Approval of un-audited financial results for the quarter and half year ended on 30th September 2025
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Frontier Capital's board, meeting on 14 November 2025, approved standalone unaudited results for the quarter and half year ended 30 September 2025. Total revenue from operations stood at Rs 14.20 lakh for Q2 (vs Rs 14.38 lakh YoY, broadly flat) and Rs 32.80 lakh for H1 (up about 16% from Rs 28.25 lakh). Profit after tax rose sharply to Rs 4.72 lakh in Q2 and Rs 12.83 lakh for H1 (vs Rs 7.24 lakh, a ~77% jump), helped by lower employee and depreciation costs. Auditor A.P. Rajagopalan & Co. issued a clean review report with no qualifications. However, operating cash flow was deeply negative at Rs (25.65) lakh for H1, and the company continues to carry negative other equity of Rs (1,388) lakh against share capital of Rs 1,676 lakh, leaving total equity at only Rs 288 lakh. Borrowings rose to Rs 28.49 lakh from Rs 20.82 lakh, partly via an unsecured loan from parent Inimitable Capital Finance at 10% for 24 months. No loan or debt defaults were reported.
While headline PAT growth looks healthy on a low base, the negative operating cash flow and persistent accumulated losses (negative reserves) signal weak underlying cash generation from this small NBFC. Retail investors should view the earnings beat cautiously given the stressed balance sheet and reliance on parent-group funding.