Submission of Unaudited financial results for the Half year ended September 30, 2025
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KMS Medisurgi Ltd filed its H1 FY26 (ended September 30, 2025) unaudited standalone results, approved at the Board meeting on November 14, 2025. Revenue from operations fell to Rs. 661.66 lakhs from Rs. 781.38 lakhs in H1 FY25, a decline of about 15.3%. Despite weaker sales, profit after tax nearly tripled to Rs. 23.15 lakhs (from Rs. 7.88 lakhs), as cost of materials and other expenses dropped sharply, lifting PBT to Rs. 29.63 lakhs from Rs. 10.45 lakhs. The company invested heavily in property, plant and equipment, which rose from Rs. 167.98 lakhs to Rs. 298.28 lakhs, and operating cash flow remained healthy at Rs. 186.15 lakhs. The statutory auditor H H Dedhia & Associates issued a limited review report but flagged two concerns: a departure from AS-15 on employee benefits (post-employment benefits accounted on accrual basis using LIC's gratuity report instead of an actuarial valuation) and incomplete reconciliation of stock records, leaving closing inventory of Rs. 295.45 lakhs unverified for movement.
Mixed picture for shareholders — top-line shrank but margins and earnings improved meaningfully, while the auditor's flagging of accounting standard deviations and inventory reconciliation gaps warrants monitoring. The sharp jump in fixed assets suggests an ongoing expansion phase that could support future revenue, though finance costs have risen about tenfold year-on-year.