Winny Immigration & Education Services Ltd narrows half-year loss

Winny Immigration & Education Services Ltd reported an unaudited loss after tax of Rs 1.2476 crore for the half year ended September 30, 2026, narrowing from Rs 4.6288 crore in the preceding half as revenue from operations rose to Rs 1.5259 crore from Rs 45.76 lakh. Revenue remained below Rs 1.7919 crore a year earlier.

How did Winny Immigration & Education Services Ltd perform in the September 2026 half year?

Winny Immigration & Education Services Ltd generated revenue from operations of Rs 1.5259 crore in the half year ended September 30, 2026, compared with Rs 45.76 lakh in the half year ended March 31, 2026. Other income was Rs 8.87 lakh, taking total income to Rs 1.6146 crore, versus Rs 55.96 lakh in the preceding six-month period.

The company recorded a pre-tax loss of Rs 1.2471 crore and a loss after tax of Rs 1.2476 crore for the September half. This compared with a pre-tax loss of Rs 2.7160 crore and a loss after tax of Rs 4.6288 crore in the March 2026 half, when deferred-tax expense was Rs 1.9128 crore.

The sequential revenue recovery did not match the comparable prior-year period. Revenue from operations was Rs 26.60 lakh below the Rs 1.7919 crore reported in the half year ended September 30, 2025, while total income was Rs 33.80 lakh lower than Rs 1.9526 crore. The loss after tax nevertheless narrowed from Rs 1.6983 crore a year earlier.

Basic and diluted earnings per share were both a loss of Rs 5.75 for the September 2026 half, compared with losses of Rs 21.33 in the March 2026 half and Rs 7.83 in the September 2025 half. The company stated that these per-share figures are not annualised and are based on a weighted average of 21.70 lakh shares.

Why did Winny Immigration & Education Services Ltd's loss narrow from the previous half?

Winny Immigration & Education Services Ltd's loss narrowed sequentially because total income increased by Rs 1.055 crore while total expenses declined by Rs 41.39 lakh. Expenses were Rs 2.8617 crore in the September 2026 half, compared with Rs 3.2756 crore in the preceding half, but remained above total income of Rs 1.6146 crore.

Employee-benefit expense, the largest cost line, fell to Rs 1.6811 crore from Rs 1.8586 crore in the March half. Other expenses declined to Rs 1.0872 crore from Rs 1.2327 crore, depreciation and amortisation fell to Rs 9.19 lakh from Rs 17.94 lakh, and finance costs were Rs 15,000 against Rs 49,000.

The year-on-year comparison also shows a lower cost base. Total expenses declined by Rs 1.2140 crore from Rs 4.0757 crore in the September 2025 half, exceeding the Rs 33.80 lakh decline in total income. Employee-benefit expense fell by Rs 1.0750 crore, depreciation and amortisation by Rs 7.49 lakh, and other expenses by Rs 5.73 lakh.

Other income of Rs 8.87 lakh was lower than both Rs 10.20 lakh in the March 2026 half and Rs 16.07 lakh in the September 2025 half. The filing does not provide a separate business-level explanation for the revenue movement because the company identifies immigration and visa services as its only reportable segment.

What changed in Winny Immigration & Education Services Ltd's balance sheet and borrowings?

Winny Immigration & Education Services Ltd reported total assets of Rs 4.0084 crore at September 30, 2026, down Rs 76.75 lakh from Rs 4.7759 crore at March 31, 2026. Cash and bank balances declined by Rs 86.16 lakh to Rs 2.7867 crore, while short-term loans and advances increased by Rs 22.36 lakh to Rs 39.86 lakh.

Short-term borrowings rose to Rs 4.7407 crore at September 30 from Rs 4.0936 crore at the March year-end, an increase of Rs 64.71 lakh. Trade payables to creditors other than micro and small enterprises rose to Rs 21.98 lakh from Rs 13.11 lakh, while other current liabilities increased to Rs 30.04 lakh from Rs 27.40 lakh.

Share capital remained Rs 2.17 crore at both dates. Reserves and surplus showed a deficit of Rs 3.8432 crore at September 30, compared with a deficit of Rs 2.5956 crore at March 31, reflecting the loss recorded during the half year.

Property, plant and equipment fell to Rs 33.09 lakh from Rs 37.75 lakh, while intangible assets declined to Rs 8.71 lakh from Rs 12.50 lakh. Short-term provisions decreased to Rs 27.12 lakh from Rs 55.08 lakh, although long-term provisions increased to Rs 14.91 lakh from Rs 14.60 lakh.

What does Winny Immigration & Education Services Ltd's cash flow and tax disclosure show?

Winny Immigration & Education Services Ltd used Rs 1.5809 crore in operating activities during the half year ended September 30, 2026. The operating outflow followed a pre-tax loss of Rs 1.2471 crore and compared with Rs 4.8263 crore used in operating activities during the year ended March 31, 2026.

The cash-flow statement shows a Rs 22.36 lakh increase in short-term loans and advances during the September half, while short-term provisions decreased by Rs 34.11 lakh. Cash generated from or used in operations was an outflow of Rs 1.5739 crore before Rs 70,000 of income-tax payments.

Investing activities generated Rs 11.97 lakh, including Rs 8.87 lakh of interest income and Rs 4 lakh of fixed-deposit redemption, partly offset by Rs 90,000 spent on property, plant, equipment and intangibles. Financing activities generated Rs 63.96 lakh, alongside a Rs 64.71 lakh increase in current borrowings.

Cash and cash equivalents fell by Rs 82.16 lakh during the period to Rs 2.7866 crore. Fixed deposits with maturities of up to three months accounted for Rs 2.7628 crore, with Rs 1.30 lakh held in bank balances and Rs 1.08 lakh as cash in hand.

Winny Immigration & Education Services Ltd did not recognise deferred-tax assets on carried-forward losses for the September 2026 half. It said sufficient future taxable profits were not virtually certain, supported by convincing evidence, and said it would reassess the position in subsequent periods under Accounting Standard 22, which covers taxes on income.

Conclusion

Winny Immigration & Education Services Ltd's September 2026 results show a sequential improvement in revenue and a smaller loss after tax, supported by lower employee, other and depreciation expenses. However, revenue remained below the September 2025 half-year level, expenses of Rs 2.8617 crore still exceeded total income of Rs 1.6146 crore, and operating activities used Rs 1.5809 crore of cash.

The next reporting periods will show whether revenue can move above the prior-year comparison while short-term borrowings of Rs 4.7407 crore and cash and cash equivalents of Rs 2.7866 crore change. Winny Immigration & Education Services Ltd has also said it will reassess deferred-tax asset recognition when there is convincing evidence of sufficient future taxable profits.