Unaudited Standalone & Consolidated Financial Results of the Company for the quarter and half year ended on September 30, 2025
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MPDL Ltd reported its Q2 FY26 results (quarter and half year ended September 30, 2025) with standalone net sales jumping sharply to Rs 846.60 lakhs (from Rs 216.37 lakhs in Q2 FY25) and H1 FY26 revenue at Rs 1,251.81 lakhs versus Rs 232.60 lakhs last year, driven by recognition of construction revenue from its M-1 Tower project in Faridabad on a percentage-of-completion basis. Despite the revenue surge, standalone loss before tax widened to Rs (222.95) lakhs in Q2 FY26 (from Rs (44.77) lakhs) and H1 FY26 loss stood at Rs (361.64) lakhs, with consolidated H1 FY26 net loss at Rs (368.31) lakhs and consolidated EPS at Rs (4.97) per share. Total expenses more than doubled to Rs 1,667.87 lakhs in H1 FY26 from Rs 349.77 lakhs, with inventory changes of Rs 983.01 lakhs being the biggest cost item, while operating cash flow remained deeply negative at Rs (354.16) lakhs. Short-term borrowings rose to Rs 5,555 lakhs (from Rs 5,187.76 lakhs as of March 2025), and the auditor flagged that the associate company (Cambridge Construction Delhi Pvt Ltd) figures were management-certified and not independently reviewed, though the overall review report was unqualified.
For shareholders, the sharply higher revenue is offset by worsening losses, negative operating cash flow, rising debt, and dependency on a single Faridabad project; near-term stock sentiment is likely to remain weak unless construction progress visibly accelerates cost recovery.