Avro India Q2 revenue reaches Rs 29.52 crore, profit Rs 1.36 crore

Avro India Limited reported consolidated revenue from operations of Rs 29.52 crore for the quarter ended September 30, 2026, up from Rs 20.90 crore a year earlier, while profit after tax was Rs 1.36 crore versus Rs 1.20 crore. Plastic waste recycling generated Rs 12.14 crore in gross segment revenue during the quarter.

What were Avro India’s Q2 consolidated results?

Avro India reported revenue from operations of Rs 29.52 crore in the September 2026 quarter, an increase of Rs 8.62 crore from Rs 20.90 crore in the September 2025 quarter. Total income, including other income, rose to Rs 30.36 crore from Rs 22.82 crore, and quarterly revenue also exceeded Rs 25.34 crore recorded in the June 2026 quarter.

Profit before tax was Rs 1.77 crore in the quarter ended September 30, 2026, compared with Rs 1.45 crore a year earlier and Rs 0.76 crore in the preceding quarter. After current tax of Rs 0.25 crore and deferred tax, Avro India recorded profit after tax of Rs 1.36 crore. Basic earnings per share were Rs 0.10, against Rs 0.05 in both the June 2026 and September 2025 quarters.

How did Avro India’s first-half performance compare year on year?

Avro India generated Rs 54.86 crore in revenue from operations for the half year ended September 30, 2026, compared with Rs 42.57 crore in the corresponding 2025 period. Profit after tax was Rs 2.05 crore, marginally below Rs 2.06 crore a year earlier, despite the Rs 12.29 crore increase in six-month revenue.

Profit before tax for the half year declined to Rs 2.53 crore from Rs 2.88 crore in the prior-year period. The reported segment mix changed, with plastic waste recycling contributing Rs 16.75 crore of gross segment revenue in the 2026 half year, while the segment had no revenue in the corresponding six months of 2025. Plastic moulded furniture and granules generated Rs 45.34 crore, up from Rs 42.67 crore.

The segment statement reported operating income of Rs 6.49 crore for the half year, compared with Rs 2.05 crore a year earlier. It also recorded Rs 3.96 crore of allocable expense for plastic waste recycling before consolidated profit before tax, showing that gross segment revenue and segment operating results do not directly equal consolidated profitability.

What did the recycling business contribute in Q2?

Avro India’s plastic waste recycling segment reported gross revenue of Rs 12.14 crore in the September 2026 quarter, following Rs 4.61 crore in the June 2026 quarter. The segment had no reported revenue in the September 2025 quarter, while plastic moulded furniture and granules reported Rs 21.84 crore of gross revenue in the latest quarter.

The recycling figure is not equivalent to external consolidated revenue because the segment disclosure separately lists Rs 8.31 crore of recycling inter-segment revenue in Q2. The furniture and granules segment also had inter-segment revenue eliminations of Rs 0.05 crore. Consolidated revenue from operations, after the reported eliminations, was Rs 29.52 crore for the quarter.

The recycling segment recorded an operating loss of Rs 0.13 crore in Q2, improving from a loss of Rs 0.20 crore in Q1. In contrast, furniture and granules reported operating income of Rs 6.21 crore in Q2, up from Rs 1.10 crore in Q1 and Rs 1.26 crore a year earlier.

What do Avro India’s assets, liabilities and cash flow show?

Avro India reported consolidated total assets of Rs 127.46 crore at September 30, 2026, compared with Rs 124.26 crore a year earlier and Rs 121.05 crore at March 31, 2026. The recycling segment accounted for Rs 50.76 crore of segment assets, against Rs 38.95 crore a year earlier, while furniture and granules accounted for Rs 76.74 crore.

Total equity was Rs 92.59 crore at September 30, 2026, up from Rs 87.28 crore a year earlier. Total liabilities were Rs 34.91 crore, down from Rs 36.99 crore at September 30, 2025. Current borrowings were Rs 13.39 crore, compared with Rs 16.18 crore a year earlier, while non-current borrowings were Rs 5.39 crore versus Rs 6.22 crore.

Net cash used in operating activities was Rs 9.28 crore for the half year ended September 30, 2026, compared with an outflow of Rs 5.14 crore in the corresponding prior-year period. The cash-flow statement included Rs 7.83 crore spent on property, plant and equipment, including capital work-in-progress and capital advances, and Rs 17.45 crore invested in bank deposits with original maturity exceeding three months.

Cash and cash equivalents stood at Rs 1.12 crore at September 30, 2026, compared with Rs 3.86 crore a year earlier and Rs 2.09 crore at March 31, 2026. Net cash from investing activities was Rs 6.93 crore in the half year, compared with net cash used of Rs 26.03 crore a year earlier, while financing activities generated Rs 1.39 crore.

How were Avro India’s results reviewed and what changed in its share capital?

Avro India’s board approved the consolidated results on November 14, 2026, after review by its Audit Committee. The statutory auditors carried out a limited review of the consolidated results for the quarter and half year ended September 30, 2026. The group comprised Avro India and its wholly owned subsidiary, Avro Recycling Limited, at September 30, 2026.

Avro India subdivided each equity share from a face value of Rs 10 to Rs 1, with May 5, 2026 as the record date. The company stated that the effect was incorporated retrospectively in basic and diluted earnings per share for all presented periods under Indian Accounting Standard 33, Earnings Per Share.

During the period, Rs 2.85 crore of upfront subscription money from lapsed warrants was transferred to capital reserve under other equity. This included Rs 1.35 crore related to non-promoter warrants and Rs 1.50 crore related to promoter-group warrants. The company stated that the warrant conversion and lapse were considered in its earnings-per-share calculation for the quarter and half year.

Conclusion

Avro India’s September-quarter results show higher consolidated revenue and profit after tax than a year earlier, with revenue rising to Rs 29.52 crore and profit after tax reaching Rs 1.36 crore. The result mix also changed as plastic waste recycling reported Rs 12.14 crore of gross quarterly revenue, while furniture and granules remained the larger operating-income contributor at Rs 6.21 crore.

What to watch next is the unresolved operating loss in recycling, which was Rs 0.13 crore in Q2 after a Rs 0.20 crore loss in Q1, alongside the half-year operating cash outflow of Rs 9.28 crore. The disclosed Rs 7.83 crore of first-half spending on property, plant and equipment and Rs 17.45 crore placed in longer-term bank deposits are further reported uses of cash.