Udayshivakumar Infra posts Rs 6.9221 crore H1 profit

Udayshivakumar Infra Limited reported a profit of Rs 6.9221 crore for the half year ended September 30, 2026, compared with a Rs 6.9122 crore loss a year earlier, as revenue from operations increased 29% to Rs 148.9473 crore. The Board approved the unaudited results on November 14, 2026, and the statutory auditors issued an unmodified limited-review report.

How did Udayshivakumar Infra return to profit in H1?

Udayshivakumar Infra returned to profit as total income reached Rs 149.3382 crore in the half year ended September 30, 2026, against Rs 116.1816 crore in the corresponding 2025 period. Total expenses were Rs 141.7838 crore, resulting in profit before tax of Rs 7.5544 crore, compared with a loss before tax of Rs 9.2388 crore in the previous corresponding half year.

Revenue from operations increased by Rs 33.0758 crore, or about 29%, from Rs 115.8715 crore in the half year ended September 30, 2025. Other income was Rs 0.3910 crore, against Rs 0.3101 crore a year earlier. The financial results show no exceptional items in either half-year comparison, while tax expense was Rs 0.6323 crore in the latest period versus a tax credit of Rs 2.3266 crore a year earlier.

Udayshivakumar Infra reported total comprehensive income of Rs 6.9303 crore for the latest half year, compared with a total comprehensive loss of Rs 6.9122 crore in the prior-year period. Other comprehensive income was Rs 0.0082 crore in the 2026 half year. The company reported that it operates in one segment, so separate segment information under Indian Accounting Standard 108, or Ind AS 108, was not applicable.

What changed in Udayshivakumar Infra’s September quarter?

Udayshivakumar Infra recorded profit of Rs 4.4648 crore in the quarter ended September 30, 2026, compared with Rs 0.8161 crore in the quarter ended September 30, 2025. Quarterly revenue from operations increased to Rs 102.6953 crore from Rs 57.7073 crore, while profit before tax rose to Rs 5.1183 crore from Rs 1.0690 crore.

The September 2026 quarter was also larger than the June 2026 quarter. Revenue from operations rose from Rs 46.2520 crore in June to Rs 102.6953 crore in September, and quarterly profit rose from Rs 2.4573 crore to Rs 4.4648 crore. Total income increased to Rs 102.8747 crore from Rs 46.4633 crore, while total expenses increased to Rs 97.7564 crore from Rs 44.0274 crore.

Construction and operating expense was Rs 94.8802 crore in the September 2026 quarter, up from Rs 36.0092 crore a year earlier. Finance costs fell to Rs 2.4372 crore from Rs 2.6372 crore, and depreciation and amortisation declined to Rs 1.9549 crore from Rs 2.2503 crore. The results therefore show higher project-related expenditure alongside the increase in quarterly revenue and pre-tax profit.

How did Udayshivakumar Infra’s balance sheet change?

Udayshivakumar Infra’s total assets increased to Rs 406.3163 crore at September 30, 2026, from Rs 365.0876 crore at March 31, 2026. Non-current assets rose to Rs 182.1281 crore from Rs 157.2706 crore, while current assets increased to Rs 224.1882 crore from Rs 207.8170 crore. Total equity increased by Rs 6.9299 crore to Rs 177.2374 crore.

Inventory rose to Rs 107.5487 crore at September 30 from Rs 85.5953 crore at March 31. Current trade receivables declined to Rs 11.5159 crore from Rs 22.8936 crore, while non-current trade receivables increased to Rs 58.4350 crore from Rs 50.8909 crore. Cash and cash equivalents increased to Rs 24.8919 crore from Rs 14.7651 crore over the same six-month period.

Current trade payables to creditors other than micro and small enterprises increased by Rs 42.5400 crore to Rs 78.2006 crore. Total current liabilities rose by Rs 36.5483 crore to Rs 158.5995 crore, while current borrowings were broadly unchanged at Rs 57.3404 crore against Rs 57.9099 crore. Non-current borrowings declined to Rs 13.3472 crore from Rs 18.7021 crore.

What do the cash flow and joint-operation disclosures show?

Udayshivakumar Infra ended the half year with Rs 24.8919 crore of cash and cash equivalents, a Rs 10.1268 crore increase from Rs 14.7651 crore at the start of the financial year. The cash-flow statement reported Rs 8.1547 crore used in investing activities and Rs 11.0022 crore used in financing activities during the half year ended September 30, 2026.

Working-capital movements disclosed in the cash-flow statement included a Rs 41.7794 crore increase in trade payables and a Rs 21.9534 crore increase in inventory. The reconciliation included finance cost of Rs 5.0778 crore and depreciation and amortisation of Rs 4.1634 crore. These cash-flow items are separate from the Rs 6.9221 crore profit reported in the income statement.

Udayshivakumar Infra disclosed five joint operations, including Udayshivakumar-Kotarki JV, Udayshivakumar-KMCCL JV and Udayshivakumar-Ganesh JV. Its share of loss in joint operations was Rs 0.0004 crore in the September 2026 quarter and Rs 0.0001 crore in the June 2026 quarter. Management said the information for the half year was based solely on management accounts, had not been reviewed or audited, and was not material to the overall financial results.

What is the status of Udayshivakumar Infra’s IPO proceeds?

Udayshivakumar Infra reported no deviation or variation in the use of proceeds from its March 2023 initial public offering, or IPO. The company raised Rs 65.99 crore through the issue of 1,88,57,142 equity shares at Rs 35 each. The September 30, 2026 disclosure said Rs 45 crore allocated to incremental working-capital requirements had been fully utilised.

Issue expenses of Rs 4.8416 crore had also been fully used. Of Rs 16.1584 crore allocated to general corporate purposes, the company had utilised Rs 10.2895 crore, leaving Rs 5.8689 crore unutilised at September 30, 2026. Udayshivakumar Infra said the unutilised proceeds were temporarily parked in bank accounts and deposits with State Bank of India.

Conclusion

Udayshivakumar Infra’s first-half filing records a shift from a Rs 6.9122 crore loss to a Rs 6.9221 crore profit, supported by a Rs 33.0758 crore increase in revenue from operations. The balance sheet also expanded, with total assets rising by Rs 41.2287 crore, while inventory and current trade payables increased materially during the six months.

The next disclosed matter to watch is the use of the remaining Rs 5.8689 crore of IPO proceeds allocated to general corporate purposes. The next financial update can also show whether the September-quarter revenue of Rs 102.6953 crore is sustained and how inventory of Rs 107.5487 crore and current trade payables of Rs 78.2006 crore change.