Aadi Industries Limited posts Rs 4.78 lakh quarterly loss

Aadi Industries Limited reported Rs 15.34 lakh of operating revenue for the quarter ended September 30, 2026, but recorded a Rs 4.78 lakh net loss after other expenditure reached Rs 19.36 lakh. The comparative June 2026 and September 2025 quarterly columns showed no revenue from operations.

What did Aadi Industries report for the September 2026 quarter?

Aadi Industries reported total income of Rs 15.34 lakh and a net loss of Rs 4.78 lakh for the unaudited quarter ended September 30, 2026. Revenue from operations represented all income in the quarter because the results showed no other income, tax expense, exceptional item or extraordinary item.

The September-quarter loss was lower than the Rs 5.68 lakh loss reported for the quarter ended June 30, 2026, but higher than the Rs 2.70 lakh loss in the quarter ended September 30, 2025. Basic and diluted earnings per share were negative Rs 0.05, compared with negative Rs 0.06 in June 2026 and negative Rs 0.03 a year earlier.

The board approved the results on November 13, 2026, following review by the audit committee, according to the filing. Paid-up equity share capital was unchanged at Rs 10 crore, based on shares with a face value of Rs 10 each.

Why did Aadi Industries remain loss-making despite revenue?

Aadi Industries remained loss-making because total expenditure of Rs 20.11 lakh exceeded total income of Rs 15.34 lakh by Rs 4.78 lakh in the September 2026 quarter. Other expenditure was the largest disclosed cost at Rs 19.36 lakh, while employee benefits expense was Rs 0.72 lakh and depreciation and amortisation was Rs 0.04 lakh.

The change from the June 2026 quarter included Rs 15.34 lakh of operating revenue, while total expenditure increased by Rs 14.43 lakh from Rs 5.68 lakh. Other expenditure rose by Rs 17.00 lakh from Rs 2.36 lakh, partly offset by a Rs 2.56 lakh decrease in employee benefits expense from Rs 3.28 lakh.

No cost of materials consumed, purchases of traded goods, inventory-change amount or finance cost was reported for the September 2026 quarter. The reported Rs 20.11 lakh total expenditure therefore consisted of the Rs 19.36 lakh other-expenditure line, Rs 0.72 lakh employee-benefits line and Rs 0.04 lakh depreciation line.

How did Aadi Industries perform in the first half of 2026-27?

Aadi Industries reported Rs 15.34 lakh of revenue from operations and a Rs 10.46 lakh net loss for the half year ended September 30, 2026. The loss widened from Rs 6.90 lakh for the half year ended September 30, 2025, whose comparative column showed no revenue from operations.

Total expenditure reached Rs 25.79 lakh in the latest half year, compared with Rs 6.90 lakh in the prior-year half. Other expenditure increased to Rs 21.72 lakh from Rs 4.48 lakh, employee benefits expense rose to Rs 4.00 lakh from Rs 2.31 lakh, and depreciation and amortisation declined to Rs 0.07 lakh from Rs 0.11 lakh.

Other equity was negative Rs 17.1463 crore at September 30, 2026, compared with negative Rs 17.0418 crore at March 31, 2026. The Rs 10.46 lakh movement matches the reported half-year loss, while total comprehensive income was also a loss of Rs 10.46 lakh because no other comprehensive income was recorded.

What changed in Aadi Industries' balance sheet and cash flow?

Aadi Industries' total assets were Rs 2.4346 crore at September 30, 2026, down from Rs 2.5828 crore at March 31, 2026. Trade receivables fell to Rs 2.1902 crore from Rs 2.4002 crore, while cash and cash equivalents rose to Rs 12.34 lakh from Rs 9.82 lakh and other current assets increased to Rs 11.56 lakh from Rs 7.84 lakh.

Total equity remained negative at Rs 7.1463 crore at September 30, 2026, compared with negative Rs 7.0418 crore at March 31, 2026. Current borrowings increased by Rs 1.85 lakh to Rs 9.5149 crore, while total current liabilities fell by Rs 4.37 lakh to Rs 9.5809 crore.

The reduction in trade receivables contributed Rs 21.00 lakh to cash generated from operations in the six months ended September 30, 2026, producing net operating cash flow of Rs 0.68 lakh despite the Rs 10.46 lakh pre-tax loss. In the year ended March 31, 2026, net operating cash flow was negative Rs 2.4786 crore, when trade receivables increased by Rs 2.3887 crore.

Borrowing proceeds were Rs 1.84 lakh in the six months ended September 30, 2026, compared with Rs 2.5174 crore in the year ended March 31, 2026. Net cash flow for the latest six-month period was Rs 2.52 lakh, taking closing cash and cash equivalents to Rs 12.34 lakh.

What did the auditor conclude on Aadi Industries' results?

Aadi Industries' statutory auditor, RAK CHAMPS & CO LLP, said its limited review did not identify anything that would indicate the unaudited September 30, 2026 results lacked required disclosures or contained a material misstatement. The review report was dated November 13, 2026.

The auditor said it conducted the engagement under Standard on Review Engagements 2410, which addresses the review of interim financial information by an independent auditor. The filing said the results were prepared under Indian Accounting Standards, known as Ind AS, and presented under applicable Securities and Exchange Board of India listing regulations.

The company also stated that the September 2026 quarter was derived as the balancing figure between the unaudited half-year results to September 30, 2026 and the preceding quarter ended June 30, 2026. Previous-period figures were regrouped, rearranged or reclassified where necessary, according to the notes.

Conclusion

Aadi Industries generated Rs 15.34 lakh of operating revenue in the September 2026 quarter, yet Rs 19.36 lakh of other expenditure resulted in a Rs 4.78 lakh loss. For the half year, the loss widened to Rs 10.46 lakh from Rs 6.90 lakh a year earlier, alongside negative total equity of Rs 7.1463 crore and borrowings of Rs 9.5149 crore.

The November 13, 2026 filing does not disclose a revenue target, business plan or scheduled operational event. It also does not explain the nature of the Rs 15.34 lakh revenue or the composition of Rs 21.72 lakh in half-year other expenditure, leaving subsequent company disclosures as the available source for clarification.