Starsource Multitrade reported a net loss of ₹118.55 crore for the financial year ended March 31, 2026, marking a sharp reversal from the ₹34.22 lakh profit recorded in FY25. The company’s revenue from operations stood at ₹52.57 lakh, while other income dropped significantly to ₹23.89 lakh from ₹61.98 lakh in the prior year.

The financial deterioration was primarily driven by substantial losses on investments booked under indirect expenses, which accounted for the vast majority of the total expenditure. Total expenses surged to ₹124.04 crore from ₹12.18 lakh in FY25, with 'Other Expenses' alone reaching ₹119.38 crore. This includes a specific loss on the sale of investments amounting to ₹118.72 crore.

What the Numbers Show

The divergence between the company's operating activities and its investment portfolio is stark. While operational revenue was minimal at ₹52.57 lakh, the balance sheet reflects a massive depletion of liquid assets. Cash and cash equivalents plummeted from ₹106.23 crore to just ₹1.22 lakh during the year. This suggests that the company liquidated significant portions of its investment portfolio, likely triggering the large fair value losses recorded in the statement of profit and loss.

Balance Sheet Signals

Total assets contracted sharply from ₹133.50 crore to ₹18.12 crore. Non-current financial assets, which included inter-corporate deposits of ₹25.08 crore in FY25, were completely derecognized in FY26. Conversely, current assets saw the emergence of trade receivables worth ₹48.84 lakh and loans and deposits of ₹130.41 lakh, indicating a shift in asset composition towards shorter-term instruments and working capital requirements.

Corporate Developments

The fiscal year witnessed a complete change in management following a stake sale by promoters to Atibha Agriseeds Private Limited. The erstwhile Board of Directors resigned effective April 16, 2025. New leadership includes Ruchit Mehta as Managing Director and CEO, and Utsav Trivedi as Executive Director and CFO. The company also announced no dividend for FY26 to conserve funds amidst the losses.

Starsource Multitrade Limited (formerly Chemo Pharma Laboratories Limited) reported its unaudited financial results for the quarter ended June 30, 2026. The company posted a consolidated net profit of ₹6.1 crore against income from operations of ₹86.4 crore. On a standalone basis, net profit was ₹1.3 crore on revenue of ₹18.6 crore.

The Board of Directors approved the results in a meeting held on August 14, 2026. The financial statements were prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013.

Financial Highlights

What the Numbers Show

The divergence between standalone and consolidated figures indicates significant contribution from subsidiaries or associates. While standalone operations generated ₹18.6 crore in revenue, the consolidated top line was ₹86.4 crore, suggesting that the majority of the company's operational activity is captured through its group entities. The consolidated net profit margin stood at approximately 7%, compared to a 7% margin on a standalone basis, indicating consistent profitability across both structures.

Regulatory Disclosures

Pursuant to Regulation 47 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published the unaudited financial results in Business Standard and Mumbai Lakshdeep on August 15, 2026. The results were reviewed by the Audit Committee before board approval.

The full format of the financial results is available on the company's website and the stock exchange portals. Figures have been regrouped and rearranged wherever necessary to align with current period classification.