Felix Industries H1 revenue rises 58% to Rs 59.88 crore

Felix Industries Limited reported unaudited consolidated revenue from operations of Rs 59.88 crore for the half year ended September 30, 2026, up 58% from Rs 38.00 crore a year earlier, while profit attributable to shareholders rose 45% to Rs 12.27 crore. Oman customer revenue increased to Rs 21.06 crore from Rs 7.88 crore.

How did Felix Industries perform in H1 2026?

Felix Industries increased revenue from operations by Rs 21.88 crore year on year in the half year ended September 30, 2026. Total revenue, including other income, rose to Rs 62.18 crore from Rs 39.35 crore, while total expenses increased to Rs 43.42 crore from Rs 27.04 crore. Profit before exceptional and extraordinary items and tax rose to Rs 18.76 crore from Rs 12.31 crore.

Profit after tax before minority interest was Rs 12.84 crore in H1 2026, against Rs 8.90 crore in H1 2025. After the minority-interest share, profit attributable to shareholders was Rs 12.27 crore, compared with Rs 8.48 crore. Basic earnings per share, or EPS, were Rs 7.46 for the six months, compared with Rs 6.34 a year earlier, on equity shares with a face value of Rs 10 each.

The September 2026 quarter contributed Rs 31.66 crore of revenue from operations, compared with Rs 17.38 crore in the quarter ended September 30, 2025. Total revenue for the quarter was Rs 33.21 crore against Rs 18.33 crore, while profit attributable to shareholders was Rs 6.59 crore compared with Rs 4.78 crore. Sequentially, September-quarter revenue from operations exceeded the Rs 28.22 crore reported in the June 2026 quarter.

Which geography drove Felix Industries' revenue growth?

Oman was the larger contributor to the H1 revenue increase, with revenue from customers rising to Rs 21.06 crore from Rs 7.88 crore in H1 2025. The Rs 13.17 crore increase represented about three-fifths of the Rs 21.88 crore rise in consolidated revenue from operations. Oman customer revenue in the September quarter was Rs 13.41 crore, compared with Rs 1.25 crore in the comparable quarter a year earlier.

India remained the larger geographical segment by H1 customer revenue, reporting Rs 38.83 crore for the six months ended September 30, 2026, up from Rs 30.12 crore a year earlier. The Rs 8.71 crore increase means both reported geographies expanded, although Oman grew faster from a lower base. Felix Industries identifies India and Oman as reportable geographical segments because their economic, political, asset-location, currency and customer conditions differ.

India non-current assets were Rs 56.03 crore at September 30, 2026, compared with Rs 37.41 crore at September 30, 2025. Oman non-current assets were Rs 55.31 crore, slightly below Rs 55.73 crore a year earlier. The revenue expansion therefore was accompanied by differing non-current asset movements across the two geographical segments.

What changed in Felix Industries' costs and profit?

Felix Industries' expenses rose by Rs 16.38 crore in H1 2026, less than the Rs 22.83 crore increase in total revenue. Purchases of stock in trade and project materials increased to Rs 20.19 crore from Rs 14.25 crore, employee-benefit expense rose to Rs 9.95 crore from Rs 7.53 crore, and other expenses grew to Rs 11.94 crore from Rs 7.74 crore. Finance cost was Rs 2.39 crore, compared with Rs 1.54 crore in the earlier half.

Inventory changes reduced expenses by Rs 3.48 crore in H1 2026, compared with a Rs 4.81 crore reduction in H1 2025. Depreciation and amortisation rose to Rs 1.80 crore from Rs 78.94 lakh. These movements coincided with profit before tax increasing by Rs 6.45 crore to Rs 18.75 crore, while the share of loss from associates narrowed to Rs 77,000 from Rs 1.04 lakh.

Other income was Rs 2.30 crore for H1 2026, up from Rs 1.35 crore a year earlier. Interest income in the cash-flow statement was Rs 1.68 crore, while finance costs were Rs 2.39 crore for the six months. Felix Industries does not provide a product-level revenue or profit split, stating that its activities do not materially differ in risk perception and expected returns for operating-segment reporting.

What do Felix Industries' balance sheet and cash flows show?

Felix Industries' total assets were Rs 278.43 crore at September 30, 2026, compared with Rs 245.46 crore at March 31, 2026. Trade receivables increased to Rs 47.79 crore from Rs 34.04 crore, inventories rose to Rs 25.71 crore from Rs 19.75 crore, and short-term loans and advances increased to Rs 80.58 crore from Rs 59.42 crore. Cash and cash equivalents declined to Rs 9.54 crore from Rs 9.82 crore over the same period.

Shareholders' funds rose to Rs 165.60 crore at September 30 from Rs 151.74 crore at March 31, with reserves and surplus increasing to Rs 148.39 crore from Rs 134.54 crore. Long-term borrowings were Rs 22.14 crore, up from Rs 13.86 crore, while short-term borrowings rose to Rs 27.56 crore from Rs 20.01 crore. Current liabilities totalled Rs 79.18 crore, compared with Rs 68.00 crore at the financial year end.

The cash-flow statement reported net cash from operating activities of Rs 20.06 lakh for the half year, after working-capital movements including a Rs 14.34 crore increase in trade receivables and a Rs 21.17 crore increase in current loans and advances. Investing activities used Rs 13.40 crore, including Rs 15.21 crore for property, plant, equipment and intangible assets. Financing activities generated Rs 12.92 crore, leaving cash and cash equivalents Rs 28.05 lakh lower over the period.

Conclusion

Felix Industries combined a 58% increase in H1 revenue from operations with a 45% rise in profit attributable to shareholders. India added Rs 8.71 crore of customer revenue and Oman added Rs 13.17 crore, while total expenses rose by Rs 16.38 crore against a Rs 22.83 crore increase in total revenue. September-quarter revenue from operations also exceeded the Rs 28.22 crore reported in June 2026.

The unresolved matter to watch is the basis for the consolidated information from subsidiaries and the associate. The limited-review auditor said its conclusion on Felix Industries LLC, five Indian subsidiaries and Eco-Vision Aqua Care Private Limited relied solely on unaudited results certified and approved by the holding company’s management, while the September 30, 2026 consolidated results remain unaudited.