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, compared with a Rs 41.33 lakh profit a year earlier, as total revenue fell to Rs 18.61 lakh from Rs 94.40 lakh. The unaudited standalone results were approved on November 13, 2026.

Why did Sarthak Global report a first-half loss?

Sarthak Global reported a Rs 10.90 lakh net loss for the half-year ended September 30, 2026, reversing a Rs 41.33 lakh net profit in the half-year ended September 30, 2025. The result followed losses in each quarter of the 2026 half-year: Rs 7.25 lakh in the quarter ended June 30 and Rs 3.75 lakh in the quarter ended September 30.

The company recorded a loss before tax of Rs 10.87 lakh in the latest half-year, against profit before tax of Rs 55.18 lakh in the corresponding 2025 period. The reported tax adjustment was Rs 0.03 lakh for the six months ended September 30, 2026. The filing does not identify a specific operational reason for the shift from profit to loss.

The comparison shows expenses fell by Rs 9.74 lakh year on year, but revenue fell by a larger Rs 75.79 lakh. As a result, total expenses of Rs 29.48 lakh exceeded total revenue of Rs 18.61 lakh in the September 2026 half-year. In the prior-year half-year, revenue of Rs 94.40 lakh was above expenses of Rs 39.22 lakh.

How far did Sarthak Global's revenue decline?

Sarthak Global's total revenue declined to Rs 18.61 lakh for the half-year ended September 30, 2026, from Rs 94.40 lakh a year earlier. Income from operations accounted for Rs 16.48 lakh, compared with Rs 91.23 lakh in the corresponding 2025 half-year, while other income declined to Rs 2.13 lakh from Rs 3.16 lakh.

For the quarter ended September 30, 2026, total revenue was Rs 9.92 lakh, compared with Rs 8.68 lakh in the June 2026 quarter and Rs 9.16 lakh in the September 2025 quarter. The sequential increase in quarterly revenue did not prevent a first-half decline because the latest six-month total remained well below the Rs 94.40 lakh reported a year earlier.

The company reported Rs 587.12 lakh of total revenue for the year ended March 31, 2026, including Rs 521.78 lakh of income from operations and Rs 65.34 lakh of other income. That full-year figure is not directly comparable with the six-month result, but it shows the latest Rs 18.61 lakh half-year revenue was substantially lower than the preceding full-year level.

Which businesses does Sarthak Global operate?

Sarthak Global operates in commodity trading and share transfer agent services, according to the notes to its September 2026 results. The filing presents one standalone income statement for the company and gives no separate revenue, expense, asset or profit figures for either of the two businesses in the Rs 18.61 lakh half-year revenue total.

The Rs 10.90 lakh half-year loss therefore cannot be assigned from this filing to either commodity trading or share transfer agent services. The source discloses total expenses of Rs 29.48 lakh and a loss before tax of Rs 10.87 lakh, but it does not provide segment margins, business-wise costs or segment assets.

Both businesses were included in the company's standalone reporting for the half-year ended September 30, 2026. The notes also state that corresponding figures have been regrouped or reclassified where considered necessary, meaning the comparative Rs 94.40 lakh revenue and Rs 41.33 lakh profit figures are presented on the filing's stated basis.

What changed in Sarthak Global's balance sheet and borrowings?

Sarthak Global's total assets rose to Rs 15.223 crore at September 30, 2026, from Rs 11.7531 crore at March 31, 2026. Current assets increased to Rs 15.0731 crore from Rs 11.6187 crore, while non-current assets increased to Rs 14.99 lakh from Rs 13.44 lakh.

Current loans increased to Rs 14.4528 crore at September 30, 2026 from Rs 9.683 crore at March 31, 2026. Cash and cash equivalents declined to Rs 8.87 lakh from Rs 1.0765 crore, while current trade receivables decreased to Rs 0.95 lakh from Rs 18.58 lakh. Inventories were unchanged at Rs 30.65 lakh on both balance-sheet dates.

Non-current borrowings rose to Rs 12.283 crore from Rs 8.989 crore, and current borrowings increased to Rs 1.3101 crore from Rs 96.01 lakh. Total equity decreased to Rs 1.5935 crore from Rs 1.7025 crore, with other equity at negative Rs 1.4065 crore compared with negative Rs 1.2975 crore at March 31, 2026.

What did Sarthak Global report on review and per-share earnings?

Sarthak Global said its audit committee reviewed and its board approved the unaudited standalone results for the half-year ended September 30, 2026 on November 13, 2026. The statutory auditor conducted a limited review, and the company said the results were prepared under Indian Accounting Standards and Regulation 33 of the Securities and Exchange Board of India listing regulations.

Basic and diluted earnings per share for continuing and discontinued operations were negative Rs 0.36 for the half-year ended September 30, 2026, compared with positive Rs 1.38 in the corresponding prior-year half-year. The per-share change is consistent with the movement from a Rs 41.33 lakh profit to a Rs 10.90 lakh loss.

Paid-up equity share capital was Rs 3 crore at September 30, 2026 and March 31, 2026, based on shares with a face value of Rs 10 each. The filing reported other equity of negative Rs 1.4065 crore at September 30, 2026, versus negative Rs 1.2975 crore six months earlier.

Conclusion

Sarthak Global's half-year results show a reversal from Rs 41.33 lakh profit to Rs 10.90 lakh loss as total revenue fell by Rs 75.79 lakh to Rs 18.61 lakh. Expenses declined by Rs 9.74 lakh, but remained above revenue, while the filing provides only combined standalone results for commodity trading and share transfer agent services.

The unresolved issue is the contribution of each of Sarthak Global's two businesses to the Rs 18.61 lakh revenue and Rs 10.90 lakh loss, because no segment-wise financial data were disclosed. The balance sheet also shows non-current borrowings of Rs 12.283 crore and current borrowings of Rs 1.3101 crore at September 30, 2026, compared with Rs 8.989 crore and Rs 96.01 lakh respectively at March 31, 2026.