FINANCIAL RESULTS AND LIMITED REVIEW REPORT FOR QUARTER ENDING ON 30th SEPTEMBER 2025
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Hilltone Software and Gases reported standalone net sales of ₹345.02 lakhs for Q2 FY26 (up ~67% YoY from ₹206.96 lakhs), with H1 FY26 sales at ₹578.72 lakhs (up ~41% YoY from ₹410.15 lakhs). However, the company swung to a net loss of ₹61.17 lakhs in Q2 FY26 versus a profit of ₹11.48 lakhs in Q2 FY25, with H1 FY26 net loss at ₹79.05 lakhs versus a profit of ₹21.11 lakhs last year. Total expenditure surged to ₹412.95 lakhs in Q2 from ₹207.00 lakhs a year ago, driven mainly by cost of materials and purchases, causing operating loss of ₹67.92 lakhs versus an operating profit of ₹1.69 lakhs. The balance sheet shows total assets expanding to ₹2,382.52 lakhs (from ₹1,750.27 lakhs at March 2025), with property, plant & equipment nearly doubling and borrowings rising sharply to ₹370.45 lakhs from ₹62.93 lakhs. Statutory auditor Ashvin K. Yagnik & Co issued an unmodified limited review report with no qualifications.
Despite strong top-line growth, sharp cost inflation has pushed the company into significant losses, eroding shareholder value (basic EPS at -₹0.06 vs ₹0.11 YoY). The heavy capex and debt build-up will increase interest costs going forward, so near-term profitability and cash flow generation are key things to watch for existing shareholders.