Inani Securities Q2 FY27 profit rises to ₹0.08 cr YoY

What the latest BSE filing says

Inani Securities Ltd (BSE: 531672) has reported a net profit of ₹0.0796 crore for the quarter ended September 30, 2026 (Q2 FY27). The company disclosed the numbers as part of its unaudited financial results filed with the exchange. The same set of updates also notes the results were reviewed by the statutory auditors under a limited review process.

The Q2 FY27 profit compares with ₹0.0195 crore in the corresponding quarter last year (Q2 FY26). Alongside profit, the company reported revenue from operations of ₹0.3563 crore for Q2 FY27, up from ₹0.2519 crore a year earlier. Total income, including other income, was reported at ₹0.4984 crore versus ₹0.4136 crore in Q2 FY26.

Board approval and auditor limited review

The company said its Board of Directors met on October 12, 2026, and approved the unaudited financial results for the quarter ended September 30, 2026. The statutory auditors, G.D. Upadhyay & Co., carried out a limited review and issued a report stating that nothing has come to their attention to suggest the statements were not prepared in line with applicable accounting standards.

Separately, one of the updates around the same results also mentions board approval on August 13, 2026, along with an unmodified limited review report. The disclosures consistently indicate that the quarter’s results were taken up by the board and accompanied by an auditor review conclusion without modification.

Q2 FY27: profit up, income higher

Inani Securities reported that net profit for Q2 FY27 rose to ₹0.0796 crore from ₹0.0195 crore in Q2 FY26. Another summary of the same period described this as a 308% year-on-year rise, based on the company’s disclosed figures. Revenue from operations was reported to have increased 41% year-on-year to ₹0.3563 crore.

The company also reported earnings per share (EPS) of ₹0.17 for Q2 FY27 on both basic and diluted bases, compared with ₹0.04 in the year-ago quarter. While profit and income moved up on a year-on-year basis for the September 2026 quarter, the filings also highlight cash flow and liquidity movements at the half-year level.

Cash flow and liquidity: a key contrast

One disclosure flagged a divergence between profitability and cash generation. It reported operating cash flow turned negative at ₹7.5134 crore for H1 FY27. It also noted cash and cash equivalents fell to ₹1.8923 crore from ₹9.5006 crore as of March 2026.

The same update included leverage and coverage metrics, indicating a debt equity ratio of 0.13. Interest coverage ratio for the quarter was reported at 2.87, and the debt service coverage ratio at 1.87. These metrics were presented alongside the quarterly profit improvement, giving investors additional context on balance sheet and servicing capacity as reported.

March 2026 quarter: nil profit and lower sales

For the quarter ended March 2026, the company reported standalone nil net profit or loss. This compared against a net profit of ₹0.31 crore in the previous quarter ended March 2025, as stated in the provided results summary. Sales for the March 2026 quarter declined 6.25% to ₹0.30 crore from ₹0.32 crore in the period referenced as March 2025.

The March-quarter update matters because it frames the FY26 exit quarter as a weak profit period, before the subsequent quarters in FY27 showed positive reported profit again.

FY26 vs FY25: full-year performance weakened

For the year ended March 2026 (FY26), Inani Securities reported net profit of ₹0.08 crore compared with ₹0.57 crore in FY25, a decline of 85.96%. Sales for FY26 were reported at ₹1.08 crore versus ₹1.46 crore in FY25, down 26.03%.

Another FY26 financial summary in the disclosures added that operating profit stood at ₹0.10 crore in FY26 compared to ₹0.76 crore in FY25, down 86.84% year-on-year. The company also disclosed that the board approved the audited financial results for the fourth quarter and year ended March 31, 2026 at a meeting held on May 29, 2026, and that the statutory auditors issued an audit report with an unmodified opinion on those standalone results.

Other disclosed quarterly reference points

The company’s disclosures also include a snapshot for the quarter ended September 30, 2025 (Q2 FY26), showing sales of ₹0.26 crore and profit after tax of ₹0.03 crore with EPS of ₹0.07. Separately, a quarterly highlights note stated revenue of ₹0.28 crore in June 2026 compared with ₹0.30 crore in March 2026, a 6.67% quarter-on-quarter decline. The same note reported operating profit of ₹0.02 crore in June 2026 versus ₹0.00 crore in March 2026, and profit of ₹0.02 crore in June 2026 versus ₹0.00 crore in March 2026, with EPS of ₹0.17 for June 2026.

These points, taken together, show that profitability has been reported across quarters in FY27 after a weak FY26 end-quarter, while the company’s year-on-year base in FY26 remained lower than FY25.

Key numbers at a glance

Timeline of approvals and reviews

Market impact: what investors can take away from the data

The latest quarter’s profit improvement is clear in the year-on-year comparison for Q2 FY27, supported by higher revenue from operations and higher total income as disclosed. At the same time, the FY26 full-year comparison shows a much lower profit base than FY25, with profit and sales declines reported for the year ended March 2026.

The additional cash flow and liquidity disclosures introduce an important cross-check for investors. A negative operating cash flow of ₹7.5134 crore for H1 FY27 and a reported drop in cash and cash equivalents to ₹1.8923 crore from ₹9.5006 crore (as of March 2026) are significant balance sheet signals, even while quarterly profitability is positive.

Analysis: why this update matters

This set of filings matters because it places a quarter of improved profitability against a weaker FY26 annual backdrop. The Q2 FY27 outcome reflects higher year-on-year income and higher EPS, but the company’s disclosed FY26 numbers show that the business experienced a sharp drop in profit compared with FY25.

It also matters because auditor review language and board approvals are explicit in the filings. The limited review conclusion from G.D. Upadhyay & Co. stated that nothing came to their attention suggesting non-compliance with accounting standards for the unaudited statement, and the audited FY26 results carried an unmodified opinion. For market participants, this combination of quarterly performance, annual comparisons, and auditor sign-offs provides the factual framework typically used to track consistency across periods.

Conclusion

Inani Securities’ Q2 FY27 filing shows net profit of ₹0.0796 crore, up from ₹0.0195 crore a year earlier, with revenue from operations and total income also higher year-on-year. The broader record still shows FY26 profit and sales were materially lower than FY25, and the company has also disclosed negative operating cash flow for H1 FY27 along with a reduction in cash and cash equivalents. The next set of quarterly disclosures and board outcomes will be the key checkpoints for confirming whether the improved quarterly profitability continues alongside cash flow movement.