Outcome of Board Meeting held on 14th November, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The Board of Directors approved unaudited standalone and consolidated financial results for Q2 FY26 (quarter ended September 30, 2025) and H1 FY26 (six months ended September 30, 2025), along with the Limited Review Report. On a standalone basis, the company swung to a Q2 net profit of Rs. 933.28 lakhs from a loss of Rs. 1,034.57 lakhs in the year-ago quarter, while H1 net profit came in at Rs. 1,888.67 lakhs compared to a loss of Rs. 1,759.96 lakhs in H1 FY25. Total income for Q2 FY26 stood at Rs. 1,927.20 lakhs (vs Rs. 820.24 lakhs) and H1 income at Rs. 3,890.23 lakhs (vs Rs. 1,457.18 lakhs), driven largely by sale of shares/securities and net gains on fair value changes of investments. On a consolidated basis (including 48.84% stake in associate Tilak Ventures Ltd), H1 net profit was Rs. 2,162.08 lakhs versus a loss of Rs. 1,609.90 lakhs. However, net cash from operating activities remained negative at Rs. (257.44) lakhs in H1 FY26, indicating weak cash generation despite the reported profit.
The headline numbers show a sharp year-on-year turnaround and revenue growth of well over 100%, which is positive for sentiment. However, shareholders should note that the profit is driven primarily by trading activity and fair value gains on investments rather than core lending income, and operating cash flow continues to be negative, meaning the company is still not generating cash from its day-to-day business.