Virgo Polymers revenue drops 62% as profit rises to Rs 13.4 lakh

Virgo Polymers (India) Limited reported Rs 2.321 crore of total revenue for the quarter ended 30 September 2026, 62% below a year earlier, while net profit rose 24% to Rs 13.4 lakh from Rs 10.8 lakh, according to its unaudited standalone results.

What did Virgo Polymers report for the September 2026 quarter?

Virgo Polymers reported revenue from operations of Rs 2.305 crore for the three months ended 30 September 2026, compared with Rs 6.2264 crore in the three months ended 30 September 2025. Other income was Rs 1.72 lakh, versus negative Rs 19.56 lakh a year earlier, resulting in total revenue of Rs 2.321 crore against Rs 6.0308 crore.

Net profit after tax was Rs 13.4 lakh in the September 2026 quarter, compared with Rs 10.8 lakh in the corresponding quarter of 2025. Profit before tax was also Rs 13.4 lakh because the statement recorded no current tax or deferred tax expense for the quarter. Total comprehensive income matched net profit at Rs 13.4 lakh, with no other comprehensive income reported.

The results identify manufacture of Flexible Intermediate Bulk Containers as Virgo Polymers' only reportable business segment. The filing therefore provides no product-level, customer-level or geographical split for the Rs 2.305 crore of operating revenue, and it gives no management explanation for the year-on-year reduction in sales.

How did Virgo Polymers' revenue change from earlier periods?

Virgo Polymers' total revenue fell by Rs 3.7098 crore, or about 62%, from Rs 6.0308 crore in the September 2025 quarter to Rs 2.321 crore in the September 2026 quarter. Revenue from operations declined by Rs 3.9214 crore, or about 63%, from Rs 6.2264 crore to Rs 2.305 crore over the same comparison.

Compared with the immediately preceding June 2026 quarter, operating revenue increased from Rs 84.31 lakh to Rs 2.305 crore and total revenue increased from Rs 1.2299 crore to Rs 2.321 crore. Other income, however, declined from Rs 38.68 lakh in June to Rs 1.72 lakh in September, meaning the quarter-on-quarter increase in total revenue came despite a substantially lower contribution from that line.

How did Virgo Polymers report higher profit on lower revenue?

Virgo Polymers reported higher quarterly profit because total expenses fell to Rs 2.3087 crore in the September 2026 quarter from Rs 6.020 crore in the September 2025 quarter, while profit before tax increased to Rs 13.4 lakh from Rs 10.8 lakh. The statement shows no exceptional items in either of the two September quarters.

Purchases of stock-in-trade declined to Rs 1.538 crore from Rs 4.9405 crore, while raw-material consumption fell to Rs 26.59 lakh from Rs 83.37 lakh. These two expense lines moved lower alongside the reduction in operating revenue, but the filing does not specify whether the changes reflected volumes, procurement prices, product mix or inventory decisions.

Some reported costs increased despite the revenue contraction. Employee-benefit expense rose to Rs 7.55 lakh from Rs 5.06 lakh, and changes in inventories were an expense of Rs 12.20 lakh after a Rs 6.16 lakh credit in the prior-year quarter. Finance cost fell to Rs 1.35 lakh from Rs 6.96 lakh, while depreciation was Rs 2.63 lakh compared with Rs 3 lakh.

Earnings per share, or EPS, was Rs 0.04 for the September 2026 quarter, up from Rs 0.03 a year earlier. Paid-up equity share capital remained Rs 3.4 crore, based on shares with a face value of Rs 10 each. With no tax charge and no other comprehensive income, the increase in EPS followed the rise in net profit.

What do Virgo Polymers' first-half results show?

Virgo Polymers reported Rs 3.552 crore of total revenue for the year-to-date period ended 30 September 2026, compared with Rs 7.9552 crore in the corresponding period of 2025. Revenue from operations was Rs 3.1481 crore, down from Rs 7.8187 crore, while other income rose to Rs 20.35 lakh from Rs 13.65 lakh.

Net profit for the six months ended 30 September 2026 was Rs 15.4 lakh, compared with Rs 18.4 lakh in the corresponding six months a year earlier. The September quarter accounted for Rs 13.4 lakh of the first-half profit, while the June 2026 quarter contributed Rs 2 lakh. Year-to-date EPS was Rs 0.05 in both six-month periods.

The first-half figures show that the quarterly profit increase did not offset the wider revenue contraction across the six months. Total revenue declined by Rs 4.4032 crore year on year, while net profit declined by Rs 3 lakh. As Virgo Polymers reports one segment, the filing does not show whether the first-half movement was concentrated in a particular Flexible Intermediate Bulk Container product line.

What did Virgo Polymers' board and auditor say about the results?

Virgo Polymers' board approved the standalone unaudited financial results for the quarter ended 30 September 2026 on 12 November 2026, following review and recommendation by the Audit Committee. The board meeting began at 3:30 pm and concluded at 4:00 pm, and the company said it had arranged newspaper publication of the results under listing requirements.

Venkat & Rangaa LLP issued a limited review report dated 12 November 2026 on the September 2026 results. The auditor said its review followed Standard on Review Engagement 2410 and consisted primarily of inquiries and analytical procedures, providing moderate assurance rather than the assurance associated with an audit.

The auditor stated that nothing had come to its attention to indicate that the unaudited statement did not disclose required information or contained a material misstatement. It also explicitly said it had not performed an audit and therefore did not express an audit opinion. The results were prepared under Indian Accounting Standard 34, Interim Financial Reporting.

Conclusion

Virgo Polymers' September-quarter filing records a materially reduced operating scale, with revenue from operations falling from Rs 6.2264 crore to Rs 2.305 crore year on year. Yet lower purchases of stock-in-trade and lower finance cost accompanied a rise in quarterly net profit to Rs 13.4 lakh. Across the first half, revenue and net profit were both below the corresponding prior-year period.

The filing does not disclose a revenue target, operating plan or stated reason for the contraction in sales. The next results disclosure will show whether operating revenue moves beyond the Rs 2.305 crore reported for September 2026 and whether the quarterly profit level is sustained in Virgo Polymers' sole reported Flexible Intermediate Bulk Containers segment.