Outcome of Board meeting
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The Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, along with the auditor's limited review report. Standalone Q2 revenue rose ~26% YoY to Rs. 195.98 lakhs, while H1 revenue grew ~41% to Rs. 317.53 lakhs. Standalone H1 profit after tax grew ~31% to Rs. 125.53 lakhs. Consolidated Q2 revenue jumped sharply to Rs. 1,684.33 lakhs and PAT stood at Rs. 66.41 lakhs, driven by subsidiary consolidation. The company raised Rs. 19.16 crore via a Rights Issue in July 2025, with funds being deployed toward working capital, business expansion, and subsidiary investments. No defaults were reported on loans or debt securities. A related party transaction of Rs. 1,000 lakhs involved acquisition of equity shares in subsidiary PavaPuri Export Private Limited.
Strong top-line growth on a consolidated basis and healthy H1 PAT growth are positives, but standalone Q2 PAT was nearly flat YoY and EBITDA margins compressed sharply due to a spike in other expenses. Negative operating cash flow in both standalone and consolidated results is a concern and warrants close monitoring.