Half-year results approved; inadvertent promoter shareholding error in FY2026 notes to be rectified
The board approved un-audited standalone results for the half year ended 30.09.2026, along with the statutory auditor's Limited Review Report, whose conclusion finds nothing that points to any material misstatement.
By ScoutQuest · · 3 min read
- Revenue from operations (H1 ended 30.09.2026)
- Rs. 30,303.58 lakhs
- Profit for the period
- Rs. 3,241.57 lakhs, against Rs. 426.43 lakhs in the same period a year earlier
- Corrected promoter shareholding
- 1,47,84,500 equity shares, about 72.62%, against 1,57,84,500, about 77.53%
The board meeting on 30 October 2026 produced two things: the half-year numbers, and a correction to a shareholding note inside last year's audited accounts.
Financial results
- The board approved un-audited standalone financial results for the half year ended 30 September 2026. Statutory auditors M Parashar & Company carried out a limited review.
- Revenue from operations: Rs. 30,303.58 lakhs.
- Profit for the year: Rs. 3,241.57 lakhs, against Rs. 426.43 lakhs in the corresponding period a year earlier.
- The company's own note attributes the better realisation per unit sold mainly to the middle east war over the last six months, which lowered the supplier's production capacity and increased the transit period for imports, even as sales turnover rose only marginally.
The auditor's conclusion
The limited review report states that nothing has come to the auditor's attention that causes them to believe the accompanying un-audited financial statements contain any material misstatement. A review is narrower in scope than an audit, and the auditors state they do not express an audit opinion.
The shareholding correction
- Note Nos. 3.3 and 3.4 of the audited financial statements for the year ended 31 March 2026 were prepared without giving effect to the transfer of shares under the offer for sale, so promoter shareholding was carried forward at the pre-OFS level.
- The offer for sale involved 10,00,000 existing equity shares sold by the promoter selling shareholders to public investors. Because it was a transfer of existing shares, promoter holdings had to come down by that number; no fresh shares were issued and paid-up capital did not change.
- As originally disclosed, aggregate promoter shareholding at 31 March 2026 was 1,57,84,500 equity shares, about 77.53% of the paid-up equity share capital.
- Corrected, it is 1,47,84,500 equity shares, about 72.62%. The company notes the corrected figure is subject to verification of the underlying figures and percentages.
What the company says the error does not touch
- It is confined to those two disclosure notes in the audited financial statements.
- It does not represent any discrepancy in the actual shareholding records or any change in the underlying share capital.
- The balance sheet, statement of profit and loss, cash flow statement and earnings per share are unaffected.
- Promoter shareholding was, according to the company, correctly reflected in the shareholding pattern shared with the exchange and elsewhere in the annual report.
What happens next
- The matter was placed before the audit committee and the board for consideration and approval, and the statutory auditors are being consulted on the appropriate manner of rectification.
- The company says it will undertake the necessary corrective updates or submissions, including rectification of Form AOC-4 XBRL, and make the corrected disclosures available to investors through its website.
How a reader can weigh this
- The numbers presented for the half year are standalone and un-audited, reviewed rather than audited, so they carry the assurance level of a limited review.
- The correction changes how much of the company the promoters held at 31 March 2026, not how many shares the company has issued or what it earned.
- The corrected promoter stake, about 72.62%, still leaves a small public float, which is useful context for anyone tracking liquidity and free-float availability.
Also from Bhavik Enterprises
Board meeting on 30 October 2026 to consider unaudited results for half year ended 30 September 2026
23 Oct 2026
More numbers
- Revenue from operations, half year ended Sep 2026 (standalone, un-audited)30,303.58 (₹ in Lakhs)
- Profit for the year, half year ended Sep 2026 (standalone, un-audited)3,241.57 (₹ in Lakhs)
- Profit for the year, half year ended Sep 2025 (comparative)426.43 (₹ in Lakhs)
- Equity shares sold under the offer for sale10,00,000
- Corrected aggregate promoter shareholding as at 31 March 20261,47,84,500
- Corrected promoter shareholding as % of paid-up equity capital72.62%
- Originally disclosed aggregate promoter shareholding as at 31 March 20261,57,84,500
- Originally disclosed promoter shareholding as % of paid-up equity capital77.53%
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