Autofurnish's FY26 revenue grows 14% but profit stays flat after listing
The auto accessories maker reported standalone revenue of ₹36.86 crore, yet net profit was virtually unchanged at ₹3.21 crore. The company listed on BSE SME in late May.
What's new
- Standalone revenue up 14% to ₹36.86 crore in FY26.
- Net profit nearly flat at ₹3.21 crore vs ₹3.10 crore.
- IPO of ₹14.6 crore listed on BSE SME in May 2026.
Why this matters
For a nano-cap recently listed, flat earnings suggest limited near-term catalyst. Revenue growth hasn't translated into profit improvement, and with a P/E of 18.4 on trailing earnings, the valuation offers no margin of safety from earnings surprises.
What we're watching
- Whether the company can convert revenue growth into profit in coming quarters.
- Any update on order book or margin improvement.
- First-quarter post-listing performance (Q1 FY27) for early signals.
The full read
Autofurnish's first annual results as a listed company show a familiar pattern for nano-caps: revenue growth without profit expansion. Standalone revenue rose 14% to ₹36.86 crore in FY26, but net profit was virtually flat at ₹3.21 crore versus ₹3.10 crore in FY25. The consolidated picture mirrors this: revenue up 18% to ₹39.01 crore, net profit inching to ₹3.63 crore from ₹3.55 crore. Earnings per share slipped to ₹3.22 from ₹3.45. The company completed a ₹14.6 crore IPO on the BSE SME platform in late May, after the reporting period. Auditors gave a clean report. For a ₹64 crore market-cap company trading at 18.4x trailing earnings, these results offer no fresh catalyst. The question now is whether upcoming quarters show the profit growth that FY26 didn't.
Questions answered
- How much did Autofurnish's revenue grow in FY26?
- Standalone revenue rose 14% to ₹36.86 crore from ₹32.26 crore. Consolidated revenue was up 18% to ₹39.01 crore.
- Why did net profit stay flat despite revenue growth?
- The filing does not detail cost pressures, but net profit was virtually unchanged at ₹3.21 crore vs ₹3.10 crore, implying higher expenses or one-time costs absorbed the revenue gain.
- What is the company's current market cap and valuation?
- Autofurnish has a market cap of ₹64 crore, trailing P/E of 18.4, ROE of 23.5%, and a low debt/equity of 0.36.
- When did Autofurnish list and how much did it raise?
- The company raised ₹14.6 crore via an IPO on the BSE SME platform, listing on May 29, 2026.
- What did the auditors say about the financials?
- Statutory auditors Manv & Associates issued an unmodified (clean) opinion on the standalone and consolidated financial statements.