Dhyaani Tradeventtures Limited profit rises as revenue falls 68%

Dhyaani Tradeventtures Limited reported net profit of Rs 72.92 lakh for the half year ended 30 September 2026, compared with Rs 20.27 lakh a year earlier, although revenue from operations fell 68.4% to Rs 7.0895 crore from Rs 22.4132 crore. The board approved the unaudited standalone results on 5 November 2026.

Why did Dhyaani Tradeventtures’ half-year revenue fall?

Dhyaani Tradeventtures reported revenue from operations of Rs 7.0895 crore for the half year ended 30 September 2026, down by Rs 15.3237 crore from Rs 22.4132 crore in the half year ended 30 September 2025. The reported decline was 68.4%, while revenue for the full financial year ended 31 March 2026 was Rs 27.2173 crore.

Dhyaani Tradeventtures reported total income at Rs 7.0895 crore for the September 2026 half year, the same figure shown for revenue from operations. The prior-year half-year total income was also identical to revenue at Rs 22.4132 crore, so the filing does not show a separately quantified other-income contribution for either half-year period.

How did Dhyaani Tradeventtures increase profit despite lower revenue?

Dhyaani Tradeventtures increased profit before tax to Rs 97.45 lakh for the half year ended 30 September 2026 from Rs 27.09 lakh a year earlier because total expenses fell by Rs 16.0273 crore. That expense reduction exceeded the Rs 15.3237 crore reduction in revenue reported over the same two half-year periods.

Dhyaani Tradeventtures’ net profit after tax rose by Rs 52.65 lakh to Rs 72.92 lakh, while tax expense increased to Rs 24.53 lakh from Rs 6.82 lakh. Basic and diluted earnings per share, which the company said were not annualised, were Rs 0.43 for the September 2026 half year compared with Rs 0.12 in the corresponding 2025 period.

The expense schedule shows employee cost of Rs 7.96 lakh for the latest half year, compared with Rs 9.57 lakh a year earlier. Finance cost declined to Rs 0.90 lakh from Rs 1.20 lakh and depreciation and amortisation fell to Rs 19.28 lakh from Rs 22.39 lakh, but the filing gives no narrative explanation for the overall expense movement.

What changed on Dhyaani Tradeventtures’ balance sheet?

Dhyaani Tradeventtures’ total assets stood at Rs 68.1480 crore at 30 September 2026, down from Rs 74.0677 crore at 31 March 2026. Trade receivables decreased by Rs 3.3927 crore to Rs 59.5809 crore, while other current assets declined by Rs 2.4418 crore to Rs 19.17 lakh.

Dhyaani Tradeventtures’ total equity increased to Rs 35.3611 crore at 30 September 2026 from Rs 34.6318 crore at 31 March 2026. Paid-up equity share capital was unchanged at Rs 17.0240 crore, while other equity rose to Rs 18.3371 crore from Rs 17.6078 crore during the six-month period.

Dhyaani Tradeventtures reported non-current borrowings of Rs 1.2692 crore at both 30 September 2026 and 31 March 2026. Trade payables decreased to Rs 30.4299 crore from Rs 37.3382 crore, while provisions increased to Rs 72.98 lakh from Rs 68.45 lakh and current tax liabilities rose to Rs 24.53 lakh from Rs 2.28 lakh.

What does Dhyaani Tradeventtures’ cash flow show?

Dhyaani Tradeventtures reported net cash used in operating activities of Rs 13,000 for the half year ended 30 September 2026. Closing cash and cash equivalents were Rs 2.93 lakh, compared with Rs 3.07 lakh at the opening of the period and Rs 3.07 lakh at 31 March 2026.

Dhyaani Tradeventtures recorded operating profit before working-capital changes of Rs 98.35 lakh in the September 2026 half year. The cash-flow statement shows a Rs 3.3929 crore decrease in trade and other receivables and a Rs 2.4418 crore decrease in other current assets, offset by a Rs 6.8858 crore decrease in trade and other payables.

Dhyaani Tradeventtures’ cash-flow statement also records a Rs 7.47 lakh decrease in other non-current assets and a Rs 84,000 decrease in other financial liabilities and provisions. The comparison presented in the filing is with the year ended 31 March 2026, when net cash from operating activities was Rs 4.1743 crore, rather than with the corresponding 2025 half year.

What review matters did Dhyaani Tradeventtures’ auditor identify?

Dhyaani Tradeventtures received an unmodified limited-review report dated 5 November 2026 for its standalone results for the half year ended 30 September 2026. The auditor said outstanding trade receivables, trade payables and unsecured loans remained subject to confirmation and supporting documents.

Dhyaani Tradeventtures had trade receivables outstanding for more than six months at 30 September 2026, according to the auditor. The report said the prolonged balances indicated collection delays that may affect liquidity and working capital, although it did not quantify the receivables outstanding beyond six months.

Dhyaani Tradeventtures had not complied with e-way bill and e-invoice requirements and was not regular in timely payment of statutory dues, the auditor stated. The report also cited non-compliance with Section 194Q of the Income Tax Act, 1961, for qualifying goods purchases above Rs 50 lakh from one party, and said pending income-tax dues for the last two years were around Rs 45.50 crore.

Conclusion

Dhyaani Tradeventtures’ September 2026 half-year results show lower revenue alongside higher profit, as the Rs 16.0273 crore reduction in total expenses was greater than the Rs 15.3237 crore decline in revenue. The balance sheet also recorded lower trade receivables and trade payables between 31 March 2026 and 30 September 2026, while operating cash flow was negative by Rs 13,000.

The next disclosures to watch are any action on the auditor’s unresolved matters at 30 September 2026, including confirmation of receivable, payable and unsecured-loan balances, receivables outstanding beyond six months and the around Rs 45.50 crore of pending income-tax dues. Updates on e-way bill, e-invoice, statutory-dues and Section 194Q compliance would also address matters identified in the 5 November 2026 review report.