Financial Results of 2nd Quarter and Half year ended 30th September 2025 of Star Delta Transformers Limited.
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Star Delta Transformers' Board approved its Q2 FY26 results on November 14, 2025, with the statutory auditor issuing an unmodified (clean) limited review opinion. Total revenue for Q2 FY26 stood at Rs. 4,421.53 lacs, up roughly 18% year-on-year from Rs. 3,752.64 lacs in Q2 FY25. Profit after tax for the quarter jumped about 38% YoY to Rs. 397.33 lacs from Rs. 287.47 lacs, with EPS of Rs. 13.24 (vs Rs. 9.58). For the half year, total revenue grew about 3.5% to Rs. 7,504.93 lacs and PAT rose roughly 15% to Rs. 624.40 lacs. However, operating cash flow turned sharply negative at Rs. (941.89) lacs in H1 FY26 versus a positive Rs. 330.64 lacs in H1 FY25, largely due to a build-up in inventories and trade receivables.
Short-term earnings momentum is positive, with PAT growing over 25% YoY on the back of steady margins in the core transformers segment. However, the sharp swing to negative operating cash flow is a watch-out, signalling working-capital strain that could pressure liquidity if it persists.