Unaudited results for 30-09-2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.9 pts less than Nifty Microcap 250 and in line with its Trading & Distributors peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Muller & Phipps India reported Q2 FY26 revenue from operations of Rs. 181.60 lakhs, up about 50% from Rs. 121.08 lakhs in Q2 FY25. Despite the strong top-line growth, the company slipped back to a small net loss of Rs. 2.21 lakhs (standalone) and Rs. 3.16 lakhs (consolidated) for the quarter, after a one-off profit in Q1 FY26. On a half-year basis, the company swung to a net profit of Rs. 67.61 lakhs (standalone) / Rs. 66.57 lakhs (consolidated) compared to a loss of Rs. 16.00 lakhs in H1 FY25, helped by higher other income. The auditor explicitly flagged a going concern risk, noting accumulated losses of Rs. 205.17 lakhs and a negative net worth of Rs. 142.67 lakhs, though management believes the going concern basis remains appropriate. Operating cash flow remained negative at Rs. (1.74) lakhs for H1 FY26, though much improved from Rs. (33.60) lakhs a year ago.
The quarterly revenue jump is encouraging, but the negative net worth, auditor-flagged going concern issue, and negative operating cash flow signal serious financial health concerns for shareholders. The stock remains high-risk despite the half-year turnaround to profitability.