Unaudited Financial Results for the second quarter and first half year ended 30-09-2025
NEAGI · price
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Neelamalai Agro Industries reported Q2 FY26 standalone revenue from operations of Rs. 486.66 lakhs, down ~22.7% from Rs. 629.50 lakhs in Q2 FY25; H1 FY26 revenue fell to Rs. 1,129.75 lakhs from Rs. 1,262.23 lakhs. Standalone Q2 PAT dropped sharply to Rs. 220.64 lakhs (vs Rs. 561.99 lakhs) and H1 PAT fell to Rs. 328.28 lakhs (vs Rs. 608.97 lakhs). On a consolidated basis, however, H1 FY26 PAT grew ~28% to Rs. 1,308.32 lakhs from Rs. 1,019.93 lakhs, driven entirely by share of profits from associates (AVT Natural Products) and JV (AVT McCormick Ingredients), which contributed Rs. 1,381.19 lakhs versus Rs. 794.28 lakhs a year ago. Standalone operating cash flow was negative Rs. 104.34 lakhs in H1 FY26. A final dividend of Rs. 30 per share (300%) was paid in August 2025.
Core standalone plantation operations are clearly weakening with falling revenue and profit, but consolidated earnings remain buoyed by strong associate/JV contributions. Investors should keep an eye on the cash flow position and whether the underlying business can stabilise, since the headline consolidated growth masks a deteriorating standalone performance.