Un-audited Financial Results for the Quarter and half year ended 30.09.2025 is enclosed.
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Kovalam Investment & Trading Company, a Ludhiana-based NBFC, submitted its unaudited Q2 and H1 FY26 results on November 12, 2025. Total income for H1 FY26 rose to Rs. 286.99 lakhs from Rs. 216.77 lakhs in H1 FY25, driven mainly by dividend income and fair value gains. However, profit after tax for H1 FY26 declined to about Rs. 114.79 lakhs from Rs. 164.49 lakhs in the year-ago period, roughly a 30% drop. Standalone Q2 FY26 revenue slipped to Rs. 122.75 lakhs from Rs. 186.28 lakhs in Q2 FY25. The statutory auditor YAPL & Co. issued an unmodified limited review report, but Note 7 flags a related party transaction where investments were sold to a related party at Rs. 21.92 lakhs against a purchase cost of Rs. 45 lakhs, booking a loss. Net cash used in operating activities stood at Rs. (25.61) lakhs for H1 FY26.
Mixed picture for shareholders — topline growth on a half-year basis is offset by a sharp PAT decline, quarter-on-quarter revenue contraction, and a loss-making related party sale. The negative operating cash flow and ongoing related party dealings may weigh on sentiment despite the clean auditor review.