Submission of Financial Results for Qtr. Ended 30th September 2025

Profit growth above 25%Emphasis of matterNegative operating cash flowResults View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-2.4%Reaction day

₹104.00

prior close

₹103.95

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%-3.0% vs market

Investment Company peers, median of 59sector+0.0%-2.4% vs sector

On the reaction day the stock moved 3.0 pts less than Nifty Microcap 250 and 2.4 pts less than its Investment Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

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Reaction day

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Next day

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15d

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UpDownMarket · Nifty Microcap 250Sector · Investment Company peers, median of 59Pending

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AI summary

Garnet International reported a sharp turnaround in Q2 FY26, posting a standalone profit after tax of Rs. 179.48 lakhs versus a loss of Rs. 12.80 lakhs in Q2 FY25. Consolidated PAT for H1 FY26 jumped to Rs. 409.55 lakhs from Rs. 133.52 lakhs in H1 FY25, a more than 3x increase. The big boost came primarily from a net gain on fair value changes of Rs. 354.96 lakhs in H1, along with higher sale of products (Rs. 47.21 lakhs vs Rs. 252.08 lakhs consolidated). The auditor (Sarda Soni Associates LLP) gave an unmodified review opinion but flagged that trade receivables, deposits, loans, advances and trade payables are still subject to party confirmation. Operating cash flow remained negative on both standalone (Rs. -59.45 lakhs) and consolidated (Rs. -57.19 lakhs) basis despite the accounting profit.

Likely market impact

Headline profit growth looks strong but is largely driven by fair-value gains on investments rather than core operations, and the negative operating cash flow shows the company is still consuming cash. Existing shareholders may see a short-term positive sentiment, but sustainability of earnings depends on the cash business picking up.