Date: 12th November, 2026

Board Meeting Outcomes

The Board of Directors meeting held on 12th November, 2026 (commenced at 17:30 hours and concluded at 20:55 hours) approved the following:

  • Unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter and half year ended 30th September, 2026

Financial Results (Standalone)

Quarterly Performance (Q2 FY27 vs Q2 FY26):

  • Revenue from Operations: ₹420.92 crore (up from ₹328.54 crore YoY)
  • Total Income: ₹421.59 crore (up from ₹329.10 crore YoY)
  • Profit Before Tax: ₹33.06 crore (up from ₹21.69 crore YoY)
  • Profit After Tax: ₹23.75 crore (up from ₹15.36 crore YoY)
  • Basic EPS: ₹17.71 (up from ₹11.73 YoY)
  • Diluted EPS: ₹17.71 (up from ₹11.67 YoY)

Half Yearly Performance (H1 FY27 vs H1 FY26):

  • Revenue from Operations: ₹726.92 crore (up from ₹573.25 crore YoY)
  • Total Income: ₹729.46 crore (up from ₹574.57 crore YoY)
  • Profit Before Tax: ₹53.53 crore (up from ₹35.21 crore YoY)
  • Profit After Tax: ₹39.08 crore (up from ₹25.51 crore YoY)
  • Basic EPS: ₹29.14 (up from ₹19.55 YoY)
  • Diluted EPS: ₹29.14 (up from ₹19.42 YoY)

Standalone Balance Sheet (as of 30.09.2026):

  • Total Assets: ₹1,396.87 crore (up from ₹1,233.61 crore as of 31.03.2026)
  • Equity Share Capital: ₹13.41 crore
  • Other Equity: ₹468.72 crore (up from ₹429.75 crore)
  • Total Equity: ₹482.13 crore (up from ₹443.16 crore)
  • Non-Current Liabilities: ₹142.69 crore (up from ₹110.81 crore)
  • Current Liabilities: ₹772.06 crore (up from ₹679.64 crore)

Standalone Cash Flows (H1 FY27):

  • Cash from Operating Activities: ₹3.31 crore
  • Cash from Investing Activities: (₹22.74) crore
  • Cash from Financing Activities: ₹44.81 crore
  • Net Increase in Cash: ₹25.37 crore
  • Cash and Cash Equivalents: ₹28.72 crore (up from ₹3.35 crore)

Financial Results (Consolidated)

Quarterly Performance (Q2 FY27 vs Q2 FY26):

  • Revenue from Operations: ₹506.94 crore (up from ₹399.40 crore YoY)
  • Total Income: ₹507.52 crore (up from ₹399.66 crore YoY)
  • Profit Before Tax: ₹31.51 crore (up from ₹16.16 crore YoY)
  • Profit After Tax: ₹22.30 crore (up from ₹9.94 crore YoY)
  • Basic EPS: ₹16.59 (up from ₹7.61 YoY)
  • Diluted EPS: ₹16.59 (up from ₹7.56 YoY)

Half Yearly Performance (H1 FY27 vs H1 FY26):

  • Revenue from Operations: ₹879.74 crore (up from ₹679.36 crore YoY)
  • Total Income: ₹882.20 crore (up from ₹680.52 crore YoY)
  • Profit Before Tax: ₹54.55 crore (up from ₹24.82 crore YoY)
  • Profit After Tax: ₹40.07 crore (up from ₹15.52 crore YoY)
  • Basic EPS: ₹29.80 (up from ₹11.89 YoY)
  • Diluted EPS: ₹29.80 (up from ₹11.81 YoY)

Consolidated Balance Sheet (as of 30.09.2026):

  • Total Assets: ₹1,519.76 crore (up from ₹1,358.52 crore as of 31.03.2026)
  • Equity Share Capital: ₹13.41 crore
  • Other Equity: ₹515.40 crore (up from ₹473.90 crore)
  • Total Equity: ₹528.81 crore (up from ₹487.31 crore)
  • Non-Current Liabilities: ₹145.84 crore (up from ₹114.31 crore)
  • Current Liabilities: ₹845.11 crore (up from ₹756.90 crore)

Consolidated Cash Flows (H1 FY27):

  • Cash from Operating Activities: ₹28.42 crore
  • Cash from Investing Activities: (₹25.17) crore
  • Cash from Financing Activities: ₹43.04 crore
  • Net Increase in Cash: ₹46.29 crore
  • Cash and Cash Equivalents: ₹78.27 crore (up from ₹31.99 crore)

Standalone Financials:

  • Auditor: A S Poddar & Associates (Firm Reg. No. 014969N)
  • Review Type: Limited Review
  • Opinion: Unmodified - Nothing has come to attention that causes belief that the statement contains material misstatement
  • Basis: Prepared in accordance with Ind AS 34 and Regulation 33 of SEBI Listing Regulations

Consolidated Financials:

  • Auditor: A S Poddar & Associates (Firm Reg. No. 014969N)
  • Review Type: Limited Review with reliance on other auditors for 8 subsidiaries and 2 associates
  • Opinion: Unmodified - Nothing has come to attention that causes belief that the statement contains material misstatement
  • Subsidiaries not reviewed represent: Total assets of ₹307.58 crore, revenues of ₹159.85 crore (Q2) and ₹276.70 crore (H1), net profit of ₹1.48 crore (Q2) and ₹2.67 crore (H1)
  • Associates not reviewed represent: Net loss of ₹2.93 crore (Q2) and ₹1.69 crore (H1)

Operational Highlights

Business Segment:

  • The Company operates in a single business segment - Fashion Apparels and Accessories including Intermediaries as per Ind AS 108

Scheme of Arrangement:

  • During the period, pursuant to the Scheme of Arrangement between Bhartiya Urban Private Limited (BUPL), an associate company, and its wholly owned subsidiaries, the resulting company issued equity shares and redeemable preference shares to Bhartiya International Limited in proportion to its shareholding in BUPL

Fashion Business Performance (Consolidated):

Q2 FY27 vs Q2 FY26:

  • Revenue: ₹506.9 crore (up from ₹399.4 crore)
  • Raw Material Consumption: 60.3% of revenue (61.4% in Q2 FY26)
  • Employee Cost: 5.4% of revenue (4.6% in Q2 FY26)
  • Other Expenses: 24.3% of revenue (23.9% in Q2 FY26)
  • EBITDA: ₹51.4 crore (10.1% margin, same as Q2 FY26)
  • Profit After Tax: ₹25.2 crore (5.0% margin, up from 3.7%)

H1 FY27 vs H1 FY26:

  • Revenue: ₹879.7 crore (up from ₹679.4 crore)
  • Raw Material Consumption: 58.4% of revenue (59.8% in H1 FY26)
  • Employee Cost: 5.9% of revenue (5.6% in H1 FY26)
  • Other Expenses: 25.9% of revenue (24.7% in H1 FY26)
  • EBITDA: ₹89.3 crore (10.1% margin, same as H1 FY26)
  • Profit After Tax: ₹41.8 crore (4.7% margin, up from 3.2%)

Notes to Financial Results

1. Results reviewed by Audit Committee and approved by Board on 12th November, 2026

2. Prepared in accordance with Indian Accounting Standards (Ind AS)

3. Figures for previous periods regrouped/reclassified/restated where necessary

4. Financial Results available on Company's website (www.bhartiya.com) and stock exchange websites