Pursuant to the provisions of Regulation 30 and 33 read with Schedule III and other applicable provisions of the SEBI (LODR) Regulations, 2015, "SEBI (Listing Regulations, 2015") we hereby ....
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Artemis Electricals' board approved unaudited standalone and consolidated financial results for Q2 and H1 FY26 (ended 30 September 2025). Standalone revenue from operations surged to Rs 1,579.66 lakhs in Q2 (vs Rs 401.73 lakhs in Q2 FY25) and Rs 3,555.14 lakhs for H1 (vs Rs 1,640.12 lakhs), more than doubling year-on-year. Standalone profit after tax jumped to Rs 492.21 lakhs in H1 (vs Rs 120.39 lakhs), with EPS of Rs 0.20 versus Rs 0.05. The auditor issued an unmodified opinion but flagged multiple Emphasis of Matter points: related-party contract with Electroforce (India) Private Ltd for setting up a lithium-ion battery plant (commissioning expected by March 2026), negligible manufacturing activity at the factory (focus is on projects), and that the auditor did not physically verify inventory. Operating cash flow for H1 was negative at Rs -57.17 lakhs versus a positive Rs 4,119.24 lakhs a year earlier, largely due to a sharp Rs 3,732 lakh rise in trade receivables.
Strong top-line and bottom-line growth is a positive, but the negative operating cash flow, ballooning trade receivables, near-shutdown of factory operations, and heavy reliance on a related-party capital advance for the lithium-ion plant raise quality-of-earnings concerns for shareholders.