Q2 profit falls 50%; review qualified over unresolved claims
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.5 pts less than Nifty Microcap 250 and 4.8 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 revenue fell 24% to Rs 139,579 lakh; net profit fell 50% to Rs 7,829 lakh. H1 revenue and profit fell to Rs 295,348 lakh and Rs 16,737 lakh from Rs 383,971 lakh and Rs 38,124 lakh. Operating cash flow was negative Rs 5,564 lakh. Other income included a Rs 6,362 lakh provision write-back. The review was qualified over coal and ESL-linked claims. H1 margin before interest, tax, depreciation and amortisation fell from 17.4% to 13.1%.
Lower profit and negative cash flow may hurt sentiment. Legal uncertainty remains; the Oman deal may improve distribution and credit control.