Rishiroop first-half profit rises 65% on revenue growth

Rishiroop Limited reported standalone net profit of Rs 14.6484 crore for the six months ended September 30, 2026, up about 65% from Rs 8.8902 crore a year earlier, as revenue from operations increased 63% to Rs 57.5582 crore and investment fair-value gains contributed Rs 6.0197 crore.

How much did Rishiroop earn in the first half?

Rishiroop earned Rs 14.6484 crore after tax in the six months ended September 30, 2026, compared with Rs 8.8902 crore in the corresponding six months of 2025. The increase was Rs 5.7582 crore, or about 65% based on the reported figures. Basic and diluted earnings per share, or EPS, increased to Rs 15.99 from Rs 9.70.

Profit before tax rose to Rs 18.3571 crore from Rs 10.6268 crore, while total comprehensive income increased to Rs 14.5971 crore from Rs 8.9356 crore. Other comprehensive income was an expense of Rs 5.13 lakh in the 2026 half year, compared with income of Rs 4.54 lakh in the prior-year period.

Total income increased by Rs 23.3086 crore, or about 53%, while total expenses rose by Rs 15.5783 crore, or about 47%. This difference increased the pre-tax surplus in the September 2026 half year. The filing does not report a separate operating-margin measure.

What drove Rishiroop’s revenue increase?

Rishiroop’s revenue from operations rose by Rs 22.2383 crore to Rs 57.5582 crore in the six months ended September 30, 2026, from Rs 35.3199 crore a year earlier. Rishiroop identifies Polymers & Compound as its sole business segment, so the filing does not provide a split of the revenue movement by product or operating division.

The quarter ended September 30, 2026 contributed Rs 32.5080 crore of first-half operating revenue, compared with Rs 25.0502 crore in the quarter ended June 30, 2026 and Rs 17.6571 crore in the quarter ended September 30, 2025. The September quarter therefore accounted for about 56% of the half-year operating revenue and was nearly 30% higher than the preceding quarter.

Cost of materials consumed increased to Rs 11.9950 crore from Rs 7.7437 crore, and purchases of stock-in-trade rose to Rs 34.6219 crore from Rs 23.1103 crore. Changes in inventories generated a credit of Rs 3.2900 crore, compared with a credit of Rs 2.5462 crore a year earlier, partly offsetting the increases in materials and trading purchases.

Employee-benefit expense rose to Rs 3.0528 crore from Rs 2.6891 crore, while other operating expenses increased to Rs 1.9132 crore from Rs 1.6812 crore. Finance cost was Rs 6.63 lakh against Rs 6.29 lakh, and depreciation declined to Rs 23.22 lakh from Rs 27.21 lakh.

How much did investment gains contribute to Rishiroop’s result?

Rishiroop recorded a Rs 6.0197 crore gain on fair valuation of investments in the September 2026 half year, compared with a Rs 6.1131 crore gain in the year-earlier period. The gain was included in total income rather than revenue from operations and represented about 9% of the Rs 66.9485 crore total income for the period.

Other income rose to Rs 3.3106 crore from Rs 2.2063 crore. Together, other income and the fair-value gain were Rs 9.3303 crore in the 2026 half year, compared with Rs 8.3194 crore in the corresponding 2025 period. The Rs 22.2383 crore increase in operating revenue was the larger year-on-year movement in the income statement.

In the quarter ended September 30, 2026, Rishiroop reported a Rs 2.8811 crore fair-value loss on investments after a Rs 8.9608 crore gain in the quarter ended June 30, 2026. Quarterly net profit was consequently Rs 1.9639 crore in September, compared with Rs 12.6845 crore in June and Rs 21.85 lakh in the September 2025 quarter.

The cash-flow statement separately adjusted Rs 6.0797 crore of fair-value gains in reconciling profit before tax to operating cash flow. It also disclosed Rs 1.8141 crore of interest income, Rs 1.0613 crore of long-term gains on sale of investments and Rs 74.92 lakh of short-term gains on sale of investments during the six months ended September 30, 2026.

What changed in Rishiroop’s balance sheet and cash flow?

Rishiroop’s total assets were Rs 176.6323 crore at September 30, 2026, compared with Rs 158.3129 crore at September 30, 2025. Non-current investments declined to Rs 105.5821 crore from Rs 115.8175 crore, while current investments increased to Rs 19.6754 crore from Rs 10.1651 crore.

Inventories increased to Rs 24.3550 crore from Rs 16.7298 crore and trade receivables rose to Rs 19.5021 crore from Rs 11.1302 crore. Equity totalled Rs 150.3034 crore at September 30, 2026, comprising Rs 9.1636 crore of equity share capital and Rs 141.1398 crore of other equity.

Net cash used in operating activities was Rs 6.3261 crore in the six months ended September 30, 2026, compared with an outflow of Rs 1.5707 crore a year earlier. The cash-flow statement recorded Rs 4.8538 crore used for inventory and Rs 7.9866 crore used for receivables and advances, resulting in cash generated from operations before tax of negative Rs 4.5510 crore.

Investing activities generated Rs 6.6091 crore of net cash, following investment sales of Rs 47.2723 crore and investment purchases of Rs 39.2700 crore. Financing activities used Rs 1.5092 crore, including Rs 1.3746 crore of dividends paid, and cash and cash equivalents at the end of the period were Rs 1.1628 crore.

Conclusion

Rishiroop’s September 2026 half-year result combined a 63% increase in operating revenue with a Rs 6.0197 crore investment fair-value gain, lifting net profit about 65% to Rs 14.6484 crore. Total expenses rose more slowly than total income, while Polymers & Compound remained the only reported business segment.

The disclosed working-capital movement is the unresolved item to watch. Inventories of Rs 24.3550 crore and trade receivables of Rs 19.5021 crore coincided with a Rs 6.3261 crore operating cash outflow in the first half, despite profit before tax of Rs 18.3571 crore.