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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 5.7 pts more than Nifty Microcap 250 and 6.6 pts more than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Vipul Organics reported nearly flat revenue growth for Q2 FY26 at Rs 3,943.49 lakh versus Rs 3,923.97 lakh in Q2 FY25 (about 0.5% growth). For H1 FY26, revenue was Rs 7,703.43 lakh, marginally lower than Rs 7,730.03 lakh in H1 FY25. However, profit after tax jumped sharply to Rs 181.32 lakh in Q2 FY26 from Rs 106.29 lakh in Q2 FY25 (around 70% growth), and H1 FY26 PAT rose to Rs 308.20 lakh from Rs 220.19 lakh earlier. EPS for Q2 stood at Rs 1.15 vs Rs 0.66. The company had raised funds through a rights issue in April 2025 (44.37 lakh shares at Rs 46), with capital work-in-progress more than doubling to Rs 2,139.58 lakh, signalling ongoing capacity expansion. Statutory auditors J.A. Rajani & Co. issued a clean limited review report with no qualifications.
Strong PAT growth despite flat top-line indicates meaningful margin expansion, which is positive for shareholders. The capex push and rights-funded balance sheet point to a growth-investment phase. Investors should watch the negative operating cash flow of Rs 455 lakh in H1 due to higher inventory and receivables, though this is supported by fresh equity.