Victoria Mills September-quarter profit rises 31% to Rs 3.39 crore

The Victoria Mills Limited reported net profit of Rs 3.39 crore for the quarter ended September 30, 2026, up 31% from Rs 2.59 crore a year earlier and 17% from Rs 2.89 crore in the preceding quarter, while total revenue reached Rs 20.09 crore.

How did Victoria Mills perform in the September 2026 quarter?

Victoria Mills increased profit after tax to Rs 3.39 crore in the three months ended September 30, 2026, from Rs 2.59 crore in the corresponding quarter of 2025. Profit before tax rose to Rs 4.44 crore from Rs 3.37 crore, while current tax increased to Rs 1.05 crore from Rs 78.35 lakh. The company reported no exceptional items, finance costs or profit from discontinued operations in either September quarter.

The September-quarter result also improved from the immediately preceding three months. Net profit was Rs 2.89 crore in the quarter ended June 30, 2026, and profit before tax was Rs 3.74 crore. Total revenue was broadly steady at Rs 20.09 crore in September versus Rs 19.98 crore in June, but total expenses declined to Rs 15.65 crore from Rs 16.24 crore, allowing pre-tax profit to rise by Rs 70.05 lakh.

What drove Victoria Mills’ September-quarter profit increase?

Victoria Mills’ year-on-year profit increase accompanied a Rs 2.09 crore rise in total revenue and a smaller Rs 1.02 crore increase in total expenses. Revenue from operations was Rs 19.50 crore in the September 2026 quarter, compared with Rs 17.50 crore a year earlier, while other income was Rs 59.21 lakh, compared with Rs 49.76 lakh. That combination lifted profit before tax by Rs 1.08 crore.

Material costs were Rs 15 crore, up from Rs 14.03 crore in the September 2025 quarter, but the increase was below the change in total revenue. Employee-benefit expense was Rs 40.35 lakh, compared with Rs 37.11 lakh, while other expenses were Rs 22 lakh, compared with Rs 19.87 lakh. Depreciation and amortisation declined to Rs 2.37 lakh from Rs 2.56 lakh, and finance cost remained nil.

Sequentially, the lower expense base was concentrated in materials and other expenses. Material costs fell by Rs 50 lakh from Rs 15.50 crore in the June 2026 quarter, and other expenses fell by Rs 8.71 lakh from Rs 30.71 lakh. Employee-benefit expense was almost unchanged at Rs 40.35 lakh versus Rs 40.68 lakh, while revenue from operations remained Rs 19.50 crore in both quarters.

How did Victoria Mills perform in the first half of 2026-27?

Victoria Mills reported first-half profit after tax of Rs 6.29 crore for the six months ended September 30, 2026, compared with Rs 4.36 crore in the corresponding six months of 2025. Profit before tax rose to Rs 8.19 crore from Rs 5.69 crore, and current tax increased to Rs 1.90 crore from Rs 1.33 crore. The company disclosed no deferred-tax charge for either half-year period.

Total revenue for the first half was Rs 40.07 crore, compared with Rs 34.50 crore a year earlier. Revenue from operations was Rs 39 crore against Rs 33.75 crore, while other income rose to Rs 1.07 crore from Rs 75 lakh. Total expenses increased to Rs 31.88 crore from Rs 28.81 crore, a smaller absolute increase than the Rs 5.57 crore increase in total revenue.

Other comprehensive income was Rs 4.65 crore in the 2026 half year, compared with Rs 2.70 crore in the prior-year half. As a result, total comprehensive income was Rs 10.94 crore, above Rs 7.05 crore a year earlier. This measure includes net profit and other comprehensive income, so it differs from the reported half-year profit of Rs 6.29 crore.

What do Victoria Mills’ cash flow and balance-sheet figures show?

Victoria Mills reported total assets of Rs 86.96 crore at September 30, 2026, compared with Rs 75.92 crore at March 31, 2026. Total equity was Rs 82.06 crore, up from Rs 71.61 crore at the March year-end. The balance sheet included non-current investments of Rs 41.41 crore and current investments of Rs 30.87 crore at September 30.

Cash and cash equivalents were Rs 1.59 crore at September 30, 2026, compared with Rs 1.43 crore at March 31, 2026. Net cash inflow from operating activities for the six-month period was Rs 19.14 crore, compared with Rs 18.78 crore in the corresponding prior-year period. The cash-flow statement recorded a Rs 11.30 crore inventory-related working-capital movement during the 2026 half year.

Investing activities used Rs 18.49 crore in the first half, versus Rs 17.66 crore in the prior-year period. The company recorded Rs 18.25 crore of net non-current investment outflow and Rs 43.84 lakh of net current investment outflow. Financing activities used Rs 49.28 lakh, reflecting dividend paid including dividend distribution tax, resulting in a net Rs 15.84 lakh increase in cash and cash equivalents.

What did the review and notes disclose about Victoria Mills’ results?

Victoria Mills’ unaudited results were approved by its board and accompanied by a limited review report dated November 6, 2026. Vasani & Thakkar, Chartered Accountants, stated that nothing had come to its attention to indicate that the financial results had not disclosed the required information or contained a material misstatement. A limited review provides moderate assurance and is not an audit opinion.

The company said its activities primarily fall within a single business and geographical segment, so it did not provide additional segment disclosure. It also said provisions for retiring employee benefits for the quarter were made on an actual basis and will be adjusted at the end of the year using an actuarial valuation. Any deferred-tax provision will likewise be made at the end of the year.

Conclusion

Victoria Mills delivered higher September-quarter and first-half profit as revenue increased and the rise in expenses remained lower than the gain in revenue. September-quarter profit after tax rose to Rs 3.39 crore from Rs 2.59 crore, while first-half profit reached Rs 6.29 crore from Rs 4.36 crore. The sequential comparison also showed profit rising from Rs 2.89 crore despite total revenue holding near Rs 20 crore.

The next reported figures to watch are the year-end adjustments identified by Victoria Mills, including the actuarial valuation of retiring employee benefits and any deferred-tax provision.