This is in continuation to our earlier letter today dated November 14, 2025 wherein the Consolidated and Standalone Unaudited Financial Results of the Company for the quarter and half-year ....
PRAVEG · price
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Praveg Ltd reported weak profitability for Q2 FY26 despite H1 FY26 revenue growth. Consolidated H1 FY26 total income rose 28.94% to ₹77.71 Cr, but the company swung to a net loss of ₹14.97 Cr compared to a net profit of ₹2.17 Cr in H1 FY25. Q2 FY26 consolidated net loss stood at ₹9.22 Cr versus a ₹1.40 Cr profit a year earlier, with EBITDA plunging 62.62% to ₹3.96 Cr. Standalone results were sharper, with Q2 EBITDA crashing 95.21% to ₹0.41 Cr and a net loss of ₹10.13 Cr. Management attributed the margin pressure to higher operating costs at newly launched properties, four seasonal resorts remaining closed in Q2, and fixed lease commitments under the PPP model. The portfolio now spans 825+ rooms across 17 operational resorts and one five-star hotel, with the new Praveg Adalaj Theme Park commencing operations on September 25, 2025.
Sharp swing from profit to loss and steep EBITDA decline are negative signals for shareholders, likely to weigh on the stock in the near term. However, management frames the pain as temporary and tied to expansion and seasonal cycles, so investors will watch occupancy and new-property ramp-up closely for a recovery.