Results- Financial Results for the Quarter ended September 30,2025
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Naksh Precious Metals (formerly Vaksons Automobiles) reported weak Q2 FY26 results with standalone revenue from operations falling about 37% to Rs. 33.28 lakhs (vs Rs. 53.11 lakhs in Q2 FY25). Net profit for the quarter dropped sharply to Rs. 5.88 lakhs from Rs. 15.75 lakhs a year ago, with EPS at Rs. 0.06 (vs Rs. 0.15). For H1 FY26, standalone revenue declined to Rs. 65.53 lakhs (vs Rs. 106.13 lakhs) and net profit fell to Rs. 13.67 lakhs (vs Rs. 23.46 lakhs). The auditor's review report flagged an Emphasis of Matter noting that Rs. 163.56 lakhs of cash-in-hand has no supporting verification documents, and that GST and TDS compliance is pending reconciliation. The balance sheet shows negative reserves and surplus of Rs. (390.74) lakhs, indicating accumulated losses, while the company has shifted its identity from an automobile business to precious metals.
The decline in revenue and profit, combined with the auditor's emphasis of matter flagging an unverifiable cash-in-hand balance of over Rs. 1.63 crore and pending tax reconciliations, raises serious governance and audit-quality concerns that could weigh negatively on the stock. Negative accumulated reserves highlight that the company remains financially weak despite the name change to a precious metals business.