XL Energy posts Rs 3.71 crore half-year loss to September

XL Energy Limited reported a Rs 3.71 crore loss for the six months ended 30 September 2026, compared with a Rs 54.26 lakh loss a year earlier, after its September-quarter result changed to a Rs 6.42 crore loss from a Rs 2.71 crore profit in the June quarter.

Why did XL Energy report a Rs 3.71 crore half-year loss?

XL Energy reported the Rs 3.71 crore loss because total expenses of Rs 50.66 crore exceeded total income of Rs 46.95 crore in the six months ended 30 September 2026. The statement shows no tax expense and no exceptional item for the half year, leaving the loss before tax and loss for the period at the same Rs 3.71 crore.

The half-year loss widened from Rs 54.26 lakh in the six months ended 30 September 2025. Revenue from operations was Rs 46.84 crore in the latest half year and other income was Rs 11.49 lakh, compared with other income of Rs 22.35 lakh in the corresponding 2025 period. The supplied results do not separately show comparative revenue from operations for the prior-year half year.

The September quarter drove the reversal. XL Energy posted a Rs 6.42 crore loss in the three months ended 30 September 2026 after recording a Rs 2.71 crore profit in the three months ended 30 June 2026; it had recorded a Rs 49.23 lakh loss in the September 2025 quarter. Basic and diluted earnings per share were negative Rs 40.08 for the September quarter and negative Rs 23.14 for the half year.

What changed between XL Energy’s June and September quarters?

XL Energy’s total income fell by Rs 5.90 crore from the June 2026 quarter to the September 2026 quarter, while total expenses increased by Rs 3.23 crore. Revenue from operations declined to Rs 20.41 crore in September from Rs 26.42 crore in June, while other income increased to Rs 11.17 lakh from Rs 32,000.

Changes in inventories of finished goods and work-in-progress were Rs 26.08 crore in the September quarter, up Rs 3.25 crore from Rs 22.82 crore in the June quarter. Finance costs also increased to Rs 67.95 lakh from Rs 29.59 lakh, while other expenses decreased to Rs 18.47 lakh from Rs 59.29 lakh.

For the six months ended 30 September 2026, finance costs were Rs 97.54 lakh, compared with Rs 60.20 lakh in the corresponding 2025 period. Other expenses were Rs 77.76 lakh, versus Rs 76.61 lakh a year earlier. XL Energy identifies its principal activity as other financial service activities, except insurance and pension funding, and reports no separate segment under Indian Accounting Standard 108, Operating Segments.

How did XL Energy’s inventory and liabilities change?

XL Energy’s inventories rose to Rs 48.81 crore at 30 September 2026 from Rs 33.38 crore at 31 March 2026, an increase of Rs 15.42 crore. Current assets consequently rose to Rs 49.12 crore from Rs 34.01 crore, while total assets increased to Rs 49.53 crore from Rs 34.42 crore.

Cash and cash equivalents increased to Rs 2.94 lakh at 30 September from Rs 83,000 at 31 March. Loans and deposits declined to Rs 1.70 lakh from Rs 35.39 lakh, and other current assets were unchanged at Rs 26.74 lakh on both dates.

Borrowings were Rs 785.96 crore at 30 September 2026, up Rs 35.27 crore from Rs 750.69 crore at 31 March 2026. Trade payables to creditors other than micro and small enterprises fell to Rs 12.95 crore from Rs 29.97 crore. Other equity was negative Rs 751.56 crore at September-end, compared with negative Rs 747.86 crore at the March year-end.

What does XL Energy’s half-year cash flow show?

XL Energy used Rs 34.86 crore in operating activities during the six months ended 30 September 2026, compared with Rs 16.82 lakh used in the corresponding 2025 period. Operating loss before working-capital changes was Rs 2.73 crore, compared with a Rs 16.40 lakh loss in the prior-year period.

The cash-flow statement records a Rs 15.42 crore outflow from the increase in inventories and a Rs 17.02 crore outflow associated with trade payables and other related balances. A reduction in loans and deposits generated Rs 33.69 lakh, while other current liabilities used Rs 1.11 lakh, taking cash used in operations to Rs 34.86 crore.

Financing activities provided Rs 34.88 crore in the latest half year, based on the cash-flow statement, including a Rs 35.27 crore increase in short-term borrowings and Rs 39.58 lakh of finance cost. The reported closing cash and cash equivalents balance was Rs 2.94 lakh at 30 September 2026, compared with Rs 83,000 at the beginning of the year.

What is XL Energy’s resolution-plan and listing status?

XL Energy said the National Company Law Tribunal, Hyderabad Bench approved its resolution plan on 19 April 2024. The plan was submitted by a consortium comprising Karishma Jain, Jupiter City Developers (India) Limited and Adwaita Navigations Private Limited, and the Monitoring Committee continued to supervise implementation during the period ended 30 September 2026.

Capital restructuring under the approved plan included cancellation or reduction of erstwhile share capital and issuance or restructuring of 15,21,000 equity shares of Rs 10 each to the successful resolution applicants. It also covered 80,100 equity shares of Rs 10 each for existing public shareholders. Paid-up equity share capital was Rs 1.60 crore at 30 September 2026, unchanged from 31 March 2026.

XL Energy said approvals for listing or re-listing, recommencement of trading and admission of restructured shares remain pending before the National Company Law Appellate Tribunal, Chennai Bench. The Monitoring Committee and newly constituted board approved the unaudited results on 14 November 2026, when XL Energy also appointed Juhi Balani as company secretary and compliance officer.

Conclusion

XL Energy’s half-year results reflect a September-quarter loss after a June-quarter profit, alongside lower quarterly revenue and higher changes in inventory. The Rs 3.71 crore half-year loss coincided with a Rs 15.42 crore increase in inventories, a Rs 35.27 crore increase in borrowings and Rs 34.86 crore of operating cash used.

The next disclosed matters to watch are the remaining compliances under the approved resolution plan and proceedings before the National Company Law Appellate Tribunal, Chennai Bench. XL Energy has said that re-listing, recommencement of trading and admission of the restructured shares remain subject to the outcome of those proceedings and regulatory approvals.