Sprayking Limited , a manufacturer and exporter of brass forged and turn components, has announced its unaudited financial results for the second quarter and half-year ended September 30, 2025. The company's performance shows a mixed picture, with a significant increase in consolidated net profit despite a decline in standalone revenue.

Consolidated Performance Highlights

Sprayking Limited's consolidated financial results for Q2 FY2026 reveal a substantial improvement in profitability:

The company's consolidated net profit for the quarter surged by 352.2% year-over-year, reaching Rs. 410.33 lakh, compared to Rs. 90.75 lakh in the same quarter last year. This significant increase in profitability came despite a 30.4% decline in revenue from operations, which stood at Rs. 1,966.13 lakh for Q2 FY2026.

Standalone Performance

On a standalone basis, Sprayking Limited faced challenges in revenue generation:

The company's standalone revenue from operations decreased by 68.8% to Rs. 497.69 lakh in Q2 FY2026, down from Rs. 1,594.34 lakh in the corresponding quarter of the previous year. Consequently, the standalone net profit also declined by 67.9% to Rs. 14.06 lakh.

Half-Year Performance

For the half-year ended September 30, 2025, Sprayking Limited reported the following consolidated results:

• Revenue from operations: Rs. 4,194.58 lakh
• Net profit: Rs. 475.77 lakh

The half-yearly performance shows a strong improvement in profitability compared to the previous year, despite lower revenue.

Balance Sheet Highlights

As of September 30, 2025, Sprayking Limited's consolidated balance sheet showed:

• Total assets of Rs. 10,120.53 lakh
• Equity share capital of Rs. 2,193.59 lakh
• Other equity of Rs. 1,838.52 lakh

The company maintains a diverse asset base, with significant investments in property, plant, and equipment, as well as ongoing capital work-in-progress.

Conclusion

Sprayking Limited's Q2 FY2026 results present a complex picture, with strong consolidated profit growth contrasting against declining standalone performance. The company's ability to significantly improve its bottom line on a consolidated basis, despite revenue challenges, may indicate successful cost optimization efforts or improved efficiency in its operations. Investors and analysts will likely be watching closely to see if this trend of improved profitability can be sustained in the coming quarters, especially in light of the revenue pressures faced by the standalone entity.

Sprayking Limited has successfully increased its authorized share capital, marking a significant step in the company's financial structure. The decision, approved by shareholders at the 21st Annual General Meeting (AGM) held on September 18, 2025, involves an alteration to the Capital Clause V in the company's Memorandum of Association.

Key Highlights of the Capital Increase

• The authorized share capital has been raised from Rs. 22.00 crores to Rs. 22.50 crores.
• The new capital structure comprises 22.50 crore equity shares, each with a face value of Re. 1.
• Shareholders approved the resolution with an overwhelming majority, with 99.99% votes in favor.

Shareholder Approval and Regulatory Compliance

The company's Managing Director, Hitesh Dudhagara, confirmed the approval through a regulatory notification to BSE Limited on September 23, 2025. This action follows the receipt of the Scrutinizer's Report dated September 20, 2025, which validated the voting process.

Additional AGM Resolutions

During the AGM, several other important resolutions were also passed:

1. Financial Statements Adoption: Shareholders approved the audited financial statements for the fiscal year ending March 31, 2025, along with the reports of the Board and auditors.

2. Director Reappointment: Mrs. Ronak Hitesh Dudhagara was reappointed as a director, with 99.98% of votes in favor.

3. Secretarial Auditor Appointment: M/s. M Rupareliya & Associates were appointed as secretarial auditors for a five-year term, receiving 99.98% approval.

4. Loan and Investment Limits: A special resolution was passed allowing the company to give loans or invest funds exceeding the limits specified under Section 186 of the Companies Act, 2013.

5. Related Party Transactions: Approval was granted for material related party transactions with Narmada Brass Industries.

Implications for Investors

The increase in authorized share capital provides Sprayking Limited with enhanced flexibility for potential future fundraising activities or stock splits, subject to necessary approvals. This move could be seen as a preparatory step for the company's growth plans or capital restructuring initiatives.

Investors and stakeholders should note that this change in authorized capital does not immediately affect the company's outstanding shares or market capitalization but sets the stage for possible future corporate actions.

As Sprayking Limited continues to evolve its capital structure, market participants will be keen to observe how the company utilizes this expanded capacity to fuel its growth strategies and create value for shareholders.