G V Electricals Limited profit after tax rises 55% to Rs 6.04 crore

G V Electricals Limited reported profit after tax of Rs 6.04 crore for the half year ended September 30, 2026, up 55% from Rs 3.89 crore a year earlier, while revenue from operations increased 11.6% to Rs 81.97 crore. The board approved the unaudited standalone results on November 12, 2026.

How did G V Electricals perform in the September 2026 half year?

G V Electricals increased revenue from operations to Rs 81.97 crore in the half year ended September 30, 2026, from Rs 73.46 crore in the corresponding half year ended September 30, 2025. Total income rose to Rs 82.05 crore from Rs 73.48 crore, including other income of Rs 7.97 lakh compared with Rs 1.48 lakh a year earlier.

Profit before tax rose to Rs 8.21 crore from Rs 6.44 crore, while profit after tax increased to Rs 6.04 crore from Rs 3.89 crore. Current tax was Rs 2.25 crore in the latest half year, and deferred tax was a credit of Rs 7.37 lakh. The statement did not report exceptional or extraordinary items for either of the two comparable half-year periods.

The rise in total income of Rs 8.57 crore exceeded the Rs 6.80 crore increase in total expenses, resulting in higher profit before tax. The filing does not attribute this movement to specific customers, contracts, products or operating initiatives, and G V Electricals reports its operations as a single segment.

What changed from the preceding half year?

G V Electricals reported lower revenue but higher profit before tax than in the half year ended March 31, 2026. Revenue from operations decreased by Rs 97.94 lakh from Rs 82.95 crore, while total expenses declined by Rs 1.49 crore to Rs 73.84 crore from Rs 75.32 crore.

Profit before tax increased to Rs 8.21 crore from Rs 7.86 crore despite total income declining to Rs 82.05 crore from Rs 83.18 crore. Profit after tax, however, fell to Rs 6.04 crore from Rs 6.57 crore. Other income was Rs 7.97 lakh in the September 2026 half year, compared with Rs 23.32 lakh in the preceding half.

The March 2026 half-year figures are balancing figures between audited full-year results and results up to September 30, 2025, according to the notes. For the year ended March 31, 2026, G V Electricals reported revenue from operations of Rs 156.41 crore and profit after tax of Rs 10.47 crore.

Which costs changed during the September 2026 half year?

G V Electricals reported employee-benefit expense of Rs 54.69 crore for the September 2026 half year, down from Rs 56.86 crore in the March 2026 half but above Rs 49.67 crore in the September 2025 half. Other expenses were Rs 16.43 crore, compared with Rs 15.39 crore sequentially and Rs 14.70 crore a year earlier.

Cost of materials consumed rose to Rs 3.07 crore from Rs 2.09 crore in the March 2026 half and Rs 1.58 crore in the September 2025 half. Finance costs increased to Rs 84.15 lakh from Rs 72.54 lakh sequentially and Rs 58.45 lakh a year earlier, while depreciation and amortisation was Rs 71.80 lakh compared with Rs 48.19 lakh in the year-earlier half.

The result statement records earnings per equity share of Rs 5.92 for the September 2026 half year, compared with Rs 7.94 for the March 2026 half. G V Electricals stated that the depreciation charge in the September 2026 half-year financial statements was provided provisionally.

What does G V Electricals’ September balance sheet show?

G V Electricals’ total assets stood at Rs 117.31 crore on September 30, 2026, compared with Rs 78.40 crore on March 31, 2026. Cash and bank balances rose to Rs 38.61 crore from Rs 6.01 crore, while trade receivables declined to Rs 45.82 crore from Rs 51.16 crore.

Shareholders’ funds increased to Rs 73.41 crore from Rs 33.67 crore over the same period. Share capital rose to Rs 11.28 crore from Rs 8.28 crore, and reserves and surplus increased to Rs 62.13 crore from Rs 25.39 crore.

Current liabilities decreased to Rs 36.76 crore from Rs 37.67 crore, although short-term borrowings increased to Rs 17.85 crore from Rs 15.48 crore. Other current liabilities fell to Rs 11.24 crore from Rs 15.94 crore, while inventories rose to Rs 7.43 crore from Rs 4.73 crore. Long-term borrowings were Rs 1.02 crore at September 30, 2026, compared with Rs 9.36 crore at March 31, 2026.

What cash-flow and review disclosures accompanied the results?

G V Electricals reported net cash used in operating activities of Rs 1.40 crore for the half year ended September 30, 2026, compared with net cash generated from operating activities of Rs 1.34 crore in the year-earlier half. Net cash used in investing activities was Rs 8.27 crore, including Rs 7.00 crore invested in fixed deposits.

Net cash generated from financing activities was Rs 35.26 crore, compared with Rs 6.55 crore in the September 2025 half. The cash-flow statement records Rs 3.00 crore of share issue proceeds and Rs 30.71 crore of securities premium, and shows cash and cash equivalents closing at Rs 27.05 crore on September 30, 2026.

SSKN & Associates, Chartered Accountants, conducted a limited review of the unaudited standalone results. The reviewer said nothing had come to its attention to indicate that the statement failed to make the disclosures required under Regulation 33 of the Securities and Exchange Board of India listing regulations or contained a material misstatement.

Conclusion

G V Electricals delivered year-on-year growth in the half year ended September 30, 2026, with revenue from operations rising Rs 8.51 crore and profit after tax increasing Rs 2.15 crore. The increase in total income exceeded the rise in expenses, lifting profit before tax to Rs 8.21 crore, although revenue was modestly below the Rs 82.95 crore reported in the preceding half.

The next reported results will show whether revenue moves above the March 2026 half-year level and how operating cash flow develops after the Rs 1.40 crore outflow in the September half. The filing also leaves the provisional depreciation charge as an unresolved reporting matter, while disclosing no revenue target, expansion plan or scheduled operating milestone.