Sharda Ispat first-half net profit rises to Rs 2.95 crore

Sharda Ispat Limited reported unaudited net profit of Rs 2.95 crore for the half year ended September 30, 2026, compared with Rs 41.32 lakh a year earlier, as revenue from operations increased to Rs 138.62 crore from Rs 54.01 crore. First-half profit before tax rose to Rs 3.93 crore from Rs 63.44 lakh.

What were Sharda Ispat’s first-half results?

Sharda Ispat recorded a more than sevenfold increase in net profit for the half year ended September 30, 2026. Profit after tax was Rs 2.95 crore, against Rs 41.32 lakh in the corresponding half of 2025, while total income rose to Rs 140.25 crore from Rs 56.03 crore. Revenue from operations accounted for Rs 138.62 crore of 2026 first-half income, compared with Rs 54.01 crore a year earlier.

The increase in profit before tax was Rs 3.30 crore, with the measure reaching Rs 3.93 crore from Rs 63.44 lakh. Sharda Ispat reported no exceptional items and no extraordinary items in either half-year period. Total comprehensive income was Rs 3.38 crore in the 2026 half year, compared with Rs 89.90 lakh in the previous-year period, as other comprehensive income was Rs 42.51 lakh versus Rs 48.59 lakh.

Earnings per share, or EPS, was Rs 5.81 for the half year ended September 30, 2026, compared with Rs 0.81 in the corresponding 2025 period. The filing states that basic and diluted EPS were not annualised. Paid-up equity share capital remained Rs 5.08 crore at September 30, 2026, unchanged from September 30, 2025.

How did costs affect Sharda Ispat’s first-half earnings?

Sharda Ispat’s total expenses rose to Rs 136.31 crore in the half year ended September 30, 2026 from Rs 55.40 crore a year earlier, an increase of Rs 80.91 crore. That increase was lower than the Rs 84.61 crore rise in operating revenue over the same periods, resulting in profit before tax of Rs 3.93 crore rather than Rs 63.44 lakh.

Raw-material consumption was the largest reported cost, rising to Rs 106.52 crore from Rs 43.04 crore. Other expenses increased to Rs 15.54 crore from Rs 7.99 crore, while inventory changes were Rs 10.93 crore compared with negative Rs 15.26 lakh in the prior-year half. Purchases of stock in trade were Rs 14.54 lakh, down from Rs 1.32 crore.

Finance cost declined to Rs 1.00 crore in the 2026 half year from Rs 1.33 crore a year earlier. Employee-benefit expense rose to Rs 1.74 crore from Rs 1.51 crore, and depreciation and amortisation increased to Rs 44.15 lakh from Rs 37.93 lakh. Sharda Ispat states that it operates in a single iron and steel segment, so Indian Accounting Standard 108, or Ind AS 108, operating-segment disclosures are not applicable.

How did Sharda Ispat’s September quarter compare with prior periods?

Sharda Ispat reported net profit of Rs 1.32 crore for the quarter ended September 30, 2026, lower than Rs 1.64 crore in the quarter ended June 30, 2026 but above Rs 12.93 lakh in the quarter ended September 30, 2025. Revenue from operations was Rs 67.47 crore in the September quarter, compared with Rs 71.15 crore in June and Rs 26.19 crore a year earlier.

Total income for the September 2026 quarter was Rs 68.35 crore, down from Rs 71.90 crore in the preceding quarter and up from Rs 27.20 crore in the year-earlier quarter. Total expenses were Rs 66.62 crore, compared with Rs 69.69 crore in June 2026 and Rs 26.96 crore in September 2025. The September-quarter profit before tax was Rs 1.73 crore, versus Rs 2.21 crore in June 2026.

Other income was Rs 87.29 lakh in the September 2026 quarter, compared with Rs 74.91 lakh in the June quarter and Rs 1.01 crore in the September 2025 quarter. Quarterly basic and diluted EPS was Rs 2.59, against Rs 3.22 in June 2026 and Rs 0.25 a year earlier. The filing labels each of these quarterly EPS figures as not annualised.

What changed in Sharda Ispat’s balance sheet and cash flow?

Sharda Ispat’s total assets were Rs 97.66 crore at September 30, 2026, down from Rs 101.59 crore at March 31, 2026. Total equity rose to Rs 68.83 crore from Rs 65.46 crore, including other equity of Rs 63.76 crore compared with Rs 60.38 crore. Total current assets declined to Rs 83.42 crore from Rs 87.49 crore.

Inventories fell to Rs 15.51 crore at September 30 from Rs 22.64 crore at March 31, while trade receivables declined to Rs 17.37 crore from Rs 18.59 crore. Cash and cash equivalents increased to Rs 5.11 crore from Rs 1.78 crore. Loans classified among current financial assets rose to Rs 40.55 crore from Rs 39.55 crore.

Current borrowings decreased to Rs 22.66 crore at September 30, 2026 from Rs 30.38 crore at March 31, 2026. Sharda Ispat also reported non-current borrowings of Rs 1.62 crore at September 30, whereas none were reported at the March 31 year-end. Total current liabilities were Rs 26.53 crore, compared with Rs 35.19 crore six months earlier.

The cash-flow statement reported net cash from operating activities of Rs 10.26 crore for the period ended September 30, 2026, compared with net cash used in operating activities of Rs 70.97 lakh for the year ended March 31, 2026. Cash generation from operations was Rs 11.37 crore, including a Rs 7.13 crore decrease in inventories and a Rs 1.24 crore decrease in trade and other receivables. Net cash used in financing activities was Rs 7.42 crore, including a Rs 6.09 crore decrease in bank borrowings.

Conclusion

Sharda Ispat’s first-half results combined a Rs 84.61 crore increase in operating revenue with a Rs 3.30 crore rise in profit before tax, taking net profit to Rs 2.95 crore. The September quarter contributed Rs 1.32 crore of that first-half profit, although its Rs 67.47 crore revenue and Rs 1.32 crore net profit were below the June 2026 quarter’s Rs 71.15 crore and Rs 1.64 crore respectively.

The November 3, 2026 filing contains no earnings target, expansion plan or scheduled operating event. The reported September 30, 2026 results were unaudited and subject to a limited review, with the auditor stating that nothing had come to its attention indicating a material misstatement in the financial statement.