Valencia India first-half profit rises 36% to Rs 1.3158 crore

Valencia India Limited reported net profit of Rs 1.3158 crore for the half year ended September 30, 2026, up about 36% from Rs 96.77 lakh a year earlier. Valencia India’s revenue from operations increased about 38% to Rs 5.3521 crore, while profit before tax rose to Rs 1.8265 crore.

What were Valencia India’s September-half earnings?

Valencia India earned Rs 1.3158 crore after tax in the six months ended September 30, 2026, compared with Rs 96.77 lakh in the six months ended September 30, 2025. The increase was Rs 34.81 lakh. Basic and diluted earnings per share were Rs 1.01 for the September 2026 half year, compared with Rs 0.88 in the corresponding period a year earlier.

Revenue from operations was Rs 5.3521 crore, against Rs 3.8798 crore in the September 2025 half year. Other income of Rs 9.83 lakh brought total income to Rs 5.4504 crore, while the year-earlier statement reported total income of Rs 3.8798 crore. Valencia India identified hospitality as its sole reportable segment and did not provide a further revenue or profit split.

Profit before tax increased by Rs 18.94 lakh to Rs 1.8265 crore, and the company reported no exceptional or extraordinary items in either September-half period. Tax expense fell to Rs 51.07 lakh from Rs 66.94 lakh. The September 2026 tax charge comprised Rs 33.64 lakh of current tax and Rs 17.43 lakh of deferred tax.

How did Valencia India’s expenses change in the half year?

Valencia India’s total expenses rose to Rs 3.6239 crore in the half year ended September 30, 2026 from Rs 2.2429 crore a year earlier. The Rs 1.3810 crore increase was smaller than the Rs 1.4723 crore rise in revenue from operations, resulting in the increase in pre-tax profit to Rs 1.8265 crore from Rs 1.6371 crore.

Depreciation and amortisation was the largest disclosed year-on-year increase, reaching Rs 97.21 lakh from Rs 38.75 lakh. Other expenses rose to Rs 99.22 lakh from Rs 52.91 lakh, while employee-benefit expense increased to Rs 70.76 lakh from Rs 49.73 lakh. Cost of purchases was Rs 63.97 lakh, compared with Rs 61.13 lakh, and finance cost rose to Rs 31.22 lakh from Rs 21.77 lakh.

Against the immediately preceding six months ended March 31, 2026, revenue from operations increased from Rs 5.05 crore to Rs 5.3521 crore and net profit rose from Rs 1.2311 crore to Rs 1.3158 crore. Total expenses declined from Rs 3.6797 crore to Rs 3.6239 crore, although depreciation and amortisation rose from Rs 28.19 lakh to Rs 97.21 lakh. The company said the March 2026 half-year figures were balancing figures between the audited year ended March 31, 2026 and the published September 2025 half-year results.

What changed in Valencia India’s balance sheet?

Valencia India’s total assets stood at Rs 71.6541 crore at September 30, 2026, compared with Rs 70.8178 crore at March 31, 2026. Non-current assets increased to Rs 64.6622 crore from Rs 63.0056 crore, while current assets declined to Rs 6.9919 crore from Rs 7.8123 crore.

Property, plant and equipment increased to Rs 38.9395 crore from Rs 30.8247 crore over the six-month period. Capital work in progress decreased to Rs 21.7257 crore from Rs 26.8289 crore, and long-term loans and advances declined to Rs 3.9915 crore from Rs 5.3460 crore. Cash and cash equivalents fell to Rs 57.61 lakh at September 30 from Rs 89.14 lakh at March 31.

Shareholders’ funds rose to Rs 57.8450 crore from Rs 56.5293 crore, with reserves and surplus increasing to Rs 44.8454 crore from Rs 43.5297 crore. Equity share capital was unchanged at Rs 12.9996 crore. Long-term borrowings were Rs 7.8968 crore, compared with Rs 7.9130 crore, while short-term borrowings fell to Rs 3.3597 crore from Rs 4.2072 crore.

What do Valencia India’s cash flows and IPO disclosures show?

Valencia India generated Rs 3.1303 crore of net cash from operating activities in the half year ended September 30, 2026, compared with Rs 1.55 lakh for the year ended March 31, 2026. The half-year operating cash flow followed profit before tax of Rs 1.8265 crore and included Rs 97.21 lakh of depreciation and amortisation under the indirect cash-flow method.

Investing activities used Rs 2.2698 crore during the September 2026 half year, principally reflecting Rs 2.4592 crore of net purchases of property, plant, equipment and intangible assets. Interest received in margin money was Rs 9.83 lakh, and fixed deposits marked as lien provided Rs 9.11 lakh. Financing activities used Rs 1.1758 crore, including Rs 86.37 lakh of net repayments of long- and short-term borrowings and Rs 31.22 lakh of finance cost.

The combined operating, investing and financing flows reduced cash and cash equivalents by Rs 31.53 lakh, from Rs 89.14 lakh at the beginning of the period to Rs 57.61 lakh at September 30. Separately, Valencia India said there was no deviation or variation in the use of initial public offering proceeds for the six months ended September 30, 2026. The company’s Audit Committee reviewed and approved that statement on October 31, 2026.

Valencia India reported that its July 2025 initial public offering raised Rs 48.95 crore, including a Rs 4.95 crore offer for sale. Of the funds allocated to stated objects, Rs 37.4211 crore had been utilised for development of 15 villas and a club house, while Rs 7.3295 crore had been utilised for general corporate purposes. The filing listed no modified object, allocation or deviation.

Conclusion

Valencia India’s September-half results show revenue from operations rising to Rs 5.3521 crore and net profit reaching Rs 1.3158 crore, while pre-tax profit rose to Rs 1.8265 crore. The higher earnings coincided with increased depreciation of Rs 97.21 lakh and net operating cash generation of Rs 3.1303 crore, although investment and financing outflows reduced cash by Rs 31.53 lakh.

The next disclosed matter to watch is the development of 15 villas and a club house, for which Valencia India reported full utilisation of the Rs 37.4211 crore allocation by September 30, 2026. The filing confirms no IPO-proceeds deviation but gives no completion date, operating target or timeline for that development.