Yajur Fibres revenue fell 28%. Over half its IPO cash is still parked.
Standalone profit before tax dropped to ₹10.2 crore. The company has left ₹56 crore of its ₹120 crore IPO raise unspent.
What's new
- FY26 revenue fell 28% to ₹101 crore; standalone profit before tax dropped to ₹10.2 crore from ₹15.1 crore.
- Second-half profit of ₹5.47 crore was stronger than the first-half ₹2.05 crore.
- Over ₹56 crore of the ₹120.4 crore IPO raise remains unspent in fixed deposits.
Why this matters
The annual results confirm a sharp revenue contraction for a company with a market cap of just ₹108 crore. The bigger operational red flag is the idle IPO cash: ₹56 crore parked in fixed deposits means the expansion or working-capital plan promised to public investors at listing hasn't happened. For a nano-cap, unexecuted growth plans and a shrinking top line leave little to support the valuation.
What we're watching
- Whether management provides a timeline or revised plan for deploying the IPO cash.
- If the H2 profit recovery sustains into FY27.
- The next monitoring report on IPO utilisation, given prior execution delays.
The full read
Yajur Fibres' FY26 results are a story of contraction and inaction. Revenue fell 28% to ₹101 crore, shrinking a top line that was already modest against a ₹108 crore market cap. Profit before tax dropped to ₹10.2 crore from ₹15.1 crore. The second half offered some relief at ₹5.47 crore. But the annual trajectory is down. The more damaging detail is the balance sheet. ₹56.2 crore of the ₹120.4 crore IPO raise sits unspent in fixed deposits. That is over 46% of the proceeds, parked idle. A prior monitoring report had already flagged execution delays. Now the audited results confirm the cash hasn't moved. For a nano-cap, this is not just a growth miss. It's an open question about why the money was raised in the first place.
Questions answered
- How did Yajur Fibres perform in FY26?
- Revenue fell 28% to ₹101 crore and standalone profit before tax dropped to ₹10.2 crore from ₹15.1 crore a year earlier. The second half was sequentially better, with profit of ₹5.47 crore versus ₹2.05 crore in the first half.
- What is the status of the IPO proceeds?
- Of the ₹120.4 crore raised in the IPO, ₹56.2 crore remains unspent and is held in fixed deposits. This has been flagged in a prior monitoring report as an execution delay.
- Why is the unspent IPO cash a concern?
- The money was raised from public investors to fund company plans. Parking over half of it in fixed deposits for over a year signals that those projects have not moved ahead, tying up capital that was supposed to drive growth.
- Is the second-half improvement significant?
- It is a sequential improvement, but the full-year profit of ₹10.2 crore still fell from ₹15.1 crore. The H2 number doesn't offset the annual decline, and the first half was weak at ₹2.05 crore.