Financial Results for the quarter & half year ended 30.09.2025
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Suraj Products reported a sharp sequential and year-on-year slowdown in Q2 FY26. Standalone revenue from operations fell to Rs 5,869.35 lakhs, down about 22% from Rs 7,567.81 lakhs in Q2 FY25. Half-yearly revenue declined roughly 17% to Rs 13,938.93 lakhs versus Rs 16,831.57 lakhs a year ago. Profit before tax nearly halved to Rs 408.45 lakhs in Q2 (vs Rs 798.04 lakhs) and Rs 936.40 lakhs for the half year (vs Rs 1,642.50 lakhs). PAT stood at Rs 320.38 lakhs for the quarter and Rs 779.51 lakhs for H1, with EPS of Rs 2.81 and Rs 6.84 respectively. Margins compressed meaningfully, with PBT margin falling to about 6.9% in Q2 from 10.5% a year earlier. The company also released its first consolidated results, including its newly formed UAE subsidiary Suraj Iron & Steel Manufacturers, which is still in pre-revenue stage and received an AED 10 lakh unsecured loan from the parent.
Sharply lower revenue and profits, combined with margin compression, point to weak operating performance and may weigh on near-term sentiment. However, strong operating cash flow of Rs 2,247 lakhs, debt reduction, and a healthy equity base of Rs 15,492 lakhs provide some comfort. The subsidiary adds a long-term growth avenue but is not material in the near term.