Pursuant to the requirements of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we have to inform you that the Board of ....
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Baba Arts Ltd's board, meeting on 11 November 2025, approved unaudited financial results for Q2 FY26 (quarter ended 30 September 2025) and H1 FY26 (half year ended 30 September 2025). Revenue surged dramatically — net sales jumped to ₹713.16 lakhs in H1 FY26 from ₹161.74 lakhs in H1 FY25 (over 300% growth), driven almost entirely by the Digital Media Content segment. However, net profit for H1 FY26 declined about 31% to ₹49.80 lakhs from ₹72.07 lakhs, as cost of production/distribution spiked to ₹517.51 lakhs. Q2 standalone net profit was ₹35.07 lakhs (₹32.50 lakhs in Q2 FY25). The board also approved modifications to the Distribution Agreement dated 15 February 2025 with related party Graceland New Media LLP. Statutory auditor M M Nissim & Co LLP issued a limited review report with an unmodified opinion.
While top-line growth is impressive, the sharp drop in margins and negative operating cash flow of ₹647 lakhs in H1 suggest rising costs are eroding profitability, which is a concern despite strong revenue. Shareholders should watch the related-party agreement modification and margin trends in upcoming quarters; near-term stock reaction may be mixed.