SSDL Board Approves Strong Q2 FY26 Results and Proposes Real Estate Business Diversification
SSDL's board approved strong Q2 FY26 financial results with increased revenue and profit. It also proposed to alter the Memorandum of Association to venture into real estate development, pending shareholder approval.
The positive financial performance for the quarter and half year is a significant short-term positive. The proposed alteration of the Objects Clause to enter the real estate sector represents a major strategic shift with high long-term implications for the company's business model and growth prospects, subject to shareholder approval.
The company reported significant increases in both revenue and profit for the quarter and half year ended September 30, 2025. Additionally, the strategic decision to diversify into real estate development, pending shareholder approval, indicates potential for future growth and new revenue streams.
Saraswati Saree Depot Limited (SSDL) announced the outcomes of its Board Meeting held on November 14, 2025: * The Board approved the Unaudited Financial Results for the quarter and half year ended September 30, 2025. * For the quarter ended September 30, 2025: * Revenue from operations increased to ₹208.39 crore (₹2,083.91 Million) from ₹164.75 crore (₹1,647.50 Million) in the corresponding quarter of the previous year. * Profit for the period rose to ₹10.51 crore (₹105.09 Million) from ₹9.57 crore (₹95.67 Million). * Basic Earnings Per Share (EPS) stood at ₹2.65, up from ₹2.42. * For the half year ended September 30, 2025: * Revenue from operations increased to ₹353.16 crore (₹3,531.62 Million) from ₹295.12 crore (₹2,951.23 Million) in the corresponding half year. * Profit for the period rose to ₹16.86 crore (₹168.61 Million) from ₹15.67 crore (₹156.68 Million). * Basic EPS stood at ₹4.25, up from ₹3.96. * The Board approved a proposal to alter the Objects Clause of the Memorandum of Association to enable the Company to venture into real estate development. This includes activities such as acquisition, sale, construction, leasing, renting, and management of residential, commercial, industrial, and mixed-use properties, as well as development of land, housing projects, integrated townships, and related infrastructure. * This alteration is subject to the approval of shareholders through a Postal Ballot and other necessary approvals. * The Statutory Auditors noted that the interim financial results of an associate (Partnership firm "Saraswati Saree Depot") were not reviewed by their auditors, but this did not modify their conclusion on SSDL's unaudited financial results.
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