Kings Infra Q2 profit drops 41% as revenue falls 37% year on year

Kings Infra Ventures Limited reported consolidated profit of Rs 2.49 crore for the quarter ended 30 September 2026, down 41% from Rs 4.24 crore a year earlier, as revenue from operations declined 37% to Rs 27.33 crore. First-half operating cash flow was negative Rs 14.50 crore as receivables and inventories increased.

How did Kings Infra perform in Q2 ended September 2026?

Kings Infra's consolidated revenue from operations was Rs 27.33 crore in the quarter ended 30 September 2026, compared with Rs 43.13 crore in the quarter ended 30 September 2025. Total income declined to Rs 29.55 crore from Rs 43.45 crore, with other income rising to Rs 2.22 crore from Rs 31.79 lakh.

Profit before tax fell to Rs 3.12 crore from Rs 5.77 crore in the corresponding quarter a year earlier. After current tax of Rs 62.46 lakh and deferred tax of Rs 3,000, profit for the period was Rs 2.49 crore, versus Rs 4.24 crore in the prior-year quarter. Basic and diluted earnings per equity share were Rs 1.02, against Rs 1.73 a year earlier.

What changed in Kings Infra's costs and quarterly profitability?

Kings Infra's total expenses decreased to Rs 26.43 crore in the September 2026 quarter from Rs 37.68 crore a year earlier, while revenue from operations declined by Rs 15.80 crore. Cost of materials consumed was Rs 24.48 crore, compared with Rs 36.71 crore, and other expenses were Rs 1.18 crore compared with Rs 1.37 crore.

Finance cost moved in the opposite direction, increasing to Rs 2.00 crore from Rs 1.78 crore in the year-earlier quarter. Depreciation and amortisation declined to Rs 26.30 lakh from Rs 40.86 lakh, while employee benefits expense was Rs 35.53 lakh compared with Rs 34.09 lakh. Profit before tax consequently declined by Rs 2.65 crore.

Compared with the quarter ended 30 June 2026, revenue from operations decreased by Rs 3.12 crore from Rs 30.45 crore. However, profit for the period increased by Rs 33.90 lakh from Rs 2.16 crore, while other income rose from Rs 1.48 lakh to Rs 2.22 crore. The sequential profit increase therefore occurred alongside lower operating revenue.

What did Kings Infra report for the first half of 2026-27?

Kings Infra reported revenue from operations of Rs 57.78 crore for the half year ended 30 September 2026, down from Rs 77.26 crore in the half year ended 30 September 2025. Profit for the six-month period was Rs 4.65 crore, compared with Rs 7.82 crore in the prior-year half year, while profit before tax declined to Rs 6.07 crore from Rs 10.63 crore.

The first-half comparison shows finance cost increasing to Rs 3.87 crore from Rs 3.47 crore, even as depreciation and amortisation declined to Rs 56.58 lakh from Rs 87.29 lakh. Total expenses were Rs 53.95 crore, compared with Rs 67.03 crore a year earlier. Revenue fell by Rs 19.48 crore, while total expenses reduced by Rs 13.08 crore.

Why did Kings Infra report negative operating cash flow?

Kings Infra reported net cash used in operating activities of Rs 14.50 crore for the half year ended 30 September 2026. The cash-flow statement records a Rs 17.86 crore increase in trade receivables, a Rs 3.60 crore increase in inventories and a Rs 1.81 crore increase in other current assets, partly offset by a Rs 89.40 lakh increase in trade payables.

Cash generated from operations was negative Rs 14.77 crore, despite profit before tax of Rs 6.07 crore for the same six months. Investing activities generated Rs 1.01 crore, including Rs 4.27 crore of proceeds from sale of property, plant and equipment, while financing activities provided Rs 62.70 lakh. Cash and cash equivalents fell to Rs 51.15 lakh at 30 September 2026 from Rs 13.37 crore at 31 March 2026.

The balance sheet reflects the working-capital movements reported in the cash-flow statement. Trade receivables stood at Rs 66.47 crore at 30 September 2026, up from Rs 48.61 crore at 31 March 2026, and inventories increased to Rs 48.25 crore from Rs 44.65 crore. Current borrowings rose to Rs 54.79 crore from Rs 47.26 crore, while non-current borrowings declined to Rs 28.05 crore from Rs 31.20 crore.

Which business and geographic lines accounted for Kings Infra's revenue?

Kings Infra identifies Infrastructure and Aquaculture (Export Facilities) as its reportable business segments. The segment statement reports Aquaculture (Export Facilities) revenue of Rs 27.33 crore for the September 2026 quarter and segment result before interest and tax of Rs 5.11 crore, compared with revenue of Rs 43.13 crore and segment result of Rs 7.52 crore a year earlier.

The segment table does not show a separately quantified Infrastructure revenue or result line for the September 2026 quarter, while total operating revenue matches the Aquaculture (Export Facilities) figure. Aquaculture capital employed was Rs 81.85 crore at 30 September 2026, compared with Rs 63.92 crore a year earlier. Infrastructure capital employed was Rs 16.67 crore, versus Rs 21.88 crore at 30 September 2025.

Revenue from customers in India was Rs 22.64 crore in the September 2026 quarter, compared with Rs 30.15 crore a year earlier. Revenue from customers outside India was Rs 4.69 crore, down from Rs 12.98 crore. Overseas revenue therefore declined by Rs 8.29 crore, while India-based customer revenue decreased by Rs 7.51 crore.

Conclusion

Kings Infra's September 2026 quarter combined lower revenue, lower profit and higher finance cost. Consolidated profit declined 41% year on year to Rs 2.49 crore, while the half year recorded Rs 14.50 crore of operating cash outflow as receivables and inventories increased. The reported segment figures place the operating revenue in Aquaculture (Export Facilities), with both Indian and overseas customer revenue lower than a year earlier.

The key unresolved matters disclosed in the results are whether receivables of Rs 66.47 crore and inventories of Rs 48.25 crore at 30 September 2026 convert into operating cash, and whether finance cost changes from the Rs 3.87 crore recorded in the first half. Kings Infra did not disclose a revenue target, earnings target or operational recovery plan in the filing.