Outcome of the Board Meeting and Submission of the Unaudited Standalone & Consolidated Financial Results for the half year ended on September 30, 2025
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The board approved unaudited financial results for the half year ended September 30, 2025. Revenue from operations fell to ₹63,781.80 lakhs from ₹75,900.81 lakhs in the prior-year period, a drop of about 16%. Standalone net profit slipped marginally to ₹5,806.11 lakhs (from ₹6,046.35 lakhs), while consolidated net profit (including the share from joint venture HKRP Innovations) stood at ₹5,878.23 lakhs. Profit before tax actually edged up to ₹8,047.90 lakhs, suggesting stable margins despite the topline decline. The company adopted Ind AS for the first time effective April 1, 2025, restating prior comparatives, which the auditor flagged as an Emphasis of Matter. Operating cash flow turned sharply negative at ₹-2,312.79 lakhs (vs ₹72.84 lakhs in H1 FY25), largely due to inventory build-up and higher receivables/other assets, leaving cash and equivalents at just ₹33.91 lakhs against ₹2,218.31 lakhs at year-end FY25.
The topline contraction and the swing into negative operating cash flow are red flags for a recently-listed SME company, and could pressure the stock in the near term. However, profitability held steady and IPO proceeds remain available, so the impact hinges on whether H2 FY26 shows recovery in revenue collections and working capital.