal and tax auditors.
Financial Highlights and Results
The company released detailed audited financial statements for the period ending March 31, 2026.Profit/Loss Statement Summary
The audited financial results show the following key performance indicators for the Standalone and Consolidated reports:
| Particulars | Half Year Ended March 31, 2026 | Year Ended March 31, 2026 |
|---|---|---|
| Total Income | 13,304.62 Lakhs | 27,826.17 Lakhs |
| Total Expenses | 12,739.23 Lakhs | 18,486.82 Lakhs |
| Profit before Tax | 565.40 Lakhs | 1,701.52 Lakhs |
| Profit/(Loss) for the period | 427.03 Lakhs | 1,283.51 Lakhs |
Balance Sheet Comparison
The company's Balance Sheet as at March 31, 2026, showed a total assets figure of 21,757.23 Lakhs, compared to 19,399.26 Lakhs as at the previous year.
| Particulars | As at March 31, 2026 (Audited) | March 31, 2025 (Audited) |
|---|---|---|
| Reserves and Surplus | 1,153.85 Lakhs | 1,106.02 Lakhs |
| Total Assets | 21,757.23 Lakhs | 19,399.26 Lakhs |
Cash Flow Summary (Lakhs)
The Cash Flow Statement details the company's movements during the year:
| Cash Flow Activity | Year Ended March 31, 2026 (Audited) | Year Ended March 31, 2025 (Audited) |
|---|---|---|
| Net Cash Flow from Operating Activities | 904.51 | (5,293.05) |
| Net Cash Flow from Investing Activities | (1,537.64) | (1,627.69) |
| Net Cash Flow from Financing Activities | 272.53 | 7,727.19 |
| Closing Balance of Cash and Cash Equivalents | 711.30 | 1,071.89 |
Operational Updates and Governance Changes
Credit Rating UpgradeOn May 25, 2026, CRISIL Ratings Limited upgraded the credit rating for Tunwal E-Motors Limited's Fund-Based Facilities. The rating was upgraded to CRISIL BBB-/Stable for an enhanced amount of ₹ 60.00 Crore, up from the earlier ACUITE BBB rating for ₹ 15.00 Crore.
Board Approvals and Appointments
The Board of Directors approved several key appointments and noted director changes:
1. Internal Auditor: M/s. Brijesh S. Chandak, Chartered Accountants, was appointed as Internal Auditors for the Financial Year 2026-2027, effective May 25, 2026.
2. Tax Auditor: Pushpak B Mundada & Associates, Chartered Accountants, was appointed as Tax Auditors for the Financial Year 2026-2027, effective May 25, 2026.
Independent Director Resignation
The Board accepted the resignation of Mr. Nagraj Mujumdar, who resigned from the position of Independent Director with immediate effect from May 25, 2026. The resignation was attributed to personal commitments and an inability to devote sufficient time to the company's affairs.
IPO Proceeds Utilization
The company confirmed that there are no deviations or variations in the utilization of the proceeds raised from the Initial Public Offer (IPO) for the year ended March 31, 2026.The utilization breakdown is as follows:
| Particulars | Object of the issue | Utilized till 31.03.2026 (Lakhs) | Pending utilization (Lakhs) |
|---|---|---|---|
| Funding of working capital | 3,500 | 3,500.00 | - |
| Research & Development | 500 | 394.29 | 105.71 |
| Pursuing Inorganic Growth | 500 | 500.00 | - |
| General Corporate Expenses | 2,040.98 | 2,040.98 | - |
| Fresh Issue Expenses | 1,630.52 | 1,630.52 | - |
| Total | 8,171.50 | 8,065.79 | 105.71 |
TUNWAL Stock Price Movement
Today, Tunwal E-Motors Limited shares edged higher by 5.74% to close at ₹35.75. The stock saw a total trading volume of 114,000 shares today, capitalizing on the upward momentum.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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