AIAditya Infotech544466Quarterly results

Board meeting outcome: 30% stake in KGraph AI for ₹45,38,85,993.60; unmodified review of Q2 FY27 results

Board meeting of 5 Nov 2026 approved the September-quarter results and a 30% stake in KGraph AI Solutions Pvt Ltd, on a fully diluted basis, for an aggregated cash consideration of ₹45,38,85,993.60.

By ScoutQuest · Thu 5 Nov 2026, 6:21 PM IST · 4 min read

Profit after tax YoY growth

+214%

Period

Quarter ended 30 September 2026

Other decisions at the board meeting

• Acquisition of 30% stake in KGraph AI Solutions Private Limited on a fully diluted basis, against an aggregated cash consideration of ₹45,38,85,993.60, described in the update as the Proposed Transaction.
• The company has executed a Share Subscription and Share Purchase Agreement and a Shareholders' Agreement with the target company, its promoters and certain existing selling shareholders.
• The financial results of the company for the quarter and half year ended 30 September 2026, standalone and consolidated, were considered and approved on the Audit Committee's recommendation.

Auditor's conclusion

Walker Chandiok & Co LLP issued unmodified Limited Review Reports on both the standalone and consolidated unaudited results for the quarter and half year ended 30 September 2026. The review conclusion states that nothing came to the auditors' attention that causes them to believe the statements have not disclosed the required information, or that they contain any material misstatement. A review is narrower than an audit and the auditors do not express an audit opinion.

Standalone results (Rs. in million)

• Revenue from operations: 17,413.94 for the quarter ended 30 September 2026, against 9,046.51 in the quarter ended 30 September 2025; 31,399.86 for the half year, against 16,355.07.
• Total income: 17,454.03 for the quarter, against 9,081.36.
• Profit before tax: 2,800.06 for the quarter, against 868.30.
• Profit after tax: 2,064.93 for the quarter, against 657.66; 3,473.85 for the half year, against 968.66.
• Basic and diluted earnings per share: 17.44 for the quarter, against 5.87.
• Total comprehensive income: 2,072.01 for the quarter.

Balance sheet (standalone, Rs. in million)

• Total assets 46,938.01 as at 30 September 2026, against 26,703.72 as at 31 March 2026.
• Total equity 34,516.55, against 16,409.04.
• Cash and cash equivalents 14,242.55, against 1,595.05.
• Inventories 6,234.75, against 2,482.88; Trade receivables 16,508.10, against 14,049.13.

Cash flow (standalone, half year, Rs. in million)

• Net cash used in operating activities 1,049.24, against net cash generated of 991.09 in the same half of the previous year.
• Net cash from financing activities 16,412.24, which includes 15,000.00 from issue of equity share capital including securities premium.
• Net increase in cash and cash equivalents 12,647.50.

The qualified institutional placement

• 43,26,507 equity shares of face value of Rs. 1 each issued at Rs. 3,467 per share, including a share premium of Rs. 3,466 per share, aggregating to Rs. 15,000.00 million, completed on 25 September 2026.
• Planned use as per the placement document (Rs. in million): 3,250.00 for prepayment or repayment of certain outstanding borrowings; 6,500.00 for capital expenditure through investments in the material subsidiary; 4,904.99 for funding inorganic growth and general corporate purposes; total 14,654.99.
• Amount utilised up to 30 September 2026: nil; amount pending utilisation 14,654.99. The total is net of share issue expenses of Rs. 345.01 million.

Other disclosures in the notes

• A show cause notice dated 30 March 2025 proposed a demand of Rs. 103.29 million for alleged incorrect availing of concessional rate of duty on import of 4G routers. The Commissioner of Customs, Chennai (Imports) passed an order on 13 January 2026 raising a demand of Rs. 103.29 million along with penalties of Rs. 308.58 million. The company shared an appeal before the Customs, Excise and Service Tax Appellate Tribunal on 7 April 2026 and has deposited Rs. 60.00 million under protest; the matter is pending.
• Subsequent event: 48,100 equity shares of face value of Rs. 1 each were allotted on 30 October 2026 to eligible employees on exercise of options under the ESOP 2024. Paid-up equity share capital rose from Rs. 122.63 million (12,26,26,942 shares) to Rs. 122.68 million (12,26,75,042 shares).

How a retail investor can read this

• The board approved a minority 30% stake in an AI solutions company, KGraph AI Solutions Private Limited, with a cash outflow of ₹45,38,85,993.60. Being an equity purchase of a stake, it is a use of cash and adds an investee to the group; the update describes the transaction as proposed.
• The results carry an unmodified review conclusion from the statutory auditors, which is the auditors' clean closing statement for a limited review of interim results.
• The quarter's standalone Revenue from operations of 17,413.94 and Profit after tax of 2,064.93 (Rs. in million) are the key printed line items to compare against the year-earlier figures.
• The company raised Rs. 15,000.00 million through the placement in September 2026; none of the planned 14,654.99 had been utilised as at 30 September 2026, so its effect on operations would follow the spending.
• The half year's operating cash flow was negative at 1,049.24 (Rs. in million) while financing inflows were large, a mix worth tracking alongside the profit figures.

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