Below is a structured extraction and summary of the relevant and actionable financial information from the Shipping Corporation of India Land and Assets Limited’s results filing dated 04.11.2025.

1. Auditor’s Note

• The Limited Review Report by A.T. Jain & Co., Chartered Accountants, on the standalone unaudited quarterly and half-year financial results for the quarter ended 30.09.2025 and half year ended 30.09.2025 is unmodified.
• No qualifications, concerns, or issues were raised.
• The review was conducted as per SRE 2410 standards and found no material misstatements.

Conclusion: Auditor’s note is clean with no qualifications.

2. Financial Performance

Standalone Financial Results (Rs. in lakhs)

Margins (Calculated)

Notes:

• The company reported a significant decline in profitability in Q2 FY26 compared to Q1 FY26 and Q2 FY25.
• The net profit for FY25 was a loss of Rs. 18,938 lakhs, largely due to a very high deferred tax expense (Rs. 23,822 lakhs).
• The current half-year FY26 shows a recovery with net profit of Rs. 1,853 lakhs compared to Rs. 2,485 lakhs in H1 FY25.
• EPS remains positive in FY26 quarters and half-year, but was negative in FY25.

3. Detailed Notes / Management Commentary

• The results were prepared as per Ind AS 34 and Companies Act, 2013.
• No exceptional items or changes in accounting policies reported.
• The company follows a practice of balance confirmations for trade receivables/payables; no expected material differences.
• The figures for Q2 FY26 are balancing figures between H1 FY26 and Q1 FY26, both reviewed by auditors.
• Segment definitions:
  • MTI segment: Training institution (training fees as operating income).
  • Corp segment: Investment property (includes HRA & HRR recovery, rent income, interest income).
• No mention of NPAs, slippages, or AUM as this is not a financial services company.
• No material adjustments or caveats noted.

4. Segment Information

Observations:

• MTI segment continues to report losses before tax.
• Others segment is profitable and drives overall profitability.
• Segment assets and liabilities are stable with slight increases in liabilities in Others segment.

5. Capex, Projects, and Corporate Activity

• Capital Expenditure:
  • Q2 FY26: Rs. 38 lakhs spent on property, plant, and equipment/intangible assets.
  • H1 FY26: Rs. 677 lakhs (Q1 + Q2) approx. (Q1 was Rs. 639 lakhs).
• No mention of acquisitions, disposals, impairments, or writebacks.
• No restructuring or strategic shifts disclosed.
• No borrowings or repayments reported during the period.
• Dividend paid in Q2 FY26 was negligible (Rs. 0 lakhs) compared to Rs. 3,068 lakhs in FY25.

6. Standalone vs Consolidated

• Only Standalone financial results are provided and reviewed.
• No consolidated financials included in the filing.

Additional Financial Position Highlights (Standalone Balance Sheet as at 30.09.2025 vs 31.03.2025)

• Cash and cash equivalents increased significantly from Rs. 290 lakhs to Rs. 2,575 lakhs.
• Trade payables increased from Rs. 56 lakhs to Rs. 887 lakhs.
• Other financial liabilities increased from Rs. 1,509 lakhs to Rs. 3,543 lakhs.
• Deferred tax liabilities remain stable (~Rs. 24,000 lakhs).

Summary for Investment Analysis Team

This information should assist in understanding the company’s current financial health, segment-wise performance, and cash flow position for further investment decisions.