Ampvolts first-half revenue rises to Rs 30.74 crore year-on-year

Ampvolts Limited reported revenue from operations of Rs 30.74 crore for the half year ended September 30, 2026, compared with Rs 2.47 crore a year earlier, while profit after tax was Rs 2.25 crore against a Rs 10.99 lakh loss. The board approved the unaudited standalone results on November 6, 2026.

How did Ampvolts revenue change in the first half?

Ampvolts increased revenue from operations to Rs 30.74 crore in the half year ended September 30, 2026, from Rs 2.47 crore in the corresponding half year ended September 30, 2025. Total income, including other income, rose to Rs 31.21 crore from Rs 3.44 crore. Other income declined to Rs 46.73 lakh from Rs 96.19 lakh, so the increase in total income reflected the larger rise in operating revenue.

The quarter ended September 30, 2026 contributed Rs 17.74 crore of revenue from operations, compared with Rs 13.01 crore in the quarter ended June 30, 2026 and Rs 14.53 lakh in the quarter ended September 30, 2025. September-quarter revenue was therefore Rs 4.73 crore above the preceding quarter, based on the reported figures.

The financial statement presents a single revenue from operations line and does not disclose revenue by product, service, customer category or operating segment. The filing therefore supports the overall increase from Rs 2.47 crore to Rs 30.74 crore, but does not quantify the contribution from individual offerings.

Did Ampvolts return to first-half profit?

Ampvolts returned to first-half profit, reporting profit before tax of Rs 2.52 crore and profit after tax of Rs 2.25 crore for the six months ended September 30, 2026. In the comparable 2025 period, it reported a pre-tax loss of Rs 17.62 lakh and a post-tax loss of Rs 10.99 lakh. Total comprehensive income was Rs 2.25 crore, compared with negative Rs 10.99 lakh a year earlier.

The September 2026 quarter produced profit after tax of Rs 1.15 crore, compared with Rs 1.10 crore in the June 2026 quarter and Rs 21.07 lakh in the September 2025 quarter. Pre-tax profit was Rs 1.32 crore in the September quarter, versus Rs 1.20 crore in June, while the prior-year September quarter recorded a pre-tax loss of Rs 11.52 lakh.

Basic and diluted earnings per share were Rs 0.88 for the half year ended September 30, 2026, against a loss per share of Rs 0.04 in the previous first half. Ampvolts stated that earnings per share for the quarter and half year were not annualised. The first-half tax expense included a deferred tax charge of Rs 28.48 lakh, against a deferred tax credit of Rs 6.63 lakh a year earlier, with no current tax charge in either period.

What do Ampvolts expenses and cash flow show?

Ampvolts reported total expenses of Rs 28.69 crore for the half year ended September 30, 2026, compared with Rs 3.61 crore in the year-earlier half. Purchase cost was Rs 12.69 crore versus Rs 9.08 crore, direct expenses were Rs 8.26 crore versus Rs 1.04 crore, and finance costs rose to Rs 3.10 crore from Rs 72.33 lakh.

Depreciation and amortisation expense increased to Rs 2.91 crore from Rs 48.39 lakh, while employee benefit expense rose to Rs 87.74 lakh from Rs 63.25 lakh. Changes in inventory were negative Rs 72.82 lakh, compared with negative Rs 9.03 crore in the prior-year half. The reported revenue increase was accompanied by higher direct expenses, finance costs and depreciation.

Ampvolts used Rs 13.84 crore in operating activities during the six months ended September 30, 2026. Operating cash flow before working-capital changes was Rs 7.90 crore, but increases in other current and non-current assets of Rs 15.97 crore, trade receivables of Rs 6.31 crore and inventory of Rs 1.41 crore resulted in negative cash generated from operations of Rs 13.78 crore before tax payments.

Investing activities reported a net cash flow of Rs 16.08 crore in the first half, including Rs 15.44 crore from investment or redemption of bank fixed deposits and Rs 1.46 crore in proceeds from property, plant and equipment disposals. Capital expenditure on property, plant and equipment and capital work in progress was Rs 1.26 crore. Cash and cash equivalents were Rs 78,000 at September 30, 2026, compared with Rs 16.54 lakh at March 31, 2026.

How did Ampvolts balance sheet change by September?

Ampvolts reported total assets of Rs 116.55 crore at September 30, 2026, up from Rs 104.72 crore at March 31, 2026. Current assets rose to Rs 67.75 crore from Rs 59.50 crore, led by trade receivables of Rs 26.16 crore versus Rs 19.85 crore and other current assets of Rs 27.88 crore versus Rs 16.14 crore. Inventories increased to Rs 7.85 crore from Rs 6.44 crore.

Non-current assets rose to Rs 48.80 crore from Rs 45.22 crore. Property, plant and equipment declined to Rs 23.60 crore from Rs 25.73 crore, while right-of-use assets increased to Rs 12.55 crore from Rs 3.12 crore. Total equity was Rs 52.62 crore at September 30, including other equity of Rs 26.91 crore, compared with total equity of Rs 50.77 crore and other equity of Rs 25.06 crore at March 31.

Non-current borrowings rose to Rs 34.59 crore from Rs 23.32 crore, while current borrowings declined to Rs 12.89 crore from Rs 26.04 crore. Current lease liabilities increased to Rs 11.96 crore from Rs 46.11 lakh, and non-current lease liabilities fell to Rs 1.02 crore from Rs 2.67 crore. The statutory auditor's limited review stated that nothing had come to its attention indicating a material misstatement, while noting that it had not performed an audit.

Conclusion

Ampvolts' first-half statement shows revenue from operations increasing to Rs 30.74 crore and profit after tax reaching Rs 2.25 crore, reversing the Rs 10.99 lakh loss reported in the comparable prior-year period. The September 2026 quarter also exceeded the June 2026 quarter in both revenue and profit, although the filing does not identify product or service-level sources of growth.

The next disclosure to watch is whether increases in receivables to Rs 26.16 crore and other current assets to Rs 27.88 crore convert into operating cash flow after the Rs 13.84 crore first-half outflow. Ampvolts did not disclose a revenue target, business forecast or date for its next financial-results announcement in this filing.