Board Meeting Details

The Board of Directors meeting was held on Friday, October 9, 2026, commencing at 03:30 PM and concluding at 03:50 PM. The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, and took note of the Limited Review Report issued by the statutory auditors, M/s. S N Dhawan & CO LLP.

Consolidated Financial Performance (Q2 FY2026)

  • Revenue from operations: ₹1,329.00 million (Q2 FY2025: ₹1,015.36 million)
  • Other income: ₹182.62 million (Q2 FY2025: ₹39.91 million)
  • Total income: ₹1,511.62 million (Q2 FY2025: ₹1,055.27 million)
  • Total expenses: ₹1,415.52 million (Q2 FY2025: ₹1,170.16 million)
  • Profit before tax and exceptional items: ₹96.10 million (Q2 FY2025: loss of ₹114.89 million)
  • Exceptional item: Gain of ₹494.89 million (related to lease modification of vessels)
  • Profit before tax: ₹590.99 million (Q2 FY2025: loss of ₹114.89 million)
  • Tax expense: ₹6.03 million
  • Profit for the period: ₹584.96 million (Q2 FY2025: loss of ₹89.34 million)
  • Other comprehensive income: Loss of ₹11.22 million
  • Total comprehensive income: ₹573.74 million (Q2 FY2025: loss of ₹120.62 million)
  • Earnings per share (basic and diluted): ₹0.85 (Q2 FY2025: loss of ₹0.14)

Consolidated Financial Performance (HY FY2026)

  • Revenue from operations: ₹3,230.12 million (HY FY2025: ₹2,778.51 million)
  • Other income: ₹197.65 million (HY FY2025: ₹50.21 million)
  • Total income: ₹3,427.77 million (HY FY2025: ₹2,828.72 million)
  • Total expenses: ₹3,001.16 million (HY FY2025: ₹2,469.35 million)
  • Profit before tax and exceptional items: ₹426.61 million
  • Exceptional item: Gain of ₹494.89 million (HY FY2025: ₹359.37 million)
  • Profit before tax: ₹921.50 million (HY FY2025: ₹359.37 million)
  • Tax expense: ₹108.81 million
  • Profit for the period: ₹812.69 million (HY FY2025: ₹258.34 million)
  • Other comprehensive income: Gain of ₹2.03 million
  • Total comprehensive income: ₹814.72 million (HY FY2025: ₹245.82 million)
  • Earnings per share (basic and diluted): ₹1.20 (HY FY2025: ₹0.40)

Standalone Financial Performance (Q2 FY2026)

  • Revenue from operations: ₹1,329.00 million
  • Other income: ₹166.60 million
  • Total income: ₹1,495.60 million
  • Total expenses: ₹1,425.32 million
  • Profit before tax: ₹70.28 million
  • Tax expense: ₹5.92 million
  • Profit for the period: ₹64.35 million
  • Other comprehensive income: Gain of ₹0.02 million
  • Total comprehensive income: ₹64.33 million
  • Earnings per share (basic and diluted): ₹0.09

Standalone Financial Performance (HY FY2026)

  • Revenue from operations: ₹3,230.12 million
  • Other income: ₹189.57 million
  • Total income: ₹3,419.69 million
  • Total expenses: ₹2,973.05 million
  • Profit before tax: ₹446.64 million
  • Tax expense: ₹108.81 million
  • Profit for the period: ₹337.83 million
  • Other comprehensive income: Loss of ₹0.59 million
  • Total comprehensive income: ₹337.24 million
  • Earnings per share (basic and diluted): ₹0.51

Capital Structure Changes

Paid-up equity share capital increased from ₹651.54 million (face value Re. 1 per share) to ₹723.95 million during the period, representing the issuance of 72,395,000 equity shares.

Significant Events and Transactions

  • The group received compensation of USD 5.2 million (approximately ₹437.42 million) from Norwegian Sky for lease modification of vessels "SKY" and "SUN"
  • The group has advanced lease rental payments outside India for a vessel which is repayable over 5 years
  • Equity shares issued during the period were allotted for cash consideration at par value

Balance Sheet Position (Consolidated as of September 30, 2026)

  • Total assets: ₹13,484.33 million (March 31, 2026: ₹3,417.79 million)
  • Total equity: ₹7,273.37 million (March 31, 2026: ₹802.04 million)
  • Total liabilities: ₹6,210.96 million (March 31, 2026: ₹2,615.75 million)
  • Cash and cash equivalents: ₹70.03 million (March 31, 2026: ₹54.27 million)

Auditor Review

M/s. S N Dhawan & CO LLP issued an unqualified limited review report for both standalone and consolidated financial results, stating that nothing has come to their attention that causes them to believe that the statements contain any material misstatement.