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DELTAMAGNT - Delta Manufact.

📊 NSE: DELTAMAGNT 🏢 Electronics - Components 📅 Last Updated: 12/13/2025 21:28

📢 Recent Corporate Announcements

Delta Manufacturing Calls EGM for March 25 to Approve RPTs with MMG Ferrites JV

🟡 NEUTRAL ⭐ 6/10

REGULATORY 📅 27 Feb 2026, 03:06 PM

Delta Manufacturing Limited has convened an Extraordinary General Meeting (EGM) on March 25, 2026, to obtain shareholder consent for material related party transactions with its joint venture, MMG Ferrites Private Limited. Key proposals include the sale of goods valued at ₹1.50 crore and electricity expense reimbursements of ₹3.00 crore for a six-month period. The company also intends to extend an Inter Corporate Deposit of ₹1.00 crore and has established a long-term rental income schedule through 2029.

EGM scheduled for March 25, 2026, to approve transactions with joint venture MMG Ferrites.
Proposed sale of goods worth ₹1.50 crore and services worth ₹2 lakh for a six-month period.
Significant electricity expense reimbursement estimated at ₹3.00 crore for the same period.
Provision for an Inter Corporate Deposit (ICD) of ₹1.00 crore to the related party.
Rental income agreement with tiered increases, reaching ₹7.16 lakh per month by 2029.

💡 Shareholders should monitor the terms of the ₹1 crore Inter Corporate Deposit and the recovery of electricity reimbursements to ensure they are conducted on a strictly arm's-length basis.

Delta Manufacturing Q3 FY26: Revenue Grows to ₹15.93 Cr, Net Loss Narrows to ₹4.35 Cr

🔴 NEGATIVE ⭐ 6/10

EARNINGS 📅 12 Feb 2026, 06:08 PM

Delta Manufacturing reported a standalone revenue of ₹15.93 crore for the quarter ended December 31, 2025, representing a 6.2% year-on-year growth. Despite the revenue increase, the company remains loss-making with a total net loss of ₹4.35 crore for the quarter, largely attributed to a ₹3.83 crore loss from discontinued operations (Hard and Soft ferrite business). For the nine-month period, the net loss narrowed to ₹7.44 crore from ₹11.36 crore in the previous year. Additionally, the board has scheduled an EGM for March 25, 2026, to approve material related party transactions.

Revenue from continuing operations rose to ₹1,593.23 lakhs from ₹1,499.72 lakhs in the same quarter last year.
Total net loss for Q3 FY26 stood at ₹434.84 lakhs, narrowing from a loss of ₹581.74 lakhs in Q3 FY25.
Discontinued operations (Hard and Soft ferrite) contributed a loss of ₹382.72 lakhs during the quarter.
Nine-month revenue reached ₹4,338.23 lakhs compared to ₹4,024.87 lakhs in the previous year.
Extra-ordinary General Meeting (EGM) convened for March 25, 2026, to seek approval for material related party transactions.

💡 Investors should exercise caution as the company continues to report losses and is in the process of exiting discontinued segments. It is critical to monitor the upcoming EGM notice for details regarding the material related party transactions.

Delta Manufacturing Q3 FY26 Results: Revenue Up 6% YoY, Net Loss at INR 4.40 Crore

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 12 Feb 2026, 06:01 PM

Delta Manufacturing reported a standalone revenue of INR 15.93 crore for Q3 FY26, marking a 6.2% increase year-on-year. However, the company posted a total net loss of INR 4.40 crore, largely due to a loss of INR 3.83 crore from its discontinued ferrite business. Profitability from continuing operations also declined, shifting from a profit of INR 91.21 lakhs last year to a loss of INR 52.12 lakhs this quarter. Additionally, an EGM is scheduled for March 25, 2026, to approve material related party transactions.

Standalone revenue from operations increased to INR 1,593.23 lakhs from INR 1,499.72 lakhs YoY.
Total net loss for the quarter narrowed to INR 439.84 lakhs compared to INR 581.74 lakhs in the previous year's quarter.
Discontinued operations (Hard and Soft ferrite) contributed a loss of INR 382.72 lakhs.
Continuing operations recorded a loss of INR 52.12 lakhs, down from a profit of INR 91.21 lakhs YoY.
Board approved an EGM on March 25, 2026, for material related party transaction approvals.

💡 Investors should remain cautious as the company continues to report net losses and faces declining profitability in its continuing operations. Monitor the upcoming EGM for details on related party transactions, which could impact future corporate governance and cash flows.

Delta Manufacturing Receives GST Scrutiny Notice for Rs 2.39 Lakhs

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 31 Jan 2026, 02:47 PM

Delta Manufacturing Limited has received a notice for scrutiny of GST returns (Form GST ASMT-10) from the Deputy Commissioner of State Tax, Nashik. The notice pertains to discrepancies observed in GSTR-3B returns for the financial year 2023-2024. The identified provisional discrepancy amount is approximately Rs. 2.39 lakhs, which is relatively immaterial for the company's scale. The company is required to submit a response by February 16, 2026, and is currently consulting with tax experts.

Notice received from the Office of the Deputy Commissioner of State Tax, Nashik, on January 30, 2026
Scrutiny involves GSTR-3B returns for the period April 2023 to March 2024 (FY 2023-24)
Total quantifiable financial impact mentioned in the notice is Rs. 2,39,363.43
Deadline for submitting a reply or explanation is set for February 16, 2026

💡 No action is required as the financial impact is negligible. This is a routine regulatory procedure for tax reconciliation.

Delta Manufacturing Submits SEBI Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jan 2026, 11:50 AM

Delta Manufacturing Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the quarter ended December 31, 2025. The certificate, provided by Purva Sharegistry (I) Private Limited, confirms that share certificates received for dematerialization were processed within the prescribed timelines. It further verifies that physical certificates were mutilated and cancelled after due verification, with depository names updated in the register of members. This is a standard administrative filing required by Indian listing regulations.

Compliance certificate filed for the quarter ended December 31, 2025.
Confirmation received from Registrar and Share Transfer Agent, Purva Sharegistry (I) Private Limited.
Verification that dematerialization requests were handled within mandated SEBI timelines.
Physical share certificates were mutilated and cancelled following standard regulatory procedures.

💡 This is a routine regulatory filing with no impact on company fundamentals. No action is required from investors based on this announcement.

Delta Manufacturing to Close Trading Window from Jan 1, 2026 for Q3 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Dec 2025, 06:45 PM

Delta Manufacturing Limited has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI Insider Trading regulations. The closure is ahead of the declaration of un-audited financial results for the quarter and nine months ending December 31, 2025. The window will remain closed for all Directors and Designated Persons until 48 hours after the results are officially communicated to the stock exchanges. This is a standard administrative procedure and does not indicate any fundamental change in the company's operations.

Trading window closure effective from January 1, 2026.
Closure pertains to the un-audited financial results for the period ending December 31, 2025.
Applies to all Directors, Designated Persons, and their immediate relatives.
Window to reopen 48 hours after the financial results are disclosed to BSE and NSE.

💡 This is a routine regulatory filing with no direct impact on stock valuation. Investors should wait for the actual financial results to assess the company's performance.

Delta Manufacturing to Close Loss-Making Hard Ferrite Division; Unit Incurred ₹8.83 Cr Loss

🟢 POSITIVE ⭐ 7/10

OTHER 📅 23 Dec 2025, 05:24 PM

Delta Manufacturing Limited has announced the closure of its Hard Ferrite Division located in Ambad, Nashik, due to outdated technology and obsolete machinery. In FY 2024-25, the division contributed ₹5.16 Crore (8.46%) to the company's total turnover but incurred a significant loss after tax of ₹8.83 Crore. The closure process is expected to be completed between January 2026 and March 2026. This move is expected to stop the financial drain caused by this unit, potentially improving the company's overall profitability.

Hard Ferrite Division contributed ₹5.16 Crore or 8.46% of total turnover in FY 24-25
The division incurred a Loss After Tax of ₹8.83 Crore in the last financial year, exceeding its revenue
Closure is attributed to outdated technology and obsolete machinery resulting in continuous losses
The winding-down process is scheduled for completion by March 2026
The net worth of the division was reported as Nil as of the end of the last financial year

💡 Investors should view this as a positive restructuring move to eliminate a loss-making segment that was dragging down the bottom line. Monitor for any one-time restructuring costs in the upcoming quarters and subsequent margin improvements.

Delta Manufacturing to Close Loss-Making Hard Ferrite Division; Unit Reported ₹8.83 Cr Loss

🟢 POSITIVE ⭐ 7/10

BOARD_MEETING 📅 23 Dec 2025, 05:11 PM

Delta Manufacturing has decided to shut down its Hard Ferrite division in Nashik by March 2026 due to outdated technology and obsolete machinery. While the division contributed 8.46% (₹5.16 Crore) to the total turnover, it incurred a significant loss of ₹8.83 Crores in FY 24-25. The unit currently has a nil net worth, making the closure a strategic move to stem financial losses. The process is expected to be completed within the first quarter of 2026.

Hard Ferrite division contributed ₹5.16 Crore (8.46%) to total turnover in FY 24-25.
The division incurred a net loss of ₹8.83 Crores, which is significantly higher than its total revenue.
Closure is scheduled to be completed between January 2026 and March 2026.
The division's net worth was reported as Nil as of the end of the last financial year.

💡 This is a positive development as it eliminates a segment that was draining company resources and reporting losses higher than its revenue. Investors should look for improved margins in upcoming quarters following the completion of the closure.

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💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue from operations for H1 FY26 was INR 29.32 Cr, representing a 27% decline from INR 40.17 Cr in H1 FY25. The Hard Ferrites segment contributed INR 29.32 Cr in H1 FY26, while the Textile segment results improved from a loss of INR 1.07 Cr to a profit of INR 0.79 Cr YoY.

Geographic Revenue Split

Not disclosed in available documents, though the company notes performance was affected by slowdowns in both domestic and global markets.

Profitability Margins

Profitability has severely declined; PAT margin worsened by 76% from (10.65)% in FY24 to (18.79)% in FY25. PBT margin similarly dropped 76% to (18.87)% in FY25 due to higher raw material costs and an inability to pass these costs to the unorganized sector.

EBITDA Margin

EBIDTA Margin was (4.32)% in FY25, a 73% deterioration from (2.50)% in FY24, reflecting operational pressure from a liquidity crunch and increased compliance costs.

Capital Expenditure

The company is planning to ramp up incremental machinery and manpower specifically for the textile trim segment to meet expected demand growth, though specific INR figures for planned CAPEX are not disclosed.

Credit Rating & Borrowing

Not disclosed in available documents; however, finance costs for H1 FY26 were INR 1.44 Cr, a 33.6% decrease from INR 2.17 Cr in H1 FY25.

⚙️ Operational Drivers

Raw Materials

Ceramic powder and general raw materials for hard ferrites and magnets; raw material costs for continuing operations were INR 11.50 Cr in H1 FY26, representing 40.4% of continuing revenue.

Capacity Expansion

The company is expanding capacity in the textile trim segment by adding machinery and manpower to capitalize on the white goods component ecosystem in India.

Raw Material Costs

Raw material costs for continuing operations rose 7% YoY to INR 11.50 Cr in H1 FY26 from INR 10.74 Cr, despite a decline in revenue, indicating significant margin pressure.

Manufacturing Efficiency

Inventory turnover improved by 8% to 1.73 in FY25, and debtors turnover improved by 6% to 3.60, indicating better working capital efficiency despite losses.

📈 Strategic Growth

Growth Strategy

Growth will be driven by restructuring the product portfolio toward technologically advanced components, scaling the textile trim segment, and pursuing a strategy to become net debt-free within 3 years through cost reduction and working capital optimization.

Products & Services

Hard ferrites, textile trims, permanent magnets, ferrite cores, and ceramic powder.

Brand Portfolio

DMG (Delta Manufacturing Group), MMG India, Arrow Textiles.

New Products/Services

Technologically advanced components and sub-systems intended to replace traditional products; specific revenue contribution % not disclosed.

Market Expansion

Focusing on global presence and the Indian electronics manufacturing hub, particularly in the white goods sector.

Strategic Alliances

The company is focusing on partnerships and Joint Ventures (JVs) to capitalize on emerging opportunities; currently has a Joint Venture that contributed a loss of INR 1.50 Cr in H1 FY26.

🌍 External Factors

Industry Trends

The industry is shifting toward a robust component ecosystem for electronics and white goods in India; the company is positioning itself by moving from traditional products to advanced components.

Competitive Landscape

Competition includes the unorganized sector, which is currently struggling with higher compliance costs, potentially allowing DML to capture market share through restructuring.

Competitive Moat

The company relies on its long-standing history (incorporated 1982) and its shift toward specialized textile trims and advanced ferrite components to create a competitive niche.