Results - Financial Results for quarter and half year ended 30.09.2025
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On a consolidated basis (including subsidiaries), revenue from operations for H1 FY26 stood at Rs. 3,299.16 lakhs, up about 54% from Rs. 2,137.98 lakhs in H1 FY25. Net profit after tax for H1 FY26 was Rs. 353.21 lakhs, nearly 91% higher than Rs. 185.29 lakhs a year ago. Q2 FY26 standalone PAT was a loss of Rs. 32.89 lakhs with zero revenue from operations, as the parent company has effectively become a holding entity. Growth was driven mainly by the Paper & Paperboard segment (Rs. 2,450.31 lakhs in H1) and the newly added Financial Technology segment (Paynov8 Pvt Ltd, Rs. 838.69 lakhs) after the April 2025 acquisition. The board also approved a name change to 'NGL Limited', subject to shareholder and MCA approval.
Shareholders should note that nearly all business value now sits in subsidiaries (paper, garments, fintech), while the standalone listed entity itself generates no operating revenue and posted losses. The consolidated numbers are strong, but the standalone weakness and the proposed name change signal a strategic pivot away from the legacy granite business.