Sarup Industries Reports Q2 FY26 Results: Net Profit Rises to Rs 12.61 Crore

Sarup Industries Limited , a manufacturer of shoes and shoe uppers, has announced its unaudited financial results for the second quarter of fiscal year 2026, ending September 30, 2025. The company reported a modest increase in net profit and revenue compared to the previous quarter.

Financial Highlights

Particulars (in Rs. Lakhs)	Q2 FY26	Q1 FY26	Q2 FY25	H1 FY26	H1 FY25
Net Sales	427.52	392.67	283.58	820.19	643.59
Total Income	427.61	392.79	284.43	820.40	644.46
Total Expenses	415.01	381.18	279.90	796.19	634.76
Net Profit	12.61	11.60	418.52	24.21	423.69
EPS (Basic & Diluted)	0.39	0.36	12.87	0.74	13.03

Key Observations

Revenue Growth

The company's net sales for Q2 FY26 stood at Rs 427.52 lakhs, showing an increase of 8.9% compared to Q1 FY26 and a 50.8% year-on-year growth.

Profit Margins

The net profit margin remained at 2.95% for Q2 FY26, unchanged from Q1 FY26.

Expenses

Total expenses for Q2 FY26 were Rs 415.01 lakhs, with the cost of materials consumed at Rs 84.79 lakhs and finance costs at Rs 30.89 lakhs.

Balance Sheet Changes

As of September 30, 2025, the company's total assets increased to Rs 6,971.31 lakhs from Rs 6,947.10 lakhs in March 2025. Non-current borrowings rose to Rs 3,779.87 lakhs from Rs 3,592.73 lakhs.

Cash Flow

The cash flow statement for H1 FY26 shows a slight decrease in cash and cash equivalents, from Rs 75.61 lakhs at the beginning of the period to Rs 75.56 lakhs at the end.

Management Commentary

The Board of Directors approved these results during a meeting held on November 13, 2025, at the company's office in Jalandhar, Punjab. The results were reviewed by statutory auditors Y.K. SUD & CO, Chartered Accountants.

Outlook

While Sarup Industries has shown improvement in its top-line performance, the company's profitability remains a concern. The increase in non-current borrowings may indicate expansion plans or working capital needs, which investors should monitor closely.

Note: The financial results are unaudited and subject to limited review by the company's statutory auditors.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.70%	+21.11%	+74.44%	+67.68%	+240.00%	+799.74%

Sarup Industries has resubmitted its unaudited financial results for the quarter ended June 30, after an initial filing error. The company, which specializes in manufacturing shoes and shoe uppers, reported a significant increase in net profit and a modest growth in total income from operations.

Resubmission of Financial Results

The company initially filed an Auditor's report instead of the required Limited Review Report along with its Q1 results. Sarup Industries has now rectified this error by resubmitting the unaudited financial results along with the correct Limited Review Report issued by Y.K. SUD & CO, Chartered Accountants, the statutory auditors of the company.

In a statement to the BSE, the company confirmed that there are no changes to the financial figures approved by the board on August 1. The resubmission was made to comply with regulatory requirements and ensure transparency in financial reporting.

Financial Highlights

For the quarter ended June 30, Sarup Industries reported the following key financial metrics:

Particulars	Q1	Q1 (Previous Year)	YoY Change
Net Profit (Rs. Lacs)	11.60	5.18	124.00%
Total Income from Operations (Rs. Lacs)	392.79	360.08	9.10%
Earnings Per Share (Rs.)	0.36	0.16	125.00%

The company witnessed a substantial year-on-year growth in net profit, which more than doubled from Rs. 5.18 lacs in the previous year's Q1 to Rs. 11.60 lacs in the current Q1, representing a 124% increase. This growth in profitability is noteworthy, especially considering the modest 9.1% increase in total income from operations.

Operational Performance

Sarup Industries operates in a single segment, focusing on the manufacturing of shoes and shoe uppers. The company's earnings per share (EPS) for the quarter stood at Rs. 0.36, compared to Rs. 0.16 in the same period last year, reflecting the improved profitability.

Limited Review Report

The Limited Review Report, conducted by Y.K. SUD & CO, Chartered Accountants, stated that based on their review, nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view of the company's affairs. This provides assurance to investors regarding the accuracy and reliability of the reported financial information.

Conclusion

Sarup Industries' Q1 results demonstrate strong profit growth despite moderate revenue increase, potentially indicating improved operational efficiency or cost management. The company's prompt correction of the filing error also reflects its commitment to regulatory compliance and transparent communication with stakeholders.