Outcome of Board Meeting
SINGERIND · price
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Singer India's board, meeting on November 12, 2025, approved unaudited results for Q2 and H1 FY26 (ended Sept 30, 2025). Q2 revenue from operations jumped ~30% YoY to Rs. 137.90 crore (vs Rs. 105.76 crore), with H1 revenue up ~12.5% to Rs. 230 crore. Q2 profit after tax surged to Rs. 3.83 crore (vs Rs. 1.27 crore), though H1 PAT slipped to Rs. 1.47 crore from Rs. 1.83 crore. Sewing machines drove growth, while domestic appliances segment losses widened. The board also cleared a preferential issue of up to 5,65,397 equity shares at Rs. 79.59 each (~Rs. 4.5 crore) to Sweden's VSM Group Aktiebolag, a non-promoter, subject to shareholder approval via postal ballot. Two trademark license agreements with related global entity Singer Sourcing Limited LLC (USA) were amended to allow manufacturing/out-sourcing of Zig Zag machines under 'Singer' and 'Merritt' brands in India. The registered office will shift to Vasant Kunj, Delhi, from January 15, 2026. The auditor flagged an ongoing matter around the cancellation of a BIS license for a vendor's Zig Zag machine imports (writ pending in Delhi High Court, next hearing January 22, 2026) as an Emphasis of Matter. A fire at the registered office on July 13, 2025 caused a small Rs. 7.81 lakh loss but did not disrupt operations.
Strong Q2 rebound in core sewing machines business and a major turnaround in operating cash flow (Rs. 21 crore vs outflow of Rs. 12 crore last year) are positives, though the small H1 PAT dip, wider losses in domestic appliances, and unresolved BIS issue keep the outlook mixed. The preferential allotment brings in a strategic Swedish investor (VSM Group) and the Zig Zag manufacturing rights open a new export avenue, which could support longer-term growth.