FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED ON 13.11.2025
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 20.0 pts more than Nifty Microcap 250 and 19.9 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Vasundhara Rasayans reported Q2 FY26 revenue from operations of ₹882.08 lakhs, down from ₹978.26 lakhs in Q2 FY25, a decline of about 9.8%. Despite the revenue dip, net profit jumped to ₹205.72 lakhs (vs ₹146.59 lakhs), up roughly 40%, helped by lower raw material and other expenses. For the half year, revenue slipped to ₹1,638.23 lakhs from ₹1,741.25 lakhs, but net profit still grew to ₹263.00 lakhs from ₹232.74 lakhs, taking H1 EPS to ₹8.28 vs ₹7.32. The auditor (Mamta Jain & Associates) issued an unmodified limited review report. However, the cash flow statement shows sharply negative operating cash flow of ₹(654.20) lakhs for the half year, and cash balances dropped from ₹554.14 lakhs to ₹118.59 lakhs, while loans and advances on the balance sheet ballooned to ₹2,897.86 lakhs.
Profit growth on shrinking top-line is positive in the short term but raises quality-of-earnings concerns, and the steep negative operating cash flow plus a sharp fall in cash balance is a red flag investors should watch closely.