NAPS Global India posts Rs 2.2592 crore first-half profit

NAPS Global India Limited reported unaudited consolidated profit of Rs 2.2592 crore for the half year ended September 30, 2026, on revenue from operations of Rs 73.3565 crore; Rs 1.9385 crore was attributable to owners and Rs 32.07 lakh to non-controlling interests.

What did NAPS Global India report for the September half year?

NAPS Global India reported total income of Rs 73.788 crore and profit before tax of Rs 3.0434 crore for the half year ended September 30, 2026. Tax expense totalled Rs 79.59 lakh, comprising current tax of Rs 78.78 lakh, short or excess income tax of Rs 58,000 and deferred-tax expense of Rs 23,000, resulting in profit after tax of Rs 2.2592 crore.

NAPS Global India allocated Rs 1.9385 crore of the half-year profit to owners and Rs 32.07 lakh to non-controlling interests. Paid-up equity share capital was Rs 4.43 crore, based on a face value of Rs 10 per share, while both basic and diluted earnings per share were Rs 4.38 for the September 2026 half year.

The September-half profit of Rs 2.2592 crore exceeded the Rs 1.5862 crore reported for the full year ended March 31, 2026, although the periods are not like for like. NAPS Global India said it prepared consolidated financial statements for the first time effective from the year ended March 31, 2026, so consolidated figures for the half year ended September 30, 2025 were unavailable and not required under Accounting Standard 21.

Which subsidiaries were included in NAPS Global India’s accounts?

NAPS Global India’s consolidated accounts included Mercaze Private Limited, Purple Impex India Private Limited and Naps Global HK Limited as of September 30, 2026. The auditor’s limited review report dated November 5, 2026 identified Mercaze and Purple Impex as subsidiaries and Naps Global HK as a wholly owned subsidiary.

Mercaze became a subsidiary on December 30, 2025 after NAPS Global India acquired 10,00,000 shares representing a 90.91% holding for cash consideration of Rs 1 crore. Purple Impex became a subsidiary on December 29, 2025 for cash consideration of Rs 1.50 crore, although the filing does not state the ownership percentage acquired in that company.

Naps Global HK had been a 100% subsidiary from its incorporation date of March 13, 2026. NAPS Global India said Reserve Bank of India approval was obtained and the required share-subscription amount was consummated on August 13, 2026, with Naps Global HK consequently becoming a subsidiary as of September 30, 2026.

The profit allocated to non-controlling interests increased to Rs 32.07 lakh in the September 2026 half year from Rs 4.60 lakh in the year ended March 2026. Non-controlling interest on the balance sheet also rose to Rs 96.13 lakh at September 30 from Rs 64.06 lakh at March 31, while profit attributable to owners was Rs 1.9385 crore versus Rs 1.5402 crore for the prior full year.

How did NAPS Global India’s costs and profit change?

NAPS Global India recorded total expenses of Rs 70.7446 crore against operating revenue of Rs 73.3565 crore in the half year ended September 30, 2026. Purchases of stock-in-trade were the largest expense at Rs 70.503 crore, while employee benefit expenses were Rs 1.1848 crore, other expenses were Rs 1.1273 crore and finance costs were Rs 30.95 lakh.

Changes in inventories reduced expenses by Rs 2.45 crore in the September half year, compared with an addition of Rs 1.3792 crore to expenses in the year ended March 31, 2026. Employee benefit expenses rose from Rs 76.73 lakh in that full year, whereas other expenses declined from Rs 1.4046 crore.

Finance cost increased to Rs 30.95 lakh for the September half year from Rs 7.01 lakh for the year ended March 2026. At September 30, long-term borrowings stood at Rs 3.8583 crore versus Rs 44.61 lakh at March 31, and short-term borrowings were Rs 1.6873 crore compared with Rs 90,000.

NAPS Global India identified manufacturing and trading of garments and fabrics as its single reportable business segment. It therefore did not provide a manufacturing-versus-trading revenue or profit split under Accounting Standard 17, meaning the Rs 73.3565 crore of operating revenue cannot be allocated between those activities from this filing.

What do NAPS Global India’s balance sheet and cash flow show?

NAPS Global India reported total consolidated assets of Rs 41.9155 crore at September 30, 2026, compared with Rs 37.2289 crore at March 31. Current assets rose to Rs 41.2512 crore from Rs 36.5705 crore, while reserves and surplus increased to Rs 15.9812 crore from Rs 14.0426 crore.

Inventory rose to Rs 7.5739 crore from Rs 5.1259 crore, and trade receivables increased to Rs 24.7424 crore from Rs 23.1128 crore. Short-term loans and advances increased to Rs 5.5545 crore from Rs 1.6657 crore, while current investments rose to Rs 3.20 crore from Rs 3 crore.

Cash and bank balances declined to Rs 16.75 lakh at September 30 from Rs 3.6386 crore at March 31. The consolidated cash-flow statement showed net cash used in operating activities of Rs 8.1634 crore, following increases of Rs 1.6296 crore in trade receivables, Rs 2.448 crore in inventories and Rs 3.8888 crore in short-term loans and advances.

Financing activities generated Rs 4.7809 crore during the half year, including Rs 3.4122 crore of long-term borrowing proceeds and Rs 1.6783 crore of short-term borrowing proceeds. Investing activities used Rs 8.86 lakh, including a Rs 20 lakh investment in fixed deposits, and net cash flow for the period was an outflow of Rs 3.4711 crore.

What did the board approval and limited review cover?

NAPS Global India said its audit committee reviewed and its board approved the September 2026 results at their respective meetings on November 5, 2026. The company said its statutory auditor carried out a limited review and expressed an unmodified opinion on the financial results.

The independent auditor, D S M R & CO, stated in its November 5, 2026 report that a limited review provides moderate assurance and is substantially less extensive than an audit. NAPS Global India also reported no investor complaints pending as of September 30, 2026, when total consolidated liabilities and equity were Rs 41.9155 crore.

Conclusion

NAPS Global India’s September 2026 half-year statement provides a consolidated view of a group that includes three subsidiaries, reporting Rs 2.2592 crore of profit on Rs 73.3565 crore of operating revenue. The split of Rs 1.9385 crore for owners and Rs 32.07 lakh for non-controlling interests shows the portion of earnings not attributable to the parent’s shareholders.

The next disclosure can clarify whether the Rs 8.1634 crore operating cash outflow changes as receivables, inventory and short-term advances move after September 30, 2026. It can also provide a further reporting-period view of Naps Global HK, whose share subscription was completed on August 13, 2026 and whose subsidiary status was recorded at September 30, 2026.