Satchmo Holdings Ltd

Satchmo Holdings Q2 Results: Profit Surge Amid Financial Concerns 📊⚠️

- Standalone Q2 profit after tax: ₹3,654 lakhs (vs. loss of ₹227 lakhs in Q1)

- Standalone total income: ₹990 lakhs (₹885 lakhs from operations, ₹105 lakhs other income)

- Exceptional items boosted profits by ₹3,040 lakhs (impairment reversal: ₹2,867 lakhs)

- Standalone EPS: ₹2.51 (vs. loss per share of ₹0.16 in Q1)

- Negative net worth: ₹91,246 lakhs; negative working capital

- Unpaid statutory dues: TDS ₹25.43 lakhs, VAT ₹1,260.55 lakhs, PF ₹57.43 lakhs

- Debt settlement: ₹7,756 lakhs paid to JCF ARC (₹3,144 lakhs remaining)

- Inventory worth ₹1,485 lakhs not tested for impairment

- Exited two real estate projects (Plaza and Soho); impaired Soho CWIP by ₹7,163 lakhs

- Unfunded gratuity liability creates liquidity risk

- Business shift: Moving from real estate to facilities management, catering, and equity trading

- Auditors issued qualified report citing inadequate risk disclosures