Board approves unaudited Q2 and H1 results; auditors give unmodified limited review conclusion
Board meeting on November 3, 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 | 13742.29 | 8739.83 | +57.2% | 10497.83 | +30.9% |
| Total income | 14,120.35 | 8,767.35 | +61.1% | 10,522.34 | +34.2% |
| Profit before tax | 702.07 | 229.51 | +206% | 217.19 | +223% |
| Profit after tax | 1214.28 | 1010.83 | +20.1% | 965.22 | +25.8% |
| Total comprehensive income | 1,244.43 | 1,058.23 | +17.6% | 1,060.15 | +17.4% |
| Basic EPS | 13.49 | 11.23 | +20.1% | 10.72 | +25.8% |
- PAT growth YoY / QoQ
- +20.1% YoY; +25.8% QoQ
- Period
- 30.09.2026 Unaudited
Auditor's review
Conclusion: Unmodified
Notes to the results
- Consolidated statement includes exceptional items of 41.65 (Rs. In Lacs) for quarter ended 30.09.2026 and 57.35 for quarter ended 30.06.2026; 99.00 for half year.
- Share of Profit of Associates (Shri Bajrang Power and Ispat Limited) of 719.33 (Rs. In Lacs) for quarter ended 30.09.2026.
Board meeting outcome
The Board of Directors met on November 3, 2026 from 04:00 P.M. to 04:25 P.M. and considered and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, along with the Limited Review Report of the statutory auditors. The results were reviewed by the Audit Committee and taken on record by the Board. Standalone and consolidated results both cover the same periods.
Auditor's conclusion
- The statutory auditor, S S S D & Co, Chartered Accountants, carried out a limited review, which is narrower in scope than a full audit, so no audit opinion is expressed.
- Its conclusion: nothing came to its attention that causes it to believe the statements fail to disclose what is required or contain any material misstatement.
- No qualification is attached to this conclusion.
Standalone results (figures in Rs. lakh as printed)
- Revenue from operations: 13,742.29 for the quarter, against 8,739.83 in the same quarter a year earlier; 24,240.11 for the half year, against 17,673.48.
- Total income: 14,120.35 for the quarter, against 8,982.84; 24,804.81 for the half year, against 18,074.25.
- Total expenses: 13,459.92 for the quarter, against 8,537.83.
- Profit before tax: 702.07 for the quarter, against 445.01; 1,081.38 for the half year.
- Exceptional items: (41.65) in the quarter.
- Net Profit for the period: 494.94 for the quarter, against 380.44; 826.27 for the half year, against 629.58.
- Earnings per share (after exceptional items): 5.50 for the quarter, against 4.23; 9.18 for the half year.
Consolidated results (figures in Rs. lakh as printed)
- Revenue from operations: 13,742.29 for the quarter; 24,240.11 for the half year.
- Net Profit for the period: 494.95 for the quarter, before adding the share of profit of associates of 719.33; after that share, 1,214.28.
- Total Comprehensive Income for the period: 1,244.43 for the quarter.
- Earnings per share (after exceptional items): 13.49 for the quarter, against 11.23 a year earlier.
What the consolidated profit includes
The gap between the standalone net profit of 494.94 and the consolidated figure of 1,214.28 comes from the share of profit of associates of 719.33. The statement names the associate as Shri Bajrang Power and Ispat Limited.
Segment view (standalone)
- Domestic revenue was 13,184.79 in the quarter; export revenue was 557.50.
- A year earlier, domestic was 8,327.82 and export was 412.00.
Balance sheet snapshot (standalone, September 30, 2026 against March 31, 2026, in Rs. lakh):
- Total assets: 29,562.26 against 24,442.23.
- Inventories: 11,060.71 against 9,263.81.
- Trade receivables: 6,086.50 against 2,043.84.
- Current borrowings: 11,114.25 against 8,902.19.
- Non-current borrowings: 1,500.00 in both periods.
Cash flow (half year, in Rs. lakh)
- Net cash from operating activities: (3,051.19), against 2,444.57 in the same period a year earlier.
- Investing activities line: 929.06, against (758.11) a year earlier.
- Financing activities line: 2,122.57, against (1,688.19) a year earlier.
- Cash and cash equivalents at the end of the period: 7.82.
Points a reader may weigh
- A limited review gives less assurance than a full audit; the auditors state this explicitly.
- The consolidated profit line is larger than the standalone line mainly because of the associate's profit share.
- Revenue from operations is the same in standalone and consolidated statements, while the balance sheet is given on a standalone basis.
Also from Shri Bajrang Alliance
Board meeting on 3 November 2026 to consider and approve unaudited standalone and consolidated results
27 Oct 2026
More numbers
- Standalone Net Profit for the period, Q2 FY27 (Rs. in lakh)494.94
- Standalone Net Profit for the period, same quarter a year earlier (Rs. in lakh)380.44
- Standalone Net Profit for the period, half year FY27 (Rs. in lakh)826.27
- Standalone export segment revenue, Q2 FY27 (Rs. in lakh)557.50
- Standalone Earnings per share after exceptional items, Q2 FY275.50
- Total income, latest quarter14,120.35 (Rs. In Lacs)
- Total income, year-ago quarter8,767.35 (Rs. In Lacs)
- Total income, previous quarter10,522.34 (Rs. In Lacs)
- Total comprehensive income, latest quarter1,244.43 (Rs. In Lacs)
- Total comprehensive income, year-ago quarter1,058.23 (Rs. In Lacs)
- Total comprehensive income, previous quarter1,060.15 (Rs. In Lacs)
- Profit after tax, latest quarter1214.28 (Rs. In Lacs)
- Profit after tax, year-ago quarter1010.83 (Rs. In Lacs)
- Profit after tax, previous quarter965.22 (Rs. In Lacs)
- Revenue from operations, latest quarter13742.29 (Rs. In Lacs)
- Revenue from operations, year-ago quarter8739.83 (Rs. In Lacs)
- Revenue from operations, previous quarter10497.83 (Rs. In Lacs)
- Profit before tax, latest quarter702.07 (Rs. In Lacs)
- Profit before tax, year-ago quarter229.51 (Rs. In Lacs)
- Profit before tax, previous quarter217.19 (Rs. In Lacs)
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