UN AUDITED FINANCIAL RESULTS FOR THE HALF YEAR ENDED 30.09.2025
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Tarini International reported its H1 FY26 (April–September 2025) results with standalone revenue from operations flat at Rs 99 lakh year-on-year, while consolidated revenue rose modestly to Rs 108 lakh from Rs 105 lakh. Standalone profit after tax improved to Rs 34.09 lakh (vs Rs 27.98 lakh in H1 FY25), but consolidated PAT declined to Rs 99.09 lakh (vs Rs 107.09 lakh) due to lower share of profits from associates (Rs 73.08 lakh vs Rs 77.19 lakh). Standalone EPS stood at Rs 0.27 and consolidated EPS at Rs 0.68. The statutory auditor issued a qualified opinion and an emphasis of matter, flagging that subsidiary investments of Rs 121.59 lakh carry no provision for diminution despite eroded net worths, and that certain receivables/loans remain unconfirmed. The auditor also highlighted a going-concern doubt at the subsidiary level, an Enforcement Directorate attachment of a farm house (stayed by Delhi HC), and a Rs 505 lakh SEBI penalty under appeal in the Supreme Court. Consolidated operating cash flow turned negative at Rs (9.78) lakh.
Shareholders should note the qualified auditor opinion and the going-concern flag on subsidiaries, along with the ongoing Rs 505 lakh SEBI penalty appeal and ED attachment, which together create real downside risk to the stock. Standalone earnings improved modestly, but weak consolidated cash generation and reliance on associate profits for the bottom line make the picture mixed for the share price.