Out come of Board meeting _ results
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Goodricke Group reported its Q2 FY26 results with revenue from operations at Rs 21,656 lacs, down sharply from Rs 31,594 lacs in Q2 FY25, a roughly 31% decline. H1 FY26 revenue stood at Rs 39,107 lacs vs Rs 51,338 lacs last year. Profit before exceptional items and tax was Rs 2,996 lacs (vs Rs 6,067 lacs), but profit before tax rose to Rs 4,010 lacs after including a Rs 1,014 lacs one-time gain from the sale of a tea estate. The statutory auditor Deloitte Haskins & Sells LLP issued a qualified limited review report, flagging the company's method of valuing tea stock at estimated (not actual) cost. The company attributed weaker performance to a 13% drop in own tea crop due to bad weather and 6% lower domestic sale prices. The Board also approved appointing Mr. Oliver Capon as Non-Executive Director from January 2026, re-appointed CFO Mr. Soumen Mukherjee for three years from April 2026, and accepted the resignation of Mrs. Susan Walker effective January 2026.
The sharp revenue decline and the auditor's qualified review are negative signals for shareholders, reflecting both weak operating conditions and a recurring accounting concern. The one-time estate sale gain cushions reported profit but does not improve underlying earnings. Board continuity is largely maintained through the CFO re-appointment, though the auditor qualification may weigh on investor sentiment.