Q2/H1 FY27 results approved; auditor flags emphasis of matter on receivables and tax reconciliation
Board met on Saturday, 07 November 2026 and approved the unaudited standalone financial results for Q2 and H1 ended 30 September 2026, taking on record the limited review reports of Maheshwari & Co. The review conclusion is clean.
By ScoutQuest · · 2 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 324.00 | 4,370.54 | −92.6% | 3,770.31 | −91.4% |
| Total income | 339.50 | 4,365.75 | −92.2% | 3,789.47 | −91% |
| Profit before tax | (98.85) | (4.75) | — | (9.82) | −907% |
| Profit after tax | (99.16) | (4.75) | — | (10.07) | −885% |
| Total comprehensive income | (99.17) | (4.75) | — | (10.07) | −885% |
| Basic EPS | (0.40) | (0.02) | — | (0.04) | −900% |
- Total income Year ago
- 4,365.75 (−92.2%)
- Period
- Quarter Ended 30/09/2026
Auditor's review
Conclusion: Unmodified
- Emphasis of Matter: Note 5(a) — Trade Receivables, Trade Payables and Loans & Advances are subject to confirmation, reconciliation and adjustment, if any required; MSME classification is based on available information with management.
- Emphasis of Matter: Note 5(b) — statutory compliance with respect to GST and TDS is subject to reconciliation and subsequent adjustment, if any required.
Notes to the results
- Note 5(a): Balances in Trade Receivables, Trade Payables and Loans & Advance are subject to confirmation, reconciliation and adjustment, if any required.
- Note 5(a): Classification of Trade Payables as MSME and Others is based on available information with management.
- Note 5(b): Statutory compliance with respect to GST and TDS is subject to reconciliation and subsequent adjustment, if any required.
- Note 5(c): Management does not expect any material adjustment in respect of such reconciliation/adjustments.
Board meeting outcome
The board of Asian Petroproducts & Exports met on Saturday, 07 November 2026 and approved the unaudited standalone financial results for the quarter and half year ended 30 September 2026. The limited review reports from the statutory auditors, Maheshwari & Co., Chartered Accountants, were taken on record along with the results.
Auditor's review: clean, with two matters flagged
The auditors' conclusion is that nothing came to their attention that causes them to believe the statement contains a material misstatement or omits a required disclosure. They add an Emphasis of Matter asking readers to note two points:
- Note 5(a): balances of Trade Receivables, Trade Payables and Loans & Advances are subject to confirmation, reconciliation and adjustment, if required; the split of Trade Payables between MSME and Others is based on information available with management
- Note 5(b): statutory compliance with respect to GST and TDS is subject to reconciliation and subsequent adjustment
In simple terms: the numbers are not qualified, but some of the balances behind them can still move once they are confirmed with counterparties and reconciled.
Results at a glance (standalone, Rs. in lakh)
- 'Revenue from operations' was 324.00 in Q2 FY27, against 4,370.54 in Q2 FY26
- 'Profit/(Loss) for the period' was (99.16) in Q2 FY27 and (109.23) for H1 FY27, against a profit of 8.97 for H1 FY26
- The company's operations fall under a single segment as per Ind AS-108
Balance sheet and cash
- Trade receivables stood at 3019.02 as at 30 September 2026, far above the revenue booked in the quarter, which is why the auditor's note on confirmation carries weight
- Total equity was 1,188.45
- Net cash used in operating activities was (1,106.32) for H1 FY27
What this means for a retail reader
- The company moved from a small profit in H1 FY26 to a loss in H1 FY27, on much lower revenue, so the headline movement is in earnings rather than in the top line alone
- The auditor is not questioning the accounts as presented; the emphasis paragraph is a pointer that receivable, payable and advance balances, plus GST/TDS positions, are still to be reconciled, so reported figures may see adjustments later
- The emphasis paragraph is not a qualification, and the loss figures are as printed in the reviewed statement
Also from Asian Petroproducts & Exports
Board meeting on 07th November, 2026 to consider unaudited results
4 Nov 2026
Revised EGM notice: allottee name corrected; members to vote on preferential share and warrant issues
16 Oct 2026
EGM notice: preferential issue of 96,00,000 shares, 1,00,00,000 warrants, 40,00,000 shares proposed
16 Oct 2026
More numbers
- Profit/(Loss) for the period, H1 FY27 (Rs. in lakh)(109.23)
- Profit/(Loss) for the period, H1 FY26 (Rs. in lakh)8.97
- Trade receivables as at 30-09-2026 (Rs. in lakh)3019.02
- Total equity as at 30-09-2026 (Rs. in lakh)1,188.45
- Net cash used in operating activities, H1 FY27 (Rs. in lakh)(1,106.32)
- Total income, latest quarter339.50 (Rs. In Lakhs)
- Total income, year-ago quarter4,365.75 (Rs. In Lakhs)
- Total income, previous quarter3,789.47 (Rs. In Lakhs)
- Total comprehensive income, latest quarter(99.17) (Rs. In Lakhs)
- Total comprehensive income, year-ago quarter(4.75) (Rs. In Lakhs)
- Total comprehensive income, previous quarter(10.07) (Rs. In Lakhs)
- Profit after tax, latest quarter(99.16) (Rs. In Lakhs)
- Profit after tax, year-ago quarter(4.75) (Rs. In Lakhs)
- Profit after tax, previous quarter(10.07) (Rs. In Lakhs)
- Revenue from operations, latest quarter324.00 (Rs. In Lakhs)
- Revenue from operations, year-ago quarter4,370.54 (Rs. In Lakhs)
- Revenue from operations, previous quarter3,770.31 (Rs. In Lakhs)
- Profit before tax, latest quarter(98.85) (Rs. In Lakhs)
- Profit before tax, year-ago quarter(4.75) (Rs. In Lakhs)
- Profit before tax, previous quarter(9.82) (Rs. In Lakhs)
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