Promax Power net profit falls 86% in September half

Promax Power Limited reported net profit of Rs 19.44 lakh for the six months ended September 30, 2026, down 85.7% from Rs 1.3585 crore a year earlier, as revenue from operations declined 12.5% to Rs 31.8154 crore. The board approved the unaudited results on November 14, 2026.

How did Promax Power perform in the September 2026 half?

Promax Power reported revenue from operations of Rs 31.8154 crore for the six months ended September 30, 2026, compared with Rs 36.327 crore in the corresponding six months ended September 30, 2025. Other income increased to Rs 50.09 lakh from Rs 27.17 lakh, but total revenue still declined 11.7% to Rs 32.3163 crore from Rs 36.5987 crore.

Profit before tax fell to Rs 26.33 lakh from Rs 1.8003 crore in the corresponding 2025 half. Profit for the period decreased by Rs 1.1641 crore to Rs 19.44 lakh from Rs 1.3585 crore, while both basic and diluted earnings per share were Rs 0.08, against Rs 0.54 a year earlier.

Why did Promax Power’s profit decline more than revenue?

Promax Power’s total expenses declined 7.9% to Rs 32.053 crore in the September 2026 half from Rs 34.7984 crore in the year-earlier period. This Rs 2.7454 crore expense reduction was smaller than the Rs 4.2824 crore decline in total revenue, leaving profit before tax at Rs 26.33 lakh.

Purchases of goods fell to Rs 31.2392 crore from Rs 36.4087 crore, while employee benefit expense declined to Rs 19.13 lakh from Rs 45.23 lakh. Finance costs, however, increased to Rs 1.3813 crore from Rs 1.0638 crore, and the inventory adjustment was negative Rs 1.1821 crore compared with negative Rs 4.3525 crore in the corresponding 2025 half.

Based on the reported figures, profit before tax represented about 0.8% of total revenue in the September 2026 half, compared with about 4.9% a year earlier. Profit for the period represented about 0.6% of total revenue, compared with about 3.7% in the corresponding six months ended September 30, 2025.

How did Promax Power’s financial position change after March 2026?

Promax Power’s total assets stood at Rs 69.1485 crore on September 30, 2026, up from Rs 66.0926 crore on March 31, 2026. Current assets rose to Rs 64.2141 crore from Rs 61.1444 crore, while shareholders’ funds increased by Rs 19.45 lakh to Rs 31.0985 crore.

Inventories increased by Rs 1.1821 crore to Rs 27.6021 crore and short-term loans and advances rose by Rs 2.7104 crore to Rs 10.8846 crore between March 31 and September 30. Trade receivables moved lower by Rs 1.2596 crore to Rs 19.4887 crore, while cash and cash equivalents rose by Rs 43.68 lakh to Rs 6.2387 crore.

Promax Power’s long-term borrowings increased to Rs 6.7781 crore on September 30 from Rs 4.0697 crore on March 31, while short-term borrowings rose to Rs 26.8285 crore from Rs 25.8293 crore. Trade payables to creditors other than micro enterprises and small enterprises declined to Rs 2.3955 crore from Rs 3.1619 crore, and other current liabilities fell to Rs 2.0157 crore from Rs 2.0985 crore.

What does Promax Power’s cash flow statement show?

Promax Power used Rs 2.0522 crore in operating activities during the period ended September 30, 2026. This compares with Rs 9.8636 crore used in operating activities during the full year ended March 31, 2026, so the periods are not directly comparable.

Cash generated from operations before direct taxes was negative Rs 1.9863 crore for the September 2026 period. The cash flow statement recorded an Rs 1.1821 crore inventory increase and an Rs 2.7104 crore increase in loans, advances and other current assets, partly offset by a Rs 1.2596 crore reduction in trade receivables.

Net cash from financing activities was Rs 2.3263 crore for the period ended September 30, 2026. Proceeds from long-term borrowings were Rs 2.7084 crore, proceeds from short-term borrowings were Rs 99.92 lakh, and interest expense was Rs 1.3813 crore.

Investing activities generated Rs 16.26 lakh, comprising Rs 16.87 lakh of interest received less Rs 61,000 spent on property, plant and equipment or intangible assets. Combined operating, investing and financing movements raised cash and cash equivalents by Rs 43.68 lakh from Rs 5.8019 crore at March 31, 2026 to Rs 6.2387 crore at September 30, 2026.

How were Promax Power’s September-half results approved and reported?

Promax Power said its audit committee reviewed the unaudited results before the board approved and took them on record on November 14, 2026. The board meeting started at 4:00 p.m. and concluded at 4:45 p.m., and the company also disclosed approval of the statutory auditors’ limited review report.

The September 2026 statements were prepared under the Companies (Accounting Standards) Rules, 2006, as amended, and Section 133 of the Companies Act, 2013. Promax Power said it had no more than one reportable segment under the applicable financial reporting framework, so it did not provide segment-wise financial results.

Promax Power’s equity shares are listed on the SME Platform, according to the November 14 filing. The company said the results would be published on its website and on the BSE website, and it noted that previous-period figures had been regrouped or reclassified where necessary.

Conclusion

Promax Power’s September 2026 half combined a Rs 4.5116 crore year-on-year decline in revenue from operations with a Rs 1.1641 crore decline in profit for the period. Total expenses fell by Rs 2.7454 crore, but the reduction did not match the decline in total revenue, resulting in profit before tax of Rs 26.33 lakh and net profit of Rs 19.44 lakh.

The filing does not disclose a financial target or a scheduled next earnings date. The next disclosed step is publication of the September-half results on Promax Power’s website and the BSE website; the September 30 balance sheet also shows long-term borrowings of Rs 6.7781 crore and cash and cash equivalents of Rs 6.2387 crore.