Baba Food reports Rs 5.16 crore consolidated loss in H1

Baba Food Processing (India) Limited reported a consolidated loss of Rs 5.16 crore for the half year ended September 30, 2026, reversing a Rs 1.31 crore profit a year earlier, while revenue from operations increased 0.8% to Rs 101.50 crore. Standalone profit fell to Rs 2.18 lakh from Rs 1.32 crore.

How did Baba Food's consolidated results change in H1?

Baba Food moved to a consolidated loss of Rs 5.16 crore in the half year ended September 30, 2026, from a Rs 1.31 crore profit in the corresponding half year ended September 30, 2025. The loss also widened from Rs 2.74 crore in the half year ended March 31, 2026, according to the unaudited consolidated statement approved by the board on November 13, 2026.

Revenue from operations was Rs 101.50 crore, up Rs 0.81 crore from Rs 100.69 crore a year earlier, but down Rs 2.85 crore from Rs 104.35 crore in the preceding half year. Total revenue, including other income, was Rs 101.51 crore, compared with Rs 100.72 crore in September 2025 and Rs 105.49 crore in March 2026.

What drove Baba Food's consolidated loss despite stable sales?

Baba Food's total expenses exceeded total revenue by Rs 3.90 crore in the September 2026 half year, resulting in a pre-tax loss of the same amount. In the September 2025 half year, expenses were Rs 98.03 crore against total revenue of Rs 100.72 crore, producing a pre-tax profit of Rs 1.69 crore.

The consolidated statement recorded deferred-tax expense of Rs 1.26 crore in the latest half year, taking the reported loss from Rs 3.90 crore before tax to Rs 5.16 crore after tax. Basic earnings per share were negative Rs 3.45, compared with positive Rs 0.80 in September 2025 and negative Rs 1.68 in the March 2026 half year; Baba Food said half-year earnings per share are not annualised.

Baba Food reported that all activities revolve around its main business and therefore did not disclose separate business or geographical segments. The filing consequently does not identify a product line, customer category or geography behind the shift from Rs 1.69 crore pre-tax profit in September 2025 to a Rs 3.90 crore pre-tax loss in September 2026.

Why was Baba Food's standalone profit only Rs 2.18 lakh?

Baba Food reported standalone profit of Rs 2.18 lakh for the half year ended September 30, 2026, down from Rs 1.32 crore a year earlier and Rs 1.75 crore in the half year ended March 31, 2026. Standalone profit before tax fell to Rs 6.24 lakh from Rs 1.70 crore in September 2025 and Rs 2.40 crore in March 2026.

Standalone revenue from operations was Rs 101.49 crore, marginally above Rs 100.89 crore in the September 2025 half year but below Rs 104.35 crore in the March 2026 half year. Other income was Rs 1.33 crore, taking total standalone revenue to Rs 102.82 crore, while total expenses were Rs 102.76 crore.

The difference between the Rs 2.18 lakh standalone profit and the Rs 5.16 crore consolidated loss reflects inclusion of Panchakanya Foods Private Limited in the group accounts. Panchakanya Foods is Baba Food's 100% subsidiary and was incorporated on April 5, 2023, but the filing does not provide its separate profit and loss statement or quantify its contribution to the consolidated result.

What changed in Baba Food's balance sheet and cash flow?

Baba Food's consolidated total assets increased to Rs 172.00 crore at September 30, 2026, from Rs 147.79 crore at March 31, 2026. Inventories rose to Rs 32.27 crore from Rs 13.18 crore, while trade receivables increased to Rs 13.00 crore from Rs 9.89 crore.

Long-term loans increased to Rs 62.37 crore from Rs 54.67 crore, and short-term loans rose to Rs 23.50 crore from Rs 18.68 crore over the same period. Trade payables due to creditors other than micro and small enterprises were Rs 23.21 crore at September 30, compared with Rs 7.04 crore at March 31.

The consolidated cash-flow statement reported net cash used in operating activities of Rs 7.84 crore and net cash used in investing activities of Rs 3.84 crore for the half year ended September 30, 2026. Financing activities generated Rs 11.67 crore, including Rs 7.70 crore of long-term borrowing proceeds and Rs 4.82 crore from short-term loans, leaving cash and cash equivalents at Rs 13.15 lakh, down from Rs 25.16 lakh.

What does the limited review say about Baba Food's results?

Baba Food's unaudited standalone and consolidated statements were reviewed by Sumit Mohit & Company, which said nothing had come to its attention to suggest the results were not prepared and disclosed in accordance with applicable requirements. The reviewer issued reports dated November 13, 2026, under the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations.

The reviewer said its work was performed under Standard on Review Engagements 2410, involving inquiries and analytical procedures intended to provide moderate assurance. It stated that it had not performed an audit and therefore did not express an audit opinion on the September 30, 2026 results.

Baba Food prepared the statements under Accounting Standards specified under Section 133 of the Companies Act, 2013. Its notes say companies listed on the SME exchange are exempt from compulsory adoption of Indian Accounting Standards, while the March 2026 half-year figures are balancing figures derived from audited full-year results and published September 2025 year-to-date results.

Conclusion

Baba Food's September 2026 half-year filing shows that a Rs 0.81 crore year-on-year increase in consolidated revenue from operations did not prevent a reversal from Rs 1.31 crore profit to a Rs 5.16 crore loss. At the parent-company level, revenue remained close to the prior-year level, but standalone profit fell to Rs 2.18 lakh as expenses absorbed almost all total revenue.

The next reported results will show whether consolidated inventory of Rs 32.27 crore, receivables of Rs 13.00 crore and long-term loans of Rs 62.37 crore reverse or persist after September 30, 2026. The filing provides no management target or recovery plan and does not disclose Panchakanya Foods' separate financial performance, leaving the composition of the consolidated loss unresolved.