Board Meeting held to consider and approved the Unaudited Standalone & Consolidated Financial Results of the Company for the quarter ended 30th September, 2025
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Epuja Spiritech reported a sharp swing into the red for Q2 FY26 (ended 30 Sept 2025). Standalone revenue from operations fell to Rs 23.46 lakhs versus Rs 62.31 lakhs in Q2 FY25, with total expenses ballooning to Rs 214.18 lakhs (vs Rs 78.23 lakhs YoY), largely driven by a sharp jump in 'other expenses'. Net loss for the quarter stood at Rs 123.79 lakhs versus a profit of Rs 15.77 lakhs a year earlier; H1 FY26 standalone loss widened to Rs 186.09 lakhs. Consolidated results tracked the standalone picture with similar losses. Cash flow from operations was negative at Rs (283.39) lakhs for H1 FY26, but the company's cash balance rose to Rs 377.41 lakhs (from Rs 28.38 lakhs) thanks to fresh share capital (Rs 276.03 lakhs) and share-warrant money (Rs 446.60 lakhs).
A large operating loss on shrinking revenue is bad news for shareholders — it suggests the core business is unprofitable and burning cash, with funding so far coming from new equity rather than operations, hinting at possible future dilution. However, auditor SDPM & Co issued an unmodified (clean) review report, and the balance sheet remains debt-light, which softens the blow somewhat.