Naturite Agro September revenue falls 98% to Rs 26.20 lakh

Naturite Agro Products Limited reported income from operations of Rs 26.20 lakh for the quarter ended September 30, 2026, down 98% from Rs 12.19 crore a year earlier, while net profit fell to Rs 5.55 lakh from Rs 69.60 lakh. A Rs 7.05 crore inventory movement offset most of the quarter’s material-consumption expense.

How did Naturite Agro’s September-quarter revenue change?

Naturite Agro’s income from operations fell to Rs 26.20 lakh in the quarter ended September 30, 2026, from Rs 12.19 crore in the quarter ended September 30, 2025. The decline was about 98% year on year. Other income was nil in the latest quarter, compared with Rs 0.49 lakh in the prior-year quarter, taking total income to Rs 26.20 lakh from Rs 12.19 crore.

The September-quarter revenue was also lower than the immediately preceding June 2026 quarter, when income from operations was Rs 2.08 crore. Total income in June was Rs 2.09 crore, including Rs 0.28 lakh of other income. This means quarterly income contracted by about 87% sequentially from June to September, based on the reported figures.

For the half year ended September 30, 2026, income from operations was Rs 2.34 crore, compared with Rs 21.45 crore in the corresponding half year of 2025. Other income brought half-year total income to Rs 2.35 crore, versus Rs 21.45 crore a year before. The reported half-year income decline was therefore about 89% year on year.

What happened to Naturite Agro’s September-quarter profit?

Naturite Agro remained profitable in the September 2026 quarter, but profit before tax declined to Rs 5.55 lakh from Rs 87.11 lakh a year earlier. As the company reported no current or deferred tax expense for the latest quarter, net profit also stood at Rs 5.55 lakh. In September 2025, deferred tax of Rs 17.51 lakh reduced net profit to Rs 69.60 lakh.

The latest quarterly profit was higher than Rs 3.49 lakh recorded in the June 2026 quarter, despite the sharp sequential reduction in total income from Rs 2.09 crore to Rs 26.20 lakh. For the first half of financial year 2026-27, profit before tax was Rs 9.04 lakh, down from Rs 88.90 lakh in the comparable 2025 period, while net profit fell from Rs 71.39 lakh to Rs 9.04 lakh.

Basic and diluted earnings per share were Rs 0.05 for the September 2026 quarter, against Rs 0.66 a year earlier. Half-year earnings per share were Rs 0.09, versus Rs 0.67 in the prior-year half. Naturite Agro said comparative earnings-per-share figures were retrospectively adjusted for the share subdivision effective from the September 25, 2026 record date.

How did inventory movements affect Naturite Agro’s expenses?

Naturite Agro reported material consumed of Rs 6.63 crore in the September 2026 quarter, compared with Rs 9.64 crore a year earlier. However, changes in inventories were reported as negative Rs 7.05 crore, compared with a positive Rs 89.90 lakh expense in September 2025. That negative inventory movement was larger than the material-consumption charge and materially reduced total reported expenses.

As a result, total expenses were Rs 20.66 lakh in the latest quarter, down from Rs 11.32 crore in the year-earlier quarter. Employee-benefit expense was Rs 21.96 lakh, compared with Rs 22.16 lakh, while other expenses declined to Rs 34.76 lakh from Rs 48.97 lakh. Finance cost was Rs 3.94 lakh, versus Rs 4.18 lakh in the previous September quarter.

The same mechanism appeared in the six-month numbers. Material consumed rose to Rs 15.75 crore for the half year ended September 2026 from Rs 14.54 crore a year earlier, but inventory changes were negative Rs 14.89 crore rather than a positive Rs 4.71 crore expense. This produced total half-year expenses of Rs 2.26 crore, compared with Rs 20.57 crore in the corresponding prior-year period.

What do Naturite Agro’s cash flow and balance sheet show?

Naturite Agro reported net cash used in operating activities of Rs 10.25 crore for the period ended September 30, 2026, compared with net cash generated from operations of Rs 5.41 crore in the year ended March 31, 2026. The cash-flow statement recorded a Rs 14.41 crore increase in inventories during the six-month period, while trade receivables decreased by Rs 5.00 crore.

Inventories on the balance sheet increased to Rs 20.82 crore at September 30, 2026, from Rs 6.41 crore at March 31, 2026. Trade receivables declined to Rs 1.08 crore from Rs 6.08 crore over the same period. Cash and cash equivalents fell to Rs 1.26 lakh from Rs 15.83 lakh, comprising Rs 0.61 lakh in cash on hand and Rs 0.65 lakh in current-account balances.

Current borrowings rose to Rs 19.06 crore at September 30 from Rs 8.89 crore at March 31. The cash-flow statement recorded a Rs 10.17 crore increase in borrowings, which generated Rs 10.10 crore of financing cash after Rs 7.05 lakh of interest paid. Total equity was Rs 9.96 crore at September 30, compared with Rs 9.87 crore at the March 2026 year-end.

What did the board and auditor say about the results?

Naturite Agro’s board took the unaudited September-quarter and half-year financial statements on record at its November 13, 2026 meeting. The meeting began at 8:15 p.m. and concluded at 8:45 p.m. The company said it operates in a single segment, so the filing does not provide revenue or profit by product category.

M.N. Rao & Associates LLP issued a limited-review report dated November 13, 2026 on the interim results. The auditor said nothing had come to its attention to indicate that the statement failed to disclose information required under Regulation 33 of the Securities and Exchange Board of India listing regulations or contained a material misstatement. The review was conducted under Standard on Review Engagements 2410 and was not an audit opinion.

Naturite Agro’s board had approved a subdivision on August 7, 2026, under which one Rs 10 equity share was split into two Rs 5 shares. Paid-up equity share capital remained Rs 5.30 crore at September 30, 2026. The company stated that the earnings-per-share calculations reflect the subdivision under Indian Accounting Standard 33.

Conclusion

Naturite Agro’s September-quarter statement shows a steep reduction in reported income, with revenue falling to Rs 26.20 lakh from Rs 12.19 crore a year earlier and net profit declining to Rs 5.55 lakh from Rs 69.60 lakh. The company nevertheless reported a positive profit because a negative Rs 7.05 crore inventory change reduced expenses below the Rs 26.20 lakh of total income.

The next reported results will show whether revenue recovers from the Rs 2.34 crore recorded in the first half of financial year 2026-27 and how inventory develops after reaching Rs 20.82 crore at September 30. Investors can also monitor current borrowings, which increased to Rs 19.06 crore, and cash and cash equivalents, which stood at Rs 1.26 lakh at the half-year end.