Silverstorm Parks H1 profit rises 48% as revenue grows 64%

Silverstorm Parks and Resorts Limited reported consolidated profit after tax of Rs 6.05 crore for the six months ended September 30, 2026, up 48% from Rs 4.10 crore a year earlier, as revenue from operations increased 64% to Rs 21.46 crore. The board approved the unaudited results on November 7, 2026.

How did Silverstorm Parks perform in H1?

Silverstorm Parks increased total income by 64% year on year to Rs 22.10 crore in the six months ended September 30, 2026, from Rs 13.56 crore in the corresponding six months of 2025. Revenue from operations accounted for Rs 21.46 crore, compared with Rs 13.12 crore a year earlier, while other income rose to Rs 64.40 lakh from Rs 44.26 lakh.

Profit before tax rose 40% to Rs 8.47 crore from Rs 6.04 crore. Profit after tax increased 48% to Rs 6.05 crore from Rs 4.10 crore, while total tax expense rose to Rs 2.42 crore from Rs 1.94 crore. There were no exceptional or extraordinary items in either half-year period.

Why did Silverstorm Parks' profit margin change?

Silverstorm Parks' expenses increased faster than total income in the September 2026 half year, rising 81% to Rs 13.64 crore against a 64% rise in income to Rs 22.10 crore. On the reported figures, profit after tax was about 27% of total income, compared with about 30% in the corresponding 2025 period.

Employee benefit expense rose to Rs 3.60 crore from Rs 2.62 crore, depreciation and amortisation increased to Rs 2.45 crore from Rs 1.50 crore, and other expenses more than doubled to Rs 4.51 crore from Rs 2.05 crore. Cost of material consumed increased to Rs 1.93 crore from Rs 91.53 lakh, while finance costs rose to Rs 43.72 lakh from Rs 6.51 lakh.

The immediately preceding half year reported lower activity in the September period. Revenue from operations was Rs 30.46 crore in the six months ended March 31, 2026, compared with Rs 21.46 crore in the September 2026 half year, while profit after tax was Rs 14.95 crore versus Rs 6.05 crore. These are consecutive half-year figures rather than a year-on-year comparison.

What does Silverstorm Parks' balance sheet show?

Silverstorm Parks reported total assets of Rs 268.62 crore at September 30, 2026, up from Rs 214.09 crore at March 31, 2026. Property, plant and equipment increased to Rs 193.28 crore from Rs 150.34 crore, while capital work-in-progress declined to Rs 31.42 crore from Rs 44.19 crore.

Shareholders' funds rose to Rs 209.08 crore at September 30 from Rs 133.39 crore at March 31. Share capital was Rs 22.68 crore, compared with Rs 16.48 crore, and reserves and surplus were Rs 186.40 crore, compared with Rs 116.91 crore.

Borrowings fell during the half year. Long-term borrowings were Rs 35.76 crore at September 30, down from Rs 52.10 crore at March 31, while short-term borrowings fell to Rs 7.49 crore from Rs 12.97 crore. Cash and bank balances rose to Rs 23.85 crore from Rs 16.19 lakh, while current assets increased to Rs 39.59 crore from Rs 14.47 crore.

How did Silverstorm Parks fund its cash flows?

Silverstorm Parks generated Rs 7.59 crore of net cash from operating activities in the six months ended September 30, 2026. The cash-flow statement began with profit before tax of Rs 8.47 crore and included Rs 2.45 crore of depreciation and amortisation, partly offset by working-capital movements including a Rs 1.70 crore reduction in trade payables.

Investing activities used Rs 31.43 crore, principally comprising Rs 32.63 crore spent on property, plant and equipment. The cash-flow statement also recorded Rs 77.08 lakh from changes in long-term loans and advances, Rs 59.70 lakh of interest received and Rs 17 lakh placed in bank balances not considered cash equivalents.

Financing activities generated Rs 47.35 crore, led by Rs 69.61 crore of proceeds from the issue of equity shares. Silverstorm Parks repaid Rs 31.80 crore of long-term borrowings and Rs 12.19 crore of short-term borrowings, while receiving Rs 9.56 crore from long-term borrowings. Cash and cash equivalents increased by Rs 23.52 crore to Rs 23.68 crore at September 30, 2026.

What does Silverstorm Parks disclose about its listing and operations?

Silverstorm Parks completed an initial public offering of 61,98,000 equity shares at an issue price of Rs 133 each, entirely through a fresh issue, and listed on the BSE SME Platform on July 31, 2026. The September 2026 results are its unaudited consolidated half-year results prepared after the listing under Regulation 33 of the Securities and Exchange Board of India listing regulations.

Silverstorm Parks identifies amusement parks, resorts and related services as its only primary business segment, with India as its single geographical segment. It therefore reported no separate reportable segments under Accounting Standard 17, which governs segment reporting. Basic earnings per share, not annualised, were Rs 2.94 for the September 2026 half year, compared with Rs 2.92 a year earlier; diluted earnings per share were Rs 2.94 versus Rs 2.51.

The statutory auditor conducted a limited review of the consolidated results for the half year ended September 30, 2026. Its November 7, 2026 report said nothing had come to its attention indicating that the statement failed to disclose required information or contained a material misstatement; the report also states that a limited review is less extensive than an audit.

Conclusion

Silverstorm Parks delivered higher year-on-year revenue and profit in the September 2026 half year, with operating revenue up 64% and profit after tax up 48%. Total expenses rose 81%, however, exceeding the 64% increase in total income and reducing the reported profit-after-tax share of income from about 30% to about 27%.

The filing records Rs 32.63 crore of property, plant and equipment purchases in the half year but does not provide a project-level description of that spending. Future disclosures can clarify changes in property, plant and equipment of Rs 193.28 crore and capital work-in-progress of Rs 31.42 crore, as well as whether those asset movements are accompanied by changes in operating revenue.