Consider and approve Audited Financial Results (Standalone & Consolidated) of the Company for the half year ended 31st March, 2026 issued by the Statutory Auditors of the Company.
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The company reported standalone revenue of Rs 18,539.39 lakhs (up 16.8% YoY) but standalone profit after tax declined sharply to Rs 506.67 lakhs from Rs 1,075.21 lakhs (down 52.8%). On consolidated basis, revenue grew 61.4% to Rs 25,594.84 lakhs and PAT rose 55% to Rs 1,666.36 lakhs, driven by newly incorporated subsidiaries SIF Saudi Arabia (net profit Rs 1,159.70 lakhs) and SIF International FZE (net profit Rs 1,175.62 lakhs). The auditors issued clean opinions with no qualifications. However, operating cash flow turned significantly negative at Rs 2,546.45 lakhs (consolidated), with trade receivables and inventories both showing large increases during the year. The company completed salary restructuring under new labour codes with immaterial impact.
The standalone profit decline despite revenue growth raises concerns about margin compression, though the consolidated results show strong contribution from international subsidiaries. The negative operating cash flow is a significant red flag that investors should monitor closely.