Submission of Unaudited Financial Results of the Company for the quarter and half year ended 30th September, 2025
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Hardcastle & Waud Manufacturing Company reported strong Q2 FY26 results with revenue from operations surging to ₹238.18 lakhs from ₹113.26 lakhs in the same quarter last year, a jump of about 110%. Half-yearly revenue grew 59% to ₹432.50 lakhs versus ₹272.52 lakhs a year ago. Profit before tax for the half-year rose nearly 15% to ₹177.57 lakhs, while profit after tax more than doubled to ₹147.52 lakhs (from ₹58.80 lakhs), translating to an EPS of ₹21.71 versus ₹8.65. The Investments segment remained the biggest contributor to earnings, while Trading revenue tripled during the half-year. The company carries a strong balance sheet with a net worth of ₹4,739.36 lakhs and virtually no borrowings. The auditor, Desai Saksena & Associates, issued a clean (unmodified) limited review report with no qualifications or concerns flagged.
Positive for shareholders — sharp revenue growth, a return to quarterly profit after a loss in the year-ago quarter, and a robust equity base signal healthy operational performance. The absence of debt and clean auditor opinion should support investor confidence, though operating cash flow remained marginally negative for the half-year.