Key Financial Figures - Standalone (₹ lakhs)

Quarterly Performance (Q2 FY27 vs Q2 FY26):

  • Revenue from operations: ₹22,805.81 (Q2 FY27) vs ₹5,216.92 (Q2 FY26) - 337% increase
  • Total Income: ₹22,830.40 (Q2 FY27) vs ₹6,209.42 (Q2 FY26)
  • Profit before tax: ₹484.79 (Q2 FY27) vs ₹92.97 (Q2 FY26)
  • Net Profit: ₹404.58 (Q2 FY27) vs ₹105.76 (Q2 FY26)
  • EPS: ₹3.25 (Q2 FY27) vs ₹0.85 (Q2 FY26)

Half-Yearly Performance (H1 FY27 vs H1 FY26):

  • Revenue from operations: ₹40,806.41 (H1 FY27) vs ₹15,888.58 (H1 FY26) - 157% increase
  • Total Income: ₹41,087.48 (H1 FY27) vs ₹17,458.67 (H1 FY26)
  • Profit before tax: ₹1,287.70 (H1 FY27) vs ₹745.91 (H1 FY26)
  • Net Profit: ₹965.71 (H1 FY27) vs not fully comparable
  • EPS: ₹7.76 (H1 FY27) vs ₹4.01 (H1 FY26)

Annual Comparison (FY26 Audited):

  • Revenue from operations: ₹45,067.80 (FY26)
  • Net Profit: ₹1,018.83 (FY26)
  • EPS: ₹8.04 (FY26)

Key Financial Figures - Consolidated (₹ lakhs)

Quarterly Performance (Q2 FY27 vs Q2 FY26):

  • Revenue from operations: ₹23,951.43 (Q2 FY27) vs ₹9,782.32 (Q2 FY26) - 145% increase
  • Net Profit: ₹402.03 (Q2 FY27) vs ₹(1,087.30) loss (Q2 FY26)
  • EPS: ₹3.23 (Q2 FY27) vs ₹(8.74) loss (Q2 FY26)

Half-Yearly Performance (H1 FY27 vs H1 FY26):

  • Revenue from operations: ₹42,658.92 (H1 FY27) vs ₹20,102.90 (H1 FY26) - 112% increase
  • Net Profit: ₹748.05 (H1 FY27) vs ₹(801.42) loss (H1 FY26)
  • EPS: ₹6.01 (H1 FY27) vs ₹(6.44) loss (H1 FY26)

Balance Sheet Highlights (Standalone as of September 30, 2026)

  • Total Assets: ₹64,537.01 lakhs (vs ₹58,488.36 lakhs as of March 31, 2026)
  • Inventories: ₹28,545.38 lakhs (vs ₹25,375.97 lakhs)
  • Trade Receivables: ₹10,841.50 lakhs (vs ₹9,432.59 lakhs)
  • Total Borrowings: ₹41,345.00 lakhs (₹9,009.20 non-current + ₹32,335.79 current)
  • Equity: ₹16,951.28 lakhs

Cash Flow Statement (Standalone H1 FY27)

  • Net cash used in operating activities: ₹(2,796.26) lakhs
  • Net cash used in investing activities: ₹(1,092.08) lakhs
  • Net cash from financing activities: ₹3,925.92 lakhs
  • Net increase in cash: ₹37.58 lakhs

Capital Structure and Corporate Actions

  • Paid-up Equity Share Capital: ₹1,243.81 lakhs (face value ₹10 each)
  • On July 24, 2026, allotted 793,650 Equity Convertible Warrants at ₹315 per warrant to a non-promoter entity
  • Received 25% upfront payment of ₹625 lakhs during the quarter
  • Each warrant convertible into one equity share within 18 months upon payment of balance 75%

Significant Notes and Compliance Matters

Subsidiary Shareholding Issue:

Two subsidiaries (Intellect Buildcon and Prakruti Commosale) hold 6.62% of company shares in contravention of Section 19 of Companies Act, 2013. Shares were allotted pursuant to NCLT order dated November 13, 2024, and further increased via 2:1 bonus issue in FY26. Subsidiaries have commenced disposal with expectation to complete during current year. Based on legal opinion, no financial liability is expected, and no provision has been recognized.

Asset Acquisition Matters:

1. Haldia Manufacturing Unit acquisition from K.S. Oils Limited (in liquidation) pursuant to NCLAT order dated March 20, 2025. Leasehold land transfer process ongoing. ₹5,614.09 lakhs transferred to Right-of-use assets in FY26, with additional ₹4.23 lakhs transfer fees in H1 FY27. No depreciation or lease liability recognized pending registration.

2. Mumbai commercial office (2,062 sq ft) acquired in auction on September 10, 2024, under SARFAESI Act. Possession received but title transfer incomplete due to ongoing litigation affecting peaceful possession. ₹608 lakhs remains as capital advance unadjusted.

Auditor Qualifications:

Consolidated results include 7 foreign entities (2 subsidiaries and 5 step-down subsidiaries) whose financials were not reviewed by their auditors:

  • Hal Exim Pte Limited and its 5 step-down subsidiaries in Africa
  • LLC Halroots (0% equity but assessed under control)
  • These entities contributed ₹61.28 crore revenue and ₹6.65 lakh loss for H1 FY27
  • Auditors note this as a corporate governance matter but do not modify their conclusion

Segment Reporting

Two reportable segments:

1. Rice Segment: Revenue ₹16,154.80 lakhs (H1 FY27), Segment Result ₹(1,050.46) lakhs loss

2. Edible Oil Segment: Revenue ₹33,462.68 lakhs (H1 FY27), Segment Result ₹4,772.10 lakhs profit