FINANCIAL RESULTS AND LIMITED REVIEW REPORT FOR QUARTER ENDING ON 30th SEPTEMBER 2025
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.6 pts more than Nifty Microcap 250 and 2.1 pts more than its Industrial Gases peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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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.