Heads UP Ventures Limited Stock Analysis

Nine-month consolidated revenue of Rs 1446.12 lakhs demonstrates the company generated meaningful trading activity earlier in FY2025-26, though none in Q3 / Cumulative nine-month net profit of Rs 308.70 lakhs on consolidated basis shows decent profitability for the first two quarters with basic EPS of Rs 1.40 / Zero debt position with no finance costs of significance (Rs 0.00 in Q3 standalone) provides financial flexibility without interest burden / Strong equity capital base of Rs 2208.26 lakhs provides adequate cushion to absorb short-term losses without solvency concerns

Complete absence of revenue in Q3 FY2025-26 (Rs 0.00 revenue from operations and Rs 0.00 other income) signals business operations have effectively ceased during the quarter / Sequential quarterly profit collapse from Rs 78.21 lakhs profit in Q2 to Rs 60.93 lakhs loss in Q3 represents a negative swing of Rs 139.14 lakhs in just one quarter / Operating expenses of Rs 60.93 lakhs in Q3 despite zero revenue indicates poor cost control and inability to rightsize operations when business activity stops / Trading business model with single reportable segment creates high revenue concentration risk, evidenced by complete quarterly revenue volatility / YoY comparison shows Q3 FY2024-25 had Rs 14.50 lakhs revenue versus Rs 0.00 in Q3 FY2025-26, confirming business activity has regressed significantly year-over-year / Other expenses of Rs 57.65 lakhs in Q3 (94.6% of total expenses) are disproportionately high for a zero-revenue quarter, suggesting potential one-time costs or inefficiencies

9M FY26 revenue from operations rose to Rs 1,446.12 lakh from Rs 14.50 lakh in 9M FY25, indicating strong cumulative scale-up. / 9M FY26 PAT increased to Rs 308.70 lakh versus Rs 29.29 lakh in 9M FY25, with EPS improving to 1.40 from 0.13. / 9M profitability remained healthy, with PBT of Rs 335.12 lakh on total income of Rs 1,623.63 lakh (~20.6% pre-tax margin). / No exceptional items were reported in the quarter or nine months, reducing one-off accounting distortion risk. / Finance cost was negligible (Rs 0.00 lakh in the reported quarter and 9M), suggesting low explicit interest burden in the current period.

Q3 FY26 revenue from operations was Rs 0.00 lakh, down from Rs 295.88 lakh in Q2 FY26 and Rs 14.50 lakh in Q3 FY25, signaling severe business volatility. / Q3 FY26 PAT swung to a loss of Rs 60.93 lakh from profit of Rs 78.21 lakh in Q2 FY26 and Rs 25.79 lakh in Q3 FY25; EPS fell to -0.28 from 0.35 QoQ. / Cost base stayed elevated despite zero operating revenue in Q3, including other expenses of Rs 57.65 lakh and employee expense of Rs 3.28 lakh, indicating poor operating leverage. / The company has only one reportable segment (Trading), increasing concentration risk if trading activity weakens. / The filing does not provide cash-flow statement, debt maturity profile, or liquidity buffers for the period, limiting visibility on cash-flow sustainability and financial resilience.