Un-audited Financial Results for the Quarter and Half Year Ended 30th September, 2025 (Q2)
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RIR Power Electronics reported strong Q2 FY26 results with standalone revenue from operations rising ~36% year-on-year to ₹2,564 lakhs (vs ₹1,882 lakhs in Q2 FY25), while profit after tax jumped roughly 103% to ₹295 lakhs (vs ₹145 lakhs). For the half-year (H1 FY26), standalone revenue grew ~17% to ₹4,666 lakhs and PAT rose ~12% to ₹458 lakhs; on a consolidated basis, Q2 PAT surged to ₹403 lakhs. Operating profitability improved, with EBITDA margin (PBT + depreciation + finance costs as a % of sales) expanding from about 15.5% in Q2 FY25 to roughly 19.6% in Q2 FY26. Key corporate actions during the quarter included a 1:1 bonus issue, a stock split from ₹10 to ₹2 face value, conversion of 28.35 lakh warrants into equity shares, a ₹32.56 crore government grant from Odisha for a new project, and the sale of its wholly-owned subsidiary Visicon Electronics Pvt Ltd (gain of ₹1.13 crore shown as exceptional item). However, standalone operating cash flow for the half year was negative at ₹(571) lakhs despite higher profits.
Strong top-line and bottom-line growth, margin expansion, and the Odisha government grant are positive signals for the business outlook and future capacity expansion. Shareholders should note meaningful dilution from the bonus issue, stock split and warrant conversion, a one-off exceptional gain from the subsidiary sale, and weak standalone operating cash flow that suggests working capital is consuming cash despite higher profits.