Submission of Half year Un-audited Standalone and Consolidated Financial Statement
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Gabriel Pet Straps, a PET straps manufacturer listed on BSE's SME platform, posted standalone revenue from operations of ₹5,454.95 lakhs for H1 FY26, up sharply from ₹548.25 lakhs in H1 FY25, driven by scaling up after its recent IPO. Profit after tax rose to ₹223.78 lakhs (from ₹20.91 lakhs), with EPS at ₹4.00 versus ₹0.79. Total income stood at ₹5,539.38 lakhs and total expenses at ₹5,236.97 lakhs, with cost of materials being the largest line. The company also included consolidated results for the first time, covering its wholly-owned subsidiary Gabriel Ingrevia Limited (incorporated April 2025), reporting consolidated revenue of ₹5,464.84 lakhs and PAT of ₹219.74 lakhs. Long-term borrowings rose to ₹766.84 lakhs from ₹142.15 lakhs, pushing the debt-equity ratio to 0.14 (from 0.03). However, operating cash flow was deeply negative at -₹856.71 lakhs (standalone) due to sharp increases in trade receivables, inventories, and short-term loans and advances.
Strong top-line and profit growth signal successful post-IPO scaling, but negative operating cash flow and rising receivables/inventories suggest working capital is being stretched, which investors should monitor closely. The auditor flagged an emphasis of matter on the consolidated results (Ind AS not applicable as the company is on the SME platform), but gave an unqualified limited review on both standalone and consolidated statements.