Results- Un-audited Financial Results for the Quarter ended 30.09.2025 of the F.Y 2025-2026
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Anand Projects Limited reported a sharp swing back to profit in Q2 FY26, with net profit of Rs 313.48 lakh versus a loss of Rs 810.19 lakh in Q2 FY25. For H1 FY26, net profit was Rs 305.26 lakh compared to a loss of Rs 791.67 lakh a year earlier. However, the turnaround is entirely driven by 'Other Income' which jumped to Rs 428.26 lakh in Q2 (vs Rs 133.17 lakh last year), while core Revenue from Operations stayed flat at just Rs 30 lakh. The auditor (Chopra Vimal & Co.) issued a clean, unqualified limited review report. On the balance sheet, Total Equity remains thin at Rs 323.51 lakh against massive Current Liabilities of Rs 5,190.64 lakh (Trade Payables alone are Rs 3,313.62 lakh), and Other Financial Liabilities of Rs 1,863.34 lakh, indicating a very stretched leverage profile. Operating cash flow turned strongly positive at Rs 1,175.94 lakh for H1 FY26 (vs Rs 93.08 lakh) largely due to a tax refund of Rs 742.65 lakh.
The headline profit recovery is encouraging, but retail investors should note that it is driven by non-operating / other income rather than core business activity, while the balance sheet shows liabilities many times larger than shareholder equity - this raises concerns about financial stability despite the improved quarterly numbers.