Unaudited Financial Results for the quarter and half year ended 30th september 2025
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Vivid Mercantile reported standalone unaudited results for Q2 FY26, with revenue from operations of ₹136.57 lakh, up sharply from ₹32.86 lakh in Q2 FY25. Profit after tax for the quarter was ₹91.24 lakh (EPS ₹0.91), versus ₹24.99 lakh a year ago. For the half year ended September 2025, revenue from operations fell to ₹305.81 lakh from ₹980.76 lakh in H1 FY25, a steep drop of around 69%, while profit after tax jumped to ₹212.59 lakh from ₹65.34 lakh, largely helped by negative changes in inventory (stock being built up rather than sold). Total assets rose to ₹6,514.84 lakh and total equity grew to ₹5,584.37 lakh. Short-term borrowings more than doubled to ₹578.36 lakh, and the company reported a negative operating cash flow of ₹318.51 lakh for the half year.
The sharp fall in half-yearly revenue is a concern despite the rise in reported profit, as the profit bump comes mainly from inventory build-up rather than core trading activity. Rising short-term borrowings and negative operating cash flow suggest the company is funding inventory and working capital through debt, which shareholders should watch closely.