Consideration of Financial Results for the quarter and half year ended 30.09.2025
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RSD Finance reported a sharp fall in Q2 standalone revenue from operations at ₹118.60 lakh versus ₹273.11 lakh in Q2 FY25, with standalone PAT dropping to ₹79.24 lakh from ₹224.04 lakh. Standalone EPS for the quarter fell to ₹0.43 from ₹1.89. The consolidated picture was dominated by the divestment of a 65% stake in Sigma HTS LLP (a heat-treatment business) to 19%, removing that segment from consolidation. Consolidated Q2 revenue from operations fell to ₹627.96 lakh from ₹2,944.13 lakh, while consolidated PAT declined to ₹275.59 lakh from ₹559.28 lakh. On the half-year basis, consolidated PAT dipped to ₹1,059.73 lakh from ₹1,254.73 lakh, with EPS of ₹8.13 versus ₹11.11. The auditor (S D Y & Co) issued an unmodified limited review report on both sets of results. Standalone operating cash flow stayed negative at -₹103.31 lakh, though consolidated operating cash flow was positive at ₹1,367.15 lakh.
Sharp top-line and profit decline on a standalone basis reflects weaker interest income and fair-value losses, which is negative for near-term earnings. The big consolidated drop is largely a bookkeeping effect from stepping out of the heat-treatment business, so the underlying investment, hotel and jobwork segments are the real drivers to watch for shareholders.