September-quarter results approved; ₹117 crore corporate guarantee for subsidiary's 35 MW solar project
Board meeting on November 3, 2026 approved the standalone and consolidated unaudited 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 | 26,240 | 24,870 | +5.5% | 14,904 | +76.1% |
| Total income | 26,841 | 25,794 | +4.1% | 15,950 | +68.3% |
| Profit before tax | 146 | 2,178 | −93.3% | (3,171) | — |
| Profit after tax | 117 | 1,626 | −92.8% | (2,342) | — |
| Total comprehensive income | 118 | 1,613 | −92.7% | (2,342) | — |
| Basic EPS | 0.56 | 7.84 | −92.9% | (11.30) | — |
- Profit after tax year ago
- 1,626 (−92.8%)
- Period
- Quarter ended September 30, 2026
Also decided at the meeting
- Approved issuance of a corporate guarantee in favour of IDBI Trusteeship Services Limited (Security Trustee for Punjab National Bank) for term loan of up to ₹117 crore to be availed by WOS MCFL Energy Projects Private Limited.
- The guaranteed loan is for the subsidiary's proposed 35 MW solar power project in Madhya Pradesh; guarantee to be treated as a contingent liability.
Auditor's review
Conclusion: Unmodified
Notes to the results
- Company incorporated wholly owned subsidiary MCFL Energy Projects Private Limited on January 19, 2026 for solar power projects under PM KUSUM-C Scheme (MPUVNL Letters of Award).
- Group recognised increase in gratuity and leave encashment liabilities under new Labour Codes in employee benefit expenses for year ended March 31, 2026; no further material impact expected.
- Group's business is seasonal; performance in any quarter may not be representative of annual performance.
What the board approved
- The standalone and consolidated unaudited financial results for the quarter and half year ended September 30, 2026, along with the Statement of Assets and Liabilities and Cash Flow Statement as at September 30, 2026 and the Limited Review Report of Deloitte Haskins & Sells, Statutory Auditors.
- The issuance of a corporate guarantee in favour of IDBI Trusteeship Services Limited, acting as Security Trustee for Punjab National Bank, in respect of credit facilities to be availed by MCFL Energy Projects Private Limited, an unlisted wholly owned subsidiary.
- The guarantee secures repayment of the term loan facility of up to ₹117 crore (Rupees One Hundred and Seventeen Crore only), together with interest, costs, charges, expenses and other monies payable, for the borrower's proposed 35 MW solar power project in Madhya Pradesh.
What the guarantee involves
- The disclosure table describes the guarantee as a contingent liability for the Company and states that presently there is no impact of this guarantee on the Company. In simple terms, it is a promise to repay the subsidiary's loan if the subsidiary cannot; it becomes an actual cash outflow only in that situation.
- The promoter/promoter group/group companies have no interest in the transaction.
- The borrower, MCFL Energy Projects Private Limited, was incorporated on January 19, 2026 to undertake solar power generation and related activities, including execution of solar PV based power projects pursuant to Letters of Award received from Madhya Pradesh Urja Vikas Nigam Ltd. (MPUVNL) under the PM KUSUM-C Scheme.
Auditor's review conclusion
Deloitte Haskins & Sells reviewed the interim standalone financial results under SRE 2410 issued by ICAI. The report states that nothing came to their attention that causes them to believe the statement, prepared as per Ind AS 34, has not disclosed the information required under Regulation 33 or that it contains any material misstatement. A review is substantially less in scope than an audit and no audit opinion is expressed.
Results snapshot (₹ in lakhs, unless otherwise stated)
- Standalone, quarter ended September 30, 2026: Revenue from operations at 26,240, Total income at 26,838, Profit after tax at 110.
- Standalone, half year ended September 30, 2026: Loss after tax at (2,238).
- Consolidated, quarter ended September 30, 2026: Profit after tax at 117.
- Consolidated, half year ended September 30, 2026: Loss after tax at (2,225).
Bracketed figures are losses.
Other points from the notes
- The Company operates in one reportable business segment, manufacturing and trading of textile garments, and is treated as operating in a single geographical segment.
- The business is of a seasonal nature, so performance in any quarter may not be representative of the annual performance.
- The Company assessed the Labour Codes notified on November 21, 2025 and recognised an increase in gratuity and leave encashment liabilities, with the corresponding incremental charge in employee benefit expenses for the year ended March 31, 2026; based on the rules notified to date it does not expect further material impact on employee benefit obligations.
How to read this
The update combines a routine quarterly results approval with a board approval of a guarantee for a newly incorporated wholly owned subsidiary's solar project, disclosed as a contingent liability. Whether that guarantee ever becomes an actual outflow depends on the subsidiary servicing its loan. The update records the decisions taken; it does not, by itself, change the Company's reported operations.
Also from Monte Carlo Fashions
Monte Carlo Q2 FY27: revenue up 5.5% but PAT down 92.8% as margins compress
3 Nov 2026
Board approves ₹117 crore corporate guarantee for solar subsidiary's term loan
3 Nov 2026
Board approves corporate guarantee of ₹117 crore for subsidiary's 35 MW solar project loan
3 Nov 2026
More numbers
- Standalone Total income, quarter ended September 30, 202626,838
- Standalone Profit after tax, quarter ended September 30, 2026110
- Standalone Loss after tax, half year ended September 30, 2026(2,238)
- Consolidated Loss after tax, half year ended September 30, 2026(2,225)
- Capacity of borrower's proposed solar power project in Madhya Pradesh35 MW
- Total income, latest quarter26,841 (₹ in lakhs)
- Total income, year-ago quarter25,794 (₹ in lakhs)
- Total income, previous quarter15,950 (₹ in lakhs)
- Total comprehensive income, latest quarter118 (₹ in lakhs)
- Total comprehensive income, year-ago quarter1,613 (₹ in lakhs)
- Total comprehensive income, previous quarter(2,342) (₹ in lakhs)
- Profit after tax, latest quarter117 (₹ in lakhs)
- Profit after tax, year-ago quarter1,626 (₹ in lakhs)
- Profit after tax, previous quarter(2,342) (₹ in lakhs)
- Revenue from operations, latest quarter26,240 (₹ in lakhs)
- Revenue from operations, year-ago quarter24,870 (₹ in lakhs)
- Revenue from operations, previous quarter14,904 (₹ in lakhs)
- Profit before tax, latest quarter146 (₹ in lakhs)
- Profit before tax, year-ago quarter2,178 (₹ in lakhs)
- Profit before tax, previous quarter(3,171) (₹ in lakhs)
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.