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Pune, Maharashtra  June 02: Petros Stone LLP, one of India’s leading exporters of premium natural stone, has been awarded the coveted Star Export House Certificate by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry, Government of India. The certification was issued on 15 May 2026 under the provisions of the Foreign Trade Policy 2023, recognizing the company’s strong export performance and contribution to India’s international trade growth.

The recognition highlights Petros Stone LLP’s expanding footprint in international markets and its dedication to promoting India’s rich natural stone heritage worldwide. The company exports an extensive range of granite, exotic marbles such as Calacatta Vagli, Calacatta Viola, Breccia, and Botticino, along with premium natural stone products including vanity tops, countertops, monuments, sculptures, and custom architectural stonework. Serving clients across the United States, the Middle East, and Mauritius, Petros Stone LLP caters to luxury residential developments, hospitality projects, commercial spaces, and large-scale infrastructure initiatives.

The Star Export House status is awarded to exporters who demonstrate consistent export excellence and make significant contributions to India’s foreign trade. The certification further strengthens Petros Stone LLP’s position as a trusted global supplier of high-quality natural stone solutions.

Commenting on the achievement, Rishabh Jain – Director of International Business for Petros Stone LLP said, “Being recognized as a Star Export House is a significant milestone for our organization. This certification reflects the trust our global customers place in our products, our commitment to quality, and the dedication of our team. We remain focused on expanding our international footprint while promoting India’s world-class natural stone industry across global markets.”

With increasing demand for premium natural stone in luxury real estate and construction projects worldwide, Petros Stone LLP continues to strengthen its export capabilities and build long-term partnerships with architects, developers, designers, and contractors across key international markets.

As India emerges as a preferred sourcing destination for natural stone, Petros Stone LLP remains committed to delivering exceptional craftsmanship, superior quality, and reliable supply solutions to customers around the world

June 2: Avio Smart Market Stack Limited announced its audited financial results for the financial year ended March 31, 2026, reporting strong growth across revenue, profitability and business expansion initiatives.

The Company reported Revenue from Operations of ₹103.96 crore in FY26, up from ₹40.04 crore in FY25, representing a year-on-year growth of approximately 160%. Profit After Tax (PAT) stood at ₹5.94 crore, up from ₹1.75 crore in FY25, reflecting a growth of over 240%.

ASMS also achieved a positive net worth during FY26, marking a significant milestone in the Company’s ongoing transformation journey and strengthening of its financial position.

The strong performance was driven by the continued expansion of the Company’s operating platforms, diversification across key business verticals, strengthening ecosystem partnerships and focused execution of its long-term growth strategy.

FY26 marked a pivotal year for ASMS as the Company continued to evolve into a diversified platform spanning Financial Inclusion & Digital Services, Agri Supply Chain & Technologies, and Diagnostics & Healthcare.

Among its operating segments, the Agri Supply Chain & Technologies vertical emerged as the Company’s largest revenue contributor during FY26, accounting for approximately 58% of total revenue. The growth reflects ASMS’ expanding footprint across the agricultural value chain and the successful scale-up of its agritech initiatives.

The Company also continued to strengthen its Diagnostics & Healthcare business through strategic investments and ecosystem partnerships. As part of this effort, ASMS further expanded its association with Huwel Lifesciences, a Hyderabad-based molecular diagnostics company focused on indigenous diagnostic technologies and healthcare solutions.

Commenting on the performance, Mr Nandaluru Vidhya Sagar Reddy, Managing Director, Avio Smart Market Stack Limited, said:

“FY26 represents a defining year in the Company’s growth journey. Crossing the ₹100 crore revenue milestone, delivering strong profitability growth and achieving a positive net worth are important outcomes of the strategic direction we have pursued over the last few years. We have continued to strengthen our position in Financial Inclusion, built meaningful scale in Agritech and laid important foundations in Diagnostics & Healthcare. As we enter FY27, our focus remains firmly on execution, scale and creating sustainable long-term value for all stakeholders.”

Looking ahead,

ASMS plans further to scale its Agri Supply Chain & Technologies platform, expand its Diagnostics & Healthcare initiatives, strengthen its Financial Inclusion & Digital Services business and pursue strategic growth opportunities across its operating sectors.

With a stronger operational and financial foundation established during FY26, the Company enters FY27 with a clear focus on accelerating growth across its core business verticals.

NEW YORK and NEW DELHI (June 2, 2026) — The American Society of Mechanical Engineers (ASME) today announced it has acquired BSB Edge Private Limited, a New Delhi, India–headquartered organization with more than 50 years of experience in the distribution of national and international standards that has been ASME’s third-largest standards reseller globally. The transaction includes the purchase of shares from BSB Edge’s founder and existing shareholders.

The acquisition establishes BSB as an independently operated ASME subsidiary designed to expand access to standards, enhance customer value, and support the evolution of standards delivery in a rapidly changing global marketplace. This transaction advances ASME’s long-term growth strategy while strengthening its ability to serve members, customers, and partners worldwide.

For more than five decades, BSB Edge has built a strong reputation for trusted service, long-standing customer relationships, and operational excellence across India and international markets in the Middle East and Asia. The organization serves a broad base of 20,000+ customers and more than 25 standards development organization (SDO) partners, including ASME, with a focus on reliability, professionalism, and responsiveness.

BSB Edge will continue to operate independently, maintaining its established brand, leadership and customer relationships. Existing service models and partner engagements will remain unchanged, ensuring continuity and stability as the organization enters its next phase of growth. BSB Edge will continue to serve SDOs and customers with the same neutrality, professionalism, and trusted service that have defined the company for decades.

 

“This is a strategic, long-term investment that strengthens ASME’s ability to deliver greater value to the global engineering community,” said ASME Executive Director and CEO Tom Costabile. “We have long respected the reputation, relationships, and expertise that BSB Edge has built. Through this strategic acquisition, we are expanding access to standards, deepening our understanding of customer needs, and creating a stronger platform for sustainable growth and innovation.”

The acquisition supports ASME’s broader shift toward diversified, scalable revenue streams that reinforce its mission while increasing organizational resilience. By integrating BSB Edge’s market presence and operational expertise, ASME gains direct insight into customer demand, enabling the development of more relevant, responsive products and services.

For customers and partners, the benefits are clear: expanded access to standards, improved efficiency in distribution, and enhanced opportunities for engagement across a growing global network. Over time, ASME and BSB Edge expect to explore opportunities to strengthen digital capabilities, improve customer experience, and expand reach into additional international markets.

 

“This marks an important milestone in the history of BSB Edge,” said Founder and Managing Director Chirukandath Krishnan. “We are proud of the trust we have built with customers, SDO partners, and employees over the past 53 years. Joining ASME provides long-term stability while preserving the values, relationships, and service commitment that define who we are. Together, we see significant opportunities to grow, modernize, and better serve the global standards community.”

Mr. Krishnan will remain actively involved in the company during a multi-year transition period to help ensure continuity and long-term success.

The timing of the acquisition reflects alignment across market demand, customer needs, and ASME’s strategic readiness. By acting now, ASME is positioned to expand its global footprint, support long-term modernization, and strengthen how its codes and standards reach customers worldwide.

BSB reinforces ASME’s commitment to quality, relevance, and innovation. It creates a platform for piloting new delivery models, digital solutions, and emerging technologies while safeguarding the Society’s core mission and operations.

Customers, partners, and members can continue to engage with BSB Edge through existing channels. ASME will share additional updates over time as new capabilities, services, and opportunities for engagement are introduced.

Hyderabad, June, 2: Ice Make Refrigeration Limited a  provider of industrial and commercial refrigeration solutions, announced its audited financial results for the quarter and full year ended March 31, 2026, reporting its highest-ever quarterly revenue of ₹255.85 crore in Q4 FY26, representing a 41.8% year-on-year growth, driven by the Company’s integrated cold chain platform strategy, expanding product portfolio, and strong demand across refrigeration segments.

For the full year FY26, consolidated revenue crossed ₹668 crore, growing 39.3% from ₹479.52 crore in FY25. The growth was broad-based, reflecting sustained order inflows across existing business categories and strong traction in emerging product categories including Continuous Panels, Chest Freezers, and Visi Coolers, alongside robust demand across the Company’s core refrigeration and cold chain solutions portfolio.

The Board of Directors, at its meeting held on May 29, 2026, approved the standalone and consolidated financial statements and recommended a final dividend of ₹2.25 per equity share (22.5% on face value of ₹10 per share), subject to shareholders’ approval at the ensuing Annual General Meeting.

Consolidated Financial Highlights (₹ in Crore, except EPS)

Performance Highlights	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY25	Q4 FY26	FY25	FY26
Revenue	111.50	147.49	153.36	180.35	255.85	479.52	668.20
EBITDA	4.53	9.70	10.04	21.85	21.77	43.44	46.04
EBITDA Margin (%)	4.06%	6.6%	6.5%	12.1%	8.5%	9.1%	6.9%
PAT	(-1.47)	2.02	1.45	11.66	10.12	22.90	12.13
PAT Margin (%)	(-1.3%)	1.4%	0.9%	6.5%	3.9%	4.8%	1.8%
EPS (₹)	(-0.90)	1.28	0.93	7.42	6.41	14.65	7.73

Financial Highlights

For the quarter ended March 31, 2026 (Q4 FY26), Ice Make reported consolidated revenue from operations of ₹255.85 crore, registering a robust 41.8% year-on-year growth over ₹180.35 crore reported in Q4 FY25. On a sequential basis, revenue grew by approximately 66.8% compared to ₹153.36 crore in Q3 FY26, reflecting strong order execution and the seasonal nature of the Company’s business.

EBITDA for the quarter stood at ₹21.77 crore, broadly in line with ₹21.85 crore reported in Q4 FY25. EBITDA margin moderated to 8.5% from 12.1% in the year-ago period.

Profit After Tax (PAT) for Q4 FY26 stood at ₹10.12 crore, compared to ₹11.66 crore in Q4 FY25, while Earnings Per Share (EPS) stood at ₹6.41 as compared to ₹7.42 in the corresponding quarter of the previous year.

For the full financial year ended March 31, 2026 (FY26), Ice Make achieved consolidated revenue from operations of ₹668.20 crore, representing a strong 39.3% year-on-year growth compared to ₹479.52 crore in FY25.

The Company reported EBITDA of ₹46.04 crore in FY26 compared to ₹43.44 crore in FY25, representing a growth of approximately 6.0% year-on-year. EBITDA margin stood at 6.9%, compared with 9.1% in FY25.

FY26 consolidated PAT stood at ₹12.13 crore, compared to ₹22.90 crore in FY25, while EPS was ₹7.73, compared to ₹14.65 in the previous year.

Profitability during FY26 was impacted by certain one-time and growth-oriented investments, including costs associated with capacity expansion initiatives, strengthening future-ready leadership and manpower capabilities, implementation of the notified Labour Code provisions, warehouse network expansion, brand-building initiatives, and expenses related to Energy Label transition and BIS regulatory compliance requirements.

The moderation in operating margins was also attributable to investments in manufacturing capacity expansion, higher depreciation on newly commissioned assets, elevated finance costs, and organizational strengthening initiatives.

Despite temporary pressure on profitability arising from strategic growth investments and regulatory expenses, the Company delivered record revenues during FY26 and remains focused on leveraging its expanded manufacturing capacity, strengthened leadership team, broader product portfolio, and growing market presence to drive long-term profitable growth.

Management Commentary

Chandrakant Patel, Chairman & Managing Director, Ice Make Refrigeration Limited, stated

“FY26 has been a year of transformation and strategic investment for Ice Make. In line with the Make in India vision, we continued to invest in our manufacturing capabilities, product portfolio expansion, distribution network, market development initiatives, and leadership strengthening to position Ice Make as an end-to-end refrigeration products and solutions provider. 

The strategic investments undertaken during the year, coupled with higher depreciation arising from newly commissioned assets, elevated finance costs associated with growth initiatives, and one-time costs related to the implementation of the new Labour Code, Energy Label transition, and other growth-centric programs, impacted profitability during the financial year.

However, these investments have been undertaken with a long-term perspective and are aimed at strengthening our competitive positioning, enhancing execution capabilities, and creating a scalable platform for future growth. As utilization levels improve and recent investments begin to mature, we expect operating leverage to support profitability improvements over the medium term.

With India’s cold chain, food processing, pharmaceutical, retail, and industrial refrigeration sectors continuing to expand, we believe the foundations laid during FY26 will support sustainable growth, improved operating leverage, and long-term value creation for our shareholders.”

Mr. M. Srinivas Reddy, Chief Executive Officer, commented:

“FY26 was a year of strong growth momentum, culminating in record revenue performance during both Q4 and the full financial year. All our businesses posted robust growth driven by healthy demand across food processing, cold chain, HoReCa, pharmaceutical, retail, and industrial refrigeration segments. The new business categories of Chest Freezers, Visi Coolers, and Continuous Panels received excellent market acceptance and are emerging as important growth drivers for the Company. The strong revenue growth achieved during the year reflects the strength of our business model, customer trust, product portfolio, and market opportunity. 

We are making strategic investments in building future-ready capabilities and competencies to capitalize on the growing opportunities across the refrigeration value chain and drive sustainable growth, profitability, and customer delight.

We remain focused on operational excellence, expanding our market presence, enhancing brand visibility and customer engagement, and delivering sustainable value to customers, shareholders, employees, and all stakeholders.”