Outcome of the Board Meeting held on Wednesday, 12th November, 2025
ZSARACOM · price
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The Board approved both standalone and consolidated unaudited financial results for Q2 FY26 and the half year ended September 30, 2025, along with the limited review report from statutory auditors GBCA & Associates LLP. Standalone total revenue from operations for Q2 FY26 was Rs 7,327.35 lakhs (vs Rs 7,830.89 lakhs in Q2 FY25, a decline of ~6.4%), and net profit after tax was Rs 6,030.07 lakhs (vs Rs 6,332.58 lakhs). For H1 FY26, standalone revenue fell to Rs 10,474.04 lakhs from Rs 14,652.27 lakhs in H1 FY25 (~28.5% decline), with PAT at Rs 8,388.19 lakhs versus Rs 11,577.23 lakhs (~27.5% decline), mainly due to lower net fair value gains on investments. Reported basic EPS for H1 FY26 stood at Rs 836.66 (vs Rs 1,124.08 in H1 FY25). The company also disclosed a mid-year change in statutory auditors — GBCA & Associates LLP replaced Ajmera Ajmera and Associates, who had reviewed the Q1 FY26 results.
Shareholders should note the YoY decline in both revenue and profit, driven largely by weaker mark-to-market gains on the company's investment portfolio. The negative net operating cash flow of Rs 8,107.68 lakhs in H1 FY26 and the mid-year auditor change are points worth monitoring, even though profitability still remained positive and capital position is strong (other equity of Rs 1,06,319 lakhs on a standalone basis).