Devine Impex Limited profit falls 66% as September revenue declines

Devine Impex reported profit after tax of Rs 1.02 lakh for the quarter ended September 30, 2026, down from Rs 3.01 lakh a year earlier and Rs 3.93 lakh in the preceding quarter. Revenue from operations declined to Rs 23.03 lakh from Rs 37.31 lakh a year earlier, while first-half revenue was almost unchanged at Rs 49.49 lakh.

What caused Devine Impex’s September-quarter profit to fall?

Devine Impex’s September-quarter profit fell as the decrease in revenue exceeded the reduction in expenses. Revenue from operations declined by Rs 14.28 lakh year on year to Rs 23.03 lakh in the quarter ended September 30, 2026, from Rs 37.31 lakh in the quarter ended September 30, 2025. The company did not report other income in the latest quarter, leaving total income at Rs 23.03 lakh.

Total expenses fell by Rs 11.93 lakh to Rs 21.71 lakh from Rs 33.64 lakh a year earlier. Changes in inventories of stock-in-trade were Rs 17.49 lakh, compared with Rs 20.38 lakh in the prior-year quarter. Employee benefits expense was unchanged at Rs 1.07 lakh, while other expenses decreased to Rs 3.15 lakh from Rs 3.19 lakh.

Profit before tax declined to Rs 1.32 lakh from Rs 3.67 lakh. Tax expense was Rs 0.30 lakh, against Rs 0.66 lakh a year earlier, resulting in profit after tax of Rs 1.02 lakh. Basic and diluted earnings per share were Rs 0.01, compared with Rs 0.03 in the September 2025 quarter.

How did Devine Impex compare with the preceding quarter?

Devine Impex’s profit after tax fell by Rs 2.91 lakh from the June 2026 quarter. Revenue from operations decreased by Rs 3.42 lakh from Rs 26.45 lakh, while total income fell by Rs 5.78 lakh from Rs 28.81 lakh. The June-quarter total included Rs 2.36 lakh of other income, which was absent in the September quarter.

Expenses declined by Rs 6 lakh sequentially, to Rs 21.71 lakh from Rs 27.71 lakh. Purchase of stock-in-trade dropped to nil from Rs 7.83 lakh, while changes in inventories of stock-in-trade increased to Rs 17.49 lakh from Rs 12.25 lakh. Tax expense declined to Rs 0.30 lakh from Rs 1.17 lakh as profit before tax fell from Rs 5.10 lakh to Rs 1.32 lakh.

The filing reported no exceptional items in either the June or September 2026 quarter. Basic and diluted earnings per share declined from Rs 0.04 in the June quarter to Rs 0.01 in the September quarter, alongside the reduction in profit after tax from Rs 3.93 lakh to Rs 1.02 lakh.

How did Devine Impex perform in the first half of 2026-27?

Devine Impex reported first-half revenue from operations of Rs 49.49 lakh for the half year ended September 30, 2026, compared with Rs 49.50 lakh in the corresponding period a year earlier. Total income rose to Rs 51.85 lakh from Rs 49.50 lakh because the latest half year included Rs 2.36 lakh of other income. Both half-year results were presented as unaudited.

Total expenses decreased to Rs 45.42 lakh from Rs 46.95 lakh in the prior-year half year. Changes in inventories of stock-in-trade declined to Rs 29.74 lakh from Rs 30.72 lakh, and purchases of stock-in-trade decreased to Rs 7.83 lakh from Rs 8.23 lakh. Employee benefits expense was unchanged at Rs 2.13 lakh across the two periods.

Profit before tax increased to Rs 6.43 lakh from Rs 2.55 lakh, while tax expense rose to Rs 1.47 lakh from Rs 0.66 lakh. Profit after tax consequently increased to Rs 2.96 lakh from Rs 1.89 lakh, and basic and diluted earnings per share rose to Rs 0.05 from Rs 0.02.

For the year ended March 31, 2026, Devine Impex had reported revenue from operations of Rs 1.7017 crore and profit after tax of Rs 3.10 lakh. The September 2026 half-year profit after tax of Rs 2.96 lakh was therefore close to the profit recorded for the preceding full financial year, although the filing gives no forecast for the remainder of 2026-27.

What do Devine Impex’s balance sheet and cash flow show?

Devine Impex reported total assets of Rs 13.8083 crore as of September 30, 2026, compared with Rs 13.7817 crore at March 31, 2026. Current assets were Rs 12.4896 crore, including inventory of Rs 10.6392 crore and trade receivables of Rs 1.622 crore. Inventory decreased from Rs 10.9367 crore at March 31, while receivables increased from Rs 1.2637 crore.

Total equity was Rs 13.7757 crore at September 30, 2026, compared with Rs 13.7261 crore six months earlier. Other equity increased to Rs 4.1585 crore from Rs 4.1089 crore. Current liabilities fell to Rs 3.26 lakh from Rs 5.56 lakh, including trade payables of Rs 0.16 lakh compared with Rs 0.95 lakh at March 31.

Net cash from operating activities was Rs 1 lakh for the half year ended September 30, 2026, compared with a net operating cash outflow of Rs 0.61 lakh in the corresponding prior-year period. The filing showed no investing or financing cash flows in the latest half year. Cash and cash equivalents were Rs 1.29 lakh at September 30, compared with Rs 0.29 lakh at March 31.

Were Devine Impex’s September results independently reviewed?

Devine Impex’s board approved the unaudited quarter and half-year financial statements on October 31, 2026, following the audit committee’s recommendation. The board meeting started at 12 p.m. and concluded at 1.20 p.m. The statutory auditors carried out a limited review of the results for the quarter and half year ended September 30, 2026.

The auditor said nothing had come to its attention that would indicate the financial statement lacked required disclosures or contained a material misstatement. The review was conducted under Standard on Review Engagements 2410, which the filing says provides moderate assurance and is less extensive than an audit. Accordingly, the auditor did not express an audit opinion.

Devine Impex said it operates in one segment and therefore did not provide separate segment results. It also said previous-period and previous-year figures had been regrouped where necessary for comparability. The available Rs 23.03 lakh September-quarter revenue figure therefore cannot be separated into individual business lines from this filing.

Conclusion

Devine Impex’s September-quarter earnings declined as revenue from operations fell to Rs 23.03 lakh and profit after tax dropped to Rs 1.02 lakh. The half-year result differed from the quarterly trend: revenue was almost flat at Rs 49.49 lakh, while other income of Rs 2.36 lakh and lower expenses contributed to profit after tax of Rs 2.96 lakh.

The filing does not disclose a revenue target, profit target, expansion plan or segment-specific outlook after September 30, 2026. The unresolved issue for subsequent results is whether revenue recovers from the Rs 23.03 lakh quarterly level and how inventory movements, recorded at Rs 17.49 lakh in the September quarter, affect expenses and profitability.