SPL Industries Limited posts Rs 1.02 crore September loss

SPL Industries Limited posted a Rs 1.02 crore net loss in the quarter ended September 30, 2026, after reporting Rs 0.52 crore profit before tax. The standalone unaudited results show Rs 1.54 crore of tax expense and adjustments, while total income for the quarter was Rs 19.74 crore.

Why did SPL Industries report a loss after pre-tax profit?

SPL Industries reported a loss because tax expense and adjustments of Rs 1.54 crore exceeded its Rs 0.52 crore profit before tax in the September 2026 quarter. The company recorded Rs 0.29 crore of profit before exceptional items and tax, and the reported exceptional item resulted in profit before tax of Rs 0.52 crore. Net loss for the period was Rs 1.02 crore.

The tax line included current tax of Rs 12.70 lakh, prior-period tax adjustments of Rs 1.30 crore and deferred tax of Rs 11.23 lakh. In the preceding June 2026 quarter, SPL Industries had reported Rs 2.13 crore of net profit, while the September 2025 quarter had a Rs 19.12 lakh net loss. Basic and diluted earnings per share were negative Rs 0.35 in the latest quarter, compared with Rs 0.73 in June 2026.

How did SPL Industries' September-quarter income change?

SPL Industries' total income fell to Rs 19.74 crore in the September 2026 quarter from Rs 23.55 crore in the June 2026 quarter, but exceeded Rs 18.10 crore in the September 2025 quarter. Revenue from operations was Rs 15.51 crore, down from Rs 19.40 crore sequentially and up from Rs 14.97 crore a year earlier.

Other income rose to Rs 4.23 crore from Rs 4.15 crore in the June quarter and Rs 3.13 crore in the year-earlier quarter. The Rs 3.81 crore sequential decline in total income was therefore driven by a Rs 3.89 crore reduction in revenue from operations, partly offset by Rs 8.01 lakh higher other income. The filing does not give a management explanation for these income movements.

What were SPL Industries' half-year results?

SPL Industries reported Rs 1.11 crore of net profit for the half year ended September 30, 2026, compared with Rs 71.46 lakh in the half year ended September 30, 2025. Total income increased to Rs 43.30 crore from Rs 38.46 crore, and revenue from operations rose to Rs 34.91 crore from Rs 31.61 crore.

Profit before tax increased by Rs 1.87 crore year on year to Rs 3.04 crore, while total expenses rose to Rs 40.49 crore from Rs 37.29 crore. The half-year net result combined the Rs 2.13 crore June-quarter profit with the Rs 1.02 crore September-quarter loss. Half-year basic and diluted earnings per share were Rs 0.38, compared with Rs 0.25 in the prior-year half.

What changed in SPL Industries' expenses and cash position?

SPL Industries' total expenses were Rs 19.46 crore in the September 2026 quarter, down from Rs 21.04 crore in June 2026 but above Rs 18.17 crore in September 2025. Profit before exceptional items and tax declined to Rs 28.60 lakh from Rs 2.52 crore in the preceding quarter, as total income fell faster than total expenses.

Finance costs increased to Rs 1.47 crore from Rs 87.24 lakh in June 2026 and Rs 23.86 lakh a year earlier. Depreciation and amortisation expense was Rs 86.22 lakh, compared with Rs 76.52 lakh in June and Rs 67.97 lakh in September 2025. Employee benefit expense was Rs 3.02 crore, against Rs 2.92 crore and Rs 2.89 crore, respectively.

SPL Industries reported net cash used in operating activities of Rs 4.54 crore for the half year ended September 30, 2026, compared with net cash from operating activities of Rs 20.84 crore in the year-earlier half. Cash and cash equivalents stood at Rs 77.74 lakh at September 30, 2026, down from Rs 1.19 crore at March 31, 2026. Net cash used in investing activities was Rs 4.13 crore, while financing cash outflow was Rs 3,000.

What did SPL Industries disclose on assets, review and complaints?

SPL Industries reported total assets of Rs 226.70 crore at September 30, 2026, compared with Rs 235.09 crore at March 31, 2026. Current trade receivables declined to Rs 8.46 crore from Rs 16.27 crore, while current investments increased to Rs 72.16 crore from Rs 68.78 crore. Total equity rose to Rs 217.16 crore from Rs 216.05 crore and total liabilities fell to Rs 9.55 crore from Rs 19.04 crore.

The audit committee reviewed the results and the board approved them on November 13, 2026. Raghu Nath Rai & Co. issued a limited review report dated November 13, 2026, stating that nothing had come to its attention indicating a material misstatement or inadequate disclosure under the applicable listing requirements. SPL Industries received no investor complaints during the September 2026 quarter; one complaint received in the June 2026 quarter regarding non-receipt of securities was resolved during the half year.

Conclusion

SPL Industries' September-quarter result moved from a Rs 2.13 crore profit in June 2026 to a Rs 1.02 crore loss despite year-on-year growth in total income to Rs 19.74 crore. The immediate result reflected a Rs 1.54 crore tax expense and adjustments against Rs 0.52 crore of profit before tax, while the six-month result remained profitable at Rs 1.11 crore.

The filing does not disclose a revenue target, expansion plan, earnings forecast or scheduled operating event. The next results will show whether revenue from operations recovers from Rs 15.51 crore in the September quarter and whether operating cash flow improves after the Rs 4.54 crore half-year outflow.