Innovators Façade Systems Limited first-half revenue rises 64%

Innovators Façade Systems reported consolidated revenue from operations of Rs 137.3411 crore for the half year ended September 30, 2026, a 64% increase from Rs 83.6022 crore a year earlier, while net profit rose 68% to Rs 8.7909 crore. The board approved the reviewed results on November 6, 2026.

How did Innovators Façade Systems perform in the first half?

Innovators Façade Systems increased consolidated revenue from operations by Rs 53.7389 crore year on year in the half year ended September 30, 2026. Revenue was Rs 137.3411 crore, against Rs 83.6022 crore in the half year ended September 30, 2025. Other income rose to Rs 2.0659 crore from Rs 1.3577 crore, taking total income to Rs 139.4070 crore from Rs 84.9599 crore.

Consolidated profit before tax was Rs 11.8817 crore, compared with Rs 7.1851 crore in the prior-year half. Tax expense totalled Rs 3.0908 crore, comprising current tax of Rs 2.5433 crore and deferred tax of Rs 0.5475 crore. Net profit after tax therefore rose to Rs 8.7909 crore from Rs 5.2436 crore.

Consolidated and standalone revenue were both Rs 137.3411 crore in the September 2026 half. Consolidated profit after tax of Rs 8.7909 crore was Rs 9.65 lakh above standalone profit of Rs 8.6944 crore, reflecting the group’s Rs 9.79 lakh share of associate profit, partly offset by Rs 0.14 lakh of higher consolidated other expenses. In the September 2025 half, the group’s share of associate profit was Rs 16.92 lakh.

What costs rose alongside Innovators Façade Systems’ revenue?

Innovators Façade Systems’ total consolidated expenses rose to Rs 127.6233 crore in the September 2026 half from Rs 77.9440 crore a year earlier. Cost of contracts was the largest expense at Rs 92.2025 crore, compared with Rs 49.9377 crore. Its Rs 42.2648 crore increase accounted for most of the Rs 49.6793 crore rise in total expenses.

Employee benefits expense increased to Rs 19.2493 crore from Rs 14.2429 crore, while finance costs increased to Rs 5.3288 crore from Rs 4.4247 crore. Depreciation and amortisation rose to Rs 2.6834 crore from Rs 2.5598 crore, and other expenses were Rs 8.1592 crore against Rs 6.7789 crore in the prior-year period.

Total income increased by Rs 54.4471 crore, exceeding the Rs 49.6793 crore increase in expenses. This lifted profit before the share of associates to Rs 11.7838 crore from Rs 7.0159 crore. The results provide no project-level pricing, order-inflow figure, or separate margin target.

How did the September half compare with the preceding half?

Innovators Façade Systems’ revenue from operations was Rs 137.3411 crore in the half year ended September 30, 2026, compared with Rs 143.9129 crore in the half year ended March 31, 2026. Revenue was therefore Rs 6.5718 crore lower sequentially, while total income declined by Rs 6.1124 crore to Rs 139.4070 crore from Rs 145.5194 crore.

Despite the lower sequential revenue, consolidated net profit increased to Rs 8.7909 crore from Rs 8.3258 crore in the March 2026 half. Profit before tax was Rs 11.8817 crore, marginally above Rs 11.7416 crore. Contract costs declined to Rs 92.2025 crore from Rs 103.8675 crore, while employee benefits rose to Rs 19.2493 crore from Rs 16.1512 crore and finance costs rose to Rs 5.3288 crore from Rs 3.0746 crore.

Basic and diluted consolidated earnings per share, which are not annualised, were Rs 4.66 for the September 2026 half, compared with Rs 4.41 in the March 2026 half and Rs 2.78 in the September 2025 half. Paid-up equity share capital remained Rs 18.8678 crore across the three reported half-year columns, with a face value of Rs 10 per share.

What does Innovators Façade Systems’ balance sheet show?

Innovators Façade Systems reported consolidated total assets of Rs 413.6944 crore as of September 30, 2026, compared with Rs 358.6845 crore at March 31, 2026. Current assets rose to Rs 303.8315 crore from Rs 232.4479 crore, while non-current assets declined to Rs 109.8629 crore from Rs 126.2366 crore.

Inventories rose by Rs 24.9252 crore to Rs 112.8916 crore, and trade receivables increased by Rs 24.9660 crore to Rs 66.8796 crore. Unbilled revenue was Rs 45.8698 crore, compared with Rs 42.3913 crore at March 31, 2026. Cash and bank balances were Rs 55.0107 crore, up from Rs 40.6329 crore.

Current liabilities increased to Rs 210.6683 crore from Rs 172.7542 crore, and non-current liabilities increased to Rs 19.0693 crore from Rs 10.7644 crore. Short-term borrowings rose to Rs 52.7370 crore from Rs 39.7945 crore, while long-term borrowings rose to Rs 12.9028 crore from Rs 5.3354 crore. Consolidated shareholders’ funds reached Rs 183.9568 crore, including reserves and surplus of Rs 165.0890 crore.

What was Innovators Façade Systems’ cash-flow position?

Innovators Façade Systems generated consolidated net operating cash inflow of Rs 1.1483 crore during the half year ended September 30, 2026. Cash generated from operations was Rs 3.7644 crore, followed by income-tax payments of Rs 2.6160 crore. The cash-flow statement was prepared using the indirect method prescribed under Accounting Standard 3.

Working-capital movements absorbed much of operating profit before working-capital changes of Rs 17.7362 crore. Inventories increased by Rs 24.9251 crore and trade receivables increased by Rs 28.4444 crore, while trade payables increased by Rs 17.1159 crore and other current liabilities increased by Rs 7.8117 crore.

Investing activities used Rs 16.6865 crore, including Rs 14.7349 crore for fixed-deposit investments and Rs 4.0114 crore for property, plant and equipment and capital work in progress. Financing activities provided Rs 15.1811 crore, as Rs 22.3131 crore of borrowing proceeds exceeded Rs 1.8032 crore of repayments and Rs 5.3288 crore of finance costs. Cash and cash equivalents fell to Rs 34.83 lakh from Rs 70.54 lakh over the half year.

Conclusion

Innovators Façade Systems’ September 2026 half-year results combine 64% year-on-year revenue growth with a 68% increase in net profit. The increase in income exceeded the rise in expenses, although employee benefits, finance costs, inventories and receivables all increased, and net operating cash inflow was Rs 1.1483 crore.

The next disclosed event is an extraordinary general meeting on November 25, 2026, where shareholders will consider the proposed acquisition of the remaining 51.03% equity interest in Innovators Contracting Works Private Limited for Rs 11.2215 crore through a share swap. The proposal, approved in principle on October 26, 2026, requires shareholder and other applicable regulatory approvals and had no impact on the September 2026 results.