Submission of Unaudited Financial Results for the quarter and half year ended on 30th September, 2025
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The company reported a sharp jump in revenue for Q2 FY26 at Rs. 1,965.40 lacs compared to Rs. 351.79 lacs in Q2 FY25, with half-yearly revenue rising to Rs. 2,531.44 lacs versus Rs. 351.79 lacs in H1 FY25 — over 6x growth. Net profit for the quarter rose to Rs. 88.78 lacs (from Rs. 61.12 lacs) and for the half year to Rs. 148.76 lacs (from Rs. 85.88 lacs), a ~73% increase. Despite the strong topline, profit before tax margin fell sharply from about 27% in H1 FY25 to around 6.5% in H1 FY26, indicating margin compression. The business remains a single segment — trading of agriculture products. The statutory auditor issued a limited review report with an 'Emphasis of Matter' flagging that trade receivables, trade payables, and loan balances are pending third-party confirmation and reconciliation, and that the company did not have a GSTN during the period, requiring alternate verification of sales.
Shareholders may cheer the revenue and profit growth, but the steep fall in margins and a deeply negative operating cash flow of Rs. -706.92 lacs (vs Rs. -240.01 lacs in H1 FY25) signal working-capital stress. The auditor's emphasis of matter on unverified balances is a watchpoint, though the auditor did not modify their conclusion.