In continuation to our letter dated 03rd November, 2025 and pursuant to the provisions of Regulations 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure ....
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Gratex Industries' board approved unaudited standalone results for the quarter and half year ended September 30, 2025. Revenue from operations for Q2 FY26 rose ~36% YoY to ₹110.31 lakhs (vs ₹80.91 lakhs in Q2 FY25), though H1 FY26 revenue grew only marginally to ₹207.42 lakhs (vs ₹204.14 lakhs). Half-year net profit more than tripled to ₹4.86 lakhs (vs ₹1.51 lakhs), with EPS rising to ₹0.16 from ₹0.05. Profit before tax for H1 improved to ₹6.49 lakhs (vs ₹2.04 lakhs). The company generated positive operating cash flow of ₹4.33 lakhs in H1, and cash balances rose to ₹1.31 lakhs from ₹0.54 lakhs. Auditor Harshal Doshi & Associates issued an unqualified limited review report with no qualifications or adverse comments.
Strong quarterly revenue growth and a sharp jump in half-year profits signal improving operational performance, though absolute numbers remain small (company is in the wallpaper/furnishing business). The unqualified auditor report and positive cash flow are supportive, but shareholders should note the modest scale and that H1 revenue growth was only ~1.6%, indicating the YoY jump was largely driven by a weak base quarter.