Outcome of Board Meeting
Price
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Kerala Ayurveda's Board approved its unaudited standalone and consolidated results for Q2 and H1 FY26, both reviewed by statutory auditors G Joseph & Associates with an unmodified opinion. On a standalone basis, H1 FY26 revenue grew about 27% year-on-year to Rs. 7,462 lakhs, driven mainly by a stronger Q1. However, profitability collapsed: Q2 FY26 standalone PAT was a loss of Rs. 636 lakhs versus a profit of Rs. 365 lakhs in Q2 FY25, and H1 FY26 swung to a standalone loss of Rs. 433 lakhs from a profit of Rs. 411 lakhs a year earlier. Total expenses rose disproportionately to Rs. 7,864 lakhs in H1, eroding margins as employee and other costs surged. On a consolidated basis, the loss after minority interest widened to Rs. 871 lakhs in Q2 and Rs. 639 lakhs in H1. Operating cash flow was deeply negative at about Rs. 1,349 lakhs standalone and Rs. 1,621 lakhs consolidated, indicating significant cash burn.
Strong revenue growth is being offset by sharp margin compression and a swing to losses, combined with negative operating cash flow — a negative signal for near-term earnings and shareholder returns, though the clean (unmodified) audit opinion removes governance concerns.