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Ishan International Limited's Board has convened a meeting, approving unaudited financial results for the half year ending September 30, 2024. Total income stands at ₹30.32 crore, with operational revenue at ₹29.94 crore. Expenses have risen, primarily due to increased material costs and employee benefits, leading to a profit before tax of ₹8.57 crore.
Total assets as of September 30, 2024, are ₹81.85 crore, with shareholders' funds at ₹23.20 crore. Current liabilities increased to ₹57.60 crore, reflecting a rise in financial obligations. The company is still finalizing the utilization of proceeds from an Initial Public Offering (IPO) amounting to ₹18.24 crore. A portion of the proceeds remains unutilized, with approvals sought for extending the timeline for full utilization.
Additionally, Ishan International has entered into a continuous supply agreement with Reliance Industries for products valued at ₹60.68 crore, reflecting strong operational developments. The outlook remains positive, highlighting growth potential amidst ongoing strategic initiatives.