As Attached
PROSTARM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Prostarm Info Systems reported strong full-year results for FY2026. Standalone revenue grew 9.25% to ₹37,788 Lakhs from ₹34,589 Lakhs, while consolidated revenue rose 10.02% to ₹38,577 Lakhs. Standalone PAT increased 13.86% to ₹3,474 Lakhs and consolidated PAT grew 14.40% to ₹3,300 Lakhs. EPS on consolidated basis stood at ₹5.86 (vs ₹6.92 prior year) due to higher share count post-IPO. The statutory auditors issued an unmodified (clean) opinion on both standalone and consolidated results with no qualifications. The company raised ₹14,893 Lakhs net from its IPO and is seeking shareholder approval via postal ballot to vary the utilisation of IPO proceeds and to amend the ESOP 2024 plan. Three new subsidiaries (Prostarm Energy Systems, Karnataka BESS, Bihar BESS) contributed ₹940 Lakhs in revenue but posted a consolidated net loss of ₹174 Lakhs. A key concern is that operating cash flow turned deeply negative at ₹-3,629 Lakhs, largely driven by a ₹14,916 Lakhs surge in trade receivables.
Revenue and profit growth are healthy but below double-digit growth expectations. The clean audit opinion is positive. However, the sharp deterioration in operating cash flow and rising receivables are red flags that could weigh on investor sentiment, especially given the IPO proceeds are being partially reallocated.