S. K. Offset reports Rs 3.08 crore first-half profit in September

S. K. Offset Limited reported profit after tax of Rs 3.08 crore for the half year ended September 30, 2026, on operating revenue of Rs 21.58 crore. Profit before tax was Rs 4.71 crore, while cash and cash equivalents rose to Rs 29.24 crore after the company’s September 28, 2026 BSE SME listing.

What did S. K. Offset earn in the half year ended September 2026?

S. K. Offset earned Rs 3.08 crore after tax in the half year ended September 30, 2026, after recording profit before tax of Rs 4.71 crore and total tax expense of Rs 1.63 crore. The unaudited statement showed no exceptional or extraordinary items, leaving pre-tax profit unchanged at Rs 4.71 crore before and after those lines.

Revenue from operations was Rs 21.58 crore and other income was Rs 18.07 lakh, producing total revenue of Rs 21.76 crore. The only comparative income statement supplied is for the audited year ended March 31, 2026, when S. K. Offset reported Rs 66.67 crore of operating revenue, Rs 9.92 crore of pre-tax profit and Rs 7.50 crore of profit after tax. Since the comparative is a full year rather than a corresponding six-month period, the two reported periods are not like-for-like.

Which expenses and inventory movements affected S. K. Offset’s profit?

S. K. Offset reported total expenses of Rs 17.06 crore against total revenue of Rs 21.76 crore for the half year ended September 30, 2026, generating Rs 4.71 crore of pre-tax profit. Purchases were Rs 22.92 crore, the largest stated cost line, while the change in inventories was negative Rs 14.95 crore. That negative inventory movement reduced the reported total expense figure under the company’s accounting presentation.

Employee benefit expenses were Rs 2.43 crore, finance costs were Rs 1.71 crore, depreciation was Rs 1.47 crore and other expenses were Rs 3.48 crore in the September half year. For the year ended March 31, 2026, the corresponding reported figures were Rs 6.11 crore, Rs 2.52 crore, Rs 2.00 crore and Rs 5.86 crore. S. K. Offset disclosed one business segment, sub-categorised as packaging, printing and binding, labelling, and others, without separate revenue or profit figures for those categories.

How did S. K. Offset’s balance sheet change by September 2026?

S. K. Offset’s total assets rose to Rs 125.21 crore at September 30, 2026 from Rs 82.64 crore at March 31, 2026. Current assets increased to Rs 107.57 crore from Rs 64.18 crore, led by cash and cash equivalents of Rs 29.24 crore, compared with Rs 14.58 lakh at March 31, and inventories of Rs 38.90 crore, compared with Rs 23.94 crore.

Trade receivables rose to Rs 26.05 crore at September 30 from Rs 24.78 crore six months earlier, while short-term loans and advances fell to Rs 13.29 crore from Rs 15.23 crore. Non-current assets declined to Rs 17.64 crore from Rs 18.46 crore as property, plant and equipment decreased to Rs 14.38 crore from Rs 15.68 crore. The September balance sheet also recorded capital work in progress of Rs 4.33 lakh.

How did the September 2026 IPO affect S. K. Offset’s finances?

S. K. Offset completed an initial public offering of 23.25 lakh equity shares during the half year ended September 30, 2026. The fresh issue was priced at Rs 125 per share, including a premium of Rs 115 per share over the Rs 10 face value, and aggregated to Rs 29.06 crore. The shares were listed on the SME Platform of BSE Limited on September 28, 2026.

Share capital increased to Rs 7.74 crore at September 30 from Rs 5.42 crore at March 31, while total equity increased to Rs 50.28 crore from Rs 19.71 crore. S. K. Offset said Rs 1.58 crore of issue expenses attributable to the fresh issue was adjusted against securities premium under Section 52 of the Companies Act, 2013. Long-term borrowings rose to Rs 18.31 crore from Rs 14.28 crore, while short-term borrowings declined to Rs 19.29 crore from Rs 20.30 crore.

What did the limited review say about S. K. Offset’s results?

S. K. Offset received an unmodified limited-review conclusion from statutory auditor Ravindra Aggarwal & Co. on November 12, 2026. The auditor said nothing had come to its attention that caused it to believe the half-year statement did not disclose required information or contained a material misstatement.

The review was conducted under Standard on Review Engagements 2410, which the auditor said involves inquiries and analytical procedures and provides less assurance than an audit. The Audit Committee reviewed and recommended the September 30 results, and the board approved them on November 12, 2026. The board meeting began at 4:45 p.m. and concluded at 7:47 p.m. on that date.

Conclusion

The September 2026 filing shows S. K. Offset earned Rs 3.08 crore after tax on Rs 21.58 crore of operating revenue, while its balance sheet expanded after the Rs 29.06 crore fresh share issue. Cash increased to Rs 29.24 crore, inventories rose to Rs 38.90 crore and total equity reached Rs 50.28 crore at September 30.

The next point to watch is S. K. Offset’s financial reporting during financial year 2026-27, when the company will have M/s. Vinay Terse & Associates as secretarial auditor and M/s. Sanjay & Co. as internal auditor. The filing does not disclose a target or stated use of IPO proceeds, leaving future disclosures to show how the higher cash, inventory and receivables balances develop.