Financial Results for the Qtr and half year ended on September 30, 2025
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Awaiting price reaction for this filing.
The Board approved standalone unaudited financial results for Q2 FY26 and H1 FY26 ended September 30, 2025. Revenue from operations for Q2 stood at ₹313.00 lakhs vs ₹98.10 lakhs in Q2 FY25, a sharp ~219% YoY jump. For the half-year, revenue surged to ₹623.16 lakhs from ₹98.10 lakhs in H1 FY25 (~535% growth). Profit after tax for Q2 was ₹40.71 lakhs (vs ₹19.48 lakhs YoY) and ₹80.80 lakhs for H1 (vs ₹23.56 lakhs YoY), translating to an EPS of ₹2.23 for the half-year. However, operating cash flow turned negative at -₹23.67 lakhs (vs +₹21.28 lakhs last year), mainly because trade receivables ballooned to ₹913.28 lakhs from ₹290.13 lakhs as of March 2025. The statutory auditor issued an unmodified limited review report, with a note drawing attention to the cash flow statement not being subjected to review.
The dramatic revenue and profit growth is a strong positive signal for the stock, but the negative operating cash flow and surging receivables (now ~3x equity) indicate that profits are largely on paper and not yet collected. Shareholders should weigh the headline earnings beat against worsening cash conversion and rising working-capital risk.