Approval of Standalone & Consolidated Financial Results for Quarter and year ended 30th September 2025
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Mangalam Seeds' Board approved unaudited standalone and consolidated results for Q2 and H1 FY26 at its meeting on November 12, 2025. Consolidated revenue from operations for H1 FY26 grew 24.5% YoY to Rs. 6,744.98 lakhs (vs Rs. 5,416.38 lakhs), while consolidated PAT rose modestly 3.7% to Rs. 568.28 lakhs. However, Q2 FY26 saw a sharp revenue dip — consolidated revenue fell 16.6% YoY to Rs. 1,830.35 lakhs, reflecting the seasonal pattern of seed sales where Q1 (Kharif) is the peak quarter. Consolidated Q2 PAT grew 8.96% to Rs. 179 lakhs, and Q2 EPS stood at Rs. 1.63 (vs Rs. 1.50). Operating cash flow was negative at Rs. -144.86 lakhs (standalone) and Rs. -27.55 lakhs (consolidated) for H1, driven by higher inventory and receivables. Statutory auditor MAAK & Associates issued an unmodified limited review report with no qualifications.
Mixed picture for shareholders — strong H1 revenue growth and expanding Q2 margins are positives, but the steep Q2 sequential revenue decline (typical of seed-business seasonality) and negative operating cash flow may concern investors. No auditor red flags, and the company remains profitable with growing EPS, but watch working capital trends in coming quarters.