Financial Result fpr half year ended on 30th September 2025
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Evoq Remedies reported revenue from operations of Rs 2,550.68 lakhs for H1 FY26, nearly doubling from Rs 1,175.67 lakhs in H1 FY25 (around 117% YoY growth). The company swung back to a small profit of Rs 5.43 lakhs (EPS Rs 0.02) compared to a loss of Rs 162.44 lakhs in the same period last year, though profit fell sharply from the Rs 171.26 lakhs earned in FY25 as a whole. The auditor (H Thakkar & Co. LLP) issued a limited review report attaching an 8-point Annexure flagging serious concerns: an ongoing SEBI investigation and show-cause notice over a Rs 9.21 crore preferential allotment, a Rs 655.03 lakh GST demand, Rs 39.99 lakh disputed income tax demand, Rs 38.23 lakh unpaid TDS/TCS, Rs 668.86 lakh of loans to related parties without proper Companies Act compliance, and Rs 1,250.87 lakh of unconfirmed supplier advances. Trade receivables remain elevated at Rs 1,969 lakhs while operating cash flow turned marginally positive at Rs 9.37 lakhs.
While top-line growth is strong and the company returned to profitability, the auditor's annexure highlights significant regulatory, tax, and related-party risks that could materially affect the company's financial position. Shareholders should weigh the revenue momentum against SEBI proceedings, pending tax/GST demands, and weak internal controls before drawing conclusions.