Un-Audited (Standalone and Consolidated) Financial Results for September 30, 2025
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Ruparel Food Products Ltd (formerly Mehta Housing Finance Ltd, renamed on January 29, 2025) reported its first revenue from food operations: ₹233.16 lacs in Q2 FY26 versus zero revenue in Q1 FY26 and zero in Q2 FY25, indicating the company is just beginning its new business line. On a half-year basis, standalone revenue grew to ₹233.16 lacs from ₹204.40 lacs in H1 FY25 (~14% growth). Standalone losses narrowed slightly to ₹8.13 lacs in H1 FY26 from ₹9.35 lacs in H1 FY25, with a Q2 standalone loss of just ₹0.56 lacs. On a consolidated basis, the company turned profitable with a total profit after tax of ₹14.89 lacs for H1 FY26 (₹8.23 lacs in Q2 alone), driven entirely by its share of profits from associate SAMT Foods Private Limited. The auditor (VCA & Associates) issued an unmodified limited review report with no qualifications. Cash and bank balances declined from ₹59.14 lacs to ₹51.58 lacs during the half year, indicating negative operating cash flow.
Standalone performance remains weak with continued losses and negligible revenue, but the appearance of operating revenue marks a transition from the legacy housing finance business. Shareholders benefit from the associate's contribution (SAMT Foods), which lifts consolidated numbers into profit. Watch for revenue scale-up and whether the new food business can become self-sustaining without the associate's support.