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Accedere Ltd (formerly E Com Infotech India Ltd) reported standalone Q2 FY26 revenue of ₹98.68 lakhs, down from ₹105.55 lakhs in Q2 FY25, while PAT rose to ₹7.75 lakhs (vs ₹9.65 lakhs YoY). For the half-year (H1 FY26), standalone revenue declined ~14% to ₹174.26 lakhs from ₹202.51 lakhs, but PAT grew ~26% to ₹13.56 lakhs from ₹10.75 lakhs, reflecting better cost management — total expenses fell sharply to ₹156.24 lakhs from ₹188.16 lakhs. Consolidated results were broadly similar, with H1 FY26 revenue at ₹174.26 lakhs and PAT (after minority interest) of ₹11.42 lakhs. The subsidiary Freebird Aerospace contributed NIL revenue and a ₹1.3 lakh loss. The auditor (Gupta Raj & Co.) issued an unmodified limited review report with no qualifications or emphasis of matter. Standalone operating cash flow turned positive at ₹7.03 lakhs (vs negative ₹5.12 lakhs in H1 FY25), though long-term borrowings on a consolidated basis rose to ₹38.96 lakhs from ₹15.78 lakhs as of March 2025.
Mixed signals for shareholders — top-line is shrinking year-on-year but profitability and margins are improving on tighter expense control. The clean auditor review and positive cash generation are positives, but the rising borrowings and weak subsidiary contribution warrant monitoring.