Sarthak Global swings to Rs 10.90 lakh first-half loss

Sarthak Global Limited reported a Rs 10.90 lakh net loss for the half year ended September 30, 2026, reversing a Rs 41.33 lakh profit a year earlier as income from operations fell to Rs 16.48 lakh from Rs 91.23 lakh. Total income declined more sharply than expenses during the period.

What were Sarthak Global’s first-half financial results?

Sarthak Global recorded a Rs 10.90 lakh net loss for the half year ended September 30, 2026, compared with a Rs 41.33 lakh net profit in the corresponding half year ended September 30, 2025. Income from operations declined by Rs 74.75 lakh to Rs 16.48 lakh, while total income fell to Rs 18.61 lakh from Rs 94.40 lakh.

Total expenses were Rs 29.48 lakh in the latest half year, down from Rs 39.22 lakh a year earlier. As expenses exceeded total income by Rs 10.87 lakh, Sarthak Global reported a loss before tax of Rs 10.87 lakh, against profit before tax of Rs 55.18 lakh in the previous corresponding period.

Why did Sarthak Global move into a loss?

Sarthak Global moved into a first-half loss because the Rs 74.75 lakh decline in income from operations was substantially larger than the Rs 9.74 lakh reduction in total expenses. Income from operations fell from Rs 91.23 lakh in the half year ended September 2025 to Rs 16.48 lakh in the latest half year, while other income declined to Rs 2.13 lakh from Rs 3.16 lakh.

The difference between total income and expenses changed materially across the two periods. In the half year ended September 2026, expenses of Rs 29.48 lakh exceeded income of Rs 18.61 lakh; in the corresponding 2025 period, income of Rs 94.40 lakh was higher than expenses of Rs 39.22 lakh, producing the reported Rs 55.18 lakh profit before tax.

The filing does not provide a management explanation for the income decline or identify a particular expense line as the cause of the loss. It reports standalone results for the company’s two businesses, so the reported Rs 10.90 lakh loss cannot be assigned to either activity from the disclosed statement.

How did Sarthak Global perform in the September 2026 quarter?

Sarthak Global reported a Rs 3.75 lakh net loss for the quarter ended September 30, 2026, improving from a Rs 7.25 lakh loss in the quarter ended June 30, 2026 but widening from a Rs 0.34 lakh loss in the quarter ended September 30, 2025. The latest quarter remained loss-making despite a sequential rise in income from operations.

Income from operations increased to Rs 10.07 lakh in the September 2026 quarter from Rs 6.40 lakh in the June 2026 quarter. It was also above the Rs 9.36 lakh reported in the September 2025 quarter, although other income fell to Rs 0.15 lakh from Rs 2.28 lakh sequentially and Rs 0.20 lakh a year earlier.

Total income was Rs 10.22 lakh in the September 2026 quarter, compared with Rs 8.68 lakh in the preceding quarter and Rs 9.56 lakh in the year-earlier quarter. Expenses were Rs 13.60 lakh, down from Rs 15.88 lakh in June 2026 but above Rs 11.94 lakh in September 2025, resulting in a Rs 3.67 lakh pre-tax loss.

What businesses does Sarthak Global operate?

Sarthak Global states that it operates in trading of commodities and share transfer agent services. The September 2026 half-year filing identifies these two businesses but does not disclose separate revenue, expense, asset or profit figures for either segment.

As a result, the Rs 16.48 lakh income from operations in the half year ended September 2026 cannot be split between commodity trading and share transfer agent services using this filing. The same limitation applies to the Rs 10.90 lakh net loss, which is reported only at the standalone company level.

Sarthak Global’s paid-up equity share capital was Rs 3 crore at September 30, 2026, unchanged from March 31, 2026. Other equity was negative Rs 1.41 crore at September 30, compared with negative Rs 1.30 crore at March 31, a movement of Rs 10.90 lakh that matched the reported first-half loss.

How did Sarthak Global’s balance sheet change?

Sarthak Global’s total assets increased to Rs 15.22 crore at September 30, 2026 from Rs 11.75 crore at March 31, 2026. Current loans rose to Rs 14.45 crore from Rs 9.68 crore, while trade receivables declined to Rs 95,000 from Rs 18.58 lakh.

Cash and cash equivalents fell to Rs 8.87 lakh at September 30, 2026 from Rs 1.08 crore at March 31, 2026. Total equity declined to Rs 1.59 crore from Rs 1.70 crore, reflecting the movement in other equity while share capital remained Rs 3 crore.

Non-current borrowings rose to Rs 12.28 crore at September 30, 2026 from Rs 8.99 crore at March 31, 2026. Current borrowings were Rs 1.31 crore at September 30, while the March 31 balance was Rs 96.01 lakh; total liabilities increased to Rs 13.63 crore from Rs 10.05 crore.

Was Sarthak Global’s half-year result reviewed by auditors?

Sarthak Global’s unaudited standalone results for the half year ended September 30, 2026 were reviewed by its audit committee and approved by its board on November 13, 2026. The board meeting began at 5:00 p.m. Indian Standard Time and concluded at 6:00 p.m. Indian Standard Time, according to the filing.

The company said statutory auditor Ashok Kumar Agrawal & Associates issued a limited review report with an unmodified opinion on the financial results. The filing also states that the results were prepared under Indian Accounting Standards and in compliance with Regulation 33 of the Securities and Exchange Board of India listing regulations.

Sarthak Global said figures for previous corresponding periods were regrouped or reclassified where necessary to conform with the current presentation. The company also disclosed that statements on deviation or variation in use of issue proceeds, outstanding loan and debt-security defaults, and related-party transactions were not applicable in this filing.

Conclusion

Sarthak Global’s September 2026 half-year statement shows a reversal in reported earnings as operating income dropped to Rs 16.48 lakh from Rs 91.23 lakh and the company moved from a Rs 41.33 lakh profit to a Rs 10.90 lakh loss. The balance sheet expanded at the same time, with total liabilities rising to Rs 13.63 crore and non-current borrowings reaching Rs 12.28 crore.

The filing does not disclose a turnaround plan, target or date for the next financial results. The next disclosed action is publication of the approved results in stipulated newspapers and availability on Sarthak Global’s website, while future filings may clarify whether income changes in commodity trading or share transfer agent services and the higher borrowing balances persist.