Outcome of Board Meeting dated 10.11.2025.
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Sarthak Industries' board approved its unaudited standalone financial results for Q2 and H1 FY26 (ended September 30, 2025). Revenue from operations surged to Rs. 8,291.84 lacs in Q2 FY26 from Rs. 3,215.77 lacs in Q2 FY25, a jump of about 158% YoY, driven largely by the trading business (Rs. 8,177 lacs vs cylinders at just Rs. 116 lacs). However, Q2 net profit fell sharply to Rs. 31.95 lacs from Rs. 87.85 lacs YoY due to a loss in the cylinders segment and higher current tax. H1 FY26 PAT rose modestly to Rs. 145.58 lacs (vs Rs. 113.11 lacs). Operating cash flow turned deeply negative at Rs. (1,486.73) lacs, and total borrowings rose to Rs. 1,472 lacs from Rs. 542 lacs a year ago. The statutory auditor (Ashok Khasgiwala & Co. LLP) issued an unqualified limited review report.
The headline revenue surge looks strong but is driven mainly by low-margin trading activity, while profitability in Q2 actually contracted and operating cash flow is sharply negative. Shareholders should note the rising working-capital needs and borrowings alongside thin Q2 margins, which could weigh on near-term sentiment despite the topline growth.