Standalone and Consolidated Financial Results for Q2 and half yea ended 30.09.2025
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Makers Laboratories Ltd reported its Q2 and H1 FY26 results with strong growth in the standalone (pharma) business. Standalone revenue from operations rose about 25.7% year-on-year in Q2 to Rs. 1,372.68 lakhs (vs Rs. 1,092.35 lakhs in Q2 FY25) and about 10.8% in H1 to Rs. 2,636.78 lakhs. Standalone profit after tax jumped roughly 47% in H1 to Rs. 681.38 lakhs from Rs. 464.11 lakhs, with Q1 FY26 posting a small loss followed by a sharp Q2 turnaround. On a consolidated basis, H1 revenue grew about 16.9% to Rs. 6,917.55 lakhs, but consolidated PAT slipped slightly as the Chemical Manufacturing subsidiary (Resonance Specialties) reported losses that offset pharma-segment gains. Statutory auditor N V C & Associates LLP (formerly Natvarlal Vepari & Co., which converted from partnership to LLP w.e.f. 23 March 2025, same firm registration) issued an unmodified limited review report with no qualifications.
Strong standalone revenue and profit growth is a positive read for shareholders and could support the stock, but the subsidiary-level drag on consolidated earnings and a negative standalone operating cash flow of Rs. 194.19 lakhs in H1 are watch-items that temper the upbeat picture.