Vardhman Holdings Q2 PAT up 28% standalone; consolidated down on weak associate income

Revenue declinedEBITDA margin expansionNegative operating cash flowResults View source PDF Explain this filing

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announcement price

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AI summary

Standalone Q2 PAT rose to Rs 33.21 cr from Rs 25.99 cr, lifted by dividend income of Rs 45.13 cr versus Rs 35.57 cr last year. H1 standalone PAT up about 18% at Rs 35.87 cr. Consolidated Q2 PAT slipped to Rs 46.12 cr from Rs 49.38 cr and H1 consolidated PAT fell to Rs 108.70 cr from Rs 122.51 cr as the share of profits from associates Vardhman Textiles and Vardhman Spinning declined. Revenue mostly comes from dividends, interest, and fair value gains on investments. Auditor K.C. Khanna gave an unmodified review conclusion on both results.

Likely market impact

Mixed results: strong standalone show on dividends, but consolidated earnings slipped as associate contributions weakened. No auditor red flags.

By the numbersConsolidated · Q2 FY26 vs Q2 FY25

	Q2 FY26	Q2 FY25	Change
Revenue	₹2.75 Cr	₹7.40 Cr	−62.8%
Operating profit	₹2.39 Cr	₹4.88 Cr	−51.0%
Profit after tax	₹46.12 Cr	₹49.38 Cr	−6.6%
EBITDA margin	86.9%	66.0%	+21.0 pp

From the company's XBRL filing, not from the text above. Operating profit = profit before tax − exceptional items − other income. EBITDA = profit before tax + finance costs + depreciation − other income.