Universus Photo Imagings Limited (UNIVPHOTO)
₹434.00 -1.25% last close, 22 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Universus Photo's revenue was ₹5.5 Cr (+10.3% year on year, +9.6% on the previous quarter), and net profit ₹45.3 Cr (against a loss a year earlier); the operating margin was 14.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹5.5 | +10.3% | +9.6% |
| Operating profit | ₹0.8 | from loss | from loss |
| Net profit | ₹45.3 | from loss | from loss |
| EPS (₹) | 41.41 | from loss | from loss |
| Operating margin | 14.6% | — | — |
UNIVPHOTO exchange data
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📢 Recent Corporate Announcements
Universus Photo Imagings Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate issued by Registrar and Share Transfer Agent KFin Technologies confirms that all dematerialisation requests received between July 1, 2026, and September 30, 2026, were processed within 15 days. Security certificates received were confirmed, cancelled/mutilated, and depositories were substituted as registered owners where applicable. This is a standard quarterly administrative filing with no financial or operational impact.
- Compliance certificate filed under Regulation 74(5) for the quarter ended September 30, 2026
- RTA KFin Technologies confirmed demat requests handled within 15 days of receipt
- Reported coverage period spans July 1, 2026 to September 30, 2026
- Shares involved were confirmed to be listed on respective stock exchanges where earlier shares trade
Universus Photo Imagings responded to an exchange query regarding the non-submission of segment details for the quarter ended 30 June 2026. The company clarified that all its business activities operate under a single segment, namely 'Photo Films'. Consequently, no separate segment reporting was required under SEBI Regulation 33. The filing is procedural and has no impact on previously reported financials.
- Clarified query from exchange regarding Regulation 33 compliance for quarter ended 30 June 2026
- Confirmed operations fall under a single operating segment: 'Photo Films'
- Communication dated 11 September 2026 submitted to NSE and BSE
- No revisions made to the reported Q1 revenue of Rs 5.48 Cr or net profit of Rs 45.33 Cr
Universus Photo Imagings Limited has issued the notice for its 15th Annual General Meeting scheduled for September 30, 2026. Key business items include the adoption of FY26 financial statements and director re-appointments. Notably, the company is seeking shareholder approval for material related party transactions with JPFL Films Private Limited for purchasing goods up to ₹50 crore across FY27, FY28, and FY29. Relative to the company's TTM revenue of ₹20 crore, this maximum purchase authorization represents an aggregate limit 2.5x its current annual revenue scale.
- 15th Annual General Meeting to be held on Wednesday, September 30, 2026, at 11:30 AM in Bulandshahr, UP
- Approval sought for related party transactions with JPFL Films Private Limited for up to ₹50 Crore over FY27 to FY29
- Proposed ₹50 crore limit compares to the company's TTM revenue base of approximately ₹20 crore
- Re-appointment of Independent Director Mr. Sanjeev Aggarwal for a second 5-year term from November 13, 2026, to November 12, 2031
Universus Photo Imagings Limited has scheduled its 15th Annual General Meeting (AGM) for Wednesday, September 30, 2026, at 11:30 AM IST. The company has fixed September 23, 2026, as the cut-off date to determine member eligibility for voting and AGM attendance. Remote e-voting will be available from September 27, 2026 (09:00 AM) to September 29, 2026 (05:00 PM), with book closure from September 24 to September 30, 2026.
- 15th Annual General Meeting scheduled for September 30, 2026, at 11:30 AM IST
- Cut-off date for voting and AGM participation fixed as September 23, 2026
- Share transfer books and register of members closed from September 24 to September 30, 2026
- E-voting period opens September 27, 2026 (09:00 AM) and concludes September 29, 2026 (05:00 PM)
Universus Photo Imagings Limited has announced that its 15th Annual General Meeting (AGM) will be held on Wednesday, September 30, 2026, at 11:30 AM in Bulandshahr, Uttar Pradesh. The cut-off date to determine shareholder voting eligibility is set for September 23, 2026. The share transfer books and register of members will remain closed from September 24 to September 30, 2026. Remote e-voting will run from September 27 to September 29, 2026, with DMK Associates appointed as the scrutinizer.
- 15th Annual General Meeting convened for September 30, 2026, at 11:30 AM IST
- Voting cut-off date fixed as September 23, 2026
- Register of members and share transfer books closed from September 24 to September 30, 2026
- Remote e-voting window active from September 27 (09:00 AM) to September 29, 2026 (05:00 PM)
- Mr. Deepak Kukreja of M/s DMK Associates appointed as the voting scrutinizer
Universus Photo Imagings reported standalone Q1 FY27 revenue of ₹5.48 Cr, a 10% increase from ₹4.97 Cr in Q1 FY26. Standalone profit for the period stood at ₹6.95 Cr, down from ₹8.93 Cr YoY, with profitability heavily supported by 'Other Income' of ₹7.44 Cr which exceeded core operational revenue. The board also approved the re-appointment of Mr. Sanjeev Aggarwal as an Independent Director for a second five-year term starting November 2026. The company remains in a structural transition as digitalization continues to impact its core X-ray film business.
- Standalone revenue from operations for Q1 FY27 was ₹5.48 Cr compared to ₹4.97 Cr in Q1 FY26.
- Other Income of ₹7.44 Cr contributed significantly to the total revenue of ₹12.92 Cr in Q1 FY27.
- Standalone Profit for the period was ₹6.95 Cr, a decline from ₹8.93 Cr in the corresponding previous quarter.
- Mr. Sanjeev Aggarwal re-appointed as Independent Director for a 5-year term from Nov 13, 2026, to Nov 12, 2031.
- Mr. Suresh Kumar re-appointed as Internal Auditor for the financial year 2026-27.
Universus Photo Imagings reported a standalone net profit of ₹6.95 Cr for Q1 FY27 (June 2026), down from ₹8.93 Cr in the year-ago period. Revenue from operations grew slightly to ₹5.48 Cr compared to ₹4.97 Cr in June 2025, but the company remains heavily dependent on 'Other Income' (₹7.44 Cr), which exceeded core operational revenue. The board also approved the re-appointment of Mr. Sanjeev Aggarwal as an Independent Director for a second 5-year term. Despite the quarterly profit, the company faces structural challenges as its core X-ray film business is threatened by digital diagnostics.
- Net Profit for the quarter ended June 30, 2026, stood at ₹6.95 Cr.
- Revenue from operations was ₹5.48 Cr, representing approximately 28% of TTM revenue.
- Other Income of ₹7.44 Cr accounted for 57.6% of the total revenue for the quarter.
- Total expenses decreased to ₹4.71 Cr from ₹5.54 Cr in the corresponding quarter of the previous year.
- Re-appointment of Independent Director Sanjeev Aggarwal approved for a 5-year term starting November 13, 2026.
Universus Photo Imagings reported a standalone net profit of Rs 6.95 Cr for the quarter ended June 30, 2026, a 22% decline from Rs 8.93 Cr in the same period last year. While revenue from operations grew slightly by 10.2% YoY to Rs 5.48 Cr, total revenue was impacted by a significant drop in 'Other Income' to Rs 7.44 Cr from Rs 11.04 Cr. The company continues to rely heavily on non-operational income, which accounted for 57.6% of total revenue this quarter. The board also confirmed the re-appointment of an Independent Director for a five-year term and an Internal Auditor for FY27.
- Standalone Net Profit stood at Rs 6.95 Cr for Q1 FY27 compared to Rs 8.93 Cr in Q1 FY26
- Revenue from operations increased to Rs 5.48 Cr from Rs 4.97 Cr in the year-ago quarter
- Other Income contributed Rs 7.44 Cr, significantly exceeding operational revenue of Rs 5.48 Cr
- Total expenses were reduced to Rs 4.71 Cr from Rs 5.54 Cr YoY
- Re-appointment of Mr. Sanjeev Aggarwal as Independent Director for a 5-year term until November 2031
Universus Photo Imagings Limited received a Show Cause Notice (SCN) from SEBI on August 06, 2026, regarding observations on specific transactions and corporate governance issues. The notice is issued under multiple sections of the SEBI Act, 1992, including those related to fraudulent and unfair trade practices (15HA) and general penalties (15HB). The SCN involves the company, its promoters, and key management personnel. While no financial penalty has been quantified yet, the regulatory scrutiny is significant given the company's small TTM revenue of Rs 19 Cr and substantial TTM losses of Rs 80 Cr.
- Show Cause Notice received from SEBI on August 06, 2026, via email.
- Notice issued under Sections 11(1), 11(4), 11B(1), 15HA, 15HB, and 15A(a) of the SEBI Act, 1992.
- The investigation pertains to certain transactions and matters of corporate governance involving promoters and KMPs.
- Company's TTM revenue is just Rs 19 Cr, making any potential regulatory penalty highly material to its financial health.
- The company is currently in the process of filing a reply to the regulatory authority.
Universus Photo Imagings Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies Limited, confirms that all dematerialization requests received between April 1, 2026, and June 30, 2026, were processed within the mandated 15-day window. This is a standard administrative filing confirming the integrity of the company's share registry and compliance with depository norms. No financial or operational updates were disclosed in this document.
- Compliance period covers the quarter from April 1, 2026, to June 30, 2026
- Demat requests were confirmed or rejected within 15 days of receipt
- Registrar and Share Transfer Agent (RTA) identified as KFin Technologies Limited
- Security certificates were mutilated and cancelled after due verification as per SEBI norms
Universus Photo Imagings Limited has announced the closure of its trading window for all insiders and designated persons starting July 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the upcoming declaration of unaudited financial results for the quarter ended June 30, 2026. The window will remain closed until 48 hours after the financial results are officially released to the stock exchanges. This is a standard regulatory procedure to ensure market integrity before material financial information is disclosed.
- Trading window for dealing in equity shares will be closed starting Wednesday, July 1, 2026.
- The closure is related to the upcoming Unaudited Financial Results for the first quarter ended June 30, 2026.
- The window will reopen 48 hours after the declaration of the financial results.
- The restriction applies to all Insiders and Designated Persons as per the Company's internal code and SEBI regulations.
Universus Photo Imagings Limited reported a significant decline in its financial performance for the fiscal year ended March 31, 2026. Annual net profit fell to ₹1,926 lakhs from ₹3,175 lakhs in the previous year, while revenue from operations decreased from ₹2,460 lakhs to ₹1,878 lakhs. The company's bottom line remains heavily dependent on 'Other Income' (₹2,094 lakhs), which also saw a sharp reduction from the previous year's ₹4,223 lakhs.
- Annual Net Profit declined by 39.3% YoY to ₹1,926 lakhs in FY26.
- Revenue from operations for FY26 fell 23.6% YoY to ₹1,878 lakhs.
- Other Income, a primary profit driver, halved from ₹4,223 lakhs in FY25 to ₹2,094 lakhs in FY26.
- Earnings Per Share (EPS) dropped significantly to ₹17.59 from ₹29.00 in the previous fiscal year.
- Non-current investments increased to ₹400.86 crore, representing the bulk of the company's asset base.
Universus Photo Imagings Limited has responded to a clarification request from the stock exchanges regarding the omission of segment-wise reporting in its financial results for the quarter ended December 31, 2025. The company clarified that its entire business activity falls under a single operating segment, which is 'Photo Films'. This response addresses the query raised under Regulation 33 of the SEBI (LODR) Regulations, 2015. As there are no other reportable segments, the company maintains that separate segment reporting was not applicable for the period.
- Exchange sought clarification on missing segment details for the quarter ended December 31, 2025.
- Company officially confirmed it operates exclusively in the 'Photo Films' segment.
- The clarification was submitted on April 21, 2026, following an exchange query on April 20, 2026.
- Compliance maintained under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations.
Universus Photo Imagings Limited has announced that the National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal filed by a shareholder, Mr. Ankit Jain. The appeal challenged a previous NCLT Allahabad Bench order dated October 15, 2025, which was originally ruled in favor of the company. With the NCLAT dismissing the appeal as withdrawn on April 16, 2026, the original favorable order remains fully operative. The company has confirmed that there are no financial implications or penalties resulting from this legal development.
- NCLAT dismissed the appeal filed by shareholder Mr. Ankit Jain as withdrawn on April 16, 2026.
- The original NCLT Allahabad Bench order dated October 15, 2025, in favor of the company, remains in force.
- Management confirmed zero financial implications or penalties arising from this legal proceeding.
- All pending applications related to Company Petition No. 49/ALD/2022 have been officially disposed of.
Universus Photo Imagings Limited has announced the successful resolution of a legal dispute with a shareholder, Mr. Ankit Jain. Following an initial victory at the NCLT Allahabad on October 15, 2025, the shareholder had filed an appeal with the NCLAT. On April 16, 2026, the NCLAT allowed the withdrawal of this appeal by the petitioner, effectively dismissing the case. This outcome ensures that the previous ruling in favor of the company remains operative and finalizes the litigation process.
- NCLAT allowed the withdrawal of the appeal filed by shareholder Mr. Ankit Jain on April 16, 2026
- The original NCLT Allahabad order dated October 15, 2025, in favor of the company remains fully operative
- The dismissal of the appeal removes a significant legal overhang and potential liability for the company
- The company is currently awaiting the formal written order from the NCLAT for final record-keeping
Financial Performance
Revenue Growth by Segment
The Company operates in a single business segment: photographic products. Standalone revenue from this segment was INR 24.60 Cr (Rs. 2,459.60 Lakhs) for FY25. Total standalone income, which includes fair valuation gains, decreased by 4.99% YoY to INR 66.83 Cr (Rs. 6,682.79 Lakhs) from INR 70.34 Cr (Rs. 7,033.60 Lakhs) in FY24.
Profitability Margins
Standalone Net Profit Ratio improved significantly by 35.58%, rising from 95.19% in FY24 to 129.07% in FY25. This high margin is primarily driven by fair valuation gains on financial assets rather than core photographic sales. Consolidated Profit After Tax saw a massive recovery to INR 87.02 Cr (Rs. 8,701.50 Lakhs) in FY25 compared to a loss of INR 196.35 Cr (Rs. 19,634.80 Lakhs) in FY24, largely due to the share of profit from its associate company.
EBITDA Margin
The Operating Profit Margin (Profit before Depreciation and Tax) stood at 164.56% in FY25, representing a 31.89% YoY improvement from 124.77% in FY24, bolstered by non-operational financial asset gains.
Capital Expenditure
The company made a significant strategic investment of INR 125.19 Cr (Rs. 12,519 Lakhs) in Q2 FY26 by subscribing to a rights issue of its associate company, JPF Netherlands B.V., to maintain its shareholding and support international operations.
Credit Rating & Borrowing
Debt-Equity and Interest Coverage ratios are reported as 'NA' (Not Applicable), indicating the company operates with negligible or no long-term debt, which reduces financial risk in a shrinking core market.
Operational Drivers
Raw Materials
Photographic chemicals and film base materials used for X-Ray film manufacturing. Specific material names and their individual cost percentages are not disclosed.
Raw Material Costs
Standalone cost of materials consumed was INR 11.63 Cr (Rs. 1,163 Lakhs) for the year ended March 31, 2025, supporting the photographic segment revenue of INR 24.60 Cr.
Manufacturing Efficiency
Inventory turnover ratio improved by 13.86% to 2.78 times in FY25 (up from 2.45 times), indicating more efficient movement of stock and better alignment of production with declining demand.
Strategic Growth
Growth Strategy
The company plans to pivot by leveraging a thriving ecosystem of over 4,000 health-tech startups and supportive government initiatives. Growth is also pursued through its associate, JPF Netherlands B.V., evidenced by the INR 125.19 Cr investment in 2025 to sustain its international interests and potential diversified revenue streams.
Products & Services
Manufacturing, selling, and distributing X-Ray films for medical imaging.
New Products/Services
Management has identified the need to launch new products to sustain market presence, though specific product names or expected revenue contributions are not yet disclosed.
Market Expansion
The company is targeting growth through strategic innovation within the health-tech ecosystem, though specific regional targets are not detailed.
Strategic Alliances
Maintains a significant associate relationship with JPF Netherlands B.V. (JPFN), recently reinforced by a major capital infusion of INR 125.19 Cr.
External Factors
Industry Trends
The medical imaging industry is undergoing a massive shift from analog X-Ray films to digital technology. While the traditional business is shrinking, the company is looking toward the health-tech startup ecosystem for future positioning.
Competitive Landscape
The company faces competition from digital imaging providers and health-tech startups that offer film-less diagnostic solutions.
Competitive Moat
The company lacks a durable moat in its core business due to technological obsolescence. Sustainability depends entirely on the successful transition to new products or the performance of its financial investments and associates.
Macro Economic Sensitivity
Highly sensitive to shifts in global trade dynamics and economic circumstances, which require the company to maintain high adaptability to ensure sustained growth.
Consumer Behavior
Swift shifts in consumer and hospital preferences toward digital records are reducing the demand for physical X-Ray films.
Geopolitical Risks
The Russia-Ukraine conflict is specifically cited as a threat that introduces market uncertainties and challenges in maintaining regulatory compliance.
Regulatory & Governance
Industry Regulations
Operations are subject to evolving regulatory changes and compliance requirements in the medical products and photographic chemicals space.
Taxation Policy Impact
The standalone tax expense for FY25 was INR 8.60 Cr (Rs. 860 Lakhs), reflecting an effective tax rate of approximately 21.3% on Profit Before Tax.
Legal Contingencies
The company has disclosed the impact of pending litigations in Note 22 of its financial statements, though the specific aggregate value of these cases is not provided in the summary documents.
Risk Analysis
Key Uncertainties
The primary uncertainty is the viability of the X-Ray film business in a digital-first medical environment, which could lead to a total loss of core operational revenue if new products are not launched.
Technology Obsolescence Risk
High risk; the core product (X-Ray film) is being actively replaced by digital imaging technologies, necessitating a complete business model transformation.
Credit & Counterparty Risk
Debtors turnover ratio decreased by 16.66% to 14.87% in FY25, indicating a potential slowdown in payment collections from customers.
