Interiors & More first-half profit rises 39% to Rs 4.32 crore

Interiors & More Limited reported consolidated profit after tax of Rs 4.32 crore for the six months ended 30 September 2026, up 39% from Rs 3.10 crore a year earlier, as revenue from operations rose 59% to Rs 35.53 crore.

What drove Interiors & More’s first-half profit increase?

Interiors & More’s 39% increase in consolidated profit followed 59% growth in revenue from operations during the six months ended 30 September 2026. Revenue reached Rs 35.53 crore, compared with Rs 22.31 crore in the six months ended 30 September 2025. Total income from operations, including other income, rose to Rs 36.01 crore from Rs 22.51 crore over the same comparison.

Profit before tax increased 45% to Rs 5.71 crore from Rs 3.95 crore. After current tax of Rs 1.04 crore and deferred tax of Rs 34.77 lakh, profit after tax was Rs 4.32 crore. In the comparable prior-year half, current tax was Rs 80.33 lakh and deferred tax was Rs 4.37 lakh, resulting in profit after tax of Rs 3.10 crore.

Income growth exceeded the increase in total expenses over the year-earlier half. Total expenses rose 63% to Rs 30.30 crore, while total income increased 60% to Rs 36.01 crore. The filing records no exceptional item for the six months ended 30 September 2026 and says the business operates in one segment, so it gives no segment-level revenue split.

How did Interiors & More’s costs change during the half-year?

Interiors & More’s material-consumption expense rose to Rs 35.35 crore from Rs 18.22 crore, while the inventory-change line was negative Rs 18.05 crore compared with negative Rs 10.15 crore a year earlier. These separately reported lines represented the largest movements among the operating-cost items in the six-month comparison.

Employee benefit expense increased 32% to Rs 4.76 crore from Rs 3.61 crore. Finance costs rose to Rs 2.40 crore from Rs 96.63 lakh, and depreciation and amortisation increased to Rs 1.39 crore from Rs 83.79 lakh. Other expenses declined to Rs 4.45 crore from Rs 5.07 crore in the six months ended 30 September 2025.

The September 2026 half was smaller than the preceding six-month period ended 31 March 2026, which the statement reports as audited. Revenue from operations for that preceding period was Rs 61.29 crore and profit after tax was Rs 10.44 crore, compared with Rs 35.53 crore and Rs 4.32 crore respectively in the September 2026 half. For the year ended 31 March 2026, revenue from operations was Rs 83.60 crore and profit after tax was Rs 13.54 crore.

Earnings per equity share, which Interiors & More said were not annualised, were Rs 3.09 for the September 2026 half, compared with Rs 2.22 in the corresponding prior-year period. Paid-up equity share capital was Rs 13.99 crore at 30 September 2026, unchanged from 31 March 2026, versus Rs 7.00 crore at 30 September 2025.

What do Interiors & More’s balance sheet and cash flow show?

Interiors & More reported total consolidated assets and liabilities of Rs 172.37 crore at 30 September 2026, compared with Rs 151.71 crore at 31 March 2026. Inventories increased to Rs 79.56 crore from Rs 61.43 crore, while trade receivables rose to Rs 22.69 crore from Rs 18.78 crore over the six-month period.

Property, plant and equipment increased to Rs 53.20 crore at 30 September from Rs 21.44 crore at 31 March. Capital work-in-progress, recorded at Rs 29.81 crore at 31 March, was shown as nil at 30 September. The consolidated cash-flow statement records Rs 3.34 crore of cash used for purchases or sales of property, plant, equipment and capital work-in-progress in the September half.

Short-term borrowings rose to Rs 35.53 crore from Rs 28.80 crore, and long-term borrowings increased to Rs 32.43 crore from Rs 27.55 crore. The balance sheet also recorded Rs 6.95 crore as money received against share warrants at 30 September 2026, while the consolidated cash-flow statement classified Rs 6.95 crore as proceeds from the issue of share warrants.

Cash and cash equivalents fell to Rs 1.29 crore at 30 September from Rs 4.64 crore at 31 March. Operating activities used Rs 15.59 crore in the six months ended 30 September 2026, following working-capital movements including a Rs 18.13 crore inventory increase and a Rs 3.91 crore receivables increase. Financing activities generated Rs 15.49 crore, including Rs 6.74 crore of net short-term borrowings and Rs 4.88 crore of net long-term borrowings.

What did the review report say about Interiors & More’s subsidiary?

The limited-review report covered Interiors & More and its wholly owned Sharjah, United Arab Emirates subsidiary, INTERIORS & MORE LIMITED LLC SP, for the period from 1 April 2026 to 30 September 2026. Jay Gupta & Associates said nothing had come to its attention to indicate that the unaudited consolidated results did not make the required disclosures or contained a material misstatement.

For the six months ended 30 September 2026, the review was not an audit opinion. The auditor said a review provides moderate assurance and consists primarily of inquiries and analytical procedures. It also stated that the subsidiary’s interim financial information had not been reviewed by the auditor and was prepared by subsidiary management.

For the six-month subsidiary period, the filing reports total assets of AED 1,515,004, total revenue of AED 1,187,376 and net profit of AED 38,907. The auditor did not modify its conclusion in respect of its reliance on that subsidiary information. Interiors & More also noted that closing balances for trade receivables, trade payables and loans and advances remain subject to balance confirmations.

Conclusion

Interiors & More’s September 2026 half-year filing shows revenue from operations rising by Rs 13.22 crore year on year to Rs 35.53 crore, while consolidated profit after tax increased by Rs 1.22 crore to Rs 4.32 crore. Material consumption, employee benefits and finance costs all increased, while total expenses rose by Rs 11.73 crore.

The next point to watch is confirmation of closing trade receivable, trade payable and loan-and-advance balances, which the filing says remain subject to confirmation. The September 2026 balance sheet also showed inventories of Rs 79.56 crore, borrowings of Rs 67.96 crore and an operating cash outflow of Rs 15.59 crore for the first half.