Financial Results for the Quarter and Half-year ended September 30, 2025.

Negative operating cash flowDebt to equity above the thresholdResults View source PDF Explain this filing

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₹83.55

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Nifty Microcap 250market · in no size index; the smallest one is used-0.2%+0.2% vs market

Paper & Paper Products peers, median of 35sector-1.5%+1.5% vs sector

By the next day the stock moved 0.2 pts more than Nifty Microcap 250 and 1.5 pts more than its Paper & Paper Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Ganga Papers India reported H1 FY26 total revenue of ₹13,300.66 lakhs, up about 8% from ₹12,311.26 lakhs in H1 FY25, driven by revenue from operations of ₹13,205.75 lakhs. Profit before tax was nearly flat at ₹81.95 lakhs (vs ₹80.66 lakhs), and PAT dipped slightly to ₹61.33 lakhs from ₹65.33 lakhs. EPS for H1 stood at ₹0.567. A major concern is the swing in operating cash flow, which turned negative at ₹(300.15) lakhs in H1 FY26 versus a positive ₹213.81 lakhs in H1 FY25, largely due to a sharp build-up in inventories (₹2,220 lakhs vs ₹1,657 lakhs) and higher receivables. Total borrowings rose to about ₹4,058 lakhs against shareholder equity of ₹3,127 lakhs, lifting the debt-to-equity ratio above 1.3x. The statutory auditor issued an unqualified limited review report.

Likely market impact

While top-line growth looks healthy, the sharp drop into negative operating cash flow, swelling inventory, and rising leverage signal working-capital stress that could pressure margins and borrowing costs. Shareholders should watch for further deterioration in cash generation and any asset-quality issues in receivables and stock.