Growington profit drops 70% as quarterly revenue falls 36%

Growington Ventures India Limited (Growington) reported consolidated profit after tax of Rs 49.50 lakh for the quarter ended September 30, 2026, down 70% from Rs 1.62 crore in the June quarter, as revenue from operations fell 36% to Rs 30.79 crore. Profit was also 48% below Rs 94.96 lakh a year earlier.

What were Growington’s September-quarter results?

Growington’s revenue from operations was Rs 30.79 crore in the September 2026 quarter, compared with Rs 47.93 crore in the June 2026 quarter and Rs 27.40 crore in the September 2025 quarter. Total income was Rs 31.03 crore, against Rs 48.08 crore sequentially and Rs 27.64 crore a year earlier. Other income was Rs 23.77 lakh, compared with Rs 14.73 lakh in June and Rs 24.05 lakh in the prior-year quarter.

Profit before tax was Rs 81.70 lakh, down from Rs 2.45 crore in June 2026 and Rs 1.23 crore in September 2025. Profit after tax was Rs 49.50 lakh, compared with Rs 1.62 crore sequentially and Rs 94.96 lakh a year earlier. The revenue comparison shows a 12% year-on-year increase, while profit after tax declined despite that annual revenue growth.

Growington reported basic and diluted earnings per share, or EPS, of Rs 0.01 for the September quarter. Basic and diluted EPS were Rs 0.03 in the June quarter and Rs 0.02 in the September 2025 quarter. The filing states that EPS for the interim period has not been annualised.

How did Growington’s costs change during the quarter?

Growington’s total expenses were Rs 30.21 crore in the September quarter, compared with Rs 45.62 crore in June 2026 and Rs 26.41 crore in the September 2025 quarter. The latest-quarter expense total was lower by Rs 15.41 crore sequentially, broadly alongside the Rs 17.14 crore reduction in revenue from operations. It was Rs 3.80 crore higher than the prior-year quarter.

Purchases of stock in trade and availed services were Rs 28.50 crore, down from Rs 42.75 crore in June but above Rs 26.33 crore a year earlier. Other expenses rose to Rs 1.54 crore from Rs 99.69 lakh in June, while finance cost was Rs 33.01 lakh versus Rs 38.81 lakh sequentially and Rs 4.16 lakh a year earlier. Tax expense was Rs 32.20 lakh, against Rs 82.60 lakh in June and Rs 27.68 lakh in September 2025; no exceptional items were reported for the three quarters.

How did Growington’s first-half performance compare with last year?

Growington reported revenue from operations of Rs 78.72 crore for the half year ended September 30, 2026, compared with Rs 43.91 crore in the corresponding prior-year half. The increase of Rs 34.81 crore came alongside profit after tax of Rs 2.32 crore, down from Rs 3.09 crore in the half year ended September 30, 2025. Profit before tax was Rs 3.22 crore, compared with Rs 3.88 crore a year earlier.

Purchases of stock in trade and availed services increased to Rs 71.34 crore in the latest first half from Rs 38.03 crore in the comparable period. Growington identifies trading of fruits and other agricultural products as its single significant primary business segment. As a result, the filing does not provide separate segment data identifying the products or activities behind the sequential reduction in quarterly revenue.

What changed in Growington’s cash flow and borrowings?

Growington used Rs 8.34 crore in operating activities during the half year ended September 30, 2026, compared with an operating outflow of Rs 47.53 crore in the prior-year half. Cash generated from operations was negative Rs 7.13 crore before direct tax paid of Rs 1.22 crore. Working-capital movements included a Rs 7.99 crore decrease in trade payables and a Rs 6.85 crore increase in other current assets.

Financing activities generated Rs 9.00 crore in the latest half year, including Rs 8.16 crore of proceeds from short-term borrowings and Rs 1.60 crore of proceeds from long-term borrowings. Net cash used in investing activities was Rs 1.32 crore, compared with net cash generated of Rs 67.04 lakh in the prior-year half. Cash and cash equivalents declined to Rs 1.50 crore at September 30, 2026 from Rs 2.17 crore at March 31, 2026.

Total borrowings were Rs 17.72 crore at September 30, 2026, compared with Rs 7.96 crore at March 31, 2026. Total assets rose to Rs 108.18 crore from Rs 104.30 crore, while total equity increased to Rs 75.38 crore from Rs 73.04 crore. Inventories declined to Rs 74.16 lakh from Rs 1.71 crore over the same period.

What did Growington disclose about its subsidiary and review?

Growington’s consolidated results include Elementures Foodstuff Trading LLC, Dubai, its wholly owned subsidiary. The subsidiary reported revenue of Rs 2.39 crore for both the September quarter and the half year ended September 30, 2026. Its loss after tax was Rs 36.21 lakh for the quarter and Rs 42.70 lakh for the half year before consolidation adjustments.

Elementures reported total assets of Rs 5.99 crore, net assets of Rs 2.78 crore and net cash inflow of Rs 30.40 lakh for the half year. The statutory auditor conducted a limited review and stated that nothing had come to its attention indicating a material misstatement in the consolidated results. The auditor also said the subsidiary’s interim financial results had not been reviewed by its auditors and that its conclusion on those amounts relied on results approved and furnished by Growington’s management.

Conclusion

Growington’s September-quarter result combined a 36% sequential decline in revenue with a 70% reduction in profit after tax. First-half revenue was higher than in the prior-year period, but first-half profit after tax was lower, while operating cash flow remained negative and total borrowings increased to Rs 17.72 crore.

The next quarterly result will show whether revenue moves from the September-quarter level of Rs 30.79 crore and whether operating cash flow changes from the Rs 8.34 crore first-half outflow. The filing also leaves the progression of short-term borrowings, which were Rs 16.12 crore at September 30, 2026, as a balance-sheet item to monitor.