Outcome of the Board Meeting held on November12, 2025
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The Board of Directors approved the unaudited standalone financial results for Q2 FY26 (quarter ended September 30, 2025) and H1 FY26 (half year ended September 30, 2025). Revenue from operations surged to ₹2,236.32 lakhs in Q2 FY26 from ₹559.42 lakhs in Q2 FY25 — roughly a 4x jump — while H1 revenue rose about 80% to ₹3,219.06 lakhs. However, profit after tax for Q2 dipped to ₹122.99 lakhs (vs ₹139.60 lakhs in Q2 FY25) and H1 PAT grew only marginally to ₹242.07 lakhs, meaning margins compressed sharply as input/purchase costs scaled faster than profits. The auditor (KD N & Associates LLP) issued an unqualified limited review report with no modifications. Balance sheet shows equity raised via fresh share issuance (₹948.59 lakhs vs ₹898.59 lakhs), while cash on hand dropped sharply from ₹3,691.66 lakhs to ₹435.97 lakhs.
Top-line growth is strong but profitability is lagging — shareholders should note that PAT declined in Q2 and operating cash flow turned negative (₹-51.98 lakhs vs +₹200.19 lakhs in H1 FY25), with cash reserves depleting substantially. Watch margin trajectory and working-capital absorption closely in upcoming quarters.