With reference to captioned subject this is to inform you that the meeting of Board of Directors of the Maruti Interior Products Limited held on today, 11th November, 2025, at 11:00 A.M. ....
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Maruti Interior Products' board, meeting on 11 November 2025, approved unaudited standalone and consolidated financial results for the half year ended 30 September 2025 along with the auditor's limited review report. Standalone net sales jumped to Rs. 3,213.55 lakhs from Rs. 1,820.30 lakhs in the same period last year — a growth of roughly 77% — while standalone net profit rose to Rs. 267.56 lakhs from Rs. 162.47 lakhs, a jump of about 65%. Consolidated net sales climbed to Rs. 3,265.74 lakhs (+79% YoY) and consolidated net profit (including share of associate) reached Rs. 296.94 lakhs, nearly 83% higher YoY. Standalone EPS improved to Rs. 1.77 (from Rs. 1.08), and the debt-to-equity ratio eased to 0.35 from 0.40, with interest coverage at 10.06 times. The auditor flagged a material uncertainty about going concern for wholly owned subsidiary Noggah Lifestyle Products, whose net worth is negative (current liabilities exceed total assets by Rs. 35.17 lakhs) and whose financials were not reviewed by their own auditors. The associate Arowin Metaltech's financials were similarly unreviewed, contributing Rs. 31.05 lakhs of share of profit to consolidated numbers.
The headline numbers are strong — revenue and profit both grew over 60% year-on-year on a small base, and the balance sheet remains lightly levered. However, the going-concern flag on the subsidiary and the use of unreviewed financials for the subsidiary and associate introduce a meaningful caveat for investors scrutinising consolidated earnings quality.