Outcome of Board meeting held on November 14, 2025
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The Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, along with the limited review report by statutory auditor V. Goswami & Co., who issued an unmodified opinion. On a standalone basis, Q2 FY26 revenue from operations came in at around Rs 1,300 lakhs (down ~5% from Rs 1,371 lakhs in Q2 FY25), while H1 FY26 revenue grew ~9% YoY to ~Rs 2,904 lakhs. However, profitability weakened materially — Q2 standalone PAT fell ~40% YoY to Rs 59 lakhs and H1 PAT fell ~23% YoY to Rs 115 lakhs, indicating margin compression. On a consolidated basis, the picture is far weaker: subsidiaries and joint venture reported a combined net loss of about Rs 815 lakhs in H1 FY26 (vs standalone profit of Rs 115 lakhs), suggesting significant stress at the group level. The company also changed its accounting policy for the joint venture Medico Lab, switching from proportionate consolidation to the equity method under Ind AS 28. As a result, prior-period figures have been restated. No auditor change or going-concern flag was noted.
Mixed-to-negative for shareholders: standalone business is showing profit margin compression (H1 PAT fell ~23% despite revenue growth), and the consolidated entity is weighed down by heavy losses at subsidiaries/JV (~Rs 815 lakhs loss in H1). The accounting policy change and restatement make year-over-year comparisons less straightforward, and investors should read both standalone and consolidated numbers carefully.