Board approves Q2 and H1 results; auditor review conclusion unmodified
Board approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026.
By ScoutQuest · · 2 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 5,763.83 | 4,120.18 | +39.9% | 5,343.38 | +7.9% |
| Total income | 5,786.72 | 4,127.15 | +40.2% | 5,400.21 | +7.2% |
| Profit before tax | 1,169.22 | 717.05 | +63.1% | 1,103.72 | +5.9% |
| Profit after tax | 904.26 | 538.52 | +67.9% | 847.81 | +6.7% |
| Total comprehensive income | 870.65 | 470.77 | +84.9% | 800.49 | +8.8% |
| Basic EPS | 5.47 | 3.49 | +56.7% | 5.13 | +6.6% |
- Total Income Growth YoY
- +40.2% (Year ago 4,127.15)
- Profit After Tax Growth YoY
- 904.26 (+67.9%) vs 538.52
- Period
- Quarter ended September 30, 2026 (Unaudited)
Auditor's review
Conclusion: Unmodified
Notes to the results
- Board on July 20, 2026 approved Scheme of Amalgamation of Kia Health Tech Private Limited with the Company under fast-track route (Sec 233); not yet effective, no accounting effect given.
- Net IPO proceeds of ₹4,712.74 million: ₹4,066.79 million utilised up to September 30, 2026, ₹645.95 million unutilised; utilisation timeline extended to March 31, 2027.
- Arinna Lifesciences Limited became a subsidiary with effect from April 30, 2026 and is included in consolidated results.
Board outcome
The board of Rubicon Research Ltd met on November 5, 2026 and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. The limited review reports issued by the statutory auditors, Deloitte Haskins & Sells LLP, were also placed before the board.
Auditor's review conclusion
- The conclusion is unmodified: nothing came to the auditors' attention that causes them to believe the statements are non-compliant with the disclosure requirements or contain a material misstatement.
- A limited review relies on enquiries and analytical procedures; it is much narrower than a full audit and no audit opinion is expressed.
- For a set of subsidiaries, the auditors relied on the reports of other auditors and on figures certified by management, and stated that their conclusion is not modified on that account.
Numbers in the results
- Standalone, quarter: Revenue from operations ₹ 3,835.72 million and Profit after tax ₹ 606.20 million, both higher than the same quarter a year earlier.
- Consolidated, quarter: Revenue from operations ₹ 5,763.83 million and Profit after tax ₹ 904.26 million, also higher than a year earlier.
- Consolidated, half year: Revenue from operations ₹ 11,107.21 million and Profit after tax ₹ 1,752.07 million.
- The company reports a single business segment, described as "Sale of Pharmaceuticals products", so there are no separate segment results to read.
Other decisions and notes
- Options for up to 68,982 equity shares of face value ₹ 1 each were granted on November 4, 2026 under the Rubicon Research Limited Stock Option Plan 2026. Options turn into shares only when exercised, which can mean a slightly larger share count later.
- Of the IPO proceeds, ₹ 645.95 million was unutilised as at September 30, 2026, and the timeline for using the unutilised amount has been extended to March 31, 2027.
- The scheme of amalgamation of Kia Health Tech Private Limited with the company has been shared with the Registrar of Companies and is yet to become effective; no accounting effect has been given to it in these results.
How to read this
These are quarterly and half-yearly numbers, reviewed but not audited, so they are an interim picture rather than a full-year one. The review is a check that the numbers are properly presented, not an audit certificate. The items sitting alongside the results — fresh option grants, IPO money still to be deployed and a merger awaiting effectiveness — are the moving parts worth tracking in the coming quarters.
Also from Rubicon Research
Committee approves grant of up to 68,982 stock options at Rs. 1,374.40 each
5 Nov 2026
USFDA issues Form 483 with 5 procedural observations after Ambernath plant inspection
30 Oct 2026
Earnings conference call scheduled for November 5 to discuss Q2 and H1 FY27 performance
28 Oct 2026
More numbers
- Standalone Revenue from operations, quarter ended Sep 30, 2026₹ 3,835.72 million
- Standalone Profit after tax, quarter ended Sep 30, 2026₹ 606.20 million
- Consolidated Revenue from operations, half year ended Sep 30, 2026₹ 11,107.21 million
- Consolidated Profit after tax, half year ended Sep 30, 2026₹ 1,752.07 million
- Unutilised IPO proceeds as at September 30, 2026₹ 645.95 million
- Equity shares covered by options granted on Nov 4, 202668,982 equity shares
- Total income, latest quarter5,786.72 (₹ in millions)
- Total income, year-ago quarter4,127.15 (₹ in millions)
- Total income, previous quarter5,400.21 (₹ in millions)
- Total comprehensive income, latest quarter870.65 (₹ in millions)
- Total comprehensive income, year-ago quarter470.77 (₹ in millions)
- Total comprehensive income, previous quarter800.49 (₹ in millions)
- Profit after tax, latest quarter904.26 (₹ in millions)
- Profit after tax, year-ago quarter538.52 (₹ in millions)
- Profit after tax, previous quarter847.81 (₹ in millions)
- Revenue from operations, latest quarter5,763.83 (₹ in millions)
- Revenue from operations, year-ago quarter4,120.18 (₹ in millions)
- Revenue from operations, previous quarter5,343.38 (₹ in millions)
- Profit before tax, latest quarter1,169.22 (₹ in millions)
- Profit before tax, year-ago quarter717.05 (₹ in millions)
- Profit before tax, previous quarter1,103.72 (₹ in millions)
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