Unaudited Results for the quarter ended 30-06-2025
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Muller & Phipps India reported standalone net sales of ₹92.10 lakhs for Q1 FY26, down sharply from ₹149.17 lakhs in Q1 FY25, a drop of about 38%. However, total income (including other income of ₹107.18 lakhs versus ₹6.30 lakhs last year) rose to ₹199.28 lakhs, and the company swung to a net profit of ₹69.82 lakhs from ₹6.24 lakhs in the year-ago quarter, with EPS of ₹11.17 versus ₹1.00. Consolidated numbers show the same pattern, with profit of ₹69.73 lakhs. The board also approved the 108th AGM for September 23, 2025, and announced a change in directors and appointment of a new Company Secretary. The company's other equity stood at a negative ₹270.38 lakhs as of FY25, indicating accumulated losses have eroded reserves below zero despite this quarter's profit.
While headline profits look strong, they are largely driven by non-operating 'other income' rather than the core business, which is contracting. The negative other equity is a concern for shareholders as it signals past losses have wiped out reserves, and sustainability of profits will depend on reversing the revenue decline.