Unaudited Financial Results for the Quarter and Half Year Ended September 30, 2025 along with Limited Review Report is enclosed
NATIONSTD · price
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National Standard (India) Limited reported a sharp jump in revenue from operations to Rs 1,725.18 lakhs in Q2 FY26 from Rs 380.25 lakhs in Q2 FY25, driven by its single real estate development segment. Total income for the quarter rose to Rs 2,344.03 lakhs versus Rs 817.03 lakhs a year ago. However, profit after tax slipped to Rs 425.66 lakhs (EPS Rs 2.13) from Rs 480.44 lakhs (EPS Rs 2.40), partly due to higher project costs. The six-month picture mirrors this: revenue surged to Rs 1,725.18 lakhs vs Rs 382.85 lakhs, while PAT eased to Rs 524.34 lakhs from Rs 744.70 lakhs. Statutory auditor MSKA & Associates issued an unmodified (clean) limited review report. The company also flagged that its scheme of merger by absorption with Lodha Developers Limited (formerly Macrotech Developers), approved on 30-July-2024 and modified on 11-August-2025, remains in progress.
Strong revenue growth from the real estate segment is a positive, but the year-on-year dip in profitability and persistent negative operating cash flow (Rs (397.93) lakhs in H1) may weigh on near-term sentiment. Investors should watch progress on the pending merger with Lodha Developers, which could be a material re-rating event.