Apis India September-quarter profit rises to Rs 8.74 crore

Apis India Limited reported standalone profit after tax of Rs 8.74 crore for the quarter ended September 30, 2026, against Rs 7.14 crore a year earlier, while revenue from operations rose to Rs 113.90 crore from Rs 92.25 crore. The board approved the unaudited standalone results on November 14, 2026.

How much profit did Apis India report in the September quarter?

Apis India reported standalone profit after tax of Rs 8.74 crore in the quarter ended September 30, 2026, compared with Rs 7.14 crore in the quarter ended September 30, 2025. Profit before tax rose to Rs 11.63 crore from Rs 9.46 crore, and the statement did not report exceptional items for either quarter.

The September-quarter profit also exceeded Rs 3.61 crore reported in the quarter ended June 30, 2026. Basic and diluted earnings per share were Rs 0.63, compared with Rs 0.52 in the year-earlier quarter and Rs 0.26 in the immediately preceding quarter; Apis India said earnings per share for all periods were adjusted for the 24-for-one bonus share issue made during financial year 2025-26.

What changed in Apis India’s revenue and income?

Apis India’s revenue from operations increased by Rs 21.65 crore year on year to Rs 113.90 crore in the September 2026 quarter. Total income rose by Rs 17.21 crore to Rs 116.47 crore, although other income declined to Rs 2.56 crore from Rs 7.00 crore in the corresponding quarter of 2025.

Revenue from operations increased from Rs 65.96 crore in the June 2026 quarter, producing a larger sequential movement than the half-year comparison. For the half year ended September 30, 2026, revenue was Rs 179.86 crore against Rs 178.80 crore a year earlier, but total income declined to Rs 183.34 crore from Rs 186.49 crore because other income fell to Rs 3.48 crore from Rs 7.69 crore.

The difference between revenue and total income matters in the half-year comparison because the Rs 1.07 crore revenue increase did not offset the Rs 4.21 crore reduction in other income. Apis India operates in a single operating segment under Indian Accounting Standard 108, or Ind AS 108, so the filing provides no separate revenue or profitability split by business line.

Which expenses affected Apis India’s September-quarter profit?

Apis India’s total expenses rose to Rs 104.84 crore in the September 2026 quarter from Rs 89.79 crore a year earlier. Cost of materials consumed increased to Rs 67.06 crore from Rs 46.79 crore, employee benefits expense rose to Rs 11.94 crore from Rs 9.27 crore, and other expenses increased to Rs 26.93 crore from Rs 20.68 crore.

Finance cost increased to Rs 1.77 crore from Rs 0.99 crore, while depreciation and amortisation rose to Rs 1.26 crore from Rs 1.18 crore. The inventory-change line was negative Rs 7.14 crore in the latest quarter, versus a positive Rs 7.35 crore expense in the year-earlier quarter, and this reported movement coincided with profit before tax rising by Rs 2.17 crore.

For the half year, total expenses decreased to Rs 167.21 crore from Rs 171.33 crore despite materials consumed increasing to Rs 109.12 crore from Rs 101.83 crore and employee benefits expense rising to Rs 21.83 crore from Rs 17.89 crore. The half-year inventory-change line was negative Rs 17.18 crore, against a positive Rs 3.62 crore in the prior-year period, while other expenses rose to Rs 43.45 crore from Rs 38.16 crore.

How did Apis India perform in the first half of the year?

Apis India reported profit after tax of Rs 12.35 crore for the half year ended September 30, 2026, compared with Rs 11.15 crore in the corresponding 2025 half year. Profit before tax increased to Rs 16.13 crore from Rs 15.16 crore, a narrower increase than in the September quarter because the June 2026 quarter recorded profit after tax of Rs 3.61 crore.

Tax expense for the latest half year was Rs 3.78 crore, compared with Rs 4.01 crore a year earlier. Current tax was Rs 4.33 crore, while deferred tax was negative Rs 0.40 crore and tax relating to an earlier year was negative Rs 0.16 crore; in the September quarter alone, total tax expense was Rs 2.89 crore against Rs 2.32 crore a year earlier.

The company’s audited full-year standalone profit after tax was Rs 24.26 crore for the year ended March 31, 2026, and full-year revenue from operations was Rs 374.92 crore. The half-year September 2026 revenue of Rs 179.86 crore was therefore below the full-year figure, while the filing only presents the current half year and comparative half year as unaudited interim periods.

What did Apis India disclose about cash flow and borrowings?

Apis India reported net cash used in operating activities of Rs 5.27 crore for the half year ended September 30, 2026, compared with net cash generated from operations of Rs 27.96 crore a year earlier. Trade receivables increased by Rs 21.46 crore during the latest half year, compared with an increase of Rs 1.30 crore in the prior-year period, while trade payables decreased by Rs 12.54 crore.

Cash and cash equivalents rose to Rs 3.16 crore at September 30, 2026 from Rs 0.34 crore at March 31, 2026. Investing activities used Rs 6.24 crore, compared with Rs 2.26 crore a year earlier, including Rs 6.17 crore for acquisition of property, plant and equipment and related adjustments.

Net cash from financing activities was Rs 14.33 crore, compared with an outflow of Rs 25.30 crore in the corresponding half year of 2025. Apis India reported net short-term borrowings of Rs 9.35 crore, Rs 10.07 crore of long-term borrowing proceeds and Rs 1.08 crore of long-term borrowing repayments during the latest half year.

Standalone borrowings totalled Rs 79.28 crore at September 30, 2026, comprising Rs 67.52 crore of current borrowings and Rs 11.77 crore of non-current borrowings. This compared with total borrowings of Rs 60.95 crore at March 31, 2026, while standalone trade receivables rose to Rs 142.77 crore from Rs 130.72 crore over the same period.

Conclusion

Apis India’s September-quarter results show higher standalone revenue and profit, with revenue from operations increasing by Rs 21.65 crore year on year and profit after tax increasing by Rs 1.60 crore. The half-year result was more restrained: profit after tax increased by Rs 1.20 crore, while total income fell by Rs 3.15 crore as lower other income outweighed the revenue increase.

The disclosed matters to watch in later reporting periods are the Rs 142.77 crore trade-receivables balance, the Rs 79.28 crore borrowing balance and operating cash flow, which was an outflow of Rs 5.27 crore in the half year to September 30, 2026. Apis India’s September results were approved on November 14, 2026, with no further financial target or reporting date stated in the filing.