Prime Industries half-year profit rises to Rs 7.686 crore

Prime Industries Limited reported consolidated profit after tax of Rs 7.686 crore for the half year ended 30 September 2026, compared with Rs 6.544 crore a year earlier, despite revenue from operations declining to Rs 33.951 crore from Rs 35.575 crore. The unaudited results were dated 5 November 2026.

What did Prime Industries report for the half year?

Prime Industries reported a Rs 1.142 crore increase in consolidated profit after tax for the half year ended 30 September 2026. Profit after tax reached Rs 7.686 crore, versus Rs 6.544 crore for the half year ended 30 September 2025, while profit before tax increased to Rs 10.634 crore from Rs 6.903 crore.

Revenue from operations fell by Rs 1.624 crore to Rs 33.951 crore from Rs 35.575 crore in the corresponding prior-year half. Total expenses declined to Rs 24.144 crore from Rs 31.153 crore, a reduction of Rs 7.009 crore, while income-tax expense increased to Rs 2.993 crore from Rs 0.259 crore.

The second-quarter result accounted for most of the latest half-year profit. Revenue from operations was Rs 24.985 crore in the quarter ended 30 September 2026, compared with Rs 8.966 crore in the quarter ended 30 June 2026, while profit after tax was Rs 6.619 crore against Rs 1.067 crore.

Why did Prime Industries’ profit increase despite lower revenue?

Prime Industries’ reported profit before tax rose by Rs 3.731 crore because the Rs 7.009 crore decline in total expenses exceeded the Rs 1.624 crore reduction in revenue from operations. The filing does not provide a management explanation for the individual factors behind the change in the expense base between the two half-year periods.

The consolidated statement shows finance costs of Rs 0.928 crore for the half year ended 30 September 2026, compared with Rs 0.677 crore a year earlier. Depreciation and amortisation expense was Rs 0.377 crore, versus Rs 0.072 crore, while the higher tax expense of Rs 2.993 crore limited the increase in profit after tax relative to pre-tax profit.

Basic and diluted earnings per share were each Rs 2.06 for the half year ended 30 September 2026, compared with Rs 0.32 in the corresponding 2025 half year. The filing labels the half-year earnings-per-share figures as not annualised and reports equity share capital of Rs 10.538 crore at both reporting dates.

How did Prime Industries’ segment mix change?

Prime Industries reported manufacturing revenue of Rs 33.951 crore for the half year ended 30 September 2026, compared with Rs 31.906 crore in the corresponding 2025 period. The current-period segment schedule does not show revenue from investment or trading in securities and other activities, whereas that segment contributed Rs 4.769 crore in the prior-year half.

Manufacturing segment profit before exceptional items and tax rose to Rs 9.520 crore from Rs 6.203 crore in the previous-year half. The investment and trading segment reported profit of Rs 1.114 crore for the half year ended 30 September 2026, and the two segment results total the reported consolidated profit before tax of Rs 10.634 crore.

The filing presents different prior-period revenue totals in its income statement and segment schedule. The income statement reports Rs 35.575 crore of revenue from operations for the half year ended 30 September 2025, while the segment schedule shows Rs 36.675 crore, comprising Rs 31.906 crore of manufacturing and Rs 4.769 crore of investment and trading revenue; the notes cite regrouping, reclassification and rearrangement of comparative figures without explaining the difference.

What changed in Prime Industries’ financial position?

Prime Industries reported total assets of Rs 175.562 crore at 30 September 2026, compared with Rs 171.065 crore at 31 March 2026. Trade receivables increased to Rs 59.790 crore from Rs 37.018 crore, whereas inventories declined to Rs 18.542 crore from Rs 19.849 crore over the six months.

Equity attributable to Prime Industries’ owners increased to Rs 51.020 crore at 30 September 2026 from Rs 46.582 crore at 31 March 2026. Total equity, including non-controlling interests, was Rs 88.304 crore compared with Rs 73.739 crore, while total equity and liabilities equalled the reported asset total of Rs 175.562 crore.

Current borrowings declined to Rs 46.071 crore from Rs 73.080 crore at 31 March 2026, while non-current borrowings increased to Rs 4.420 crore from Rs 1.741 crore. Trade payables rose to Rs 27.890 crore from Rs 16.273 crore, and provisions increased to Rs 5.353 crore from Rs 2.393 crore.

Did Prime Industries generate operating cash during the half year?

Prime Industries used Rs 14.128 crore in operating activities during the half year ended 30 September 2026 despite reporting profit before tax of Rs 10.634 crore. The cash-flow statement records a Rs 22.772 crore increase in trade receivables and a Rs 14.733 crore increase in other financial assets during the period.

The increase in trade payables of Rs 11.617 crore and the Rs 1.307 crore reduction in inventories partly offset the working-capital outflows. Net cash used in financing activities was Rs 25.348 crore, including Rs 27.005 crore of repayment of current borrowings and Rs 6.879 crore received against share warrants or convertible preference shares.

Cash and cash equivalents closed at Rs 14.4 lakh on 30 September 2026, down from Rs 40.535 crore at 31 March 2026. The cash-flow statement reports an overall decrease of Rs 40.492 crore during the half year, with closing balances comprising Rs 11.8 lakh in current accounts and Rs 2.6 lakh in cash on hand.

What did the limited-review report say about Prime Industries’ results?

Prime Industries’ consolidated unaudited results were subject to a limited review by Akshay Singhla & Associates, dated 5 November 2026. The auditor said nothing had come to its attention that caused it to believe the statement had not disclosed the required information under applicable accounting requirements and listing regulations.

The report states that the auditor did not itself review the financial information of subsidiary Linga Agri Trading and Machinery Private Limited. The subsidiary had total assets of Rs 140.080 crore at 30 September 2026, and the auditor relied on the subsidiary’s independent auditors’ report and management-furnished information for the relevant amounts.

The auditor’s conclusion was not modified in respect of that reliance. The report also states that a review provides moderate assurance and is substantially less extensive in scope than an audit conducted under auditing standards.

Conclusion

Prime Industries increased consolidated half-year profit after tax to Rs 7.686 crore from Rs 6.544 crore even as revenue from operations declined to Rs 33.951 crore. The result reflected a larger reduction in reported expenses than the fall in revenue, while manufacturing supplied all revenue shown in the current half-year segment disclosure.

The next reported period will show whether trade receivables of Rs 59.790 crore and the Rs 14.128 crore operating cash outflow reverse or persist. Readers can also watch for further disclosure on the comparative revenue difference between the Rs 35.575 crore income-statement figure and the Rs 36.675 crore segment subtotal for the half year ended 30 September 2025.