De Nora India posts Rs 2.60 crore September-quarter loss

De Nora India Limited reported a Rs 2.60 crore loss for the quarter ended September 30, 2026, reversing a Rs 3.87 crore profit a year earlier, as total expenses reached Rs 25.20 crore while revenue from operations was Rs 21.36 crore. The company reported a Rs 3.47 crore loss before tax, against a Rs 5.21 crore profit in the comparable quarter.

Why did De Nora India report a September-quarter loss?

De Nora India reported a September-quarter loss because expenses of Rs 25.20 crore exceeded total income of Rs 21.73 crore, resulting in a Rs 3.47 crore loss before tax. In the quarter ended September 30, 2025, total income was Rs 23.54 crore and expenses were Rs 18.34 crore, producing a Rs 5.21 crore profit before tax.

Revenue from operations declined by Rs 48.47 lakh year on year, to Rs 21.36 crore from Rs 21.84 crore. Other income fell to Rs 36.92 lakh from Rs 1.70 crore, taking the total-income reduction to Rs 1.81 crore, while total expenses increased by Rs 6.86 crore. That combination moved the company from profit to loss in the September 2026 quarter.

Which costs increased at De Nora India in the September quarter?

De Nora India’s materials-consumed expense rose to Rs 14.36 crore in the September 2026 quarter from Rs 10.90 crore a year earlier. Changes in inventories of finished goods, work in progress and stock in trade were an expense of Rs 3.24 crore, compared with a Rs 2.87 crore credit in the September 2025 quarter, creating a Rs 6.11 crore adverse swing.

Employee-benefits expense increased to Rs 1.77 crore from Rs 1.47 crore, depreciation and amortisation rose to Rs 54.18 lakh from Rs 51.76 lakh, and other expenses increased to Rs 5.30 crore from Rs 4.05 crore. The September 2026 results table did not report warranty expense, whereas warranty expense was Rs 4.27 crore in the year-earlier quarter.

The sequential comparison also shows a lower revenue base in the September quarter. Revenue from operations was Rs 35.27 crore in the quarter ended June 30, 2026, while total expenses were Rs 28.15 crore and profit before tax was Rs 8.60 crore; by September 30, revenue had fallen to Rs 21.36 crore and the pre-tax result was a Rs 3.47 crore loss.

What were De Nora India’s first-half results?

De Nora India remained profitable for the half year ended September 30, 2026, reporting profit after tax of Rs 3.79 crore, down from Rs 7.12 crore in the half year ended September 30, 2025. Revenue from operations fell to Rs 56.63 crore from Rs 63.81 crore, while profit before tax declined to Rs 5.13 crore from Rs 9.55 crore.

First-half total income declined by Rs 9.39 crore to Rs 58.47 crore, while total expenses fell by Rs 4.97 crore to Rs 53.35 crore. Materials consumed increased to Rs 31.65 crore from Rs 25.81 crore and employee-benefits expense rose to Rs 3.64 crore from Rs 3.20 crore, partly offset by other expenses declining to Rs 11.68 crore from Rs 14.76 crore.

Basic and diluted earnings per share were negative Rs 4.90 for the September 2026 quarter, compared with positive Rs 7.29 a year earlier. For the half year, earnings per share were Rs 7.14, compared with Rs 13.41 in the corresponding half year, and the unaudited results were approved by the board on November 3, 2026 after review by the audit committee.

How did De Nora India’s balance sheet and cash flow change?

De Nora India’s total assets increased to Rs 173.88 crore at September 30, 2026 from Rs 159.80 crore at March 31, 2026. Inventories rose to Rs 73.51 crore from Rs 30.84 crore and trade receivables rose to Rs 22.00 crore from Rs 11.75 crore, while current investments fell to Rs 14.68 crore from Rs 56.69 crore.

Cash and cash equivalents declined to Rs 10.86 crore at September 30 from Rs 16.96 crore at March 31. Total equity rose to Rs 131.05 crore from Rs 129.34 crore, while current liabilities increased to Rs 42.42 crore from Rs 30.06 crore over the same period.

Net cash used in operating activities was Rs 48.36 crore for the half year ended September 30, 2026. The cash-flow statement records a Rs 42.35 crore increase in inventories and a Rs 10.48 crore increase in trade receivables, partly offset by a Rs 15.59 crore increase in trade payables; investing activities generated Rs 42.56 crore, principally from Rs 43.23 crore of investment proceeds.

What dividend and reporting disclosures did De Nora India make?

De Nora India’s shareholders approved a final dividend of Rs 4 per equity share of face value Rs 10 for the financial year ended March 31, 2026. The approval was granted at the annual general meeting on September 23, 2026, and the total dividend of Rs 2.12 crore was recognised as a liability, net of tax deducted at source, with a corresponding reduction in other equity.

The filing says De Nora India operates in a single segment under Indian Accounting Standard 108, Operating Segments, and therefore does not disclose segment information. It also reports a fair-value gain on investments measured at fair value through profit or loss of Rs 28.77 lakh in the September 2026 quarter, compared with Rs 1.07 crore a year earlier.

Conclusion

De Nora India’s September-quarter loss reflects a Rs 6.86 crore rise in expenses alongside a Rs 1.81 crore decline in total income. Higher materials consumption and the movement in inventory costs outweighed the modest change in operating revenue, while first-half profit after tax fell to Rs 3.79 crore from Rs 7.12 crore.

The next disclosed matters to watch are whether the Rs 73.51 crore inventory and Rs 22.00 crore receivables balances translate into cash generation after the Rs 48.36 crore first-half operating outflow. The filing provides no earnings target or outlook, while the Rs 2.12 crore final dividend approved on September 23, 2026 remained recognised as a liability at September 30, 2026.