Submission of the Un-audited Standalone & Consolidated Financial Results along with Limited Review report for the 2nd quarter ended 30th September,2025 for the F.Y.25-26
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Anand Projects Ltd reported a net profit of Rs 313.48 lakh in Q2 FY26 (ended Sept 30, 2025), swinging from a Rs 810.19 lakh loss in the same quarter last year. However, the profit was driven almost entirely by 'Other Income' of Rs 428.26 lakh, while core revenue from operations stayed flat at just Rs 30 lakh — same as Q1 FY26 and Q2 FY25. Total expenses were unusually low at Rs 23.01 lakh versus Rs 348.33 lakh a year ago. The cash flow statement shows a notional fair-value gain on investments of Rs 303.16 lakh, suggesting most of the 'other income' is a paper gain rather than operating earnings. The company also has large trade payables of Rs 3,313.62 lakh against total assets of Rs 5,524.51 lakh, and other equity has turned positive at Rs 230.08 lakh (from Rs -75.18 lakh). Auditor Chopra Vimal & Co. gave an unmodified review report.
The headline profit turnaround looks impressive, but it's mostly an accounting gain on investments rather than real business growth — core operations remain negligible. Shareholders should view the result cautiously and watch whether operating revenue actually picks up in coming quarters before taking it as a genuine recovery.