SSMD Agrotech half-year revenue rises 37% to Rs 71.69 crore

SSMD Agrotech India Limited reported revenue from operations of Rs 71.69 crore for the half year ended September 30, 2026, up 37% from Rs 52.13 crore a year earlier, while net profit rose 31% to Rs 5.02 crore. The board approved the unaudited standalone results on November 14, 2026.

How did SSMD Agrotech’s revenue and profit change?

SSMD Agrotech increased both revenue and profit in the half year ended September 30, 2026. Revenue from operations rose by Rs 19.56 crore year on year, profit before tax increased by Rs 1.57 crore to Rs 6.76 crore, and net profit grew by Rs 1.18 crore from Rs 3.84 crore.

Total income was Rs 71.72 crore, including other income of Rs 2.52 lakh, compared with Rs 52.13 crore in the half year ended September 30, 2025. SSMD Agrotech reported no exceptional items in either period, leaving profit before tax and profit before extraordinary items and tax at Rs 6.76 crore for the 2026 half year.

Basic earnings per share, which SSMD Agrotech said was not annualised, declined to Rs 5.79 from Rs 6.56 despite the profit increase. Diluted earnings per share also stood at Rs 5.79, compared with Rs 7.17 in the prior-year half, while share capital was unchanged at Rs 8.67 crore at September 30, 2026 and March 31, 2026.

What changed in SSMD Agrotech’s expenses?

SSMD Agrotech’s total expenses rose 38% to Rs 64.96 crore in the September 2026 half year from Rs 46.95 crore a year earlier. Purchases and consumables increased to Rs 79.75 crore from Rs 45.16 crore, while changes in inventories reduced expenses by Rs 18.69 crore compared with a Rs 1.71 crore reduction in the previous-year period.

Direct expenses rose to Rs 1.79 crore from Rs 1.43 crore, and employee-benefit expense increased to Rs 1.02 crore from Rs 90.96 lakh. Other expenses were Rs 60.89 lakh against Rs 53.99 lakh, while depreciation and amortisation declined to Rs 21.50 lakh from Rs 22.43 lakh.

Finance costs fell to Rs 27.54 lakh from Rs 39.70 lakh during the two half-year periods. This was reported alongside short-term borrowings of Rs 5.47 crore at September 30, 2026, up from Rs 61.95 lakh at March 31, 2026, while long-term borrowings fell to Rs 64.16 lakh from Rs 82.66 lakh.

How did working capital affect SSMD Agrotech’s cash flow?

SSMD Agrotech recorded net cash used in operating activities of Rs 6.76 crore for the half year ended September 30, 2026, compared with an outflow of Rs 78.16 lakh a year earlier. The outflow followed an operating profit before working-capital changes of Rs 7.24 crore, up from Rs 5.81 crore in the corresponding 2025 half year.

Inventory growth used Rs 18.69 crore of cash and higher trade receivables used Rs 19.10 crore, partly offset by a Rs 23.86 crore increase in trade payables. In the September 2025 half year, inventories used Rs 1.71 crore, receivables used Rs 12.82 crore and payables provided Rs 7.95 crore.

Cash and cash equivalents declined by Rs 2.63 crore to Rs 10.19 crore at September 30, 2026 from Rs 12.82 crore at the start of the period. Financing activities generated Rs 4.41 crore, led by a Rs 4.85 crore increase in short-term borrowings, while investing activities used Rs 28.54 lakh, including Rs 31.02 lakh for property, plant and equipment.

What does SSMD Agrotech’s balance sheet show?

SSMD Agrotech reported total assets of Rs 84.77 crore at September 30, 2026, compared with Rs 49.35 crore at March 31, 2026. The increase was concentrated in current assets, while property, plant and equipment rose by Rs 9.51 lakh to Rs 1.84 crore.

Inventories increased to Rs 33.99 crore from Rs 15.30 crore, and trade receivables rose to Rs 37.19 crore from Rs 18.09 crore over the six-month period. Cash and cash equivalents were Rs 10.19 crore at September 30, compared with Rs 12.82 crore at March 31.

On the funding side, trade payables to creditors other than micro and small enterprises rose to Rs 27.16 crore from Rs 3.78 crore. Short-term provisions increased to Rs 4.04 crore from Rs 2.08 crore, while reserves and surplus rose to Rs 36.27 crore from Rs 31.25 crore.

What was the review status of SSMD Agrotech’s results?

SSMD Agrotech’s September 2026 half-year financial results were unaudited and subject to a limited review by Chanana & Associates. The statutory auditor’s report dated November 14, 2026 said nothing had come to its attention that caused it to believe the results did not meet the disclosure requirements of Regulation 33 of the Securities and Exchange Board of India listing regulations or contained a material misstatement.

Chanana & Associates said it conducted its work under Standard on Review Engagements 2410, which provides moderate assurance and does not constitute an audit opinion. SSMD Agrotech prepared the interim results under Accounting Standard 25, and stated that it operates in one segment, so no segment-wise revenue, expense or profit disclosure was provided.

Conclusion

SSMD Agrotech converted a Rs 19.56 crore year-on-year increase in half-year revenue into a Rs 1.18 crore increase in net profit for the period ended September 30, 2026. However, the increase in inventories and receivables contributed to an operating cash outflow of Rs 6.76 crore, even as financing activities supplied Rs 4.41 crore.

The next disclosed matter to watch is the monitoring agency report on the utilisation of initial public offering proceeds for the quarter ended March 31, 2026. SSMD Agrotech said its board had not received the report by its November 14, 2026 meeting, so it could not consider or adopt it.