Yash Optics & Lens Confirms No Deviation in IPO Proceeds Utilisation for Quarter Ended March 31, 2026

Yash Optics & Lens Limited has submitted a statement of deviation or variation in utilisation of IPO proceeds under Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for the quarter and financial year ended March 31, 2026. The filing, reviewed by the Audit Committee and taken on record by the Board at their meeting held on May 09, 2026, confirms that there has been no deviation or variation in the use of funds raised through the company's Initial Public Offer.

IPO Fund Raising Details

The company raised funds through its Initial Public Offer, with the issue opening on March 27, 2024 and closing on April 03, 2024. IPO funds were credited to the company's account on April 8, 2024 (INR 45,00,00,000) and April 12, 2024 (INR 8,14,89,600). The key details of the fund raising are summarised below:

Parameter: Details Mode of Fund Raising: Initial Public Issue Issue Opening Date: March 27, 2024 Issue Closing Date: April 03, 2024 Gross Proceeds: Rs. 53,14,89,600/- Net Proceeds: Rs. 49,89,10,000/- Report Period: Quarter ended March 31, 2026 Monitoring Agency: Not Applicable Deviation / Variation: No

Utilisation of IPO Proceeds

As on March 31, 2026, Yash Optics & Lens has utilised Rs. 4822.91 lakhs out of the total net proceeds of Rs. 4989.10 lakhs, leaving an unutilised balance of Rs. 166.19 lakhs. The unutilised amount pertains solely to the purchase of plant and machinery at the existing manufacturing unit. The object-wise breakdown of fund allocation and utilisation is presented below:

Original Object: Original Allocation (in Lakhs) Funds Utilised (in Lakhs) Unutilised Amount till March 31, 2026 (in Lakhs) Funding of Capital expenditure for setting up a manufacturing unit for backward integration: Rs. 1825.00 Rs. 1825.00 NIL Purchase of Plant and Machinery at existing manufacturing unit: Rs. 1185.76 Rs. 1019.57 Rs. 166.19 Repayment/prepayment of certain borrowings availed by the Company: Rs. 600.00 Rs. 600.00 NIL Funding Working Capital Requirements of the Company: Rs. 1000.00 Rs. 1000.00 NIL General corporate purposes: Rs. 378.34 Rs. 378.34 NIL Total: Rs. 4989.10 Rs. 4822.91 Rs. 166.19

Audit Committee and Auditor Observations

The Audit Committee reviewed the utilisation statement and confirmed that there was no deviation or variation in the use of funds raised from the Initial Public Offer. The statutory auditors, Chhogmal & Co., Chartered Accountants (Firm Registration No: 101826W), also submitted a disclosure for utilisation of issue proceeds as on March 31, 2026, corroborating the fund utilisation figures. The auditor's comments on any deviation were recorded as NIL.

The filing was signed by CS Adrata Anil Srivastav, Company Secretary cum Compliance Officer of Yash Optics & Lens Limited, on May 09, 2026, and submitted to the Listing Department of the National Stock Exchange Limited in compliance with SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019.

Yash Optics & Lens Limited, formerly known as Yash Optics & Lens Private Limited, announced its standalone audited financial results for the half-year and year ended March 31, 2026, at a Board of Directors meeting held on May 9, 2026. The results were approved in compliance with Regulation 33 read with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The Board also recommended a maiden final dividend of ₹0.50 per equity share of face value ₹10 each (i.e., 5%) for the financial year 2025–26, subject to shareholder approval at the ensuing Annual General Meeting. The standalone financial results were audited by Chhogmal & Co., Chartered Accountants, who issued an unmodified audit opinion.

Revenue and Operating Performance

The company delivered strong top-line growth during FY26, with revenue from operations rising 24.95% year-on-year to ₹5,398.98 lakh from ₹4,320.85 lakh in FY25. EBITDA increased 17.04% to ₹1,472.82 lakh from ₹1,258.34 lakh in FY25, with EBITDA margins at 27.28% in FY26 compared to 29.12% in FY25. The moderation in margins was primarily attributable to increased employee and expansion-related costs associated with business growth. The following table summarises key income statement metrics:

Metric: FY26 (Audited) FY25 (Audited) Change (%) Revenue from Operations (₹ lakh): 5,398.98 4,320.85 +24.95% Other Income (₹ lakh): 129.43 283.54 — Total Income (₹ lakh): 5,528.41 4,604.39 — EBITDA (₹ lakh): 1,472.82 1,258.34 +17.04% EBITDA Margin (%): 27.28% 29.12% — Profit Before Tax (₹ lakh): 1,240.71 1,298.87 — Net Profit (₹ lakh): 904.81 958.81 —

Half-Year Performance

On a half-yearly basis, revenue from operations for the half-year ended March 31, 2026 stood at ₹3,061.40 lakh, compared to ₹2,337.58 lakh for the half-year ended September 30, 2025, and ₹2,370.77 lakh for the half-year ended March 31, 2025. Net profit for the half-year ended March 31, 2026 was ₹592.71 lakh, compared to ₹312.10 lakh for the half-year ended September 30, 2025, and ₹503.84 lakh for the half-year ended March 31, 2025. The table below presents the half-year performance summary:

Metric: H2 FY26 (31 Mar'26) H1 FY26 (30 Sept'25) H2 FY25 (31 Mar'25) H1 FY25 (30 Sept'24) Revenue from Operations (₹ lakh): 3,061.40 2,337.58 2,370.77 1,950.08 Total Income (₹ lakh): 3,082.27 2,446.14 2,516.86 2,087.53 Total Expenses (₹ lakh): 2,278.95 2,008.75 1,837.73 1,467.79 Profit Before Tax (₹ lakh): 803.32 437.39 679.13 619.74 Net Profit (₹ lakh): 592.71 312.10 503.84 454.97 Basic EPS (₹): 2.39 1.26 2.03 1.85 Diluted EPS (₹): 2.39 1.26 2.03 1.85

Key Expense Breakdown

Total expenses for FY26 stood at ₹4,287.70 lakh compared to ₹3,305.52 lakh in FY25. The increase was driven primarily by higher cost of materials consumed and employee benefits expense, reflecting the company's expanded scale of operations. The table below provides a detailed breakdown of expenses:

Expense Item: FY26 (₹ lakh) FY25 (₹ lakh) Cost of Materials Consumed: 1,821.17 1,017.68 Changes in Inventories: (34.00) (26.24) Employee Benefits Expense: 923.05 740.93 Finance Costs: 100.65 122.67 Depreciation & Amortisation: 260.89 120.34 Other Expenses: 1,215.94 1,330.14 Total Expenses: 4,287.70 3,305.52

Earnings Per Share

Basic and diluted earnings per equity share for FY26 stood at ₹3.65, compared to ₹3.89 in FY25. The company noted that the change in EPS is attributable to capital raised through an initial public offer during the reporting period.

EPS Metric: FY26 FY25 Basic EPS (₹): 3.65 3.89 Diluted EPS (₹): 3.65 3.89

Balance Sheet Highlights

The company's balance sheet reflected significant capital deployment during FY26, with total assets standing at ₹11,537.17 lakh as on March 31, 2026, compared to ₹11,197.79 lakh as on March 31, 2025. Property, Plant and Equipment increased to ₹4,158.04 lakh from ₹2,957.14 lakh, while Capital Work-in-Progress rose substantially to ₹2,237.56 lakh from ₹304.71 lakh, reflecting ongoing investment in the Vapi project. Long-term borrowings declined to ₹450.00 lakh from ₹1,231.00 lakh, and short-term borrowings reduced sharply to ₹3.05 lakh from ₹229.07 lakh, indicating a significant reduction in overall debt levels.

Balance Sheet Item: 31 March 2026 (₹ lakh) 31 March 2025 (₹ lakh) Share Capital: 2,476.56 2,476.56 Reserves and Surplus: 7,469.00 6,560.15 Long-term Borrowings: 450.00 1,231.00 Short-term Borrowings: 3.05 229.07 Property, Plant & Equipment: 4,158.04 2,957.14 Capital Work-in-Progress: 2,237.56 304.71 Inventories: 2,365.64 2,204.71 Trade Receivables: 1,618.92 1,560.95 Cash & Cash Equivalents: 637.30 3,167.20 Total Assets: 11,537.17 11,197.79

Cash Flow Summary

Net cash flow from operating activities improved to ₹1,026.18 lakh in FY26 from ₹567.69 lakh in FY25, reflecting stronger operating cash generation. Net cash flow from investing activities was ₹(704.23) lakh in FY26, compared to ₹(3,709.37) lakh in FY25, with significant capital expenditure on fixed assets and capital work-in-progress. Net cash flow from financing activities stood at ₹(273.09) lakh in FY26. Cash and cash equivalents at the end of FY26 stood at ₹116.04 lakh, compared to ₹67.18 lakh at the end of FY25.

Cash Flow Item: FY26 (₹ lakh) FY25 (₹ lakh) Net Cash from Operating Activities: 1,026.18 567.69 Net Cash from Investing Activities: (704.23) (3,709.37) Net Cash from Financing Activities: (273.09) 3,136.74 Cash & Cash Equivalents (End of Year): 116.04 67.18

Dividend and Corporate Developments

The Board of Directors recommended a maiden final dividend of ₹0.50 per equity share of face value ₹10 each for the financial year 2025–26, subject to approval by shareholders at the ensuing Annual General Meeting. The company is also progressing on its Vapi project, which is expected to further strengthen operational capabilities. The company is engaged solely in the trading and distribution of spectacle and optical lenses and accordingly does not report segment-wise information.

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