Unaudited Standalone and Consolidated financial results for the quarter and half year ended 30.09.2025.
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On a standalone basis, the company reported a net loss of Rs 20.29 lakh in Q2 FY26 versus a loss of Rs 24.60 lakh in Q2 FY25, an improvement but still in the red. Revenue from operations fell to Rs 29.87 lakh from Rs 32.44 lakh YoY. For H1 FY26, standalone net loss narrowed to Rs 43.17 lakh from Rs 59.49 lakh, with revenue modestly higher at Rs 69.03 lakh vs Rs 63.60 lakh. The standalone balance sheet shows negative equity of Rs (48.97) lakh, indicating accumulated losses have wiped out shareholder funds. On a consolidated basis, results swing wildly due to its associate Malwa Chemtex Udyog Ltd, which contributed a loss of Rs 1,685.90 lakh in Q2 but a profit of Rs 3,348.39 lakh in Q1. Standalone operating cash flow was negative Rs 15.10 lakh in H1 FY26.
This is a negative signal for shareholders: the standalone business is loss-making with negative net worth, raising going-concern concerns despite the narrowed quarterly loss. Consolidated earnings are volatile and almost entirely driven by the associate's results rather than the parent's operations, making the stock's valuation highly leveraged to Malwa Chemtex's performance.