Financial Performance Highlights (in ₹ Lakhs)

Income Statement:

  • Revenue from operations: ₹14,520.05 (H1 FY27) vs ₹12,598.46 (H1 FY26) and ₹15,386.04 (Q2 FY27)
  • Other income: ₹77.99 (H1 FY27) vs ₹75.84 (H1 FY26)
  • Total income: ₹14,598.04 (H1 FY27) vs ₹12,674.30 (H1 FY26)
  • Cost of raw materials consumed: ₹8,728.16 (H1 FY27) vs ₹7,590.51 (H1 FY26)
  • Employee benefits expense: ₹766.80 (H1 FY27) vs ₹673.44 (H1 FY26)
  • Finance costs: ₹386.05 (H1 FY27) vs ₹0.00 (H1 FY26)
  • Depreciation and amortization expense: ₹408.90 (H1 FY27) vs ₹0.00 (H1 FY26)
  • Other expenses: ₹3,655.81 (H1 FY27) vs ₹3,306.92 (H1 FY26)
  • Total expenses: ₹14,207.08 (H1 FY27) vs ₹11,655.01 (H1 FY26)
  • Profit before tax: ₹390.96 (H1 FY27) vs ₹1,019.29 (H1 FY26)
  • Tax expense: ₹(10.54) (H1 FY27) vs ₹(115.31) (H1 FY26)
  • Net profit for the period: ₹401.51 (H1 FY27) vs ₹1,134.60 (H1 FY26)

Balance Sheet Position (as at September 30, 2026):

  • Paid-up equity share capital: ₹1,923.74 lakhs (unchanged)
  • Reserves & surplus: ₹9,578.49 vs ₹9,176.98 (March 31, 2026)
  • Long-term borrowings: ₹3,634.75 vs ₹2,109.30 (March 31, 2026)
  • Short-term borrowings: ₹5,429.99 vs ₹5,407.32 (March 31, 2026)
  • Trade payables to MSME: ₹647.06 vs ₹345.63 (March 31, 2026)
  • Trade payables to other creditors: ₹5,602.80 vs ₹6,447.03 (March 31, 2026)
  • Inventories: ₹5,269.44 vs ₹5,346.97 (March 31, 2026)
  • Trade receivables: ₹5,965.33 vs ₹6,314.28 (March 31, 2026)
  • Cash and cash equivalents: ₹9.55 vs ₹11.99 (March 31, 2026)

Earnings Per Share:

  • Basic EPS: ₹2.09 (H1 FY27) vs ₹5.95 (H1 FY26)
  • Diluted EPS: ₹0.00 (H1 FY27) vs ₹5.95 (H1 FY26)

Cash Flow Statement (H1 FY27):

  • Cash flow from operating activities: ₹(229.21) lakhs
  • Cash flow from investing activities: ₹(984.89) lakhs (primarily purchase of fixed assets)
  • Cash flow from financing activities: ₹1,211.67 lakhs (net proceeds from long-term borrowings)
  • Net decrease in cash: ₹(2.44) lakhs

Key Financial Ratios and Metrics

  • Profit margin declined significantly from 8.95% in H1 FY26 to 2.75% in H1 FY27
  • Debt levels increased substantially with long-term borrowings up 72.3% from previous half-year
  • Operating cash flow turned negative at ₹(229.21) lakhs

Accounting Policies and Notes

The financial results are prepared in accordance with Accounting Standards prescribed under section 133 of the Companies Act, 2013. The company is exempt from adopting IND-AS as it is listed on SME Stock Exchange. The company operates in a single segment of manufacture and sale of paper and paper boards.