Financial Results for Qtr ending on 30th June, 2025
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Hilltone Software and Gases reported Q1 FY26 revenue of ₹233.70 lakhs, up about 16% from ₹201.46 lakhs in Q1 FY25, driven entirely by the Gases segment (Software segment revenue dropped to zero). However, total expenditure surged to ₹274.57 lakhs from ₹200.88 lakhs, pushing the company into an operating loss of ₹40.88 lakhs versus a marginal profit of ₹0.58 lakhs last year. Net loss after tax stood at ₹17.89 lakhs (EPS of ₹(0.16)) compared to a profit of ₹9.63 lakhs (EPS of ₹0.09) in the year-ago quarter. The Gases segment posted a loss of ₹46.59 lakhs. The Board also appointed a new Secretarial Auditor (Hussain Bootwala & Associates) for five years and a new Internal Auditor (Dipesh Choksi & Co.) for FY25-26. A note flagged that ₹286.51 lakhs from a FY23-24 preferential allotment remain unutilized for the stated purpose and have instead been given as loans to others at 9% simple interest.
Despite top-line growth, sharply higher costs pushed the company into a quarterly loss with widening Gases segment losses, which is negative for shareholders. The deployment of unutilised preferential allotment funds as loans to third parties may also raise governance concerns and warrants scrutiny.