The Board at their meeting held on today has considered and approved Inter alia un-audited standalone financial results of the company for the quarter and half year ended on 30th September, ....
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The board of Vaghani Techno-Build Limited approved unaudited standalone financial results for Q2 and the first half of FY26 (ended September 30, 2025). For the half year, total income was Rs. 68.90 lakhs with a reported profit of Rs. 34.14 lakhs, versus Rs. 67.40 lakhs and Rs. 22.19 lakhs for the entire FY25 (note: periods are not directly comparable). Quarterly revenue jumped sharply to about Rs. 49.61 lakhs in Q2 from Rs. 8.56 lakhs a year ago, driven mainly by the launch of new Solar and Real Estate business segments. Despite the bottom-line profit, the company's operating cash flow was deeply negative at Rs. (604.58) lakhs. The auditor flagged three 'Emphasis of Matter' items: uncertainty in valuing TDR (development rights) inventory, the recent allotment of 2.35 crore convertible warrants where Rs. 588.39 lakhs was received upfront, and a Rs. 205.97 lakh loan given to a related party at 9% interest without any formal written agreement.
Negative operating cash flow despite reported profit, plus a sizeable related-party loan with no formal agreement and pending warrant conversion that could dilute equity, are concerns for shareholders. Investors should watch for further clarity on related-party exposure, cash recovery, and warrant conversion timelines.