Trejhara standalone half-year profit falls 89% to Rs 41.44 lakh

Trejhara Solutions Limited reported standalone profit after tax of Rs 41.44 lakh for the half year ended 30 September 2026, down 89% from Rs 3.7333 crore a year earlier, while consolidated profit after tax rose to Rs 9.3994 crore from Rs 4.2409 crore. Trejhara consolidates the results of five subsidiaries in its group accounts.

Why did Trejhara's standalone profit fall in the half year?

Trejhara's standalone profit fell as profit before tax declined to Rs 44.78 lakh in the half year ended 30 September 2026 from Rs 5.1507 crore in the corresponding 2025 period. Turnover increased to Rs 60.4467 crore from Rs 59.938 crore, but total income fell to Rs 61.469 crore from Rs 64.0111 crore while total expenses rose to Rs 61.0212 crore from Rs 58.8604 crore.

A material year-on-year movement was foreign exchange. Other expenses included a foreign-exchange loss of Rs 50.74 lakh for the latest half year, compared with a foreign-exchange gain of Rs 3.1853 crore included in other income in the prior-year half. The filing identifies these items in different income and expense lines, without assigning the full change in profit to foreign exchange.

Finance costs rose to Rs 1.9278 crore from Rs 41.57 lakh, while employee-benefit expense declined to Rs 7.6063 crore from Rs 7.9902 crore. Operating expenses also declined to Rs 45.0209 crore from Rs 47.4572 crore, but those reductions did not offset lower other income and higher finance costs.

How did Trejhara's standalone results compare with group results?

Trejhara's consolidated profit after tax was Rs 9.3994 crore for the half year ended 30 September 2026, compared with Rs 4.2409 crore a year earlier, whereas standalone profit was Rs 41.44 lakh. The consolidated accounts include all five subsidiaries under Indian Accounting Standard 110, while the standalone accounts cover the parent company.

Consolidated revenue from operations increased to Rs 145.5895 crore from Rs 66.5662 crore, compared with the parent's increase to Rs 60.4467 crore from Rs 59.938 crore. Consolidated total expenses rose to Rs 135.5218 crore from Rs 64.6679 crore, and consolidated profit before tax increased to Rs 11.1442 crore from Rs 5.9158 crore.

Profit attributable to Trejhara's equity holders was Rs 8.3791 crore, compared with Rs 4.2409 crore in the prior-year half, while non-controlling interests accounted for Rs 1.0203 crore of latest-period consolidated profit. The group reports logistics services, including ancillary software services to logistics companies, as its single reportable segment; exhibition services did not meet the quantitative thresholds for separate disclosure.

What happened in Trejhara's September quarter?

Trejhara reported standalone profit after tax of Rs 21.83 lakh in the quarter ended 30 September 2026, down from Rs 3.4777 crore in the September 2025 quarter but above Rs 19.61 lakh in the June 2026 quarter. Quarterly turnover rose to Rs 33.6016 crore from Rs 30.1135 crore a year earlier.

Profit before tax was Rs 12.41 lakh, versus Rs 4.6229 crore a year earlier and Rs 32.37 lakh in the preceding quarter. Total income was Rs 34.1083 crore, compared with Rs 34.044 crore in September 2025, while total expenses increased to Rs 33.9842 crore from Rs 29.4211 crore.

Other expenses in the September 2026 quarter included a foreign-exchange loss of Rs 29.45 lakh. Other income in the September 2025 quarter included a foreign-exchange gain of Rs 3.2867 crore. Basic and diluted standalone earnings per share were Rs 0.09, compared with Rs 1.48 a year earlier; the filing says quarterly earnings per share are not annualised.

How much did Trejhara lend to subsidiaries?

Trejhara's standalone loans increased to Rs 27.267 crore at 30 September 2026 from Rs 4.8399 crore at 31 March 2026. Its standalone cash-flow statement records net loans given to subsidiaries of Rs 21.1771 crore during the six months ended 30 September 2026, compared with Rs 17.7669 crore in the corresponding prior-year half.

The subsidiary-funding outflow coincided with net cash used in standalone investing activities of Rs 8.866 crore, against Rs 1.6329 crore used a year earlier. Trejhara received Rs 14.3848 crore from sales or redemptions of investments, compared with Rs 4.75 crore in the previous half, but this was below the net subsidiary-loan outflow.

Standalone cash and cash equivalents were Rs 2.3973 crore at 30 September 2026, down from Rs 3.2391 crore at 31 March 2026 and Rs 5.6064 crore at 30 September 2025. Net cash generated from operating activities was Rs 8.8963 crore, compared with Rs 2.5458 crore a year earlier, while financing activities used Rs 87.21 lakh rather than generating Rs 80.56 lakh.

What should readers watch after Trejhara's results?

Trejhara is seeking stock-exchange approvals for its Employees Stock Purchase Scheme, 2026. Its nomination and remuneration committee and board approved the scheme on 21 May 2026, and shareholders approved it through a special resolution on 16 August 2026; the filing states that requisite exchange approvals remain in process.

Trejhara restructured its employee-compensation framework from 1 April 2026 in response to four Labour Codes introduced by the Government of India effective 21 November 2025. The company said Central and State rules remain to be notified and that it will evaluate any consequential accounting adjustments in future periods.

The statutory auditor, Chokshi & Chokshi LLP, issued an unmodified limited-review conclusion on the standalone results for the quarter and half year ended 30 September 2026. Trejhara's board approved both the standalone and consolidated financial results on 6 November 2026.

Conclusion

The half-year figures show a clear difference between parent-company and group performance. Trejhara's standalone turnover rose modestly, but lower other income, a shift from foreign-exchange gain to loss and higher finance costs coincided with lower parent profit, while the five-subsidiary group delivered higher revenue and profit.

The next financial disclosures will show whether the Rs 21.1771 crore of net lending to subsidiaries changes the standalone loan balance, cash position or group results. Trejhara's progress on stock-exchange approvals for its 2026 employee purchase scheme and any accounting effects from pending Labour Code rules are also disclosed matters to watch.