Standalone and Consolidated Un-audited Financial Results for the half year ended 30th September, 2025 along with Statement of Assets and Liabilities as per Securities and Exchange Board ....
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Rikhav Securities' Board approved H1 FY26 (Apr–Sep 2025) unaudited results. Standalone revenue from operations surged to ₹37,991.40 lakhs from ₹9,299.46 lakhs in H1 FY25, while standalone PAT fell sharply to ₹1,785.53 lakhs from ₹5,078.90 lakhs (~65% YoY decline). Standalone EPS dropped to ₹4.66 from ₹16.95. Consolidated PAT was ₹1,775.85 lakhs vs ₹5,067.16 lakhs in H1 FY25. The huge revenue jump is largely a presentation change — a new 'Purchases of Stock in Trade' line of ₹38,570.34 lakhs appears in FY26 with no prior-period comparable, making year-on-year revenue comparison not meaningful. Additionally, fixed deposits were reclassified from 'Long-term Loans & Advances' to 'Bank balances' (Note 4/7). The auditor (AHSP & Co LLP) issued an unmodified limited review report on both standalone and consolidated results. Operating cash flow remained healthy at ~₹1,974 lakhs, and net worth rose to ₹24,439 lakhs. Wholly-owned subsidiary RSL IFSC Pvt Ltd reported negligible assets (₹0.42 lakh) and a ₹9.68 lakh loss.
Headline revenue surge is misleading due to reclassification of trading-stock presentation — underlying profitability has actually weakened sharply with PAT falling ~65% YoY. Short-term stock reaction could be negative given the steep earnings decline, though stable cash flows and a clean audit opinion provide some comfort.