Gujarat Inject (Kerala) first-half profit rises to Rs 1.98 crore

Gujarat Inject (Kerala) Limited reported standalone revenue from operations of Rs 18.27 crore and net profit of Rs 1.98 crore for the half-year ended September 30, 2026, compared with Rs 4.00 crore and Rs 14.10 lakh, respectively, a year earlier. The latest half-year included Rs 99.81 lakh of revenue from solar power generation.

How did Gujarat Inject (Kerala) perform in the first half?

Gujarat Inject (Kerala)'s revenue from operations rose to Rs 18.27 crore in the half-year ended September 30, 2026, from Rs 4.00 crore in the corresponding half-year of 2025. Total income increased to Rs 18.27 crore from Rs 4.06 crore because the earlier period included Rs 5.75 lakh of other income, while no other income was reported in the latest half-year.

Net profit increased to Rs 1.98 crore from Rs 14.10 lakh, while profit before tax rose to Rs 2.64 crore from Rs 18.82 lakh. Total expenses increased to Rs 15.63 crore from Rs 3.87 crore, and total tax expense was Rs 66.49 lakh, compared with Rs 4.72 lakh in the prior-year half-year.

Earnings per equity share for the six-month period were Rs 0.13, compared with Rs 0.01 for the comparable half-year. Gujarat Inject (Kerala) said the comparative earnings-per-share figures were restated after equity shares with a face value of Rs 10 each were subdivided into 10 equity shares of Re 1 each, with July 8, 2026 set as the entitlement date.

What drove Gujarat Inject (Kerala)'s revenue growth?

Gujarat Inject (Kerala)'s trading segment generated Rs 17.28 crore of revenue during the September 2026 half-year, compared with Rs 4.00 crore in the corresponding 2025 half-year. Solar power generation added Rs 99.81 lakh of revenue in the latest half-year, whereas the segment reported no revenue in the prior-year comparison period.

The company said revenue from the project began to flow during the quarter ended September 30, 2026, applying Indian Accounting Standard 115, Revenue from Contracts with Customers. Property, plant and equipment stood at Rs 15.70 crore on September 30, 2026, while capital work in progress of Rs 20.76 crore reported on March 31, 2026 was no longer shown under that balance-sheet line.

The segment disclosure reported trading segment profit before tax of Rs 1.95 crore for the latest half-year, compared with Rs 18.82 lakh a year earlier. It also reported solar power generation segment profit before tax of Rs 19.61 lakh after depreciation of Rs 8.21 lakh, while the primary results statement reported company profit before tax of Rs 2.64 crore.

Solar power generation accounted for Rs 67.11 lakh of segment profit after tax in the September 2026 quarter, according to the segment table. The filing also reported Rs 1.00 crore of solar revenue in that quarter, marking the first reported contribution from the segment in the disclosed comparative periods.

How did costs and quarterly results change at Gujarat Inject (Kerala)?

Gujarat Inject (Kerala) recorded purchases of stock in trade of Rs 15.32 crore in the September 2026 half-year, up from Rs 3.78 crore a year earlier, alongside the increase in trading revenue. Employee benefits expense rose to Rs 8.70 lakh from Rs 2.70 lakh, other expenses rose to Rs 14.06 lakh from Rs 6.09 lakh, and depreciation was Rs 8.21 lakh against nil in the prior-year half-year.

In the September 2026 quarter alone, revenue from operations was Rs 5.82 crore, below Rs 12.45 crore in the June 2026 quarter but above Rs 1.58 crore in the September 2025 quarter. Net profit was Rs 72.53 lakh, compared with Rs 1.25 crore in the preceding quarter and Rs 6.75 lakh a year earlier.

Trading revenue was Rs 4.82 crore in the September quarter, compared with Rs 12.45 crore in the June quarter, while solar power generation provided Rs 99.81 lakh in September and no revenue in June. Gujarat Inject (Kerala) said the September-quarter numbers were balancing figures calculated from the half-year results and June-quarter results.

What does Gujarat Inject (Kerala)'s balance sheet show?

Gujarat Inject (Kerala)'s total assets were Rs 28.99 crore on September 30, 2026, compared with Rs 36.67 crore on March 31, 2026. Non-current assets declined to Rs 20.02 crore from Rs 25.10 crore, while current assets declined to Rs 8.97 crore from Rs 11.56 crore over the same period.

Total equity increased to Rs 13.39 crore from Rs 11.83 crore as other equity improved to negative Rs 1.25 crore from negative Rs 2.81 crore. Paid-up equity share capital remained Rs 14.63 crore, while total current liabilities fell to Rs 15.58 crore from Rs 24.84 crore.

Trade payables to creditors other than micro and small enterprises declined to Rs 12.20 crore on September 30 from Rs 20.25 crore at March 31. Cash and cash equivalents were Rs 4.80 lakh, compared with Rs 67.82 lakh at the March year-end, while current investments were Rs 7.69 crore versus Rs 6.35 crore.

The supplied filing provides a statement of assets and liabilities but does not provide a cash-flow statement for the half-year ended September 30, 2026. Therefore, the movement from Rs 67.82 lakh to Rs 4.80 lakh in cash and cash equivalents cannot be separated into operating, investing and financing cash flows from this disclosure.

What capital actions has Gujarat Inject (Kerala) proposed?

Gujarat Inject (Kerala)'s board resolved on October 29, 2026 to increase authorised share capital to Rs 17.63 crore from Rs 15.00 crore, an increase of Rs 2.63 crore. The company said the increase was intended to facilitate a proposed equity-share issue for an aggregate amount of up to Rs 3.00 crore, subject to shareholder approval.

The board also resolved to raise up to Rs 3.00 crore through a preferential issue of 3 crore equity warrants with a face value of Re 1 each to non-promoter or public-category investors. The issue price is to be determined under Securities and Exchange Board of India Issue of Capital and Disclosure Requirements regulations, with shareholder and applicable regulatory or statutory approvals still required.

The unaudited standalone results were reviewed by the audit committee and approved by the board on November 5, 2026. Gujarat Inject (Kerala) also said S. Mandawat & Co., its statutory auditor, had issued a limited review report for the second quarter and half-year ended September 30, 2026.

Conclusion

Gujarat Inject (Kerala)'s first-half results show revenue increasing from Rs 4.00 crore to Rs 18.27 crore and net profit increasing from Rs 14.10 lakh to Rs 1.98 crore. Trading supplied Rs 17.28 crore of half-year revenue, while the solar power generation segment added Rs 99.81 lakh after project revenue began during the September quarter.

The next disclosed matters to watch are shareholder and regulatory decisions on the proposed Rs 3.00 crore preferential warrant issue and the increase in authorised share capital to Rs 17.63 crore. Future results will also show whether solar power generation continues to contribute revenue after its first reported Rs 99.81 lakh of half-year sales.