Spacenet Enterprises India Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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Spacenet Enterprises India Limited reported mixed FY2026 results with strong consolidated performance but weakness in standalone operations. Consolidated revenue grew 24% to ₹19,471.15 lakhs and PAT rose 35% to ₹1,644.89 lakhs, driven by near-doubling of service income from subsidiaries (₹5,405.59 lakhs to ₹10,142.14 lakhs). However, standalone revenue declined 10% to ₹9,141.56 lakhs and standalone PAT fell 20.5% to ₹239.62 lakhs, indicating the parent company's trading business is under pressure. The statutory auditors issued an unmodified (clean) opinion on both standalone and consolidated results. The Board declared an interim dividend of 1% (₹0.01 per share). Notably, non-current borrowings surged nearly 17x from ₹134.93 lakhs to ₹2,356.58 lakhs, suggesting significant debt-funded expansion. Operating cash flow remained positive at ₹2,257.44 lakhs on consolidated basis.
The strong consolidated growth driven by subsidiary performance is positive, but the standalone revenue decline and massive debt increase raise concerns about the parent's core business health and leverage risk. Investors should monitor the debt buildup and the growing reliance on subsidiaries for growth.