Unaudited (Standalone and Consolidated) Financial Results for the quarter and six months ended 30th September 2025 along with Limited Review Report of the Statutory Auditor of the Company
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Kolkata-based Alfred Herbert (India) Ltd, which mainly invests in properties and securities, posted blockbuster H1 FY26 results driven almost entirely by one-time property sale gains. The company recognised an exceptional gain of ₹48,047.16 lakhs from the sale of its Whitefield, Bengaluru immovable property (booked in Q1 FY26), plus ₹987.17 lakhs from the partial disposal of another investment property during Q2 FY26. Total comprehensive income jumped from about ₹78 lakhs in H1 FY25 to roughly ₹1,097 lakhs in H1 FY26 on a standalone basis. Total assets ballooned more than 5x from ₹11,512 lakhs (Mar 2025) to ₹59,113 lakhs (Sep 2025), as sale proceeds were parked into investments (₹6,837 → ₹49,496 lakhs) and bank balances. Statutory auditor ALPS & Co. issued an unmodified (clean) limited review opinion on both standalone and consolidated numbers.
Headline profits look spectacular but are mostly non-recurring — without further asset sales, core earnings will normalise sharply. Importantly, operating cash flow was negative at ₹(3,182) lakhs (standalone) for H1 FY26 due to ₹3,030 lakhs in tax outflows, so the accounting profit did not translate into operating cash. Shareholders received a healthy 50% final dividend (₹5/share) paid during the period, but the stock should be valued recognising the one-time nature of these gains.