Purple United Sales Reports Strong FY26 Results; IPO Proceeds Nearly Fully Utilised
Purple United Sales Limited reported audited standalone financial results for FY26, with revenue from operations rising to ₹17,063.21 lakhs from ₹10,312.75 lakhs and net profit growing to ₹1,519.45 lakhs from ₹1,047.44 lakhs. Total assets expanded to ₹23,197.33 lakhs, while IPO gross proceeds of ₹3,281.04 lakhs were nearly fully utilised with only ₹0.35 lakhs pending in an Axis Bank Escrow account. The Board also appointed M/s. Vikas Bansal & Associates as Internal Auditors for FY 2026-27.

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Purple United Sales Limited convened a Board of Directors meeting on May 09, 2026, at which the audited standalone financial results for the half year and full year ended March 31, 2026 were considered and approved. The statutory auditors, M/s. NGMKS & Associates, Chartered Accountants, issued an Auditor's Report with an unmodified opinion on the financial results. Separately, the company also submitted a disclosure on the utilisation of issue proceeds raised through its Public Issue, certified by the statutory auditors, pursuant to applicable SEBI Listing Regulations. The trading window for dealing in the company's securities is set to reopen for all Designated Persons and their immediate relatives with effect from May 11, 2026.
Financial Performance Overview
Purple United Sales delivered a notable improvement in revenue and profitability for the full year ended March 31, 2026. Total income for the full year reached ₹17,153.45 lakhs, compared to ₹10,315.51 lakhs in the previous year. Revenue from operations for the full year stood at ₹17,063.21 lakhs, up from ₹10,312.75 lakhs. The following table summarises the key financial metrics across reporting periods:
| Metric: | H2 FY26 (Mar 31, 2026) | H1 FY26 (Sep 30, 2025) | H2 FY25 (Mar 31, 2025) | FY26 (Full Year) | FY25 (Full Year) |
|---|---|---|---|---|---|
| Revenue from Operations: | ₹10,990.45 lakhs | ₹6,072.76 lakhs | ₹3,050.10 lakhs | ₹17,063.21 lakhs | ₹10,312.75 lakhs |
| Other Income: | ₹60.90 lakhs | ₹29.34 lakhs | ₹1.94 lakhs | ₹90.24 lakhs | ₹2.76 lakhs |
| Total Income: | ₹11,051.35 lakhs | ₹6,102.10 lakhs | ₹3,052.04 lakhs | ₹17,153.45 lakhs | ₹10,315.51 lakhs |
| Total Expenses: | ₹8,680.77 lakhs | ₹4,813.88 lakhs | ₹2,338.88 lakhs | ₹13,494.66 lakhs | ₹8,242.44 lakhs |
| EBITDA: | ₹2,370.58 lakhs | ₹1,288.22 lakhs | ₹713.16 lakhs | ₹3,658.80 lakhs | ₹2,073.07 lakhs |
| Profit Before Tax: | ₹1,394.41 lakhs | ₹650.74 lakhs | ₹428.98 lakhs | ₹2,045.15 lakhs | ₹1,407.87 lakhs |
| Net Profit After Tax: | ₹1,014.14 lakhs | ₹505.31 lakhs | ₹329.28 lakhs | ₹1,519.45 lakhs | ₹1,047.44 lakhs |
| Basic EPS (₹): | 10.55 | 5.26 | 4.70 | 15.81 | 13.59 |
| Diluted EPS (₹): | 10.55 | 5.26 | 4.77 | 15.81 | 13.59 |
Balance Sheet Highlights
The company's total assets as at March 31, 2026 stood at ₹23,197.33 lakhs, compared to ₹13,110.43 lakhs as at March 31, 2025. Shareholders' funds increased to ₹7,572.68 lakhs from ₹6,053.22 lakhs, driven by growth in reserves and surplus to ₹6,611.70 lakhs from ₹5,092.24 lakhs. Key balance sheet figures are presented below:
| Particulars: | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| Share Capital: | ₹960.98 lakhs | ₹960.98 lakhs |
| Reserves and Surplus: | ₹6,611.70 lakhs | ₹5,092.24 lakhs |
| Total Shareholders' Funds: | ₹7,572.68 lakhs | ₹6,053.22 lakhs |
| Long-term Borrowings: | ₹1,292.14 lakhs | ₹1,073.77 lakhs |
| Short-term Borrowings: | ₹7,379.89 lakhs | ₹2,402.33 lakhs |
| Inventories: | ₹7,313.60 lakhs | ₹1,746.13 lakhs |
| Trade Receivables: | ₹5,962.71 lakhs | ₹6,049.21 lakhs |
| Cash and Bank Balances: | ₹59.47 lakhs | ₹78.93 lakhs |
| Total Assets: | ₹23,197.33 lakhs | ₹13,110.43 lakhs |
Cash Flow Summary
For the year ended March 31, 2026, net cash used in operating activities after working capital changes stood at ₹(928.58) lakhs, compared to ₹(3,523.50) lakhs in the previous year. Net cash used in investing activities was ₹(3,315.07) lakhs, primarily on account of purchase of fixed assets including intangible assets and capital work-in-progress amounting to ₹(2,276.71) lakhs. Net cash from financing activities was ₹4,224.20 lakhs, supported by proceeds from short-term borrowings of ₹4,977.56 lakhs. Cash and cash equivalents at the end of the year stood at ₹59.47 lakhs.
IPO Proceeds Utilisation
Purple United Sales received gross proceeds of ₹3,281.04 lakhs from its Fresh IPO issue of equity shares dated December 18, 2024, with net proceeds of ₹2,893.01 lakhs after deducting issue-related expenses. The statutory auditors, M/s. NGMKS & Associates, confirmed no deviation from the objects stated in the offer document for the half year ended March 31, 2026. The utilisation of IPO proceeds as at March 31, 2026 is summarised below:
| Object: | Projected Utilisation (₹ Lakhs) | Actual Utilisation till Mar 31, 2026 (₹ Lakhs) | Balance to be Utilised (₹ Lakhs) |
|---|---|---|---|
| Issue Expenses: | 388.03 | 388.03 | NIL |
| Working Capital Requirements: | 1,800.00 | 1,800.00 | NIL |
| Expenditure for Opening New Stores: | 535.40 | 535.40 | NIL |
| General Corporate Purpose: | 557.61 | 557.26 | 0.35 |
| Total: | 3,281.04 | 3,280.69 | 0.35 |
The remaining unutilised amount of ₹0.35 lakhs is held in an Escrow account maintained with Axis Bank Ltd., and the company is in follow-up with the bank for withdrawal of these proceeds. The auditors confirmed that all utilisation is as per the disclosures in the offer document, the means of finance for the disclosed objects have not changed, and no major deviation was observed over earlier monitoring agency reports.
Internal Auditor Appointment
The Board also approved the appointment of M/s. Vikas Bansal & Associates (Firm Registration No. 032441N) as Internal Auditors of the company for Financial Year 2026-27, pursuant to the recommendation of the Audit Committee. The firm is a multidisciplinary chartered accountancy practice offering services including Audit & Assurance, Tax and Regulatory Advisory & Compliance, Finance Process Outsourcing, and Secretarial support. The appointment was effective May 09, 2026, for the term of Financial Year 2026-27.
The company is engaged in the business of trading of lifestyle products, with all operations located and conducted within India. As the business activities fall within a single business and geographical segment, no separate segment reporting disclosure is required. The company reported no investor complaints during the period under review, and no exceptional or extraordinary items were recorded during the reporting periods.
Historical Stock Returns for Purple United Sales
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +10.00% | +34.87% | +21.57% | -29.12% | +80.96% | +80.31% |
With short-term borrowings surging nearly 3x to ₹7,379.89 lakhs and inventories jumping to ₹7,313.60 lakhs, how sustainable is Purple United Sales' working capital strategy if revenue growth moderates in FY27?
Given that the company has fully deployed its IPO proceeds and is now relying heavily on debt financing for expansion, what are the likely sources of capital for funding new store openings beyond FY26?
With revenue from operations growing 65% year-over-year but cash and bank balances declining to just ₹59.47 lakhs, what liquidity risks could the company face if its short-term borrowing lines tighten?



























