Financial Results for the quarter and half year ended 30-09-2025
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Tulsyan NEC reported standalone net sales of ₹21,472.85 lakhs in Q2 FY26, up about 19% from ₹18,051.99 lakhs in Q2 FY25, but the company slipped deeper into losses with a net loss of ₹592.85 lakhs versus ₹476.61 lakhs a year ago. For H1 FY26, standalone net loss widened sharply to ₹1,693.20 lakhs from ₹437.33 lakhs in H1 FY25, even as revenue rose only marginally to ₹44,768.55 lakhs. The key concern is the near-doubling of finance costs to ₹3,386.22 lakhs in H1 FY26 (from ₹1,761.43 lakhs), which is dragging down profitability. On a consolidated basis, Q2 loss stood at ₹609.49 lakhs and H1 loss at ₹1,634.43 lakhs. Operating cash flow on a standalone basis turned negative at ₹(201.18) lakhs for H1 FY26, indicating the company is spending more on working capital than it earns from operations. Total debt remains high with borrowings of about ₹36,564 lakhs against equity of ₹25,638 lakhs.
Despite a modest revenue uptick, widening losses, surging finance costs, and negative standalone operating cash flow paint a worrying picture for shareholders — the stock may face pressure as profitability continues to deteriorate, though the consolidated business remains marginally cash positive from operations.