ITI (523610) Q2 25/26 earnings summary

Executive summary

• Unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2025, were approved by the Board on November 13, 2025.

• The company continues to operate under a government-approved revival plan, with significant financial assistance received and ongoing support.

• The business is primarily engaged in telecom equipment manufacturing, trading, servicing, and defense projects, with India as the main market.

Financial highlights

• Consolidated revenue from operations for Q2 FY26 was ₹54,340 lakhs, with total revenue at ₹55,822 lakhs; half-year revenue was ₹1,01,620 lakhs.

• Consolidated net loss for Q2 FY26 was ₹5,436 lakhs, and for the half-year, ₹11,795 lakhs; EPS for the half-year stood at (₹1.23).

• Standalone net loss for Q2 FY26 was ₹5,424 lakhs, and for the half-year, ₹11,754 lakhs; standalone EPS for the half-year was (₹1.22).

• Total comprehensive loss for the consolidated half-year was ₹11,795 lakhs.

Outlook and guidance

• Management asserts the going concern basis is appropriate, citing a high-value order book of ₹18,72,814 lakhs and expected conversion of unbilled revenue of ₹2,03,480 lakhs within 12 months.

• The ASCON Phase IV defense project timeline has been revised to December 2025, with PoC delays now resolved.