Innova Captab Q2 profit climbs 43% as revenue rises 30%

Innova Captab Limited reported consolidated profit of Rs 42.422 crore for the quarter ended 30 September 2026, up 43% year on year, as revenue from operations rose 30% to Rs 496.299 crore. Total expenses increased 28%, below the 30% rise in total income, while finance costs declined to Rs 4.271 crore.

What did Innova Captab report for the September 2026 quarter?

Innova Captab reported total income of Rs 498.763 crore for the quarter ended 30 September 2026, compared with Rs 384.574 crore in the quarter ended 30 September 2025. Revenue from operations made up Rs 496.299 crore of the latest-quarter total, while other income was Rs 2.464 crore, down from Rs 4.193 crore a year earlier.

Profit before tax rose to Rs 56.298 crore from Rs 39.235 crore, while total tax expense increased to Rs 13.876 crore from Rs 9.565 crore. Profit for the period attributable to owners of the parent was Rs 42.422 crore, against Rs 29.670 crore. Total comprehensive income was Rs 41.749 crore after an other comprehensive loss, net of tax, of Rs 67.3 lakh.

Innova Captab’s basic and diluted earnings per share were Rs 7.41 for the September 2026 quarter, compared with Rs 5.18 for the September 2025 quarter. The company stated that quarterly earnings per share were not annualised. Paid-up equity share capital was unchanged at Rs 57.225 crore, based on a face value of Rs 10 per share.

How did Innova Captab’s quarterly expenses change?

Innova Captab’s total expenses rose to Rs 442.465 crore from Rs 345.339 crore, an increase that was slower than the rise in total income to Rs 498.763 crore from Rs 384.574 crore. This comparison corresponds with profit before tax increasing 44% to Rs 56.298 crore from Rs 39.235 crore.

Cost of materials consumed rose to Rs 325.101 crore from Rs 233.945 crore. Employee-benefit expense increased to Rs 45.077 crore from Rs 41.715 crore, other expenses rose to Rs 49.675 crore from Rs 43.224 crore, and purchases of stock-in-trade increased to Rs 10.482 crore from Rs 5.647 crore.

Finance costs fell to Rs 4.271 crore from Rs 5.495 crore, while depreciation and amortisation increased to Rs 11.836 crore from Rs 11.322 crore. Changes in inventories of finished goods, work-in-progress and stock-in-trade resulted in a credit of Rs 3.977 crore, compared with an expense of Rs 3.991 crore in the prior-year quarter.

Current tax rose to Rs 13.464 crore from Rs 5.509 crore, whereas deferred tax declined to Rs 41.2 lakh from Rs 4.056 crore. Compared with the immediately preceding quarter ended 30 June 2026, revenue from operations increased from Rs 470.852 crore, but profit for the period declined from Rs 44.126 crore and profit before tax declined from Rs 58.985 crore.

What do Innova Captab’s first-half results show?

Innova Captab reported revenue from operations of Rs 967.151 crore for the half year ended 30 September 2026, up from Rs 731.923 crore in the corresponding half year ended 30 September 2025. Total income increased to Rs 971.622 crore from Rs 740.599 crore over the same periods.

Profit for the half year rose 43% to Rs 86.548 crore from Rs 60.685 crore, while profit before tax increased to Rs 115.283 crore from Rs 81.912 crore. Total expenses were Rs 856.339 crore, compared with Rs 658.687 crore, and total tax expense increased to Rs 28.735 crore from Rs 21.227 crore.

Innova Captab recorded half-year earnings per share of Rs 15.12, compared with Rs 10.60 a year earlier; both figures were not annualised. Finance costs for the six-month period were Rs 8.700 crore, compared with Rs 8.355 crore in the prior-year half, unlike the year-on-year decline reported in the September quarter alone.

How did Innova Captab’s assets, borrowings and cash flow change?

Innova Captab’s total assets were Rs 1,994.083 crore at 30 September 2026, compared with Rs 1,837.814 crore at 31 March 2026. Current assets increased to Rs 1,109.439 crore from Rs 922.961 crore, including inventories of Rs 316.858 crore and trade receivables of Rs 490.217 crore, versus Rs 283.256 crore and Rs 437.286 crore respectively at the March year-end.

Cash and cash equivalents increased to Rs 14.856 crore at 30 September 2026 from Rs 3.199 crore at 31 March 2026. Current investments rose to Rs 82.937 crore from Rs 41.285 crore, while non-current assets declined to Rs 884.644 crore from Rs 914.853 crore and capital work-in-progress fell to Rs 9.327 crore from Rs 15.504 crore.

Total equity increased to Rs 1,167.558 crore from Rs 1,081.514 crore. Non-current borrowings declined to Rs 200.329 crore from Rs 214.802 crore, but current borrowings rose to Rs 154.100 crore from Rs 127.867 crore; combined borrowings were therefore Rs 354.429 crore at 30 September 2026, compared with Rs 342.669 crore at 31 March 2026.

Net cash generated from operating activities for the half year was Rs 72.559 crore, against Rs 29.719 crore in the prior-year period. Investing activities used Rs 64.406 crore, including Rs 40.008 crore spent on current investments and Rs 25.389 crore on property, plant and equipment, while financing activities generated Rs 3.052 crore.

Were Innova Captab’s consolidated results reviewed?

Innova Captab’s consolidated results for the quarter and half year ended 30 September 2026 were reviewed by B S R & Co. LLP, which issued an unmodified review conclusion dated 13 November 2026. The Board approved the unaudited results at its meeting on 13 November 2026, which commenced at 15:04 Indian Standard Time and concluded at 15:42 Indian Standard Time.

The consolidated group comprises Innova Captab, Univentis Medicare Limited, Sharon Bio-Medicine Limited and Univentis Foundation. The review report said one subsidiary, with total assets before consolidation adjustments of Rs 12.9 lakh at 30 September 2026, had its interim financial information reviewed by another auditor; the reviewer’s conclusion was not modified on this matter.

Conclusion

Innova Captab’s September-quarter profit grew faster than revenue, with profit rising 43% to Rs 42.422 crore and revenue from operations increasing 30% to Rs 496.299 crore. The result reflected total expenses rising 28%, a quarterly decline in finance costs, and a swing in inventory changes from an expense in the prior-year quarter to a credit in the latest quarter.

The filing does not disclose revenue guidance, a target or an operating plan. The next point to watch is whether the changes reported at 30 September 2026 in inventories of Rs 316.858 crore, trade receivables of Rs 490.217 crore and current borrowings of Rs 154.100 crore are accompanied by further changes in operating cash flow, which was Rs 72.559 crore for the half year.