The Unaudited Financial Results along with Limited Review Report for the Quarter Ended 30th September, 2025
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Bharatam Ventures (formerly Pet Plastics Ltd) reported its Q2 FY26 results on 14 November 2025. On a standalone basis, the company posted a profit of ₹14.35 lakhs for Q2 FY26 versus ₹3.10 lakhs in Q2 FY25, while revenue slipped to ₹117.15 lakhs from ₹124.92 lakhs. Despite the Q2 turnaround, the standalone half-year remained in the red at a loss of ₹18.82 lakhs. The consolidated numbers were far weaker, with a half-year net loss of ₹121.20 lakhs compared to just ₹2.38 lakhs in H1 FY25, hurt by losses at its subsidiary Exuberant Systems. Consolidated borrowings ballooned from ₹10.32 lakhs to ₹1,498.14 lakhs, and intangible assets of ₹1,793.73 lakhs appeared on the balance sheet, suggesting acquisitions. Auditor N K Mittal & Associates gave an unqualified review report but noted that prior period figures were reviewed by the predecessor auditor, pointing to a mid-year auditor change. The board also approved related party transactions for the half year.
Standalone operations showed a sequential improvement, but the consolidated results reveal significantly deepening losses and a sharp jump in debt, raising questions about the financial health of the new subsidiary. Shareholders should monitor how the recently acquired businesses perform and whether the heavy borrowings can be serviced going forward.