Unaudited Standalone Financial Results for the Quarter and Half year ended 30th September, 2025
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Morgan Ventures reported Q2 FY26 standalone revenue of Rs 1,395.95 lakhs, up from Rs 1,254.87 lakhs in Q2 FY25, driven by gains from fair value changes of investments (Rs 1,146.39 lakhs). Net profit for Q2 stood at Rs 591.20 lakhs versus Rs 549.75 lakhs a year ago. For the half-year, total income was Rs 1,948.48 lakhs (vs Rs 1,982.70 lakhs in H1 FY25), with net profit falling sharply to Rs 695.78 lakhs from Rs 1,050.58 lakhs, a decline of nearly 34%. EPS for H1 FY26 came in at Rs 7.03 versus Rs 10.61. The auditor (DHA & Co.) issued an unqualified limited review report. Interest expenses rose materially to Rs 783.96 lakhs in H1 from Rs 608.10 lakhs, and operating cash flow turned sharply negative at Rs (822.63) lakhs.
Despite a stronger sequential quarter, the half-year numbers show profit compression and weakening cash generation, with debt-equity still elevated at 1.85x. Shareholders should note the heavy reliance on fair value gains, rising interest costs, and negative operating cash flow, which may weigh on near-term stock sentiment.