We submit herewith Un-audited Financial Results for the Second Quarter and Half year ended 30.09.2025 duly approved at the Board Meeting held on Tuesday, 11th November, 2025 along with ....
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Nilkanth Engineering Limited reported its Q2 FY26 and H1 FY26 results on a standalone and consolidated basis. On a standalone basis, the company had zero revenue from operations and only ₹6.00 lakh in other income, against total expenses of ₹14.95 lakh, resulting in a net loss of ₹8.94 lakh for the quarter and ₹15.62 lakh for the half year (EPS of ₹(0.72) and ₹(1.25) respectively). The consolidated numbers tell a very different story: a net profit of ₹74.82 lakh for Q2 and ₹130.62 lakh for H1 (EPS ₹6.01 and ₹10.49), driven almost entirely by the company's share of profits from three associate companies (Jatayu Textiles, Sushree Trading, and Osiris Online), which contributed ₹146.24 lakh in H1 FY26 versus ₹70.64 lakh in H1 FY25 — roughly a doubling. The standalone balance sheet is concerning: other equity has turned deeply negative at ₹(493.67) lakh as of 30 September 2025, down from ₹(13.35) lakh at March 2025, while total assets have shrunk to ₹1,133.92 lakh. The statutory auditor (M/s PKJ & Co.) issued an unqualified limited review report.
On a standalone basis the company is essentially dormant — no operating revenue, persistent losses, deeply negative shareholder funds, and a cash balance of just ₹4.31 lakh — which is a red flag for investors looking at the parent entity. The profitability story sits in the associate companies; consolidated PAT more than doubled YoY in H1, but shareholders should weigh how much of the value depends on associates rather than the listed parent. Expect the stock to move based on consolidated associate performance, but standalone weakness and negative net worth raise going-concern concerns.