How did Incredible Industries perform in FY26?

Revenue rose 11% to ₹840.3 crore, but net profit fell 7.8% to ₹11.5 crore. The company's Q4 quarter was weaker than the full-year average.

Were there any audit concerns?

No. The audit report was unmodified, meaning the auditors signed off without qualifications. No exceptional items were reported in the results.

Why is profit down if revenue grew?

The filing does not detail the cause. The 11% revenue growth did not translate into higher profit, implying costs or other expenses rose faster than sales.

Earnings · Steel & Iron Products · Micro cap

Incredible Industries' revenue grows 11% but profit slips 7.8%

Full-year revenue hit ₹840.3 crore, but net profit fell to ₹11.5 crore. Q4 performance was weaker, though the audit was clean.

INCREDIBLE By Tipsheet Editorial 29 May 2026 · 9:56 PM IST Verify on BSE · NSE

Mkt cap₹162 cr

P/E14.04×

ROE8.60%

Debt / eq.0.13

₹840.3 cr Full-year revenue for FY26, up 11%

What's new

Incredible Industries' full-year revenue grew 11% to ₹840.3 crore.
Net profit declined 7.8% to ₹11.5 crore for the year.
Q4 was weaker, and the audit report was unmodified with no exceptional items.

Why this matters

The divergence between top-line growth and a profit decline points to margin pressure. For a nano-cap, that's a signal worth watching, even if the audit itself is clean.

What we're watching

Whether Q4 weakness is a one-off or a trend into FY27.
Management commentary on what squeezed margins in a growth year.
Any cost structure changes flagged in the full results.

The full read

Incredible Industries posted 11% revenue growth in FY26, hitting ₹840.3 crore. But the bottom line didn't follow. Net profit slipped 7.8% to ₹11.5 crore, with the fourth quarter notably softer. The audit was clean. No exceptional items. For a nano-cap, this is a standard disclosure with no red flags, but the profit-margin compression in a growth year is the detail to unpack. The results themselves are routine.

Questions answered

How did Incredible Industries perform in FY26?: Revenue rose 11% to ₹840.3 crore, but net profit fell 7.8% to ₹11.5 crore. The company's Q4 quarter was weaker than the full-year average.
Were there any audit concerns?: No. The audit report was unmodified, meaning the auditors signed off without qualifications. No exceptional items were reported in the results.
Why is profit down if revenue grew?: The filing does not detail the cause. The 11% revenue growth did not translate into higher profit, implying costs or other expenses rose faster than sales.

Mentioned: Incredible Industries Ltd. · ₹840.3 cr revenue · ₹11.5 cr net profit

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

Incredible Industries Ltd.

Steel

₹157 cr

P/E 13.60×

Latest quarter · Mar 2026

Sales₹219 cr

Net profit₹5 cr

Op. margin+3.7%

EPS₹0.97

Strength & growth

Debt / equity0.13×

Current ratio3.30×

Sales CAGR+7.4%

EPS CAGR+20.0%