Board Approved unaudited financial results for the quarter ended 30th Sept 2025
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Goodricke Group reported weak Q2 FY26 results, with revenue from operations falling to Rs 21,656 lacs from Rs 31,594 lacs in Q2 FY25 (about 31% YoY decline). Half-year revenue dropped to Rs 39,107 lacs vs Rs 51,338 lacs (about 24% decline). The company cited a 13% drop in own tea crop due to unfavourable weather and 6% lower domestic tea prices. Profit after tax for the quarter was Rs 4,353 lacs (vs Rs 6,027 lacs) and Rs 4,672 lacs for the half year (vs Rs 7,276 lacs). An exceptional gain of Rs 1,014 lacs from the sale of a tea estate in July 2025 (for Rs 2,650 lacs) boosted reported profits. The auditor (Deloitte Haskins & Sells LLP) issued a qualified review report, flagging the non-standard method of valuing tea stock using estimated full-year costs, a recurring qualification. Operating cash flow for the half year swung negative to Rs (5,599) lacs from a positive Rs 343 lacs last year. Board changes include the appointment of Mr. Oliver Capon as Non-Executive Director, re-appointment of Mr. Soumen Mukherjee as CFO, and resignation of Mrs. Susan Walker, all effective January/April 2026 subject to shareholder approval.
Core tea business underperformed sharply on both volume and pricing, dragging down profits despite a one-time gain from an estate sale. The recurring auditor qualification and negative operating cash flow are points of concern for shareholders, though liquidity remains supported by the estate sale proceeds and fresh borrowings.