Announcement under Regulation 30 (LODR) - Results
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The board approved standalone and consolidated unaudited financial results for the quarter and half year ended 30 September 2025. Standalone results showed nil revenue from operations with a loss before tax of Rs 9.08 lakh in Q2 and Rs 21.38 lakh in H1 FY26, translating to negative EPS of Rs 0.23 and Rs 0.53 respectively. Consolidated revenue from operations stood at Rs 7,514.58 lakh for Q2 FY26 (up from Rs 5,290 lakh in Q2 FY25) and Rs 11,270.39 lakh for H1 FY26. Consolidated profit after tax was Rs 33.56 lakh in Q2 FY26 and Rs 533.20 lakh in H1 FY26, versus Rs 154.80 lakh and Rs 629.47 lakh in the corresponding prior year periods. On the standalone balance sheet, total equity of Rs 1,221.66 lakh is dwarfed by total borrowings of around Rs 3,630 lakh (non-current loans Rs 1,631.37 lakh plus current loans Rs 1,999.07 lakh). Statutory auditor KPSJ & Associates LLP issued an unqualified limited review report on both sets of results.
The listed entity continues to report standalone losses with a high standalone debt-to-equity ratio of roughly 3x and no direct operating revenue, effectively functioning as a holding company for subsidiary Palco Recycle Industries. While consolidated Q2 revenue grew sharply year-on-year, H1 consolidated PAT declined about 15% versus H1 FY25, which could temper near-term investor enthusiasm.