NINirlon500307Quarterly results

Board approves Q2/H1 FY27 results, earnings presentation and Dividend Distribution Policy modification

Un-audited results for the quarter and half year ended September 30, 2026, with the auditor's limited review report.

By ScoutQuest · Mon 2 Nov 2026, 1:22 PM IST · 3 min read

Q2 Revenue from Operations

Rs. 16,908.16 lakhs vs Rs. 16,530.85 lakhs a year ago

Q2 Profit After Tax

Rs. 7,188.96 lakhs vs Rs. 14,766.40 lakhs; prior year included deferred tax reversal of Rs. 6,950.51 lakhs

Basic EPS

Rs. 7.98 vs Rs. 16.39

What the board approved

• Un-audited financial results for the quarter and half year ended September 30, 2026, along with the limited review report of S R B C & Co LLP, the statutory auditors.
• Earnings presentation for the half year and quarter ended September 30, 2026.
• A suitable modification to the Dividend Distribution Policy.

The auditors' review report states that nothing came to their attention that causes them to believe the statement contains any material misstatement.

How the quarter looked

Nirlon's business is licensing of investment properties, which the company treats as its reportable segment. Revenue from operations for the quarter was Rs. 16,908.16 lakhs, against Rs. 16,530.85 lakhs in the same quarter a year earlier. Total income was Rs. 17,413.38 lakhs against Rs. 16,885.35 lakhs. Total expenses were Rs. 7,803.26 lakhs against Rs. 7,582.16 lakhs. Within this, finance costs were Rs. 2,648.07 lakhs and depreciation and amortisation Rs. 1,394.83 lakhs. Profit before tax was Rs. 9,610.12 lakhs, against Rs. 9,303.19 lakhs a year earlier.

Why profit after tax looks lower

Profit after tax for the quarter was Rs. 7,188.96 lakhs against Rs. 14,766.40 lakhs a year earlier. The comparison is shaped by tax. In the year-earlier quarter the company recorded a remeasurement of deferred tax on account of the new tax regime of Rs. 6,950.51 lakhs, which turned total tax expense into a credit of Rs. 5,463.21 lakhs. In the latest quarter, total tax expense was Rs. 2,421.16 lakhs. Basic and diluted earnings per share were Rs. 7.98 for the quarter, against Rs. 16.39 a year earlier.

Half year at a glance

• Revenue from operations Rs. 33,738.70 lakhs, against Rs. 32,830.45 lakhs.
• Profit before tax Rs. 18,940.75 lakhs, against Rs. 18,318.51 lakhs.
• Profit after tax Rs. 14,126.85 lakhs, against Rs. 20,607.15 lakhs.
• Basic earnings per share Rs. 15.68, against Rs. 22.87.

Balance sheet

Total assets stood at Rs. 2,26,127.20 lakhs as at September 30, 2026, against Rs. 2,24,969.10 lakhs as at March 31, 2026. Total equity was Rs. 47,469.53 lakhs. Non-current borrowings were Rs. 1,08,959.33 lakhs, against Rs. 1,14,666.63 lakhs, and current borrowings Rs. 5,757.51 lakhs against Rs. 23.13 lakhs. Cash and cash equivalents were Rs. 3,095.41 lakhs at the end of September 2026.

Cash flow

Net cash from operating activities for the six months was Rs. 23,773.62 lakhs, against Rs. 19,991.06 lakhs in the same period a year earlier. Cash used in investing activities was Rs. 3,972.54 lakhs, and cash used in financing activities was Rs. 17,701.01 lakhs, which includes dividend paid of Rs. 13,517.71 lakhs and interest and other borrowing costs of Rs. 4,183.30 lakhs.

Dividend

Shareholders had approved a final dividend of Rs. 15 per share for the financial year 2025-26, aggregating Rs. 13,517.71 lakhs, and it was paid on September 21, 2026. The board has now approved a suitable modification to the Dividend Distribution Policy. The policy sets out how the company decides on paying dividends.

What a retail investor can take away

• Operating revenue and profit before tax for the quarter and half year were slightly ahead of the same periods a year earlier.
• The lower reported profit after tax in the quarter is largely explained by the large one-off deferred tax reversal in the year-earlier quarter.
• The company continued to reduce its non-current borrowings and generated more cash from operations in the half year.

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.

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