The Board of Directors of the Company at its Meeting held today i.e. 13th November, 2025, has inter alia, considered, approved and recommended the Un-audited Financial Results (Standalone ....
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The board approved unaudited standalone and consolidated financial results for Q2 FY26 and H1 FY26 (quarter and six months ended September 30, 2025). On a standalone basis, revenue from operations for H1 FY26 grew about 36% year-on-year to Rs. 86.05 crore, while net profit after tax jumped roughly 117% to Rs. 5.77 crore from Rs. 2.65 crore a year ago. Q2 standalone profit rose to Rs. 3.05 crore versus Rs. 1.70 crore in Q2 FY25, with EPS of Rs. 0.31 for H1 (vs Rs. 0.15). This is the first set of consolidated results, prepared after the company picked up a 51% stake in RDB Bhopal Infrastructure and a 26% stake in Naar Projects during the quarter. Separately, 10 lakh warrants held by a non-promoter allottee were converted into equity shares, bringing in Rs. 3.04 crore and taking paid-up capital to Rs. 20.39 crore. The statutory auditor flagged a concern that the Rs. 60 crore Anjana project slump sale booked in Q1 FY26 should have been shown as 'Other Income' rather than revenue from operations, though the auditor still issued an unmodified limited review conclusion subject to this observation.
Headline earnings growth is strong on both revenue and profit, which is supportive for the stock. However, the auditor's specific note on how the Rs. 60 crore Anjana transaction was classified in revenue, combined with first-time consolidated reporting, warrants close scrutiny by investors for transparency and earnings quality.