Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 we hereby inform that the Board has considered and approved the Un- audited Standalone and Consolidated Financial Results for ....
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The Board approved unaudited results for the quarter and half year ended Sept 30, 2025. This is the first set of consolidated results since Manbro acquired a 51% stake in Shivam Pipe Industries and a 26% interest in KD Ecosystem on July 10, 2025. On a consolidated basis, revenue from operations stood at ₹139.51 million for Q2 FY26, with total revenue of ₹142.02 million and profit after tax of ₹17.60 million (₹9.50 million attributable to owners). On a standalone basis, revenue from operations was nil (vs ₹12.29 million in Q2 FY25) as the operating business now sits in the subsidiary; standalone total revenue fell to ₹10.72 million in H1 FY26 from ₹19.58 million in H1 FY25. Standalone PAT for Q2 was a loss of ₹0.45 million, though H1 FY26 PAT was a positive ₹7.13 million driven largely by gains on financial assets. The auditor (V.N. Purohit & Co.) issued a clean limited review with no qualifications.
The company has effectively transitioned into a holding structure, so standalone numbers lose relevance for assessing operating performance. Consolidated results, now the more meaningful read, show a healthy quarter driven by Shivam Pipe Industries. Shareholders should watch subsidiary-level performance and how the ₹415 million preferential issue funds (₹325 million deployed so far) are put to work, as the standalone entity itself remains loss-making at the operating level.