Macfos Limited Q2 Revenue Up 44% YoY to ₹9,872 Lakhs

Board Meeting Details

• Meeting Date: October 28, 2026
• Meeting Time: 3:30 PM to 4:00 PM (IST)
• Location: Pune

Board Agenda Items Approved

1. Approved the unaudited Standalone and Consolidated Financial Results for the Quarter and Half-Year ended September 30, 2026, along with the Auditor's limited review report.

2. Read and confirmed the minutes of the previous Board meeting held on August 11, 2026.

3. Considered outstanding statutory liabilities pending for more than 3 months regarding:

• TDS
• TCS
• GST
• Employee share of PF & ESIC
• Employer's share of PF & ESIC
• Professional Tax

4. Took note of half-year-ended listing compliances for the period ended September 30, 2026.

5. Took note of MSME vendors and cases of non-payment of invoices within 45 days (which could attract tax disallowances).

6. Received update on unsettled litigation as of quarter-end and discussed cases involving amounts over ₹1 lakh.

7. Constituted the risk management committee.

8. Identified investor grievances received during the quarter, resolved, and pending as of quarter-end.

9. Took note of any delays in compliance with periodic statutory returns:

• GSTR 3B, GSTR1, GSTR9 and GSTR9C
• TDS/TCS Quarterly Return
• PF/ESIC/PT Return

Financial Results - Standalone (Quarter Ended September 30, 2026)

Income Statement

• Revenue from operations: ₹9,872.52 lakhs (Q2 FY2025: ₹6,848.07 lakhs)
• Other income: ₹78.41 lakhs (Q2 FY2025: ₹78.75 lakhs)
• Total income: ₹9,950.93 lakhs (Q2 FY2025: ₹6,926.82 lakhs)
• Cost of material consumed: ₹32.68 lakhs
• Purchase of stock-in-trade: ₹9,311.34 lakhs
• Changes in inventory: (₹1,845.69) lakhs
• Employee benefits expenses: ₹430.82 lakhs
• Finance cost: ₹149.62 lakhs
• Depreciation and amortization: ₹91.42 lakhs
• Other expenses: ₹790.67 lakhs
• Total expenses: ₹8,960.86 lakhs
• Profit before tax: ₹990.07 lakhs (Q2 FY2025: ₹678.42 lakhs)
• Tax expense: ₹253.76 lakhs
• Current tax: ₹259.57 lakhs
• Deferred tax: (₹5.98) lakhs
• Short/(excess) income tax of earlier years: ₹0.16 lakhs
• Net profit: ₹736.31 lakhs (Q2 FY2025: ₹507.69 lakhs)

Key Metrics

• Earnings per share (basic and diluted): ₹7.11 (Q2 FY2025: ₹4.90)
• Paid-up share capital: ₹1,035.85 lakhs (10,358,503 shares of ₹10 each)

Financial Results - Standalone (Half-Year Ended September 30, 2026)

• Revenue from operations: ₹18,006.38 lakhs (H1 FY2025: ₹12,774.87 lakhs)
• Other income: ₹190.46 lakhs
• Total income: ₹18,196.84 lakhs
• Total expenses: ₹16,414.64 lakhs
• Profit before tax: ₹1,782.20 lakhs (H1 FY2025: ₹1,349.69 lakhs)
• Tax expense: ₹463.93 lakhs
• Net profit: ₹1,318.27 lakhs (H1 FY2025: ₹1,004.46 lakhs)
• Earnings per share: ₹12.73 (H1 FY2025: ₹9.70)

Balance Sheet - Standalone (As of September 30, 2026)

Assets

• Total assets: ₹20,258.29 lakhs (March 31, 2026: ₹15,836.86 lakhs)
• Non-current assets: ₹3,527.52 lakhs
• Property, plant and equipment: ₹1,198.49 lakhs
• Capital work-in-progress: ₹23.58 lakhs
• Right-of-use assets: ₹541.22 lakhs
• Other intangible assets: ₹35.20 lakhs
• Financial assets: ₹1,542.76 lakhs (investments, trade receivables, loans, other financial assets)
• Deferred tax assets: ₹86.28 lakhs
• Other non-current assets: ₹100.00 lakhs
• Current assets: ₹16,730.76 lakhs
• Inventories: ₹11,594.20 lakhs
• Financial assets: ₹1,724.79 lakhs (investments, trade receivables, loans, other financial assets)
• Other current assets: ₹3,411.77 lakhs

Liabilities and Equity

• Equity: ₹10,830.48 lakhs
• Equity share capital: ₹1,035.85 lakhs
• Other equity: ₹9,794.63 lakhs
• Non-current liabilities: ₹571.73 lakhs
• Financial liabilities: ₹476.26 lakhs (borrowings, lease liabilities, trade payables)
• Other financial liabilities: ₹93.12 lakhs
• Provisions: ₹2.35 lakhs
• Current liabilities: ₹8,856.07 lakhs
• Financial liabilities: ₹8,574.61 lakhs (borrowings, lease liabilities, trade payables)
• Other current liabilities: ₹174.92 lakhs
• Provisions: ₹88.28 lakhs
• Current tax liabilities: ₹17.80 lakhs

Cash Flow - Standalone (Half-Year Ended September 30, 2026)

• Cash flow from operating activities: (₹2,184.71) lakhs
• Cash flow from investing activities: (₹290.09) lakhs
• Cash flow from financing activities: ₹2,425.29 lakhs
• Net decrease in cash: (₹49.51) lakhs
• Effect of exchange rate: ₹16.15 lakhs
• Cash and cash equivalents at end: ₹151.12 lakhs (March 31, 2026: ₹184.48 lakhs)

Consolidated Financial Results

Quarter Ended September 30, 2026

• Revenue from operations: ₹9,872.52 lakhs
• Other income: ₹78.42 lakhs
• Total income: ₹9,950.93 lakhs
• Total expenses: ₹8,961.77 lakhs
• Profit before tax: ₹989.16 lakhs
• Tax expense: ₹253.73 lakhs
• Net profit: ₹735.44 lakhs
• Earnings per share: ₹7.10

Half-Year Ended September 30, 2026

• Revenue from operations: ₹18,006.52 lakhs
• Other income: ₹190.46 lakhs
• Total income: ₹18,196.98 lakhs
• Total expenses: ₹16,416.41 lakhs
• Profit before tax: ₹1,780.57 lakhs
• Tax expense: ₹463.97 lakhs
• Net profit: ₹1,316.60 lakhs
• Earnings per share: ₹12.71

Audit and Review Details

• Auditor: Kishor Gujar & Associates, Chartered Accountants
• Review conducted under SRE 2410
• Limited review report issued with no modifications
• Financial results prepared in accordance with Ind AS adopted from April 1, 2026
• Comparative figures restated from IGAAP to Ind AS
• Subsidiaries included in consolidation:
• Nuo Zhan Technologies Limited (assets: ₹1.01 lakhs, revenue: nil)
• Macfos Electronics Private Limited (assets: ₹11.40 lakhs, revenue: ₹1.16 lakhs for half-year)
• Auditor did not review interim financial results of Nuo Zhan Technologies Limited

Additional Information

• Company transitioned to Ind AS from April 1, 2026, with transition date of April 1, 2025
• Bonus issue: 941,682 bonus equity shares issued on March 11, 2026, in ratio of 1:10
• EPS calculations adjusted for bonus issue
• No separate segment reporting as company engaged in single business
• No investor complaints during the quarter
• Reconciliation provided for Ind AS transition impacts on comprehensive income and equity