Tilak Ventures Q2 revenue falls 49% as finance income drops

Tilak Ventures Limited reported standalone revenue of Rs 4.53166 crore for the quarter ended 30 September 2026, down 49.3% from Rs 8.93565 crore in the preceding quarter, as commodity-business revenue remained nil and finance-business income fell to Rs 2.96460 crore. Net profit declined to Rs 2.97754 crore from Rs 4.31508 crore.

Why did Tilak Ventures' September-quarter revenue fall?

Tilak Ventures' revenue fell because finance-business income declined while the commodity business reported no revenue for a second consecutive quarter. September-quarter revenue comprised Rs 2.96460 crore from finance activities and Rs 1.56706 crore of other income, compared with Rs 6.48703 crore and Rs 2.44862 crore, respectively, in the quarter ended 30 June 2026.

The year-on-year comparison also shows a changed revenue mix. Total revenue was Rs 8.66300 crore in the quarter ended 30 September 2025, including Rs 4.48000 crore of commodity-business income, Rs 1.83330 crore from finance and Rs 2.34970 crore of other income. Commodity income was therefore absent in the latest quarter after contributing more than half of reported revenue a year earlier.

For the half year ended 30 September 2026, Tilak Ventures recorded total revenue of Rs 13.46731 crore, versus Rs 18.04040 crore in the corresponding prior-year half. Finance income increased to Rs 9.45163 crore from Rs 4.01216 crore, but the prior-year period had Rs 10.36000 crore of commodity-business income, compared with nil in the latest half year.

How did Tilak Ventures' finance business support September-quarter profit?

Tilak Ventures' finance business was the larger reported segment contributor, generating segment profit before tax and interest of Rs 2.00650 crore in the September 2026 quarter. This was lower than Rs 5.69061 crore in the June 2026 quarter but higher than Rs 1.04344 crore in the September 2025 quarter, while finance revenue rose year on year to Rs 2.96460 crore from Rs 1.83330 crore.

The commodity segment reported profit before tax and interest of Rs 74.585 lakh despite nil segment revenue in the latest quarter. Its result compares with a loss of Rs 2.03933 crore in the June 2026 quarter and a profit of Rs 94.088 lakh in the September 2025 quarter, showing that its reported segment result did not move in line with revenue across those periods.

Combined segment profit before tax and interest was Rs 2.75235 crore in the September 2026 quarter, against Rs 3.65128 crore in the preceding quarter. Tilak Ventures then recorded Rs 30.215 lakh of net unallocable expenditure and Rs 1.56706 crore of unallocable income, producing profit before tax of Rs 4.01726 crore, compared with Rs 5.76441 crore in June 2026.

What happened to Tilak Ventures' profit and expenses?

Tilak Ventures reported net profit after tax of Rs 2.97754 crore for the quarter ended 30 September 2026, down from Rs 4.31508 crore in the preceding quarter and Rs 3.38652 crore a year earlier. Current income tax was Rs 95.625 lakh and deferred tax was Rs 8.347 lakh, compared with current tax of Rs 1.44933 crore and no deferred-tax charge in the June 2026 quarter.

Total expenses fell to Rs 51.440 lakh from Rs 3.17124 crore sequentially and Rs 4.49555 crore year on year. The company reported no purchase of stock in trade in the latest quarter, against Rs 71.300 lakh in June 2026 and Rs 6.77971 crore in September 2025, while changes in finished-goods inventory were negative Rs 74.585 lakh.

Employee-benefit expense was Rs 93.362 lakh, compared with Rs 92.003 lakh in the June 2026 quarter and Rs 78.337 lakh a year earlier. Other expenditure was Rs 30.215 lakh, below Rs 33.549 lakh sequentially but above Rs 16.658 lakh in the prior-year quarter. Basic and diluted earnings per share (EPS), which were not annualised, were Rs 0.022, versus Rs 0.032 in June 2026 and Rs 0.076 a year earlier.

What do Tilak Ventures' half-year balance sheet and cash flows show?

Tilak Ventures ended 30 September 2026 with total assets of Rs 240.61372 crore, compared with Rs 231.83016 crore at 31 March 2026. Investments rose to Rs 170.20736 crore from Rs 160.06489 crore, while loans and advances increased to Rs 3.29575 crore from Rs 83.720 lakh and cash and cash equivalents declined to Rs 19.05818 crore from Rs 28.29685 crore.

Total equity was Rs 239.76633 crore at the half-year end, up from Rs 231.37261 crore at 31 March 2026. Commodity-business capital employed rose to Rs 54.64564 crore from Rs 38.11732 crore, while finance-business capital employed declined to Rs 185.12069 crore from Rs 193.25529 crore over the same period.

Net cash flow from operating activities was Rs 2.47897 crore for the half year ended 30 September 2026, compared with an outflow of Rs 1.90147 crore in the prior-year half. Investing activities used Rs 11.82970 crore, including Rs 9.04136 crore for investment purchases and Rs 5.53793 crore for investment property, resulting in a net cash decrease of Rs 9.23867 crore.

The standalone results were approved by Tilak Ventures' board on 4 November 2026 and were subject to a limited review for the half year ended 30 September 2026. The company reported zero investor complaints opened, received, resolved or pending during the September 2026 quarter.

Conclusion

Tilak Ventures' September 2026 quarter showed a smaller revenue base because commodity-business income was nil and finance income declined from the June quarter. Finance remained the largest reported operating segment contributor with Rs 2.00650 crore of segment profit before tax and interest, while total profit after tax fell to Rs 2.97754 crore and other income accounted for Rs 1.56706 crore of revenue.

The filing gives no timetable or plan for restoring commodity-business revenue, leaving the return of that income stream unresolved after two nil-revenue quarters. The next reported period will also show whether finance income recovers from Rs 2.96460 crore and how further investment spending affects cash, which had fallen to Rs 19.05818 crore at 30 September 2026.