EFC (I)512008Quarterly results
Board approves Q2 and half-year results; auditor's review conclusion is qualified
Board of EFC (I) Ltd, at its meeting on November 2, 2026, approved the unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 33,201.89 | 25,459.24 | +30.4% | 28,287.99 | +17.4% |
| Total income | 34,270.22 | 25,681.70 | +33.4% | 29,429.79 | +16.4% |
| Profit before tax | 11,082.76 | 7,558.47 | +46.6% | 10,133.85 | +9.4% |
| Profit after tax | 7,726.02 | 5,671.19 | +36.2% | 7,085.20 | +9% |
| Total comprehensive income | 7,724.95 | 5,701.03 | +35.5% | 7,102.25 | +8.8% |
| Basic EPS | 5.36 | 3.98 | +34.7% | 4.83 | +11% |
- Profit after tax YoY growth
- +36.2%
- Period
- 30-Sep-26
Auditor's review
Conclusion: Qualified
- Qualified: unbilled revenue of ₹7638 lakh in other current assets recognised under Ind AS 115 input method; customer confirmations of work done awaited at date of review.
- Qualified: trade receivables in Ek Design Industries Limited include ₹18.95 crore outstanding over six months (₹8.31 crore over one year); ECL adequacy could not be determined.
- Emphasis/other matter: comparatives restated for merger of Whitehills Interior Limited with EFC (I) Limited; its prior figures reviewed by preceding auditors Nikhil Warankar & Co.
Notes to the results
- Pursuant to NCLT Mumbai order dated November 12, 2025, Whitehills Interior Limited merged with EFC (I) Limited w.e.f. November 28, 2025; pooling of interest method, comparatives restated.
What the board approved
- The board met on November 2, 2026 and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, along with the limited review reports issued by Mehra Goel & Co. LLP, the statutory auditors.
- The meeting commenced at 09:30 P.M. (IST) on November 2, 2026 and concluded at 12:25 A.M. (IST) on November 3, 2026.
The qualified review conclusion
Both the standalone and the consolidated limited review reports carry a qualified conclusion, built on two points:
- Other current assets include unbilled revenue of ₹7638 lakh as at September 30, 2026, being revenue recognised under Ind AS 115 for work performed but not yet billed under contractual milestones. It is supported by certificates from independent technical experts; confirmations of the work done from the customer were awaited at the date of the review.
- In the consolidated report, trade receivables in Ek Design Industries Limited as at September 30, 2026 include ₹18.95 crore outstanding for more than six months, of which ₹8.31 crore is outstanding for more than one year. The auditors state they could not obtain sufficient evidence on whether the expected credit loss allowance on these balances is adequate.
In simple words: the auditor is saying that, apart from the possible effects of these two matters, nothing came to its attention suggesting the statements are materially misstated. It is a qualification, not an adverse opinion, but it flags items worth weighing.
Standalone results, quarter and half year (₹ lakh)
- Revenue from operations for the quarter: 14,365.08, against 11,936.54 in the year-ago quarter.
- Total income for the quarter: 15,386.84, against 12,589.04.
- Profit for the period for the quarter: 1,492.94, against 3,034.87.
- Profit for the period for the half year: 2,721.21, against 5,527.12.
- Basic and diluted EPS for the quarter: ₹1.03, against ₹2.18.
Revenue is higher year on year for the quarter, while the profit lines are lower than the year-ago period.
Balance sheet and cash (₹ lakh)
- Total assets: 1,09,871.88 as at September 30, 2026, against 79,266.07 as at March 31, 2026.
- Total equity: 73,124.34.
- Net cash flows from operating activities for the half year: 4,051.60.
- Net cash used in investing activities: (17,418.11).
- Net cash generated from financing activities: 13,044.85, which includes proceeds from issue of equity shares of 15,994.16.
Merger background
- Following the National Company Law Tribunal, Mumbai Bench order dated November 12, 2025, Whitehills Interior Limited merged with EFC (I) Limited with effect from November 28, 2025, accounted under the pooling of interest method, so earlier-period figures are restated.
- The company reports a single reportable segment on a standalone basis, Interior.
What a retail investor can track
- Whether customer confirmations for the unbilled revenue come through, and how recovery of the Ek Design Industries receivables progresses.
- The cost lines behind the year-on-year fall in profit even as revenue rose.
- The effect of the merger on comparability, since prior-period numbers now include the merged business.
33,201.89 (₹ lakhs)Revenue from operations, latest quarter
Revenue from operations, year-ago quarter25,459.24 (₹ lakhs)
Profit after tax, latest quarter7,726.02 (₹ lakhs)
Also from EFC (I)
EFC (I) Ltd investor presentation: Q2 FY27 revenue up 30% YoY, Ultrafresh acquired for ₹54 Cr
3 Nov 2026
EFC (I) Ltd press release, Q2 FY27
3 Nov 2026
EFC (I) Ltd to host Q2 & H1 FY27 earnings conference call on November 3, 2026 at 11:00 AM IST
29 Oct 2026
More numbers
- Revenue from operations, standalone, quarter ended 30-Sep-2026 (₹ lakh)14,365.08
- Total income, standalone, quarter ended 30-Sep-2026 (₹ lakh)15,386.84
- Profit for the period, standalone, quarter ended 30-Sep-2026 (₹ lakh)1,492.94
- Profit for the period, standalone, half year ended 30-Sep-2026 (₹ lakh)2,721.21
- Basic EPS, standalone, quarter ended 30-Sep-2026 (₹ per share)1.03
- Unbilled revenue in other current assets as at 30-Sep-2026₹7638 lakh
- Ek Design Industries trade receivables outstanding over six months₹18.95 crore
- Of the above, outstanding for more than one year₹8.31 crore
- Total income, latest quarter34,270.22 (₹ lakhs)
- Total income, year-ago quarter25,681.70 (₹ lakhs)
- Total income, previous quarter29,429.79 (₹ lakhs)
- Total comprehensive income, latest quarter7,724.95 (₹ lakhs)
- Total comprehensive income, year-ago quarter5,701.03 (₹ lakhs)
- Total comprehensive income, previous quarter7,102.25 (₹ lakhs)
- Profit after tax, latest quarter7,726.02 (₹ lakhs)
- Profit after tax, year-ago quarter5,671.19 (₹ lakhs)
- Profit after tax, previous quarter7,085.20 (₹ lakhs)
- Revenue from operations, latest quarter33,201.89 (₹ lakhs)
- Revenue from operations, year-ago quarter25,459.24 (₹ lakhs)
- Revenue from operations, previous quarter28,287.99 (₹ lakhs)
- Profit before tax, latest quarter11,082.76 (₹ lakhs)
- Profit before tax, year-ago quarter7,558.47 (₹ lakhs)
- Profit before tax, previous quarter10,133.85 (₹ lakhs)
Source: BSE · 3 Nov 2026
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