Ganga Bath Fittings half-year revenue reaches Rs 31.98 crore

Ganga Bath Fittings Limited (formerly known as Ganga Plast Industries Limited) reported consolidated revenue from operations of Rs 31.98 crore and profit for the period of Rs 1.11 crore for the half year ended September 30, 2026. Revenue was Rs 16.72 crore and profit was Rs 38.63 lakh in the corresponding prior-year period, but that comparison combines consolidated and standalone results.

What did Ganga Bath Fittings report for the September 2026 half year?

Ganga Bath Fittings reported total income of Rs 32.03 crore for the half year ended September 30, 2026, comprising Rs 31.98 crore of revenue from operations and Rs 4.99 lakh of other income. Total expenditure was Rs 30.57 crore, producing profit before tax of Rs 1.45 crore. A net tax credit of Rs 34.13 lakh resulted in profit for the period of Rs 1.11 crore.

Profit attributable to Ganga Bath Fittings was Rs 1.11 crore, while minority interest was Rs 1,000 in the September 2026 half year. Basic and diluted earnings per equity share were Rs 0.50, compared with Rs 0.17 in the half year ended September 30, 2025. The Audit Committee reviewed the results and the board took them on record on November 6, 2026.

The September 2026 figures are unaudited consolidated financial results prepared under Accounting Standard 21 and other standards specified under Section 133 of the Companies Act, 2013. Ganga Bath Fittings said its small and medium enterprises platform listing exempts it from adopting Indian Accounting Standards under a Ministry of Corporate Affairs notification dated February 16, 2015.

How did Ganga Bath Fittings’ revenue and profit change?

Ganga Bath Fittings’ reported revenue from operations rose by Rs 15.26 crore to Rs 31.98 crore in the September 2026 half year from Rs 16.72 crore a year earlier. Reported profit for the period rose by Rs 72.47 lakh from Rs 38.63 lakh to Rs 1.11 crore. The filing cautions that the latest numbers are consolidated whereas the comparative figures are standalone.

Profit before tax increased by Rs 92.18 lakh, from Rs 53.05 lakh in the September 2025 half year to Rs 1.45 crore. Other income increased from Rs 28,000 to Rs 4.99 lakh. The latest result included a Rs 34.13 lakh net tax credit, compared with a Rs 14.42 lakh tax credit in the prior-year half year.

Material consumed was Rs 19.04 crore in the latest half year, against Rs 16.36 crore a year earlier, while purchases of stock in trade were Rs 12.10 crore against nil. Changes in inventories of finished goods and work in progress were negative Rs 5.15 crore, compared with negative Rs 4.06 crore. Employee benefit expense rose to Rs 53.65 lakh from Rs 51.44 lakh.

Finance cost increased to Rs 57.04 lakh from Rs 44.31 lakh, and depreciation and amortisation expense rose to Rs 2.60 crore from Rs 26.32 lakh. Other expenses declined to Rs 87.27 lakh from Rs 2.67 crore. These cost-line movements occurred alongside total expenditure increasing to Rs 30.57 crore from Rs 16.19 crore.

Why are Ganga Bath Fittings’ prior-period figures not directly comparable?

Ganga Bath Fittings said the September 2026 half-year statement is its first set of consolidated financial results, while the comparative figures are the company’s standalone results. Its 99.99%-held subsidiary, Ganga Bathwares Solutions Private Limited, was incorporated on February 18, 2026. The latest revenue and profit therefore include the parent and subsidiary, unlike the September 2025 comparison.

The filing does not provide separate revenue, profit, assets or cash-flow figures for Ganga Bathwares Solutions Private Limited. It consequently does not quantify how much of the Rs 31.98 crore revenue or Rs 1.11 crore profit in the September 2026 half year came from the subsidiary. Ganga Bath Fittings also said prior-period figures were regrouped or recast where necessary to make them comparable.

Ganga Bath Fittings described its activities as manufacturing and trading, but did not disclose segment results. It said segment reporting was not applicable because the prescribed thresholds under Accounting Standard 17 were not met. The filing therefore does not split the Rs 31.98 crore of half-year revenue between manufacturing and trading activities.

Santoki Delvadia & Associates reviewed the consolidated statement for the half year ended September 30, 2026 under Standard on Review Engagements 2410. In its November 6, 2026 report, the auditor said nothing had come to its attention indicating required disclosures were absent or the statement contained a material misstatement. It also stated that a review is substantially narrower in scope than an audit.

What do Ganga Bath Fittings’ balance sheet and cash flows show?

Ganga Bath Fittings reported total assets of Rs 88.95 crore as at September 30, 2026, compared with Rs 78.77 crore at March 31, 2026. Inventories increased to Rs 44.18 crore from Rs 33.17 crore, while trade receivables increased to Rs 12.18 crore from Rs 11.25 crore. Cash and cash equivalents rose to Rs 2.74 crore from Rs 1.62 crore.

Reserves and surplus were Rs 33.50 crore at September 30, 2026, versus Rs 32.39 crore at March 31, 2026. Equity share capital remained Rs 22.21 crore. Long-term borrowings rose to Rs 4.69 crore from Rs 3.15 crore, and short-term borrowings increased to Rs 14.12 crore from Rs 11.51 crore.

Ganga Bath Fittings recorded net cash used in operating activities of Rs 1.97 crore in the September 2026 half year and net cash used in investing activities of Rs 49.55 lakh. Net cash from financing activities was Rs 3.58 crore. Cash consequently increased by Rs 1.12 crore during the period, from Rs 1.62 crore at its beginning to Rs 2.74 crore at its end.

Conclusion

Ganga Bath Fittings reported higher revenue and profit for the half year ended September 30, 2026, with revenue reaching Rs 31.98 crore and profit reaching Rs 1.11 crore. However, the reported improvement against the September 2025 half year is not a like-for-like comparison because the current period is consolidated and the earlier period is standalone.

What to watch next is whether a future filing provides a separate measure of the subsidiary’s contribution, an unresolved disclosure in the first consolidated results. The next results will also show how inventories of Rs 44.18 crore, borrowings of Rs 18.81 crore and operating cash outflow of Rs 1.97 crore develop after September 30, 2026.