outcome of board meeting held on 13th November along with financial result with limited review report with undertaking regarding non applicability of statement of deviation
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Jolly Plastic Industries' Board, meeting on 13 November 2025, approved unaudited standalone financial results for Q2 and H1 FY26 (ended 30 September 2025). Total comprehensive income for H1 FY26 stood at Rs. 3.62 lakhs, down from Rs. 5.82 lakhs in H1 FY25, a decline of roughly 38%. Profit before tax for Q2 FY26 was Rs. 0.56 lakhs versus Rs. 2.25 lakhs in Q1 FY26. The Statutory Auditor (GAMS & Associates LLP) issued an unmodified Limited Review Report with no qualifications. The company also submitted an undertaking confirming non-applicability of the Statement of Deviation under Reg 32, meaning no variation in use of IPO proceeds. Shareholders had ratified a correction to the face value of equity shares, confirming it is Rs. 10 per share.
Weak quarter for shareholders: profits nearly halved YoY, and the company reported negative net operating cash flow of about Rs. 2.63 lakhs for H1 FY26 despite positive reported profit, suggesting working capital stress. Clean audit and clean IPO-proceeds disclosure are positives, but the sharp earnings decline and cash burn warrant caution for retail investors.