Glittek Granites Limited , a company operating in the granite industry, has reported its financial results for the second quarter of the fiscal year 2025-26. The company faced challenges during this period, as reflected in its financial performance.

Financial Performance

The company reported a net loss of Rs 40.18 lakhs for the quarter ended September 30, 2025, a significant downturn from the profit of Rs 5.28 lakhs recorded in the previous quarter. This decline in profitability comes alongside a decrease in total income and relatively stable expenses.

Here's a breakdown of the key financial metrics:

All figures in Rs lakhs

Despite the increase in revenue from operations, the company's total income, including other income, decreased from Rs 72.05 lakhs in the previous quarter to Rs 23.02 lakhs in Q2 FY2025-26.

Half-Year Performance

For the half-year period ended September 30, 2025, Glittek Granites reported a cumulative loss of Rs 34.90 lakhs. This marks an improvement compared to the loss of Rs 1,568.51 lakhs recorded in the corresponding period of the previous year.

Balance Sheet Highlights

The company's balance sheet as of September 30, 2025, shows some notable changes:

• Cash and cash equivalents decreased to Rs 601.33 lakhs from Rs 971.67 lakhs as of March 31, 2025.
• The company's total assets stood at Rs 1,212.63 lakhs, down from Rs 1,319.96 lakhs at the end of the previous fiscal year.
• Current liabilities decreased to Rs 79.53 lakhs from Rs 166.29 lakhs.

Board Approval and Audit Review

The Board of Directors of Glittek Granites Limited approved these unaudited financial results at their meeting held on November 10, 2025. The results have undergone a limited review by the company's statutory auditors, M/s. GRV & PK Chartered Accountants, who have issued an unmodified review report.

Outlook

While the company has seen a reduction in its half-yearly losses compared to the previous year, the quarterly performance indicates ongoing challenges. The management may need to focus on cost control measures and revenue enhancement strategies to improve profitability in the coming quarters.

Glittek Granites has reported a turnaround in its financial performance for the first quarter, despite a substantial decrease in revenue. The company's board of directors adopted the unaudited financial results for the quarter ended June 30 during a meeting held on August 13.

Financial Highlights

• Revenue: The company's revenue from operations saw a sharp decline, dropping to Rs 4.68 lakhs from Rs 103.97 lakhs in the same quarter of the previous year.
• Other Income: There was a significant increase in other income, rising to Rs 67.36 lakhs from Rs 4.00 lakhs year-over-year.
• Net Profit: Glittek Granites reported a net profit after tax of Rs 5.28 lakhs, compared to a loss of Rs 314.84 lakhs in the corresponding quarter of the previous year.
• Total Comprehensive Income: The company's total comprehensive income reached Rs 18.02 lakhs, a substantial improvement from a loss of Rs 313.59 lakhs in the same period last year.
• Earnings Per Share: Basic and diluted earnings per share stood at Rs 0.02.

Financial Performance Analysis

Key Observations

1. Revenue Decline: The company experienced a significant 95.50% year-over-year decrease in revenue from operations, which could be a cause for concern.

2. Other Income Boost: A substantial increase in other income, rising by 1,584% year-over-year, played a crucial role in offsetting the revenue decline.

3. Cost Management: Total expenses decreased by 84.29%, indicating effective cost control measures implemented by the company.

4. Profitability Turnaround: Despite the revenue slump, Glittek Granites managed to turn a profit, primarily due to increased other income and reduced expenses.

Additional Information

• The company operates primarily within a single business segment.
• No exceptional items were reported during the quarter.
• The financial results were reviewed by statutory auditors GRV & PK Chartered Accountants, who issued an unmodified review report.

Glittek Granites' ability to achieve profitability despite a significant revenue decline highlights the importance of diversified income streams and effective cost management in challenging market conditions. Investors and stakeholders will likely be watching closely to see if the company can sustain this positive trend and improve its core operational revenue in the coming quarters.