Devson Catalyst Limited H1 profit rises 13% to Rs 7.50 crore

Devson Catalyst Limited reported unaudited net profit of Rs 7.50 crore for the half year ended September 30, 2026, up 13.1% from Rs 6.63 crore a year earlier, as revenue from operations reached Rs 31.69 crore and total expenses fell Rs 52.35 lakh. Its Board approved the standalone results on November 2, 2026.

How did Devson Catalyst perform in H1 FY 2026-27?

Devson Catalyst increased profit before tax to Rs 9.80 crore in the half year ended September 30, 2026, from Rs 8.90 crore in the half year ended September 30, 2025. Total income reached Rs 32.22 crore, compared with Rs 31.84 crore in the corresponding prior-year period, comprising revenue from operations of Rs 31.69 crore and other income of Rs 53.09 lakh.

The increase in earnings exceeded the movement in sales. Revenue from operations rose by Rs 35.58 lakh from Rs 31.33 crore in the prior-year half, while net profit increased by Rs 87.03 lakh from Rs 6.63 crore. The filing reports no exceptional items or extraordinary items in either half-year period, leaving reported profit before tax at Rs 9.80 crore without adjustment for such items.

The September 2026 result also exceeded the immediately preceding half year ended March 31, 2026, when Devson Catalyst recorded total income of Rs 25.01 crore and net profit of Rs 5.89 crore. The notes describe the March 2026 half-year figures as balancing figures between audited full-year FY 2025-26 results and limited-reviewed results for the half year ended September 30, 2025.

Which costs changed during the half year?

Devson Catalyst reduced total expenses to Rs 22.42 crore in the September 2026 half year from Rs 22.94 crore a year earlier, a decrease of Rs 52.35 lakh. Together with the Rs 37.97 lakh rise in total income, the reduction resulted in a Rs 90.32 lakh increase in profit before tax to Rs 9.80 crore.

Other expenses declined to Rs 3.33 crore from Rs 4.28 crore, a reduction of Rs 95.82 lakh, while finance costs fell to Rs 11.82 lakh from Rs 17.55 lakh. Depreciation and amortisation expense increased to Rs 32.61 lakh from Rs 25.44 lakh, and employee benefit expense rose to Rs 2.17 crore from Rs 2.12 crore.

Cost of materials consumed rose to Rs 16.08 crore for the September 2026 half year from Rs 14.52 crore a year earlier. Purchases of stock-in-trade were Rs 1.94 crore against Rs 1.91 crore, while the reported change in inventories was negative Rs 1.54 crore compared with negative Rs 32.43 lakh in the prior-year period. These changes were offset by lower other expenses and finance costs, leaving total expenses below the prior-year amount.

What tax and per-share earnings did Devson Catalyst report?

Devson Catalyst reported total tax expense of Rs 2.30 crore for the half year ended September 30, 2026, compared with Rs 2.27 crore a year earlier. The charge comprised current tax of Rs 2.23 crore, deferred tax of Rs 10.10 lakh and a negative Rs 2.89 lakh current-tax expense relating to prior years.

Basic earnings per share were Rs 6.44 for the September 2026 half year, compared with Rs 6.47 in the September 2025 half year. Diluted earnings per share were also Rs 6.44. Devson Catalyst states that half-year earnings per share are not annualised and are calculated using the weighted average share capital outstanding during the period.

Paid-up equity share capital stood at Rs 13.59 crore at September 30, 2026, compared with Rs 10.25 crore at March 31, 2026, with a face value of Rs 10 per share. Shareholders' funds increased to Rs 76.09 crore from Rs 33.50 crore, while short-term borrowings declined to Rs 25.40 lakh from Rs 1.61 crore over the same dates.

How much of the IPO proceeds had Devson Catalyst used?

Devson Catalyst had used Rs 9.21 crore of gross fresh-issue proceeds of Rs 39.39 crore by September 30, 2026, leaving Rs 30.18 crore unutilised. Its equity shares were listed on the BSE SME platform on July 16, 2026, following an issue of 35,88,000 equity shares at Rs 118 each, including a fresh issue of 33,38,000 shares and an offer for sale of 2,50,000 shares.

Of the fresh-issue proceeds, Devson Catalyst had used Rs 1.07 crore of Rs 17.40 crore allocated to setting up a new manufacturing unit, leaving Rs 16.33 crore unutilised for that object. It had used Rs 4.14 crore of Rs 12.00 crore allocated to long-term working capital, leaving Rs 7.86 crore. The Rs 5.69 crore earmarked for general corporate purposes remained unutilised at September 30, 2026.

Offer-related expenses were Rs 4.00 crore against a planned Rs 4.34 crore, leaving Rs 30.52 lakh unutilised in that category. Devson Catalyst identifies manufacturing of catalysts as its only reportable segment under Accounting Standard 17, and disclosed no subsidiaries, associates or joint ventures as of September 30, 2026. The statutory auditors issued an unmodified conclusion after their limited review of the unaudited standalone results.

Conclusion

Devson Catalyst delivered higher half-year profit despite a Rs 35.58 lakh increase in revenue from operations, with total expenses declining by Rs 52.35 lakh year on year. Profit before tax rose by Rs 90.32 lakh to Rs 9.80 crore, while net profit increased by Rs 87.03 lakh to Rs 7.50 crore for the period ended September 30, 2026.

The next disclosed matter to watch is deployment of the Rs 30.18 crore of unutilised gross IPO proceeds, particularly Rs 16.33 crore remaining for the planned new manufacturing unit and Rs 7.86 crore for long-term working capital. Subsequent disclosures can show the progress of these stated uses after the July 16, 2026 BSE SME listing.