Consolidated statement FS sept 30,2025
BPL · price
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BPL Ltd reported weak consolidated Q2 FY26 results, with revenue from operations at Rs 1,983.90 lakhs versus Rs 2,091.53 lakhs in Q2 FY25. The company swung to a consolidated loss before tax of Rs 18.81 lakhs in Q2 FY26 from a profit of Rs 406.52 lakhs a year ago. For H1 FY26, PAT stood at Rs 254.48 lakhs, sharply lower than Rs 1,744.25 lakhs in H1 FY25. The Brand Licensing segment turned into a loss (Rs 82.54 lakhs) and remains the key drag, though PCB segment revenues grew. The company's auditor flagged Note 6 (unredeemed preference shares due to lack of profits) as a qualification. A further Rs 96 crore was deposited with the Supreme Court treasury in September 2025 in connection with an ongoing legal dispute, and the company also raised fresh borrowings, taking current borrowings to Rs 10,645.31 lakhs from Rs 805.35 lakhs. Operating cash flow turned deeply negative at Rs -9,735 lakhs.
Sharp profit decline, a quarterly loss, negative operating cash flows, and rising borrowings are negative signals for shareholders. The unresolved legal case (Rs 96 crore already deposited with the SC) and inability to redeem preference shares due to insufficient profits add to concerns. However, the auditor issued only a limited qualification and the company restated its brand licensing revenue based on actuals from Reliance Retail.