Enclosed herewith Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended 30th September 2025.
DAICHI · price
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Dai-Ichi Karkaria, a specialty chemicals company, reported its H1 FY26 results. Standalone revenue from operations grew ~16.5% YoY to Rs 8,224 lakhs (from Rs 7,061 lakhs in H1 FY25), with Q2 revenue at Rs 4,279 lakhs vs Rs 3,675 lakhs YoY. Standalone H1 profit swung from a loss of Rs 64 lakhs to a profit of Rs 185 lakhs, driven largely by a sharp jump in 'other income' (fair value gains, interest, dividends) to Rs 513 lakhs from Rs 178 lakhs. However, Q2 standalone was still in the red at a Rs 34 lakh loss. On a consolidated basis, after factoring in subsidiary Dai-ichi Gosei Chemicals and JV ChampionX Dai-ichi, H1 PAT was just Rs 3 lakhs (vs Rs 20 lakhs YoY), with the subsidiary dragging standalone profits into a small loss. The statutory auditor B S R & Co. LLP issued an unmodified (clean) limited review opinion.
Operating revenue growth is healthy at ~16-17% YoY, and the standalone business has returned to profit on a half-year basis, which is a positive turn. However, the consolidated picture remains weak as the subsidiary continues to lose money, and much of the standalone profit came from non-operating fair value gains rather than core operations. Short-term stock reaction may be muted; investors should watch the subsidiary's performance and whether the operating profit can be sustained without one-time gains.