ACME India posts Rs 9.33 crore H1 loss as income falls

ACME India Industries Limited reported a Rs 9.33 crore standalone loss after tax for the half year ended September 30, 2026, reversing a Rs 20.13 crore profit a year earlier, as total income fell to Rs 65.25 crore from Rs 140.50 crore. The company published these half-year results for the first time.

What did ACME India report in H1 2026?

ACME India reported standalone revenue from operations of Rs 64.06 crore for the half year ended September 30, 2026, down from Rs 137.28 crore in the corresponding half year ended September 30, 2025. Other income rose to Rs 1.19 crore from Rs 32.27 lakh, but it did not offset the decline in operating revenue.

Total standalone income declined by Rs 75.25 crore to Rs 65.25 crore, while total expenses declined by Rs 45.80 crore to Rs 74.58 crore. As income fell by more than expenses, the company reported a pre-tax loss of Rs 9.33 crore and a loss after tax of the same amount, compared with a Rs 20.13 crore profit after tax in the prior-year half.

ACME India’s board approved the unaudited standalone and consolidated results on November 14, 2026, following a recommendation from its audit committee. The results were prepared under Accounting Standard 25, the interim financial reporting standard prescribed under the Companies Act, 2013.

How did ACME India’s costs change in H1 2026?

ACME India’s standalone finance costs rose to Rs 6.21 crore in H1 2026 from Rs 3.07 crore in H1 2025, and employee-benefit expense increased to Rs 4.60 crore from Rs 2.43 crore. These increases occurred while revenue from operations fell by Rs 73.22 crore from the corresponding prior-year period.

Some other operating costs declined. Manpower subcontracting cost fell to Rs 5.96 crore from Rs 7.59 crore, while other expenses decreased to Rs 8.39 crore from Rs 10.02 crore. Depreciation and amortisation expense was Rs 52 lakh, nearly unchanged from Rs 51.96 lakh a year earlier.

ACME India disclosed one reportable business segment on both standalone and consolidated bases: manufacture and supply of railway coach furnishing products and related services. Since it reports a single segment under Accounting Standard 17, the filing does not provide product-level revenue, margin or asset data that would identify the source of the revenue decline.

What were ACME India’s consolidated H1 2026 results?

ACME India reported consolidated total income of Rs 74.68 crore for H1 2026, compared with Rs 244.88 crore in H1 2025. Consolidated expenses were Rs 83.82 crore, down from Rs 224.43 crore, resulting in a Rs 9.38 crore consolidated loss after tax, versus a Rs 19.74 crore profit after tax a year earlier.

The consolidated accounts cover ACME India, three subsidiaries and one jointly controlled partnership firm. The subsidiaries are ACVI Joint Venture Private Limited, Acme & Vibgyor JV Private Limited and Acme and Vibgyor MLR JV Private Limited, while Acme and Vibgyor Rail Furnishing is the jointly controlled partnership entity.

Two subsidiaries reviewed by other auditors recorded combined revenue of Rs 1.51 crore and a combined loss after tax of Rs 4.37 lakh in H1 2026 before consolidation adjustments. The jointly controlled entity, for which the auditor relied on management-provided unaudited financial information, recorded revenue of Rs 1.12 crore and profit after tax of Rs 25,000; the auditor also said one non-operative associate was not included because its information was not material to the group.

Were ACME India’s comparative figures independently reviewed?

ACME India’s September 2026 standalone and consolidated figures were subject to a limited review by Khandelwal Jain & Co., which issued its reports on November 14, 2026. The auditor stated that a limited review consists mainly of inquiries and analytical procedures and is substantially narrower in scope than an audit.

The auditor said the September 2026 half-year results were being published for the first time. Comparative figures for the half year ended September 30, 2025 were compiled by management from underlying books of account and had neither been previously published nor subjected to a limited review or audit.

The figures for the half year ended March 31, 2026 were balancing figures between the audited financial year ended March 31, 2026 and the unaudited September 2025 half-year results, according to the auditor. The auditor’s conclusion on the September 2026 results was not modified in respect of these comparative-period matters.

How did ACME India’s IPO and balance sheet affect the period?

ACME India completed its initial public offering after the September 30, 2026 reporting date and listed its shares on the BSE SME platform on October 9, 2026. The offer raised Rs 121.69 crore at an issue price of Rs 196 per share, comprising a Rs 105.98 crore fresh issue and a Rs 15.71 crore offer for sale.

The fresh issue comprised 54.07 lakh shares, while the offer for sale comprised 8.02 lakh shares. Because the listing occurred after the reporting date, the September 30 standalone balance sheet does not include the post-period equity and cash effects of the Rs 105.98 crore fresh issue.

Standalone total assets were Rs 345.93 crore at September 30, 2026, compared with Rs 376.49 crore at March 31, 2026. Trade receivables declined to Rs 235.09 crore from Rs 263.09 crore and inventories fell to Rs 19.94 crore from Rs 28.54 crore, while standalone shareholders’ funds decreased to Rs 96.67 crore from Rs 106.00 crore over the same six-month period.

Conclusion

ACME India’s first published half-year results show a reversal in standalone profitability, from a Rs 20.13 crore profit in H1 2025 to a Rs 9.33 crore loss in H1 2026. The principal reported change was the Rs 75.25 crore decline in standalone total income, while consolidated accounts also moved to a Rs 9.38 crore loss.

The next reported financial statements should show the balance-sheet effects of the Rs 105.98 crore fresh IPO issue completed after September 30, 2026. Readers can also watch for updated disclosure on revenue, finance costs and receivables in ACME India’s single railway-coach furnishing segment, as the prior-year half-year comparisons were not independently reviewed or audited.