Unaudited Financial Results for the quarter and half-year ended September 30, 2025 alongwith Limited Review Report by the Statutory Auditors.
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Standalone revenue from operations for Q2 FY26 fell to Rs 1,150.15 lakhs from Rs 1,377.37 lakhs YoY (~16% decline), and H1 FY26 revenue dipped slightly to Rs 3,779.63 lakhs vs Rs 3,851.71 lakhs. Standalone Q2 net profit crashed to Rs 17.59 lakhs from Rs 299.58 lakhs YoY, while H1 standalone net profit of Rs 1,957.34 lakhs was propped up by a one-time exceptional gain of Rs 1,540.95 lakhs from the buyback-led sale of equity in associate Nicco Engineering Services Ltd (NESL). On a consolidated basis, H1 swung to a net loss of Rs (291.97) lakhs from a profit of Rs 1,422 lakhs, as the same NESL transaction reflected a Rs 1,409.89 lakhs exceptional loss. The core Park Operations segment posted a Rs (64.80) lakhs loss in Q2. The company's core business is its amusement park and F&B facility on government-leased land where the original 33-year lease expired in February 2023 and renewal is still pending.
The auditor Lodha & Co LLP gave an unmodified conclusion but flagged a material going concern uncertainty due to the pending lease renewal, exposing the company to operational continuity risk. Q2 operational profitability is weak when the exceptional gain is stripped out, and the West Bengal government's decision to repossess 1.46 acres of land used for F&B operations adds further uncertainty to future earnings.