Outcome of the Board Meeting for the Quarter Ended on 30.09.2025
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The Board approved the unaudited financial results for Q2 FY26 and the half year ended 30 September 2025, along with a Limited Review Report from statutory auditor Mayur Shah & Associates (clean/unqualified review). Net sales rose to Rs. 2,242.80 lakhs in Q2 FY26 from Rs. 1,631.71 lakhs in Q2 FY25, a jump of about 37% year-on-year; for H1 FY26, net sales grew to Rs. 4,044.64 lakhs versus Rs. 2,230.19 lakhs in H1 FY25, nearly doubling. The company swung from a loss before tax of Rs. 70.56 lakhs in Q2 FY25 to a profit before tax of Rs. 178.62 lakhs in Q2 FY26, with basic EPS of Rs. 0.53 versus a loss of Rs. 0.21 per share. Total income for Q2 included Rs. 270.21 lakhs of other income (largely from sale of a plot/asset), which flatters operating profitability. The balance sheet shows total equity of Rs. 1,178.41 lakhs (still a negative other-equity reserve of Rs. -2,225.59 lakhs), total borrowings of about Rs. 2,610.92 lakhs, and net cash from operating activities that remained negative at Rs. -154.42 lakhs for H1 FY26.
Strong top-line growth and a turnaround to profit are positive for shareholders, but the profit is partly supported by one-off other income, the company continues to carry accumulated losses in reserves, debt is high relative to equity, and operating cash flow is still negative — so quality of earnings and cash conversion remain watchpoints.