Approval of Unaudited Financial Statements for Quarter Ended 30th September 2025
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Awaiting price reaction for this filing.
Mangalam Seeds reported consolidated revenue of Rs. 1,833.32 lakhs for Q2 FY26 (quarter ended Sep 30, 2025), down from Rs. 2,197.39 lakhs in Q2 FY25, reflecting a typical seasonal dip in the seeds business post-sowing. However, on a half-year basis, H1 FY26 revenue grew 24.5% to Rs. 6,749.61 lakhs versus Rs. 5,421.07 lakhs in H1 FY25, driven by a strong Q1. Profit after tax for Q2 FY26 rose to Rs. 179 lakhs (EPS Rs. 1.63) from Rs. 164.27 lakhs (EPS Rs. 1.50) YoY, while H1 PAT was Rs. 568.28 lakhs versus Rs. 547.81 lakhs. Operating cash flow remained negative at Rs. (27.55) lakhs in H1 FY26, although better than Rs. (66.73) lakhs in the prior year. Auditor MAAK & Associates issued an unqualified limited review report with no qualifications or emphasis of matter. The Agriculture segment continues to dominate (Rs. 5,930.46 lakhs revenue in H1), with a small Real Estate segment contributing Rs. 966.02 lakhs.
The seasonal Q2 weakness is normal for seed companies; the healthy H1 revenue growth of ~24.5% and modest PAT improvement signal stable fundamentals. Persistent negative operating cash flow remains a watch item, though improving YoY suggests better working capital management.