Audited Standalone Finanical Results for the half year ended and financial year ended 31 March 2026 along with Independent Audit Report issued by M/s Timsi & Associates
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Earkart Ltd reported revenue from operations of Rs. 540.35 crore for FY26, up 25.4% from Rs. 431.06 crore in FY25 (restated). However, Profit After Tax declined significantly to Rs. 49.32 crore from Rs. 68.82 crore in the previous year, representing a 28% drop. The company saw substantial growth in cash reserves (from Rs. 3.66 crore to Rs. 216.87 crore) and a major increase in reserves and surplus (from Rs. 93.67 crore to Rs. 505.91 crore), likely from a capital raise. Operating cash flow turned negative at Rs. 125.62 crore, a sharp decline from Rs. 7.11 crore positive in FY25. The statutory auditor Timsi & Associates issued an unqualified opinion with no qualifications.
Despite strong revenue growth of 25%, the 28% decline in net profit and negative operating cash flow of Rs. 125.62 crore are concerning signals for investors. The large cash infusion appears to have strengthened the balance sheet, but profitability compression needs monitoring.