Consolidated Sep 2026 quarter: revenue down 9.3%, profit after tax up 138% year on year

Going-concern doubtQualified audit opinionEmphasis of matterRevenue declinedProfit growth above 25%Exceptional itemResults View source PDF Explain this filing

SADBHAV · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+6.1%Reaction day

₹7.07

prior close

₹7.20

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is usedpendingvs market: pending

Road Assets - Toll Annuity Hybrid-Annuity peers, median of 6sector+0.7%+5.3% vs sector

On the reaction day the stock moved 5.3 pts more than its Road Assets - Toll Annuity Hybrid-Annuity peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.7

10m

+0.3

15m

+1.1

30m

+1.4

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+6.1pendingpending+0.7+5.3

Next day

+1.6pendingpending+0.3+1.3

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15d

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UpDownMarket · Nifty Microcap 250Sector · Road Assets - Toll Annuity Hybrid-Annuity peers, median of 6Pending

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AI summary

For the consolidated quarter ended Sep 30, 2026, revenue from operations was Rs 22,666.81 lakh, down 9.3% from Rs 24,988.63 lakh in Sep 2025; profit after tax was Rs 6,386.94 lakh, up 137.8% from Rs 2,685.66 lakh. EBITDA margin rose 10.9 points to 69.9%; an exceptional gain of Rs 17.85 lakh. The review was qualified on asset recovery; auditors flagged a material risk to continuity. Manubhai and Shah resigned November 4, citing reduced activity.

Likely market impact

Profit and margin improved, but revenue fell. The qualified review, continuity concerns, very high debt and auditor resignation keep risk high.

By the numbersConsolidated · Q2 FY27 vs Q2 FY26

	Q2 FY27	Q2 FY26	Change
Revenue	₹226.7 Cr	₹249.9 Cr	−9.3%
Profit after tax	₹63.87 Cr	₹26.86 Cr	+137.8%

From the company's XBRL filing, not from the text above. Operating profit and EBITDA margin are not shown for banks and lenders, whose other income is their business.