Pursuant to the Regulation 30 and 33 read with schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, we would like ....
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Brilliant Portfolios Limited, a Delhi-based NBFC, announced its Q2 FY26 and H1 FY26 results on November 13, 2025. Total revenue from operations for Q2 came in at Rs. 74.39 lakhs, down from Rs. 82.86 lakhs in Q2 FY25 (a decline of about 10%), while H1 revenue slipped modestly to Rs. 147.84 lakhs from Rs. 156.75 lakhs. Despite weaker top-line, profit after tax for Q2 rose to Rs. 14.62 lakhs (from Rs. 12.37 lakhs) and H1 PAT improved to Rs. 26.74 lakhs (from Rs. 24.87 lakhs), aided by lower finance costs and employee expenses. Total assets stood at Rs. 3,064 lakhs and borrowings declined to Rs. 1,589 lakhs. However, operating cash flow turned sharply negative at Rs. (60.24) lakhs for H1 versus a positive Rs. 227.21 lakhs a year ago. The limited review was conducted by V.P. Jain & Associates, with a clean (unmodified) conclusion, though the report notes prior period figures were reviewed by a different auditor, indicating a change of auditor.
Mixed signals for shareholders — earnings quality held up with stable PAT despite revenue softness and a cleaner balance sheet (lower borrowings), but the swing to negative operating cash flow is a red flag worth watching. The auditor change is a routine disclosure but investors may want clarity on the reasons behind it.