Please find attached approved unaudited financial results for the quarter ended 30 September 2025, both standalone and consolidated.
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Southern Infoconsultants Ltd (formerly Southern Infosys Ltd) submitted its Q2 FY26 and H1 FY26 results along with the auditor's limited review report. Revenue from operations for the quarter stood around ₹509 lakhs while total income for H1 FY26 was roughly ₹1,939 lakhs. Profit before tax was negative at about ₹(7.69) lakhs standalone, indicating the company slipped into a loss at the operating level. Operating cash flow improved sharply to ₹56.75 lakhs in H1 FY26 versus a negative ₹263.45 lakhs in H1 FY25. The auditor (Mukesh Aggarwal & Co.) issued a qualified opinion, noting the company has not made any provision for gratuity as required under Ind AS 19, which overstates profits and understates liabilities. Emphasis of matter was also raised on unconfirmed trade receivables/payables balances and on ₹964 lakhs of work-in-progress inventory that the auditor could not verify due to lack of supporting contracts.
The qualified opinion and emphasis of matter are red flags for retail investors — reported profits are likely overstated and balance sheet quality is questionable. The company also changed auditors mid-year (prior period audited by another firm), which warrants closer scrutiny. Near-term, the weak profitability and audit qualifications could weigh on the stock, though the swing to positive operating cash flow is a small positive.