Rashi Peripherals Q2 revenue rises 49%, profit more than doubles

Rashi Peripherals Limited reported consolidated revenue from operations of Rs 6,185.113 crore for the quarter ended September 30, 2026, up 48.8% year on year, while profit after tax rose 120.8% to Rs 130.742 crore. The Board approved the unaudited consolidated results on November 5, 2026.

How did Rashi Peripherals perform in the September 2026 quarter?

Rashi Peripherals increased revenue, profit before tax and profit after tax both year on year and sequentially in the September 2026 quarter. Revenue from operations rose from Rs 4,155.407 crore in the September 2025 quarter and Rs 5,101.852 crore in the June 2026 quarter, while profit after tax rose from Rs 59.215 crore and Rs 104.565 crore, respectively.

The increase in profit before tax exceeded the revenue growth rate in the reported comparison. Total income reached Rs 6,199.533 crore from Rs 4,159.886 crore a year earlier, while total expenses increased to Rs 6,024.948 crore from Rs 4,081.230 crore. Profit before tax consequently rose to Rs 174.585 crore from Rs 78.656 crore.

What changed in Rashi Peripherals' costs and earnings?

Rashi Peripherals reported purchases of stock-in-trade of Rs 6,934.718 crore in the September quarter, compared with Rs 4,263.702 crore a year earlier. Changes in inventories reduced expenses by Rs 1,119.384 crore, compared with a Rs 316.615 crore reduction in the September 2025 quarter, affecting the relationship between purchases, expenses and revenue.

Several other cost lines increased from the prior-year quarter. Employee benefits expense rose to Rs 71.173 crore from Rs 49.959 crore, finance costs increased to Rs 48.017 crore from Rs 24.395 crore, and other expenses reached Rs 78.489 crore from Rs 54.715 crore. Depreciation and amortisation increased to Rs 11.935 crore from Rs 5.074 crore.

Rashi Peripherals recorded tax expense of Rs 43.843 crore in the September 2026 quarter, against Rs 19.441 crore a year earlier. Current tax was Rs 45.442 crore and deferred tax was a benefit of Rs 1.599 crore. The resulting consolidated profit after tax was Rs 130.742 crore, including Rs 125.472 crore attributable to owners of the company and Rs 5.249 crore attributable to non-controlling interests.

How did Rashi Peripherals perform in the first half?

Rashi Peripherals reported revenue from operations of Rs 11,286.965 crore for the six months ended September 30, 2026, a 54.4% increase from Rs 7,307.550 crore in the corresponding 2025 period. First-half profit after tax rose 94.6% to Rs 235.307 crore from Rs 120.915 crore.

First-half total income increased to Rs 11,318.772 crore from Rs 7,319.933 crore, whereas total expenses rose to Rs 11,005.225 crore from Rs 7,161.003 crore. Profit before tax was Rs 313.547 crore, compared with Rs 158.930 crore in the prior-year half, and total tax expense was Rs 78.240 crore compared with Rs 38.015 crore.

Basic earnings per share were Rs 34.56 for the six months ended September 30, 2026, compared with Rs 18.18 a year earlier. Diluted earnings per share were Rs 34.27 against Rs 18.04. The filing states that basic and diluted earnings per share for interim periods, unlike the year ended March 31, 2026, are not annualised.

Which geographies contributed to Rashi Peripherals' revenue?

Rashi Peripherals generated Rs 6,020.463 crore of revenue in India and Rs 164.650 crore overseas in the September 2026 quarter. India revenue increased from Rs 4,058.184 crore in the September 2025 quarter, while overseas revenue rose from Rs 97.223 crore, with India remaining the larger reported geography.

Both reported geographies also grew from the June 2026 quarter. India revenue was Rs 4,984.396 crore in June and overseas revenue was Rs 117.456 crore, compared with the September-quarter figures of Rs 6,020.463 crore and Rs 164.650 crore. Rashi Peripherals identifies a single operating segment, Computer Systems, Software & Peripherals, Mobiles, and did not publish separate operating-segment financial results under Indian Accounting Standard 108.

What changed in Rashi Peripherals' balance sheet and cash flow?

Rashi Peripherals' total assets were Rs 9,315.277 crore at September 30, 2026, compared with Rs 5,327.148 crore at March 31, 2026. Inventories rose to Rs 4,498.723 crore from Rs 2,553.722 crore and trade receivables increased to Rs 3,130.358 crore from Rs 2,184.212 crore. Total equity rose to Rs 2,412.734 crore from Rs 2,036.228 crore.

The group used Rs 516.519 crore in operating activities during the six months ended September 30, 2026, compared with cash generated from operating activities of Rs 35.249 crore in the prior-year period. Working-capital movements included a Rs 1,878.919 crore increase in inventories and a Rs 726.314 crore increase in trade and other receivables, partly offset by a Rs 2,241.636 crore increase in trade payables and other liabilities.

Rashi Peripherals used Rs 372.620 crore in investing activities, including Rs 366.649 crore for acquisition of a subsidiary net of cash acquired, and generated Rs 737.560 crore from financing activities. Cash and cash equivalents reported in the statement of assets and liabilities were Rs 105.071 crore at September 30, 2026, compared with Rs 81.208 crore at March 31, 2026.

What corporate actions did Rashi Peripherals disclose?

Rashi Peripherals acquired 67% of VDA Infosolutions Private Limited during the September 2026 quarter for a purchase consideration of Rs 368.5 crore. The filing says the remaining 33% is to be acquired in three equal annual tranches of 11% each by August 31, 2027, August 31, 2028 and August 31, 2029.

Rashi Peripherals entered into an August 28, 2026 business transfer agreement to transfer its embedded business to wholly owned Rashi Semiconductor Solutions Private Limited on a slump-sale basis for Rs 63.793 crore. Its Singapore subsidiary separately entered into an August 26, 2026 agreement to transfer its embedded business to Rashi Semiconductor Solutions Pte. Ltd. for Rs 43.936 crore.

During the quarter, Rashi Peripherals allotted 506,081 equity shares of Rs 5 each on the exercise of employee stock options, increasing paid-up shares to 66,405,746 from 65,899,665. The consolidated results recognised equity-settled share-based payment expense of Rs 3.843 crore for the quarter and Rs 10.487 crore for the six months ended September 30, 2026.

Conclusion

Rashi Peripherals' filing shows faster consolidated profit growth than revenue growth in the September 2026 quarter, with revenue rising 48.8% to Rs 6,185.113 crore and profit after tax increasing 120.8% to Rs 130.742 crore. First-half revenue rose 54.4% to Rs 11,286.965 crore, while the balance sheet also expanded through higher inventories, receivables, goodwill and other intangible assets.

The disclosed matters to watch are the three planned annual tranches to acquire the remaining 33% of VDA Infosolutions Private Limited through August 31, 2029, and the implementation of the embedded-business transfers agreed in August 2026. Rashi Peripherals also reported a six-month operating cash outflow of Rs 516.519 crore alongside the increase in working-capital balances.