Outcome of the Board Meeting held on 14.10.2025
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The board of Sulabh Engineers & Services Ltd, an NBFC, approved its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025. Standalone Q2 FY26 revenue from operations stood at Rs. 111.20 lakhs (vs Rs. 127.13 lakhs in Q2 FY25), with profit after tax of Rs. 63.63 lakhs (down from Rs. 89.48 lakhs YoY). H1 FY26 standalone PAT was Rs. 123.71 lakhs with EPS of Rs. 0.123. On a consolidated basis, Q2 PAT was Rs. 54.12 lakhs and H1 PAT was Rs. 117.00 lakhs, pulled down by subsidiary Venkatswamy Mining & Estates Pvt Ltd which reported a Rs. 6.71 lakh loss. Limited review was conducted by M/s Ranjit Jain & Co. with an unmodified conclusion, though subsidiary figures were not independently reviewed. Total assets rose to Rs. 3,277.76 lakhs (standalone) and Rs. 4,838.64 lakhs (consolidated) as of September 30, 2025.
Sequential earnings improvement on standalone basis (PAT up from Rs. 60.08 to Rs. 63.63 lakhs QoQ) is a mild positive, but a ~29% YoY decline in standalone PAT signals pressure on profitability. Weakness at the subsidiary level is a concern, though the overall small scale keeps impact limited for shareholders.