Ludlow Jute revenue rises 55% in September 2026 quarter

Ludlow Jute & Specialities Limited reported standalone revenue from operations of Rs 209.64 crore for the quarter ended September 30, 2026, a 55% increase from Rs 135.15 crore a year earlier, including Rs 3.51 crore from price revisions on jute bags sold in earlier years. Standalone profit after tax rose to Rs 11.29 crore from Rs 6.86 crore.

What drove Ludlow Jute’s September-quarter revenue increase?

Ludlow Jute’s September-quarter revenue rose to Rs 209.64 crore from Rs 135.15 crore in the quarter ended September 30, 2025, while revenue was Rs 189.47 crore in the preceding June 2026 quarter. The company said Rs 3.51 crore of the September-quarter and half-year revenue related to price revisions for jute bags sold in earlier years.

The Rs 3.51 crore recognition followed Gazette Notifications issued by the Office of the Jute Commissioner on various dates during the half year ended September 30, 2026. Excluding that disclosed earlier-sales revision, September-quarter revenue would have been Rs 206.13 crore, although the filing does not provide separate data on volumes, selling prices or customers to explain the remaining year-on-year change.

How did Ludlow Jute’s September-quarter profit change?

Ludlow Jute reported standalone profit before tax of Rs 15.08 crore for the September 2026 quarter, compared with Rs 9.15 crore a year earlier and Rs 8.59 crore in June 2026. Profit after tax was Rs 11.29 crore, up from Rs 6.86 crore in September 2025 and Rs 6.43 crore in the preceding quarter.

Total expenses were Rs 194.75 crore, against Rs 126.44 crore in the September 2025 quarter and Rs 181.06 crore in the June 2026 quarter. Material consumed increased to Rs 137.01 crore from Rs 53.01 crore a year earlier, while changes in inventories reduced expenses by Rs 6.83 crore, compared with a Rs 3.78 crore reduction in the earlier-year quarter.

Employee benefits expense was Rs 21.41 crore, versus Rs 21.80 crore a year earlier, whereas finance costs rose to Rs 4.49 crore from Rs 3.50 crore. Depreciation and amortisation was Rs 1.97 crore, other expenses were Rs 26.70 crore, and tax expense totalled Rs 3.79 crore, comprising Rs 3.67 crore of current tax and Rs 0.12 crore of deferred tax.

What did Ludlow Jute report for the first half?

Ludlow Jute recorded standalone revenue from operations of Rs 399.11 crore for the half year ended September 30, 2026, compared with Rs 318.18 crore in the corresponding half of 2025. The company included the same Rs 3.51 crore earlier-sales price revision in the six-month revenue figure that it disclosed for the September quarter.

First-half profit before tax increased to Rs 23.67 crore from Rs 15.46 crore, while profit after tax rose to Rs 17.72 crore from Rs 11.35 crore. Total expenses were Rs 375.81 crore for the 2026 half year, compared with Rs 233.26 crore in the corresponding 2025 period.

Ludlow Jute reported one product segment, manufacturing and sale of jute goods, under Indian Accounting Standard 108 on segment reporting. Consequently, the results do not split the Rs 399.11 crore first-half revenue or Rs 17.72 crore first-half profit after tax between different jute products or customer categories.

How did Ludlow Jute’s financial position change by September?

Ludlow Jute’s total assets stood at Rs 497.37 crore on September 30, 2026, compared with Rs 452.28 crore on March 31, 2026. Property, plant and equipment increased to Rs 227.52 crore from Rs 212.13 crore, while capital work-in-progress declined to Rs 6.22 crore from Rs 7.83 crore.

Current assets increased to Rs 258.61 crore from Rs 230.43 crore over the same period. Inventories rose to Rs 159.37 crore from Rs 149.51 crore, trade receivables increased to Rs 65.80 crore from Rs 54.53 crore, and cash and cash equivalents were Rs 0.58 crore, compared with Rs 0.12 crore at March-end.

Total equity increased to Rs 204.37 crore from Rs 186.18 crore, including other equity of Rs 193.57 crore at September 30, 2026. Non-current borrowings rose by Rs 14.92 crore and current borrowings rose by Rs 14.02 crore, while first-half finance costs increased to Rs 8.71 crore from Rs 7.13 crore in the year-earlier half.

Are Ludlow Jute’s consolidated results different from standalone results?

Ludlow Jute reported consolidated revenue from operations of Rs 209.64 crore for the September 2026 quarter, the same as its standalone revenue. Consolidated profit after tax was Rs 11.27 crore, Rs 0.02 crore below standalone profit after tax of Rs 11.29 crore.

The difference reflected Seva by Tara Foundation, which became a wholly owned subsidiary on July 14, 2026. The subsidiary reported nil revenue and a net loss of Rs 2.38 lakh for the September quarter; the consolidated auditor said its interim financial statements had not been reviewed by its auditor and were not material to the group.

Consolidated profit before tax was Rs 15.06 crore, compared with standalone profit before tax of Rs 15.08 crore. Consolidated basic earnings per share, which measures profit attributable to each equity share, were Rs 10.44 for the quarter, compared with standalone basic earnings per share of Rs 10.35.

Conclusion

Ludlow Jute’s September-quarter results showed revenue growth to Rs 209.64 crore and profit after tax growth to Rs 11.29 crore, with Rs 3.51 crore of revenue arising from notified revisions to prices on jute bags sold in earlier years. The filing identifies that non-current-period item but does not disclose its separate cost or tax effect, so it does not permit a separately adjusted profit calculation.

The next result will show whether any further price-revision recognition occurs after the Rs 3.51 crore booked in the first half ended September 30, 2026. Readers can also track the movement in inventories of Rs 159.37 crore, receivables of Rs 65.80 crore and total borrowings of Rs 242.46 crore reported at September-end.