Phyto Chem half-year loss widens to Rs 1.2481 crore as revenue falls

Phyto Chem (India) Limited reported a net loss of Rs 1.2481 crore for the half year ended September 30, 2026, versus Rs 1.0420 crore a year earlier, as revenue from operations fell 74.3% to Rs 1.5076 crore from Rs 5.8677 crore. The board approved the unaudited standalone results on November 14, 2026.

Why did Phyto Chem's half-year loss widen?

Phyto Chem's net loss widened by Rs 20.61 lakh, or 19.8%, in the half year ended September 30, 2026. Loss before tax was Rs 1.2883 crore, compared with Rs 1.0980 crore in the corresponding 2025 half year, while the statement recorded no exceptional or extraordinary items in either period.

The difference between pre-tax and post-tax loss reflected a deferred-tax credit of Rs 4.02 lakh in the latest half year, against a Rs 5.60 lakh credit a year earlier; current tax was nil in both periods. Total comprehensive loss was Rs 1.2508 crore in the latest half year, compared with Rs 1.0307 crore in the prior-year period.

The September 2026 quarter was less loss-making than both the June 2026 and September 2025 quarters. Net loss was Rs 34.34 lakh for the quarter ended September 30, 2026, compared with Rs 90.47 lakh in the preceding quarter and Rs 55.75 lakh a year earlier. Basic and diluted loss per share for the half year was Rs 2.90, against Rs 2.42 in the corresponding 2025 half year.

How far did Phyto Chem's operating revenue decline?

Phyto Chem's revenue from operations fell by Rs 4.3601 crore year on year to Rs 1.5076 crore in the half year ended September 30, 2026. The 74.3% reduction in operating revenue exceeded the Rs 20.61 lakh increase in net loss, showing that lower expenses only partly offset the fall in reported business revenue.

Other income declined to Rs 5.54 lakh from Rs 70.59 lakh, taking total revenue to Rs 1.5630 crore from Rs 6.5736 crore. The latest half-year total therefore included Rs 5.54 lakh of other income, compared with Rs 70.59 lakh in the prior-year period.

For the September 2026 quarter, revenue from operations was Rs 1.4822 crore, versus Rs 4.3645 crore in the September 2025 quarter. Other income was Rs 2 lakh, against Rs 31.01 lakh a year earlier, resulting in total revenue of Rs 1.5022 crore compared with Rs 4.6746 crore.

What changed in Phyto Chem's costs during the half year?

Phyto Chem's total expenses declined to Rs 2.8513 crore in the half year ended September 30, 2026 from Rs 7.6716 crore a year earlier. Expenses nevertheless exceeded total revenue of Rs 1.5630 crore by Rs 1.2883 crore, which was the reported loss before tax because exceptional and extraordinary items were nil.

Raw-material consumption fell to Rs 1.4082 crore from Rs 5.4999 crore, accounting for most of the Rs 4.8203 crore decline in total expenses. Changes in inventories were negative Rs 36.98 lakh, compared with a positive Rs 12.36 lakh in the previous corresponding period. Employee-benefit expense fell to Rs 54.09 lakh from Rs 68.42 lakh, and other expenses declined to Rs 38.77 lakh from Rs 51.98 lakh.

Finance costs moved in the opposite direction, rising to Rs 71.33 lakh from Rs 67.38 lakh. Depreciation and amortisation was broadly unchanged at Rs 17.10 lakh, compared with Rs 17.03 lakh. Together, these two charges were Rs 88.43 lakh in the latest half year, against Rs 84.41 lakh in the prior-year period.

What do Phyto Chem's balance sheet and cash flows show?

Phyto Chem reported total assets of Rs 28.8048 crore at September 30, 2026, up from Rs 28.0529 crore at March 31, 2026. Current assets increased to Rs 26.0581 crore from Rs 25.1467 crore as trade receivables rose to Rs 17.3887 crore from Rs 16.3910 crore, while inventories edged down to Rs 8.2333 crore from Rs 8.2784 crore.

Cash and cash equivalents were Rs 1.62 lakh at September 30, 2026, compared with Rs 2.37 lakh at March 31, 2026. Property, plant and equipment declined to Rs 1.8735 crore from Rs 2.0655 crore, while deferred-tax assets increased to Rs 69.77 lakh from Rs 65.67 lakh.

Equity was Rs 3.3190 crore at September 30, 2026, compared with Rs 4.5695 crore at March 31, 2026. Paid-up equity share capital was unchanged at Rs 4.3002 crore, while other equity was negative Rs 98.12 lakh versus positive Rs 26.93 lakh at the March year-end. Total liabilities were Rs 25.4858 crore, compared with Rs 23.4834 crore, and current borrowings were Rs 20.0812 crore against Rs 20.4190 crore.

The cash-flow statement reported Rs 76.41 lakh of net cash from operating activities for the half year ended September 30, 2026, alongside Rs 5.83 lakh from investing activities and Rs 82.99 lakh used in financing activities. Net cash and cash equivalents decreased by Rs 75,000 from the Rs 2.37 lakh opening balance. The statutory auditor's November 14, 2026 limited-review report said nothing had come to its attention indicating that the unaudited statement contained a material misstatement.

Conclusion

Phyto Chem's September 2026 half-year figures combine a 74.3% fall in operating revenue with a 19.8% wider net loss. Expenses fell by Rs 4.8203 crore, chiefly because raw-material consumption declined, but total expenses of Rs 2.8513 crore still exceeded total revenue of Rs 1.5630 crore.

The filing does not disclose a revenue target, turnaround plan or date for the next results announcement. The next reporting update can be assessed for changes in operating revenue from Rs 1.4822 crore in the September 2026 quarter, as well as trade receivables of Rs 17.3887 crore, current borrowings of Rs 20.0812 crore and cash of Rs 1.62 lakh at September 30, 2026.