Mardia Samyoung Capillary Tubes Q2 FY27 Results

Revenue: Rs 23.38 Crore | Net Profit: Rs 0.98 Crore

Reader Takeaway: Strong annual growth masks ongoing auditor concerns regarding unconfirmed trade receivables and payables balances.

What just happened

Mardia Samyoung Capillary Tubes has released its unaudited standalone financial results for the quarter ended September 30, 2026. The company posted revenue of Rs 23.38 crore, down slightly from Rs 24.84 crore in the preceding quarter but showing a substantial recovery compared to the Rs 0.41 crore reported in the same period last year. Net profit stood at Rs 0.98 crore for the quarter, compared to Rs 1.05 crore in Q1 FY27 and Rs 0.02 crore in Q2 FY26.

Auditor Observations

The statutory auditors, S K Bhavsar & Co., have issued a Limited Review Report containing an 'Emphasis of Matter'. The audit noted that key financial balances—including Trade Receivables, Trade Payables, and Loans and Advances—remain subject to confirmation and reconciliation. Because direct confirmations from various counterparties were not received, the auditors stated that any potential impact on the company's financial statements remains unascertainable at this time.

Balance Sheet Highlights

As of September 30, 2026, the company reported total assets of Rs 109.81 crore. A significant portion of these assets is concentrated in trade receivables, which amount to Rs 79.08 crore. Total equity for the same period was reported at Rs 107.76 crore.

What to track next

Investors should focus on management’s progress in reconciling trade balances and debt figures. The resolution of these accounting gaps is essential to ensure transparency and prevent future adjustments that could affect the reported equity and profitability figures.