Statement of Deviation & Variation for the quarter ended 30-06-2025
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Pervasive Commodities Limited (formerly Starvox Electronics) submitted its Q1 FY26 unaudited results along with a deviation/v variation statement. Total income for the quarter stood at Rs. 394.44 lakhs, up 82% YoY from Rs. 216.81 lakhs in Q1 FY25 but sharply lower than Rs. 1,303.98 lakhs in Q4 FY25. Net profit came in at Rs. 9.86 lakhs versus a loss of Rs. 59.92 lakhs in the previous quarter, though it was lower than Rs. 31.35 lakhs earned in Q1 FY25. Basic EPS was Rs. 1.04 (restated for the recent stock split from Rs. 10 to Rs. 1 face value, record date 7 April 2025). The company also confirmed that the Rs. 90 crore raised via a preferential issue on 20 May 2025 has been fully deployed for working capital with no deviation. The company operates only in agricultural product trading and has no loan defaults.
The quarter shows a sequential turnaround from a Rs. 60 lakh loss to a Rs. 9.86 lakh profit, but YoY profit declined sharply due to higher trading costs. The full deployment of Rs. 90 crore warrant money into working capital, with no deviation flagged, is a positive governance signal. The recent 10:1 stock split should improve retail liquidity, but the stock remains a small-cap with modest absolute earnings.