Workmates Core2Cloud Solution Ltd. — Half year ended 31 March 2026 and year ended 31 March 2026 (as per results approved on 14 May 2026)
Optional commentary: The document contains board meeting outcomes and auditor reports, along with standalone and consolidated financial statements (audited) and related notes. The financial tables extracted below are the standalone and consolidated financial result statements, balance sheets, cash flow statements, and the IPO utilization table.
| Particulars | Half-Year Ended 31st March, 2026 Audited |
Half-Year Ended 30th September, 2025 Un-Audited |
Year Ended 31st March, 2026 Audited |
Year ended 31st March, 2025 Audited |
|---|---|---|---|---|
| Revenue from Operations | 6,899.83 | 7,469.22 | 14,369.05 | 10,468.75 |
| Other Income | 103.36 | 24.05 | 127.41 | 74.14 |
| Total Income | 7,003.19 | 7,493.27 | 14,496.46 | 10,542.89 |
| EXPENSES : | ||||
| Cost of Cloud Technology and Allied Services | 4,746.92 | 4,910.70 | 9,657.62 | 6,920.89 |
| Employee Benefit Expenses | 855.19 | 835.93 | 1,691.12 | 1,021.67 |
| Finance Costs | 17.34 | 38.36 | 55.70 | 1.05 |
| Depreciation | 61.98 | 67.34 | 129.32 | 29.27 |
| Other Expenses | 374.22 | 396.59 | 770.81 | 687.93 |
| Total Expenses | 6,055.65 | 6,248.92 | 12,304.57 | 8,660.81 |
| Profit Before Tax | 947.54 | 1,244.35 | 2,191.89 | 1,882.08 |
| Tax Expense: | ||||
| Current Tax | 236.18 | 313.18 | 549.36 | 475.60 |
| Income Tax for Earlier Years | – | – | – | 0.01 |
| Deferred Tax | 6.57 | (2.00) | 4.57 | 0.42 |
| Profit for the Year | 704.79 | 933.17 | 1,637.96 | 1,406.05 |
| Earning per Equity Share : Basic and Diluted (in Rs.) |
6.36 | 9.32 | 14.79 | 14.05 |
| Particulars | As at 31st March, 2026 ₹ | As at 31st March, 2025 ₹ |
|---|---|---|
| I. EQUITY AND LIABILITIES | ||
| (1) Shareholder’s Funds | ||
| (a) Share Capital | 1,291.88 | 1.00 |
| (b) Reserves and Surplus | 7,587.89 | 2,316.15 |
| (2) Non Current Liabilities | ||
| (a) Long Term Borrowings | – | 850.17 |
| (b) Deferred Tax Liabilities (Net) | 1.95 | – |
| (3) Current Liabilities | ||
| (a) Short Term Borrowings | – | 29.16 |
| (b) Trade Payables | ||
| (i) Total Outstanding dues of Micro Enterprises and Small Enterprises | – | 22.83 |
| (ii) Total Outstanding dues of creditors other than Micro Enterprises and Small Enterprises | 1,642.41 | 2,338.32 |
| (c) Other Current Liabilities | 287.20 | 205.92 |
| Total | 10,811.33 | 5,763.55 |
| II. ASSETS | ||
| (1) Non Current Assets | ||
| (a) Property, Plant & Equipment and Intangible Assets | ||
| (i) Property, Plant & Equipment | 1,029.81 | 88.89 |
| (ii) Capital Work in Progress | 14.68 | 1,027.66 |
| (iii) Intagible Assets | – | – |
| (iv) Intagible Assets under Development | 63.97 | – |
| (b) Non-Current Investments | 31.62 | 31.62 |
| (c) Deferred Tax Assets (Net) | – | 2.62 |
| (d) Other Non Current Assets | 14.23 | 9.97 |
| (2) Current Assets | ||
| (a) Trade Receivables | 2,896.15 | 2,464.97 |
| (b) Cash and Cash Equivalents | 5,215.61 | 1,460.62 |
| (c) Short Term Loans and Advances | 1,245.10 | 627.03 |
| (d) Other Current Assets | 300.16 | 50.17 |
| Total | 10,811.33 | 5,763.55 |
| Particulars | Year ended 31st March, 2026 | Year ended 31st March, 2025 |
|---|---|---|
| (A) Cash Flow from Operating Activities | ||
| Net Profit before tax | 2,191.89 | 1,882.08 |
| Adjustment for:- | ||
| Add: Loan Interest Paid | 53.84 | – |
| Less: Gratuity Paid | (21.02) | – |
| Add: Depreciation | 129.32 | 29.27 |
| Operating Profit Before Working Capital Changes | 2,354.03 | 1,911.35 |
| Adjustments for: | ||
| (Increase)/Decrease in trade receivables | (431.18) | (1,931.36) |
| (Increase)/Decrease in other current assets | (75.08) | (29.02) |
| (Increase)/Decrease in short term loans and advances | (618.07) | (341.72) |
| (Increase)/Decrease in non current assets | (4.26) | (2.52) |
| Increase/(Decrease) in trade payables | (718.74) | 1,161.97 |
| Increase/(Decrease) in other current liabilities | 81.28 | 75.65 |
| Cash Generated from Operations | 587.98 | 844.35 |
| Direct taxes paid | (549.36) | (475.60) |
| Net Cash Generated from Operating Activities (A) | 38.62 | 368.75 |
| (B) Cash flow from Investment Activities | ||
| Purchase of Property, Plant & Equipment | (121.24) | (1,111.37) |
| Investment in Shares | – | (31.62) |
| Net Cash used in Investing Activities (B) | (121.24) | (1,142.99) |
| (C) Cash flow from Financing Activities | ||
| Issue of Share Capital | 4,945.68 | – |
| Receivable from related parties towards OFS | (174.90) | – |
| Loan Interest paid | (53.84) | – |
| Increase/(Decrease) in Long Term Borrowings | (850.17) | 850.17 |
| Increase/(Decrease) in Short Term Borrowings | (29.16) | 29.16 |
| Net Cash generated/(used) from Financing Activities (C) | 3,837.61 | 879.33 |
| Net Increase in Cash and Cash Equivalents A+B+C | 3,754.99 | 105.09 |
| Cash & Cash Equivalents at the beginning of the year | 1,460.62 | 1,355.53 |
| Cash & Cash Equivalents at the end of the year | 5,215.61 | 1,460.62 |
| Sr. | Particulars | Allocated (₹ Lakhs) | Utilised till 31st Mar 2026 (₹ Lakhs) | Unutilised till 31st Mar 2026 (₹ Lakhs) | Remarks |
|---|---|---|---|---|---|
| 1 | Prepayment or repayment of secured loan availed by the Company from Banks /Financial Institutions | 860.00 | 860.00 | – | NIL |
| 2 | Funding of Working Capital Requirement of the company | 2920.00 | 1,172.00 | 1,748.00 | NIL |
| 3 | General corporate purpose | 1,000.00 | – | 1,000.00 | NIL |
| 4 | Issue Expenses | 1,153.00 | 980.00 | *174.90 | NIL |
| 5 | Any other purpose approved by the Board | NA | NA | NA | NIL |
| Total | 5,933.00 | 3,012.00 | 2,922.90 | NIL |
| Particulars | Half-Year Ended 31st March, 2026 (Audited) | Half-Year Ended 30th September, 2025 (Un-Audited) | Year Ended 31st March, 2026 (Audited) | Year Ended 31st March, 2025 (Audited) |
|---|---|---|---|---|
| Revenue from Operations | 6,913.02 | 7,469.22 | 14,382.24 | 10,764.50 |
| Other Income | 103.55 | 23.86 | 127.41 | 74.14 |
| Total Income | 7,016.57 | 7,493.08 | 14,509.65 | 10,838.64 |
| EXPENSES: | ||||
| Cost of Cloud Technology and Allied Services | 4,755.61 | 4,910.70 | 9,666.31 | 7,202.71 |
| Employee Benefits Expenses | 855.08 | 836.03 | 1,691.11 | 1,020.99 |
| Finance Costs | 17.35 | 38.36 | 55.71 | 1.13 |
| Depreciation | 62.43 | 67.90 | 130.33 | 29.95 |
| Other Expenses | 400.43 | 420.24 | 820.67 | 709.30 |
| Total Expenses | 6,090.90 | 6,273.23 | 12,364.13 | 8,964.08 |
| Profit Before Tax | 925.67 | 1,219.85 | 2,145.52 | 1,874.56 |
| Tax Expenses: | ||||
| Current Tax | 236.18 | 313.18 | 549.36 | 475.60 |
| Income Tax for Earlier Years | – | – | – | 0.01 |
| Deferred Tax | 6.57 | (2.00) | 4.57 | 0.42 |
| Profit for the Year | 682.92 | 908.67 | 1,591.59 | 1,398.53 |
| Earning per Equity Share: | ||||
| Basic and Diluted (in Rs.) | 6.16 | 9.08 | 14.37 | 13.97 |
| Particulars | As at 31st March, 2026 (₹) | As at 31st March, 2025 (₹) |
|---|---|---|
| I. EQUITY AND LIABILITIES | ||
| (1) Shareholder’s Funds | ||
| (a) Share Capital | 1,291.88 | 1.00 |
| (b) Reserves and Surplus | 7,534.01 | 2,308.63 |
| (2) Non Current Liabilities | ||
| (a) Long Term Borrowings | – | 850.17 |
| (b) Deferred Tax Liabilities (Net) | 1.95 | – |
| (3) Current Liabilities | ||
| (a) Short Term Borrowings | – | 29.16 |
| (b) Trade Payables | ||
| (i) Total Outstanding dues of Micro Enterprises and Small Enterprises | – | 22.83 |
| (ii) Total Outstanding dues of creditors other than Micro Enterprises and Small Enterprises | 1,648.30 | 2,338.32 |
| (c) Other Current Liabilities | 290.40 | 211.28 |
| Total | 10,766.54 | 5,761.39 |
| II. ASSETS | ||
| (1) Non Current Assets | ||
| (a) Property, Plant & Equipment and Intangible Assets | ||
| (i) Property, Plant & Equipment | 1,030.60 | 90.68 |
| (ii) Capital Work in Progress | 14.68 | 1,027.66 |
| (iii) Intangible Assets | – | – |
| (iv) Intangible Assets under Development | 63.97 | – |
| (b) Deferred Tax Assets (Net) | – | 2.62 |
| (c) Other Non Current Assets | 14.23 | 9.97 |
| (2) Current Assets | ||
| (a) Trade Receivables | 2,899.43 | 2,464.97 |
| (b) Cash and Cash Equivalents | 5,395.48 | 1,686.57 |
| (c) Short Term Loans and Advances | 1,047.99 | 428.75 |
| (d) Other Current Assets | 300.16 | 50.17 |
| Total | 10,766.54 | 5,761.39 |
| Particulars | Year ended 31st March, 2026 | Year ended 31st March, 2025 |
|---|---|---|
| (A) Cash Flow from Operating Activities | ||
| Net Profit before tax | 2,145.52 | 1,874.56 |
| Adjustment for:- | ||
| Add: Loan Interest Paid | 53.84 | – |
| Less: Gratuity Paid | (21.02) | – |
| Add: Depreciation | 130.33 | 29.95 |
| Operating Profit Before Working Capital Changes | 2,308.67 | 1,904.51 |
| Adjustments for: | ||
| (Increase)/Decrease in trade receivables | (434.46 |