Confidence Petroleum Reports Mixed Q2, H1 FY26 Results; Faces Significant Regulatory Challenges
Confidence Petroleum reported mixed Q2 FY26 results with YoY revenue growth but quarterly PAT dip. H1 FY26 showed YoY growth. The company faces a modified audit report, an ongoing Income Tax search, and a significant ₹233.84 crore GST demand notice.
The impact is high due to the 'modified review report' from auditors, which signals potential financial irregularities or concerns. Additionally, the significant GST tax demand of ₹233.84 crore and the unresolved Income Tax search activity pose considerable financial and reputational risks, potentially affecting future operations and investor confidence.
The negative sentiment is driven by the 'modified review report' from the statutory auditors, the sequential decline in consolidated Q2 profit and EPS, and the substantial regulatory challenges including an ongoing Income Tax search with unknown outcome and a large ₹233.84 crore GST demand notice, despite the company's confidence in contesting it.
* Confidence Petroleum India Limited announced the outcome of its Board Meeting held on November 14, 2025, where the Un-audited Standalone and Consolidated Financial Results for the second quarter and half year ended September 30, 2025, were approved. The Statutory Auditors issued a "modified review report" on both standalone and consolidated results. * Consolidated Financial Highlights for Q2 FY26 (ended September 30, 2025): * Revenue from operations was ₹98,301 lakhs, a significant increase from ₹74,576 lakhs in Q2 FY25, but a sequential decrease from ₹1,11,199 lakhs in Q1 FY26. * Profit for the period (PAT) was ₹2,041 lakhs, down from ₹2,175 lakhs in Q2 FY25 and also slightly down from ₹2,045 lakhs in Q1 FY26. * Basic Earnings Per Share (EPS) stood at ₹0.62, compared to ₹0.64 in Q2 FY25. * Consolidated Financial Highlights for H1 FY26 (six months ended September 30, 2025): * Revenue from operations was ₹2,09,500 lakhs, up from ₹1,52,369 lakhs in H1 FY25. * Profit for the period (PAT) was ₹4,086 lakhs, an increase from ₹3,719 lakhs in H1 FY25. * Basic Earnings Per Share (EPS) was ₹1.22, up from ₹1.08 in H1 FY25. * Standalone Financial Highlights for Q2 FY26 (ended September 30, 2025): * Revenue from operations was ₹1,09,154 lakhs, a notable increase from ₹71,074 lakhs in Q2 FY25 and an increase from ₹1,06,351 lakhs in Q1 FY26. * Profit for the period (PAT) was ₹1,963 lakhs, slightly down from ₹1,975 lakhs in Q2 FY25 but up from ₹1,940 lakhs in Q1 FY26. * Basic Earnings Per Share (EPS) was ₹0.59, compared to ₹0.60 in Q2 FY25. * Standalone Financial Highlights for H1 FY26 (six months ended September 30, 2025): * Revenue from operations was ₹2,15,505 lakhs, up from ₹1,48,186 lakhs in H1 FY25. * Profit for the period (PAT) was ₹3,904 lakhs, an increase from ₹3,379 lakhs in H1 FY25. * Basic Earnings Per Share (EPS) was ₹1.17, up from ₹1.06 in H1 FY25. * The company is currently dealing with an Income-Tax search activity conducted in October 2025, for which no written outcome has been received yet. * Confidence Petroleum also received a Show Cause Notice dated September 11, 2025, from the Directorate General of GST Intelligence (DGGI), Mumbai, for a differential tax demand of GST amounting to ₹233.84 crore (₹23,384.84 lakhs) for the period March 2020 to March 2024. The company is in the process of filing submissions and is hopeful of a reversal, citing previous similar quashed notices for July 2017 to February 2020.
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Confidence Petroleum India Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Confidence Petroleum India Limited. Read the original for the full detail.