Paramount Syntex revenue rises 29%, but half-year profit falls

Paramount Syntex Limited reported revenue from operations of Rs 51.04 crore for the half year ended September 30, 2026, up 29% from Rs 39.66 crore a year earlier, while profit after tax fell to Rs 6.35 crore from Rs 7.51 crore as reported profit before tax declined to Rs 8.95 crore.

Why did Paramount Syntex’s half-year profit fall despite higher revenue?

Paramount Syntex’s profit after tax declined by Rs 1.16 crore year on year, even as revenue from operations increased by Rs 11.38 crore in the half year ended September 30, 2026. Profit before tax was Rs 8.95 crore, compared with Rs 10.39 crore in the half year ended September 30, 2025, a decline of Rs 1.44 crore.

The filing does not provide management commentary attributing the lower profit to a particular cost item or operating event. It reports purchase of stock in trade and raw material of Rs 39.89 crore, manufacturing expenses of Rs 4.97 crore, employee-benefit expense of Rs 1.40 crore, finance costs of Rs 1.25 crore and depreciation and amortisation of Rs 95.37 lakh for September 2026.

The latest statement also records a Rs 7.02 crore change in inventories as a negative expense, compared with a negative Rs 1.30 crore in the September 2025 comparative period. Total expenses were reported at Rs 42.19 crore for September 2026, while the company reported profit before tax of Rs 8.95 crore; the filing contains no separate explanation of the year-on-year movement between revenue growth and pre-tax profit.

Tax expense was Rs 2.60 crore in the latest half year, down from Rs 2.88 crore a year earlier. September 2026 tax comprised current tax of Rs 2.43 crore and deferred-tax charge of Rs 16.98 lakh, whereas the September 2025 comparative included Rs 2.11 crore of current tax, Rs 22.47 lakh of deferred tax and Rs 34.99 lakh of previous-period tax.

How did Paramount Syntex compare with the preceding half year?

Paramount Syntex reported lower revenue than in the immediately preceding six months. Revenue from operations was Rs 51.04 crore in the half year ended September 30, 2026, compared with Rs 62.37 crore in the half year ended March 31, 2026, a reduction of Rs 11.32 crore between the reported periods.

Profit after tax was largely unchanged sequentially at Rs 6.35 crore in September 2026 and Rs 6.36 crore in March 2026. Profit before tax, however, rose by Rs 20.16 lakh to Rs 8.95 crore from Rs 8.75 crore, while total tax expense increased by Rs 20.76 lakh to Rs 2.60 crore from Rs 2.39 crore.

Other income was Rs 9.71 lakh in the September 2026 half year, compared with Rs 19.24 lakh in the March 2026 half year and Rs 29.11 lakh in the September 2025 half year. The September 2026 and September 2025 figures are labelled unaudited, while the March 2026 six-month figures are labelled audited in the results statement.

What do Paramount Syntex’s reported expenses and earnings per share show?

Paramount Syntex’s finance costs were Rs 1.25 crore in the September 2026 half year, down from Rs 1.58 crore in September 2025 and Rs 1.43 crore in March 2026. Depreciation and amortisation expense was Rs 95.37 lakh, against Rs 81.26 lakh a year earlier and Rs 1.25 crore in the preceding half year.

Manufacturing expenses were Rs 4.97 crore for September 2026, compared with Rs 4.92 crore in September 2025 and Rs 5.41 crore in March 2026. Employee-benefit expense was Rs 1.40 crore, versus Rs 1.44 crore a year earlier and Rs 2.21 crore in the preceding six months, based on the individual expense lines in the filing.

Basic and diluted earnings per share were Rs 5.31 for the latest half year and were stated as non-annualised. This compared with Rs 6.28 for the September 2025 half year and Rs 5.32 for the March 2026 half year, matching the year-on-year decline and sequentially stable level of reported profit after tax.

Paid-up equity share capital was Rs 11.96 crore as of September 30, 2026, unchanged from March 31, 2026. The filing does not disclose the number of weighted-average shares in a clearly readable figure, but it reports the same Rs 5.31 amount for both basic and diluted earnings per share.

What changed in Paramount Syntex’s balance sheet by September 2026?

Paramount Syntex reported total assets of Rs 131.09 crore at September 30, 2026, compared with Rs 96.26 crore at March 31, 2026. Current assets rose to Rs 115.91 crore from Rs 81.30 crore, while non-current assets decreased to Rs 15.18 crore from Rs 15.86 crore.

Trade receivables increased to Rs 48.36 crore at September 30 from Rs 41.34 crore at March 31, a rise of Rs 7.02 crore. Inventory rose to Rs 15.18 crore from Rs 14.96 crore, while loans and advances increased to Rs 58.39 crore from Rs 25.40 crore over the same six-month balance-sheet comparison.

Cash and cash equivalents were Rs 57.52 lakh at September 30, 2026, compared with Rs 30.77 lakh at the March 2026 year end. Other current assets declined to Rs 93.59 lakh from Rs 1.22 crore, according to the statement of assets and liabilities.

Total equity increased to Rs 48.58 crore at September 30, 2026 from Rs 42.67 crore at March 31, 2026. Non-current liabilities were Rs 19.87 crore versus Rs 6.59 crore, while current liabilities increased to Rs 62.64 crore from Rs 47.00 crore.

What did Paramount Syntex report on cash flow and board approval?

Paramount Syntex reported net cash used in operating activities of Rs 10.35 crore for the half year ended September 30, 2026. Net cash used in investing activities was Rs 1.94 crore, while net cash from financing activities was Rs 12.56 crore, resulting in a net increase in cash and cash equivalents of Rs 26.76 lakh.

The cash-flow statement records operating profit before working-capital changes of Rs 11.35 crore and income tax paid of Rs 2.44 crore for the September 2026 half year. It also shows a negative working-capital movement of Rs 19.26 crore, which was a material factor in the reported operating cash outflow.

Paramount Syntex’s board approved the unaudited results on November 14, 2026. The board meeting began at 5:30 pm and concluded at 6:45 pm, and the company said the filing included its unaudited profit-and-loss statement, statement of assets and liabilities, cash-flow statement and limited review report.

The November 14, 2026 announcement discloses no revenue target, profit target, capital-expenditure plan or forecast for a future period. It therefore reports the outcome for the half year ended September 30, 2026 without management guidance beyond that reporting date.

Conclusion

Paramount Syntex delivered a 29% year-on-year increase in September-half revenue to Rs 51.04 crore, but profit after tax declined 15% to Rs 6.35 crore as profit before tax fell to Rs 8.95 crore. Sequentially, revenue was lower than the Rs 62.37 crore reported in the March 2026 half year, while net profit remained close to Rs 6.36 crore.

The next financial results will show whether the September 2026 balance-sheet movements, including Rs 48.36 crore of trade receivables and Rs 58.39 crore of loans and advances, continue to expand. They will also clarify whether the Rs 10.35 crore operating cash outflow reverses after the working-capital movement reported for the latest half year.