Orosil Smiths revenue falls 78% as September loss returns

Orosil Smiths India Limited reported operating revenue of Rs 18.68 lakh for the quarter ended September 30, 2026, down 78% from a year earlier, while a Rs 17.93 lakh tax expense turned Rs 14.94 lakh profit before tax into a Rs 2.99 lakh loss after tax.

How did Orosil Smiths perform in the September 2026 quarter?

Orosil Smiths reported revenue from operations of Rs 18.68 lakh in the quarter ended September 30, 2026, compared with Rs 84.85 lakh in the quarter ended September 30, 2025. The decline of Rs 66.17 lakh represents a 78% year-on-year contraction. Revenue also fell from Rs 44.12 lakh in the preceding quarter ended June 30, 2026, a sequential reduction of about 58%.

Other income was Rs 36.25 lakh in the September 2026 quarter, compared with Rs 27.17 lakh a year earlier and Rs 114.08 lakh in the June 2026 quarter. Total income was therefore Rs 54.93 lakh, down from Rs 112.02 lakh in September 2025 and Rs 158.20 lakh in June 2026. The financial results do not provide a line-item breakdown of the Rs 36.25 lakh other-income figure.

Why did Orosil Smiths report a loss after profit before tax?

Orosil Smiths reported a loss after tax because its Rs 17.93 lakh tax expense exceeded the Rs 14.94 lakh profit before tax in the September 2026 quarter. The tax charge included current tax of Rs 4.93 lakh and deferred tax of Rs 13 lakh. In the September 2025 quarter, Orosil Smiths reported a tax credit of Rs 0.20 lakh and profit after tax of Rs 23.83 lakh.

Total expenses declined to Rs 39.99 lakh from Rs 88.39 lakh a year earlier, but exceeded the Rs 18.68 lakh operating revenue in the latest quarter. Materials consumed amounted to Rs 36.94 lakh, employee-benefit expenses were Rs 12.80 lakh, depreciation and amortisation were Rs 3.04 lakh, and other expenses were Rs 8.20 lakh. A negative Rs 21.41 lakh change in inventories of finished goods and stock-in-trade reduced the total expense figure.

The sequential comparison shows the effect of lower other income. Total expenses fell by Rs 29.94 lakh from Rs 69.93 lakh in June 2026, but other income declined by Rs 77.83 lakh from Rs 114.08 lakh. Profit before tax consequently fell from Rs 88.27 lakh to Rs 14.94 lakh, while the after-tax result moved from a Rs 72.54 lakh profit to a Rs 2.99 lakh loss.

What do Orosil Smiths' half-year results show?

Orosil Smiths reported first-half revenue from operations of Rs 62.80 lakh for the half year ended September 30, 2026, compared with Rs 172.72 lakh in the prior-year half, a decline of about 64%. Other income rose to Rs 150.33 lakh from Rs 36.79 lakh, taking total income to Rs 213.13 lakh from Rs 209.51 lakh. Profit after tax increased to Rs 69.56 lakh from Rs 27.27 lakh.

Total expenses for the six months were Rs 109.92 lakh, down from Rs 182.64 lakh in the half year ended September 30, 2025. Profit before tax increased to Rs 103.21 lakh from Rs 26.87 lakh despite the lower operating revenue. Other income of Rs 150.33 lakh was higher than revenue from operations of Rs 62.80 lakh, showing that income outside operations was material to the reported half-year result.

Basic and diluted earnings per share were Rs 0.17 for the half year ended September 2026, compared with Rs 0.07 in the previous corresponding half. For the September quarter alone, both basic and diluted earnings per share were a loss of Rs 0.01, against earnings of Rs 0.06 in the September 2025 quarter. The results state a face value of Rs 1 per equity share.

What happened to Orosil Smiths' cash and balance sheet items?

Orosil Smiths used Rs 146.76 lakh in operating activities during the half year ended September 30, 2026, while investing activities used Rs 199.45 lakh and financing activities used Rs 4.49 lakh. Net cash and cash equivalents decreased by Rs 350.70 lakh over the six months. Cash and cash equivalents stood at Rs 96.07 lakh on September 30, 2026, compared with Rs 446.78 lakh at March 31, 2026.

The cash-flow statement recorded Rs 347.28 lakh used for sale or purchase of investments during the half year, alongside Rs 43.84 lakh of interest received and Rs 6.45 lakh of dividend received. Trade and other receivables increased by Rs 51.82 lakh, other assets increased by Rs 33.70 lakh, and inventories increased by Rs 29.81 lakh, as presented in the operating-cash-flow reconciliation.

Total assets were Rs 30.63 crore at September 30, 2026, compared with Rs 29.63 crore at March 31, 2026. Total equity was Rs 26.02 crore, up from Rs 25.32 crore, while total liabilities were Rs 4.62 crore. Inventories were Rs 3.71 crore and trade receivables were Rs 61.17 lakh at September 30, 2026, compared with Rs 3.41 crore and Rs 9.35 lakh respectively at March 31, 2026.

What did the review and company disclosures say?

Orosil Smiths' statutory auditor said that nothing had come to its attention to suggest that the September 30, 2026 standalone results were not prepared under the applicable accounting requirements or contained a material misstatement. The limited-review report was dated November 12, 2026 and was conducted under Standard on Review Engagement 2410, which the auditor said provides moderate assurance rather than an audit opinion.

Orosil Smiths' board approved the unaudited second-quarter and half-year results on November 12, 2026, after review by the audit committee. The company said it operates in a single segment, so segment reporting is not applicable under Indian Accounting Standard 108. It also reported no pending investor complaints as of September 30, 2026.

The filing states that the September-quarter figures are balancing figures derived from the unaudited half-year results and the published, reviewed June-quarter results. It also says comparative figures were recast, rearranged or reclassified where necessary to make them comparable. Orosil Smiths said the results would be published in newspapers under Regulation 47 of the Securities and Exchange Board of India listing regulations.

Conclusion

Orosil Smiths' September-quarter operating revenue fell to Rs 18.68 lakh from Rs 84.85 lakh a year earlier, and its Rs 36.25 lakh other income left profit before tax at Rs 14.94 lakh. The Rs 17.93 lakh tax expense, however, produced a Rs 2.99 lakh loss after tax. For the six-month period, profit after tax of Rs 69.56 lakh was reported alongside Rs 150.33 lakh of other income.

The next disclosed item is publication of the approved results in newspapers under Regulation 47. Subsequent financial disclosures will also show whether operating revenue changes from the Rs 62.80 lakh reported for the half year and whether cash, which fell to Rs 96.07 lakh at September 30, 2026, stabilises after the reported operating and investing outflows.