Sigma Solve Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
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Sigma Solve's board approved unaudited results for Q2 and H1 FY26 on October 31, 2025, with the auditor issuing an unmodified (clean) review report. On a consolidated basis, revenue from operations grew about 50% year-on-year for the quarter (Rs. 2,558.59 lakh vs Rs. 1,705.25 lakh) and around 40% for the half year (Rs. 4,624.39 lakh vs Rs. 3,305.47 lakh), while net profit jumped about 62% for the quarter (Rs. 665.30 lakh) and 47% for the half year (Rs. 1,183.69 lakh). Standalone numbers were more modest, with Q2 revenue up roughly 40% (Rs. 1,063.16 lakh) and PAT up about 33% (Rs. 192.84 lakh), but H1 standalone PAT grew only around 3% (Rs. 318.18 lakh) on rising employee and other expenses. A notable red flag is that standalone operating cash flow turned sharply negative at minus Rs. 409.17 lakh for H1 (vs positive Rs. 179.63 lakh a year ago), driven by a big jump in trade receivables from Rs. 282.31 lakh to Rs. 1,071.84 lakh. The filing also notes a 1:10 share split (Rs. 10 face value to Rs. 1) effective October 6, 2025, and an approved final dividend of Rs. 0.50 per share for FY25.
Strong consolidated revenue and profit growth is a positive signal for the business, but the steep drop in standalone operating cash flow and the surge in receivables suggest working capital is stretched, which could weigh on near-term sentiment. Overall, the growth story remains intact, but cash conversion deserves close watch.