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BSEGarware Synthetics Ltd· Commercial Services & SuppliesHighNeutral
Announced Wed, 12 Nov, 2025 · 15:37 IST

Submission of Un-Audited Financial Results for the Quarter and half year ended 30.09.2025.

Profit growth above 25%EBITDA margin expansionExceptional itemNegative operating cash flowDebt to equity above the thresholdResults View source PDFExplain this filing

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction

Awaiting price reaction for this filing.

AI summary

Garware Synthetics Ltd reported unaudited results for Q2 FY26 with revenue from operations of ₹283.85 lakhs, up from ₹276.99 lakhs in Q2 FY25. For the half year (H1 FY26), total revenue stood at ₹544.88 lakhs, with profit before tax of ₹30.26 lakhs compared to a loss of ₹1.89 lakhs in H1 FY25. Profit after tax jumped sharply to ₹24.01 lakhs (H1 FY25: ₹3.13 lakhs, which included a ₹6.99 lakh exceptional item). However, the balance sheet remains weak — other equity is negative at -₹753.56 lakhs, reflecting years of accumulated losses, while total borrowings of about ₹539.83 lakhs sit against effectively negative shareholder funds. Operating cash flow for the half year was negative at -₹20.57 lakhs (vs +₹1.32 lakhs in H1 FY25). Auditor Jayesh Dadia & Associates LLP issued an unqualified limited review report.

Likely market impact

Operational turnaround is visible with sharply higher profits, but deeply negative reserves, high borrowings against eroded equity, and negative operating cash flow mean balance sheet risk remains elevated — investors should weigh improving earnings against structural leverage concerns.