Financial Performance Highlights (Quarter Ended 30.09.2026)

  • Revenue from operations: ₹25,545 lakhs (compared to ₹21,656 lakhs in Q2 FY26)
  • Other income: ₹358 lakhs
  • Total income: ₹25,903 lakhs
  • Total expenses: ₹21,596 lakhs
  • Profit before exceptional item and tax: ₹4,307 lakhs
  • Exceptional item: ₹1,206 lakhs (gain on sale of artwork collection)
  • Profit before tax: ₹5,513 lakhs
  • Tax expense: ₹856 lakhs (Current tax: ₹898 lakhs, Deferred tax credit: ₹42 lakhs)
  • Profit for the quarter: ₹4,657 lakhs
  • Earnings per share (Basic and Diluted): ₹21.56

Financial Performance Highlights (Half Year Ended 30.09.2026)

  • Revenue from operations: ₹46,675 lakhs (compared to ₹39,107 lakhs in H1 FY26)
  • Other income: ₹813 lakhs
  • Total income: ₹47,488 lakhs
  • Total expenses: ₹39,446 lakhs
  • Profit before exceptional item and tax: ₹8,042 lakhs
  • Exceptional item: ₹1,786 lakhs
  • Profit before tax: ₹9,828 lakhs
  • Tax expense: ₹1,084 lakhs (Current tax: ₹1,699 lakhs, Deferred tax credit: ₹615 lakhs)
  • Profit for the half year: ₹8,744 lakhs
  • Earnings per share (Basic and Diluted): ₹40.48

Balance Sheet Position (as at 30.09.2026)

  • Total Assets: ₹76,823 lakhs (compared to ₹59,870 lakhs as at 31.03.2026)
  • Non-current assets: ₹31,418 lakhs
  • Current assets: ₹45,405 lakhs (including inventories of ₹20,407 lakhs)
  • Equity: ₹38,723 lakhs (Share capital: ₹2,160 lakhs, Other equity: ₹36,563 lakhs)
  • Non-current liabilities: ₹9,819 lakhs
  • Current liabilities: ₹28,281 lakhs

Cash Flow Statement (Half Year Ended 30.09.2026)

  • Net cash used in operating activities: ₹(4,688) lakhs
  • Net cash used in investing activities: ₹(1,784) lakhs
  • Net cash from financing activities: ₹6,739 lakhs
  • Net increase in cash and cash equivalents: ₹267 lakhs
  • Closing cash and cash equivalents: ₹1,276 lakhs

Auditor's Review Report

MSKA & Associates LLP issued a qualified review report on the unaudited financial results. The qualification relates to the valuation of stock of finished goods of tea as at September 30, 2026, which was valued at lower of cost and net realizable value, wherein cost considered is based on estimated production and expenditure for the year ending March 31, 2027, instead of actual cost for the quarter/period. This is not in accordance with Indian Accounting Standard 2 "Inventories". The impact of this non-compliance has not been ascertained by management.

Exceptional Items

During the current quarter, the Company sold some collection of artworks as part of its strategic decision to divest non-core assets, resulting in a gain of ₹1,206 lakhs. Additionally, the Company completed the sale of specified assets and assignment of leasehold rights of land of Chalouni Tea Estate (approved on 3rd April 2026) and Leeshriver Tea Estate (approved in FY26).

Strategic Developments

On 30th October 2026, the Company entered into a non-binding memorandum of understanding with a prospective buyer to sell assets and assign leasehold rights of land of Barnesbeg Tea Estate for an aggregate consideration of ₹1,850 lakhs.

Operational Update

During the half year period, the Company's own crop was higher over the corresponding period of the previous year by 31% (excluding the impact of own crop in tea estates sold). Improvement in profitability was driven by higher crop production and better realizations.