1. Independent Auditors Review Reports on the quarterly and half yearly Unaudited Standalone Financial Results for the quarter and half year ended 30th September 2025, duly signed by Auditors; 2. ....
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The Board approved unaudited financial results for the quarter and half year ended 30 September 2025, reviewed by auditor Shabbir & Rita Associates LLP (clean review report). On a standalone basis, revenue from operations was Rs. 18.45 lakhs in Q2 (vs Rs. 16.01 lakhs YoY) with a PAT of Rs. 2.08 lakhs. However, on a consolidated basis, revenue fell sharply to Rs. 300.34 lakhs in Q2 FY26 from Rs. 686.57 lakhs in Q2 FY25 (about 56% YoY decline), dragged by the Infrastructure projects segment which dropped from Rs. 671.93 lakhs to Rs. 283.47 lakhs. The company swung to a consolidated loss before tax of Rs. (274.02) lakhs in Q2 and a loss after tax of Rs. (259.54) lakhs, versus a small profit last year. Half-year consolidated loss was Rs. (309.66) lakhs, versus a profit of Rs. 15.56 lakhs in H1 FY25. Consolidated operating cash flow was negative at Rs. (113.77) lakhs, total equity eroded to Rs. 442.28 lakhs with negative other equity of Rs. (83.74) lakhs, and short-term borrowings stood at Rs. 2,059.98 lakhs.
Negative for shareholders on a consolidated basis - the company has slipped from profit to a sizeable loss with collapsing infrastructure segment revenue, negative operating cash flow, eroded equity, and high short-term borrowings (~Rs. 2,060 lakhs vs equity of ~Rs. 442 lakhs). Standalone numbers remain small but positive; the bulk of the weakness is at the consolidated/subsidiary level, which is a clear concern for the stock.