Unaudited Standalone Financial Results for the Quarter ended 30th September 2025
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Upsurge Investment & Finance reported weak Q2 FY26 results. Total revenue from operations fell to Rs 2,287.80 lakhs from Rs 3,940.47 lakhs in Q2 FY25, a decline of roughly 42% year-on-year. Profit before tax collapsed to Rs 93.57 lakhs (vs Rs 1,181.00 lakhs) and profit after tax for the quarter plunged to Rs 93.57 lakhs from Rs 939.17 lakhs, with basic EPS dropping to Rs 0.47 from Rs 5.18. For the half year, revenue declined to Rs 4,536.79 lakhs (vs Rs 5,887.71 lakhs) and PAT fell to Rs 861.55 lakhs (vs Rs 1,388.59 lakhs). Despite the weak operating performance, total assets grew to Rs 13,973.68 lakhs, backed by a sharp increase in borrowings to Rs 2,603.73 lakhs (from Rs 19.05 lakhs). Operating cash flow for H1 was positive at Rs 702.08 lakhs, a turnaround from negative cash flow in FY25. The auditor's review report is clean with no qualifications.
Sharp drop in quarterly profits and revenue signals serious operational headwinds for this NBFC and is likely to weigh negatively on the stock. The large jump in borrowings alongside weakening earnings raises leverage concerns, though the positive operating cash flow in H1 provides some comfort.