Outcome of the Board Meeting held on 14th November, 2025
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The Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, with statutory auditors M/s Agrawal & Kedia issuing an unqualified limited review opinion. Standalone H1 FY26 revenue fell sharply to ₹1,544.75 lakhs from ₹2,915.47 lakhs in H1 FY25 (down ~47%), while net profit dropped to ₹951.89 lakhs from ₹1,818.87 lakhs (down ~48%). On a consolidated basis, H1 revenue declined to ₹10,605.37 lakhs from ₹15,593.82 lakhs (~32% drop) and net profit fell to ₹710.25 lakhs from ₹1,891.95 lakhs (~62% drop). Standalone EPS for H1 stood at ₹4.14 (vs ₹7.94 for full FY25 annualized comparable), while consolidated EPS for H1 was ₹3.10. Notably, standalone operating cash flow turned negative at ₹(145.92) lakhs in H1 FY26 versus a positive ₹5,615.42 lakhs in FY25.
Sharp year-on-year declines in both revenue and profitability across standalone and consolidated results, combined with negative standalone operating cash flow, signal weakening core performance and could weigh negatively on the stock. The trading and manufacturing segments remained loss-making at the consolidated level, while the capital market segment continued to be the primary profit driver.