Board of Directors Meeting was conducted on November 12, 2025 to approve unaudited financial statement for quarter and half year ended September 30, 2025 and to approve interim dividend ....
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The Board approved unaudited financial results for Q2 and H1 FY26 (ended September 30, 2025). Revenue from operations for Q2 stood at Rs. 6,568.76 lakhs, down about 21% YoY from Rs. 8,298.76 lakhs, while H1 revenue fell around 5.6% YoY to Rs. 13,150.93 lakhs. Despite the revenue dip, profit after tax jumped sharply — Q2 PAT rose ~71% YoY to Rs. 161.08 lakhs and H1 PAT rose ~64% YoY to Rs. 287.89 lakhs, indicating better margins, helped by stable output despite steel price fluctuations. The Board declared an interim dividend of Rs. 0.50 per equity share, with November 14, 2025 as the record date and payment starting November 24, 2025. However, operating cash flow turned sharply negative at Rs. (1,915.82) lakhs for H1, and cash and equivalents fell to Rs. 93.06 lakhs from Rs. 2,068.95 lakhs at year-end FY25. Total borrowings stand at roughly Rs. 5,225 lakhs against equity of Rs. 2,040 lakhs, signaling a stretched balance sheet.
The market may react positively to the strong PAT growth and dividend, but the sharp revenue decline, deeply negative operating cash flow, and high debt levels (~2.5x debt-to-equity) could weigh on sentiment. Investors should weigh improving profitability against weakening top-line momentum and liquidity stress.