A marketing services company based out of Chandigarh has reported its half-year financial results for the period ending September 30, 2026. Cash Ur Drive Marketing Limited, formerly known as CASHurDRIVE Marketing Private Limited, submitted the results to the National Stock Exchange following a board meeting held on November 14, 2026, that concluded at 11:30 PM.
The company operates in the business of advertising and publicity and has only one reportable business segment as well as one geographical segment, which is India. Its results come at a time when several of its IPO proceeds are still awaiting deployment, making the half-year update particularly notable for investors tracking fund utilization alongside business performance.
Board Approval and Filing
The Board of Directors met on November 14, 2026, commencing at 9:00 PM and concluded at 11:30 PM at the company's registered office. The board approved and took on record the un-audited, Limited Reviewed, Consolidated and Standalone Financial Results for the half year ended September 30, 2026.
The company's registered office is located at the 4th Floor, SCO 0032, Sector 17C, Chandigarh G.P.O., Chandigarh — 160017, with a corporate office at World Trade Tower, Noida, Uttar Pradesh.
Standalone H1 FY27 Revenue and Profitability
On a standalone basis, Cash Ur Drive Marketing reported revenue from operations of ₹8,032.40 lakhs for the half year ended September 30, 2026, compared to ₹7,787.78 lakhs in the corresponding period of the previous year — a growth of approximately 3.14% year-on-year.
Other income for the period stood at ₹79.21 lakhs, taking total standalone revenue to ₹8,111.61 lakhs. The company's cost of services for the period was ₹5,445.43 lakhs, while employee benefit expense stood at ₹596.97 lakhs.
Finance costs came in at ₹6.35 lakhs and depreciation at ₹25.28 lakhs for the half year. Other expenses, however, saw a sharp jump to ₹462.35 lakhs compared to ₹229.23 lakhs in H1 FY26 — a rise of approximately 101.70% year-on-year — reflecting higher operational outlays during the period.
Standalone Earnings: PBT and PAT
Profit before tax on a standalone basis for H1 FY27 stood at ₹1,575.22 lakhs, compared to ₹1,453.32 lakhs in H1 FY26. After accounting for current tax of ₹405.94 lakhs and a deferred tax credit of ₹1.07 lakhs, profit after tax for the half year came in at ₹1,170.35 lakhs — a growth of approximately 7.59% over the ₹1,087.84 lakhs reported in H1 FY26.
Standalone basic earnings per share for H1 FY27 stood at ₹8.46, compared to ₹7.86 in the same period last year, based on a face value of ₹10 per share.
Standalone EBITDA and Margin
H1 FY26 vs H1 FY27 — Standalone Operating Performance
Standalone EBITDA for H1 FY27 is calculated as follows:
PBT: ₹1,575.22 lakhs + Finance Costs: ₹6.35 lakhs + Depreciation: ₹25.28 lakhs = ~₹1,606.85 lakhs (~₹16.07 crore)
EBITDA margin on revenue from operations: ~₹1,606.85 / ₹8,032.40 × 100 = approximately 20.00%
For comparison, H1 FY26 EBITDA stood at ~₹1,463.52 lakhs (PBT ₹1,453.32 + Finance Costs ₹3.14 + Depreciation ₹7.06), with a margin of approximately 18.79% on revenue from operations of ₹7,787.78 lakhs.
The year-on-year improvement in EBITDA margin — from approximately 18.79% to approximately 20.00% — reflects better operating leverage despite a near-doubling of other expenses during the period.
| Metric | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from Operations | ₹8,032.40 L | ₹7,787.78 L | ~+3.14% |
| Total Revenue (incl. other income) | ₹8,111.61 L | ₹7,896.54 L | ~+2.72% |
| PBT | ₹1,575.22 L | ₹1,453.32 L | ~+8.39% |
| PAT | ₹1,170.35 L | ₹1,087.84 L | ~+7.59% |
| EBITDA (calculated) | ~₹1,606.85 L | ~₹1,463.52 L | ~+9.79% |
| EBITDA Margin | ~20.00% | ~18.79% | +~121 bps |
| Basic EPS (₹) | ₹8.46 | ₹7.86 | ~+7.63% |
Standalone Balance Sheet Highlights
Total assets on a standalone basis stood at ₹18,899.84 lakhs as of September 30, 2026, compared to ₹20,289.04 lakhs as of March 31, 2026. The decline in total assets over the half year is partly attributable to changes in current liabilities structure and working capital movements.
Share capital remained unchanged at ₹1,764.58 lakhs. Reserves and surplus, however, increased to ₹13,041.62 lakhs from ₹11,871.27 lakhs as of March 31, 2026, reflecting the accretion of profits during the period. Cash and cash equivalents as of September 30, 2026 stood at ₹3,234.10 lakhs, slightly lower than ₹3,325.39 lakhs at year-end March 2026.
Trade receivables stood at ₹6,669.54 lakhs as of September 30, 2026. Short-term borrowings remained minimal at ₹16.80 lakhs, suggesting the company continues to operate largely on its own equity and cash flows.
Consolidated Results: Associates Add to the Picture
The consolidated financial results include the company's share of profits from two associates — Charjkaro Greentech Mobility Private Limited (50% stake) and All White Communications LLP (49% stake). These associates are accounted for using the equity method.
Consolidated revenue from operations for H1 FY27 remained at ₹8,032.40 lakhs — the same as standalone, since the company's business structure does not include any wholly-owned operating subsidiaries. Total revenue on a consolidated basis stood at ₹8,111.61 lakhs.
The company's share of profit from associates for H1 FY27 amounted to ₹39.34 lakhs — comprising ₹22.59 lakhs from Charjkaro Greentech Mobility Private Limited and ₹16.75 lakhs from All White Communications LLP — compared to ₹24.47 lakhs in H1 FY26.
Consolidated Profitability
H1 FY26 vs H1 FY27 — Consolidated Profit After Tax
Consolidated profit after tax for H1 FY27, after including the share of associate profits, stood at ₹1,209.69 lakhs, compared to approximately ₹2,964.29 lakhs for the full year ended March 31, 2026. Against H1 FY26 PAT of approximately ₹1,087.84 lakhs, consolidated earnings grew by approximately 11.20% year-on-year.
Consolidated basic EPS for H1 FY27 stood at ₹8.74, compared to ₹7.86 in H1 FY26.
| Metric | H1 FY27 (Consol.) | H1 FY26 (Consol.) |
|---|---|---|
| Revenue from Operations | ₹8,032.40 L | ₹7,787.78 L |
| PBT (before associates) | ₹1,575.22 L | ₹1,453.32 L |
| Share of Associate Profit | ₹39.34 L | ₹24.47 L |
| PAT (after associates) | ₹1,209.69 L | ~₹1,087.84 L |
| Basic EPS (₹) | ₹8.74 | ₹7.86 |
Total consolidated assets stood at ₹19,015.29 lakhs as of September 30, 2026, compared to ₹20,365.16 lakhs as of March 31, 2026. Non-current investments of ₹711.30 lakhs reflect the carrying value of the associate investments.
IPO Proceeds: Deployment Progress
Cash Ur Drive Marketing raised funds through an Initial Public Offering, and the company has submitted a Statement of Utilization of IPO Proceeds detailing cumulative fund deployment as of September 30, 2026, certified by Khurana Sharma and Co., Chartered Accountants.
Out of total planned IPO proceeds of ₹5,809.70 lakhs, the company has utilized ₹4,926.38 lakhs as of September 30, 2026, leaving an unutilized balance of ₹883.32 lakhs.
| Object | Amount Disclosed (₹ Lakhs) | Actual Utilized (₹ Lakhs) | Unutilized (₹ Lakhs) |
|---|---|---|---|
| Investment in Technology | 531.00 | 522.16 | 8.84 |
| Capital Expenditure | 597.49 | 0.00 | 597.49 |
| Funding Working Capital | 3,300.00 | 3,191.20 | 108.80 |
| General Corporate Purposes | 858.41 | 741.26 | 117.15 |
| IPO Expenses | 522.80 | 471.76 | 51.04 |
| Total | 5,809.70 | 4,926.38 | 883.32 |
Notably, the entire capital expenditure allocation of ₹597.49 lakhs remains unutilized as of September 30, 2026. The working capital deployment, however, has progressed to approximately 96.70% of the planned amount.
Auditor's Emphasis of Matter
Both the standalone and consolidated limited review reports issued by Khurana Sharma and Company, Chartered Accountants, Chandigarh, include an emphasis of matter. The auditors have drawn attention to an ITC reversal liability of ₹212.67 lakhs recognized by the company under Section 16(2) of the CGST Act, 2017 on account of non-payment to suppliers within the prescribed period. As of the date of signing the financial statements, the corresponding reversal had not been made on the GST Portal. The auditors noted that their conclusion is not modified in respect of this matter.
Company Background
Cash Ur Drive Marketing Limited, formerly incorporated as CASHurDRIVE Marketing Private Limited, operates in the advertising and publicity space. The company's registered office is in Chandigarh, with its corporate office at World Trade Tower, Noida. As per the financial statements, the company operates as a single segment entity dealing in advertising and publicity and has one primary geographical segment, which is India.
The company has two associate entities — Charjkaro Greentech Mobility Private Limited, in which it holds a 50% stake, and All White Communications LLP, in which it holds a 49% stake. Both associates contributed positively to consolidated profitability in H1 FY27.