Kalpa Commercial Q2 Revenue Doubles as Profit Falls to Rs 7.09 Lakh

Kalpa Commercial Limited reported revenue from operations of Rs 20.7223 crore for the quarter ended September 30, 2026, more than double Rs 9.755 crore in the preceding quarter, while net profit after tax fell to Rs 7.09 lakh from Rs 49.40 lakh. Total expenses increased faster than total income during the quarter.

What did Kalpa Commercial report for the September 2026 quarter?

Kalpa Commercial reported total income of Rs 21.1936 crore in the quarter ended September 30, 2026, compared with Rs 9.9645 crore in the quarter ended June 30, 2026. Revenue from operations accounted for Rs 20.7223 crore of the September-quarter total, while other income was Rs 47.13 lakh. Other income in the preceding quarter was Rs 20.95 lakh.

The latest quarter also exceeded the prior-year period. Revenue from operations was Rs 7.0025 crore in the quarter ended September 30, 2025, against Rs 20.7223 crore in the September 2026 quarter. Total income increased from Rs 7.0444 crore a year earlier to Rs 21.1936 crore, and the company presented the latest figures as unaudited standalone results.

Why did Kalpa Commercial’s profit fall despite higher revenue?

Kalpa Commercial’s profit after tax was Rs 7.09 lakh in the September 2026 quarter, down from Rs 49.40 lakh in the June 2026 quarter despite the rise in revenue. Profit before tax declined to Rs 9.45 lakh from Rs 65.86 lakh, while current tax expense fell to Rs 2.36 lakh from Rs 16.47 lakh.

Total expenses rose to Rs 21.0991 crore in the September quarter from Rs 9.3059 crore in the June quarter. That Rs 11.7932 crore increase was larger than the Rs 11.2291 crore increase in total income. Purchases of stock-in-trade rose to Rs 25.4708 crore from Rs 6.2209 crore, while the change in inventories became a Rs 4.6937 crore reduction in expenses, compared with an expense of Rs 2.6598 crore in the June quarter.

The September-quarter profit remained above the year-earlier level. Net profit was Rs 1.01 lakh in the quarter ended September 30, 2025, compared with Rs 7.09 lakh in the latest quarter. Profit before tax increased from Rs 1.34 lakh to Rs 9.45 lakh, while current tax increased from Rs 34,000 to Rs 2.36 lakh.

How did Kalpa Commercial perform in the first half?

Kalpa Commercial reported revenue from operations of Rs 30.4773 crore for the six months ended September 30, 2026, compared with Rs 12.9947 crore in the six months ended September 30, 2025. Total income for the latest half year was Rs 31.1581 crore, including Rs 68.08 lakh of other income, versus Rs 13.0366 crore a year earlier.

Net profit for the six-month period rose to Rs 56.48 lakh from Rs 15.75 lakh in the comparable prior-year period. Profit before tax increased to Rs 75.31 lakh from Rs 21.00 lakh, and current tax expense was Rs 18.83 lakh against Rs 5.25 lakh. The first-half result combines the Rs 7.09 lakh profit in the September quarter with the Rs 49.40 lakh profit in the June quarter.

Total expenses for the half year were Rs 30.405 crore, compared with Rs 12.8266 crore in the corresponding six months of 2025. Purchases of stock-in-trade were Rs 31.6917 crore versus Rs 12.7639 crore a year earlier, while inventory changes reduced expenses by Rs 2.0339 crore compared with a Rs 20.61 lakh reduction in the prior-year half. Basic and diluted earnings per share, or EPS, were Rs 0.55 for the six months, compared with Rs 0.15 a year earlier.

What did Kalpa Commercial’s limited review report say about confirmations?

Kalpa Commercial’s statutory auditor stated in its November 6, 2026 limited review report that nothing had come to its attention indicating that the unaudited results lacked required disclosures or contained a material misstatement, except for some confirmations of loans, sundry debtors and sundry creditors. The report did not quantify the balances for which confirmations were pending.

The auditor conducted the review under Standard on Review Engagements 2410, covering interim financial information reviewed by an entity’s independent auditor. It said the work primarily involves inquiries of company personnel and analytical procedures, providing less assurance than an audit. The auditor therefore said it had not performed an audit and did not express an audit opinion on the September 30, 2026 results.

What other disclosures accompanied Kalpa Commercial’s results?

Kalpa Commercial said its business falls within one segment, meaning separate reporting under Accounting Standard 17 on segment reporting was not applicable. It also reported no investor complaints received or pending as of September 30, 2026. Paid-up equity share capital was Rs 10.25 crore, and the face value of each equity share was Rs 10.

Kalpa Commercial said it had no subsidiary, associate or joint-venture entity for the reported period, so consolidated financial results were not applicable. The company is assessing the potential effect of the Labour Codes notified by the Government of India on November 21, 2025, pending final rules and their effective dates. Management said it did not foresee a material impact on financial results based on information currently available.

Conclusion

Kalpa Commercial’s September 2026 quarter combined a sharp rise in revenue with lower sequential earnings. Revenue from operations rose to Rs 20.7223 crore from Rs 9.755 crore, but total expenses reached Rs 21.0991 crore and profit after tax fell to Rs 7.09 lakh from Rs 49.40 lakh. The six-month comparison was higher year on year, with net profit of Rs 56.48 lakh.

The next disclosed matters to watch are whether confirmations for loans, sundry debtors and sundry creditors are obtained, and whether the company provides values or further detail for those balances. Kalpa Commercial also plans to assess the Labour Codes’ financial effect after final central and state rules, effective dates and government clarifications are available.