Board approved Q2/H1 FY27 results; auditor's limited review conclusion unmodified
Board met 23 Oct 2026 and approved unaudited consolidated and standalone results for Q2/H1 ended 30 Sep 2026, with auditors' Limited Review Reports; press release approved, results to be published in newspapers.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 4840.73 | 4011.31 | +20.7% | 3946.24 | +22.7% |
| Total income | 4849.96 | 4025.61 | +20.5% | 3955.66 | +22.6% |
| Profit before tax | 93.57 | 304.08 | −69.2% | 53.76 | +74.1% |
| Profit after tax | 65.07 | 226.86 | −71.3% | 44.09 | +47.6% |
| Total comprehensive income | 45.99 | 260.71 | −82.4% | 74.27 | −38.1% |
| Basic EPS | 2.29 | 7.96 | −71.2% | 1.55 | +47.7% |
- Total Income (Consolidated, Rs Cr)
- Latest 4849.96; Year ago 4025.61 (+20.5%); Prev qtr 3955.66 (+22.6%)
- Profit After Tax (Consolidated, Rs Cr)
- Latest 65.07; Year ago 226.86 (-71.3%); Prev qtr 44.09 (+47.6%)
- Period
- 30.09.2026 (Unaudited)
Auditor's review
Conclusion: Unmodified
- Emphasis of matter: Scheme of Amalgamation of subsidiary Cavendish Industries Ltd (CIL) with the Holding Company from appointed date April 1, 2025; comparatives for Sep 30, 2025 periods restated under Ind AS 103.
Notes to the results
- Exceptional items Q2: foreign exchange loss ₹6.15 crores (H1 gain ₹11.76 crores) and VRS expense ₹6.16 crores (H1 ₹10.47 crores).
- Stamp duty Nil for the quarter and ₹2.75 crores for the half year, pursuant to the Scheme of Amalgamation of Cavendish Industries Ltd. (CIL) with the Company.
- Comparative figures for 30.09.2025 restated after taking effect of the Scheme of Amalgamation of CIL with the Company.
What the board approved
- Unaudited consolidated and standalone financial results for the quarter and half year ended 30 September 2026
- Limited Review Reports dated 23 October 2026 of Lodha & Co LLP on both sets of results
- The press release issued after the meeting; the results are also being published in newspapers
Auditor's review conclusion
Lodha & Co LLP states that, based on its review and the reports of other auditors, nothing has come to its attention that causes it to believe the statement contains any material misstatement or has not disclosed information required under the listing regulations.
The report draws attention to the Scheme of Amalgamation of Cavendish Industries Ltd (then a subsidiary) with the company from the appointed date of 1 April 2025, approved by the National Company Law Tribunal on 20 November 2025 and effective 22 December 2025. Comparative figures for the quarter and half year ended 30 September 2025 have been restated accordingly. The conclusion is not modified in respect of this matter.
The report also notes that the results of certain overseas subsidiaries and associates were reviewed by other auditors, and that some subsidiaries and associates were not reviewed by their auditors; management has stated those results are not material to the group.
Consolidated results (Rs. in crore)
- Revenue from operations: 4840.73 in the quarter, against 4011.31 a year earlier; 8786.97 for the half year, against 7880.25
- Total income: 4849.96 in the quarter
- Profit before tax: 93.57, against 304.08 a year earlier; 147.33 for the half year
- Profit after tax: 65.07, against 226.86 a year earlier; 109.16 for the half year, against 390.21
- Earnings per share (basic/diluted, face value Rs. 2): 2.20, against 7.96 a year earlier
What weighed on the quarter — exceptional items
- Foreign exchange loss of Rs. 6.15 crore in the quarter; a gain of Rs. 11.76 crore for the half year
- VRS expense of Rs. 6.16 crore in the quarter and Rs. 10.47 crore for the half year
- Stamp duty Nil in the quarter and Rs. 2.75 crore for the half year, in connection with the Cavendish amalgamation
Segment picture (consolidated, quarter)
- Segment revenue: India 4453.19, Mexico 478.31, Others 0.61
- Segment result (profit before finance costs, exceptional items and tax): India 208.08, against 386.53 a year earlier; Mexico 7.06, against 32.60
Standalone results (Rs. in crore)
- Revenue from operations: 4452.06, against 3515.93 a year earlier
- Operating profit (PBIDT): 314.45
- Profit before tax: 82.08, against 285.02 a year earlier
- Profit after tax: 60.68, against 211.95 a year earlier
Balance sheet and cash flow pointers (consolidated)
- Total assets 17760.31 as at 30 September 2026, against 15995.86 as at 31 March 2026
- Non-current borrowings 2661.51; current borrowings 3325.28
- Net cash used in operating activities for the half year: (145.55), against a inflow of 866.15 a year earlier
- Dividend paid during the half year: 115.31
In the notes, the company also states that it secured the highest rating ESG 1+ from CareEdge for the 3rd year in a row.
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More numbers
- Consolidated Revenue from operations, H1 FY278786.97
- Consolidated Profit after tax, H1 FY27109.16
- Standalone Profit after tax, Q2 FY2760.68
- Consolidated basic/diluted EPS, Q2 FY272.20
- Foreign exchange loss, exceptional item, Q2 FY276.15
- Total income, latest quarter4849.96 (₹ in Crores)
- Total income, year-ago quarter4025.61 (₹ in Crores)
- Total income, previous quarter3955.66 (₹ in Crores)
- Total comprehensive income, latest quarter45.99 (₹ in Crores)
- Total comprehensive income, year-ago quarter260.71 (₹ in Crores)
- Total comprehensive income, previous quarter74.27 (₹ in Crores)
- Profit after tax, latest quarter65.07 (₹ in Crores)
- Profit after tax, year-ago quarter226.86 (₹ in Crores)
- Profit after tax, previous quarter44.09 (₹ in Crores)
- Revenue from operations, latest quarter4840.73 (₹ in Crores)
- Revenue from operations, year-ago quarter4011.31 (₹ in Crores)
- Revenue from operations, previous quarter3946.24 (₹ in Crores)
- Profit before tax, latest quarter93.57 (₹ in Crores)
- Profit before tax, year-ago quarter304.08 (₹ in Crores)
- Profit before tax, previous quarter53.76 (₹ in Crores)
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