5449062026-07-012026-09-305449062026-09-305449062026-03-315449062026-04-012026-09-305449062026-07-012026-09-30in-capmkt:OtherExpenses1Member5449062026-04-012026-09-30in-capmkt:OtherExpenses1Member5449062026-09-30OtherNoncurrentFinancialAssetsDomain15449062026-09-30OtherNoncurrentAssetsDomain15449062026-09-30OtherCurrentFinancialAssetsDomain15449062026-09-30OtherCurrentAssetsDomain15449062026-09-30OtherNoncurrentFinancialLiabilitiesDomain15449062026-09-30OtherNoncurrentFinancialLiabilitiesDomain25449062026-09-30OtherCurrentFinancialLiabilitiesDomain15449062026-09-30OtherCurrentFinancialLiabilitiesDomain25449062026-09-30OtherCurrentLiabilitiesDomain15449062026-07-012026-09-30in-capmkt:ReportableSegments1Member5449062026-07-012026-09-30in-capmkt:ReportableSegments2Member5449062026-04-012026-09-30in-capmkt:ReportableSegments1Member5449062026-04-012026-09-30in-capmkt:ReportableSegments2Member5449062026-07-012026-09-30in-capmkt:ReportableSegments1Member5449062026-07-012026-09-30in-capmkt:ReportableSegments2Member5449062026-04-012026-09-30in-capmkt:ReportableSegments1Member5449062026-04-012026-09-30in-capmkt:ReportableSegments2Member5449062026-07-012026-09-30in-capmkt:ReportableSegments1Member5449062026-09-30in-capmkt:ReportableSegments1Member5449062026-07-012026-09-30in-capmkt:ReportableSegments2Member5449062026-09-30in-capmkt:ReportableSegments2Member5449062026-07-012026-09-30in-capmkt:ReportableSegments1Member5449062026-09-30in-capmkt:ReportableSegments1Member5449062026-07-012026-09-30in-capmkt:ReportableSegments2Member5449062026-09-30in-capmkt:ReportableSegments2Member5449062026-07-012026-09-30ItemsThatWillBeReclassifiedToProfitAndLoss15449062026-04-012026-09-30ItemsThatWillBeReclassifiedToProfitAndLoss1iso4217:INRiso4217:INRxbrli:shares544906MOMSBELIEFNOTLISTEDINE1FCO01014RAYS OF BELIEF LIMITEDMain BoardEquity2026-04-012027-03-312026-11-122026-11-05INRMillionsQuarterlySecond quarterGeographical2026-11-1217:30:002026-11-1217:55:00trueCash Flow IndirectNot applicable2026-07-012026-09-30UnauditedConsolidated27090000026500002735500000001134500005880000978000097120000226230000473200000473200006860000597000012830000034490000000034490000195000036440000344900003644000020902000010220022The standalone and consolidated financial results of the Company for the quarter and half year ended September 30, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 12, 2026. The Statutory Auditors of the Company have carried out a limited review of these financial results. <br /> <br /> The above standalone and consolidated financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, and in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. <br /> <br /> The figures for the quarter and half year ended September 30, 2025 have been prepared by the Management and approved by the Board of Directors, but have not been subjected to limited review or audit by the Statutory Auditors, as the Company was not listed during that period. <br /> <br /> The standalone operations of the Company fall primarily in the business of providing therapy plans and programs for children with neurodevelopmental challenges, including Autism Spectrum Disorder (“ASD”), Attention-Deficit/Hyperactivity Disorder (“ADHD”), Down Syndrome (“DS”), Cerebral Palsy (“CP”), Intellectual Disability (“ID”), Learning Disabilities (“LD”), and Global Developmental Delays (“GDD”), which is considered by management to be the single reportable segment. For consolidated operations, the Group has two operating segments (India and USA), which have been determined and presented on a geographical basis. <br /> <br /> During the quarter, the Company completed its Initial Public Offering of 5,230,000 fresh equity shares of face value Rs. 10 each at an issue price of Rs. 239 per share (including a premium of Rs. 229 per share), aggregating Rs. 1,249.97 million. The equity shares were allotted on September 4, 2026 and listed on NSE and BSE on September 8, 2026. Share issue expenses of Rs. 121.23 million have been adjusted against securities premium in accordance with Ind AS 32. <br /> <br /> The unaudited results of the Company for the quarter and half year ended September 30, 2026 are also available on the Company’s website (www.momsbelief.com) and on the website of BSE Limited (www.bseindia.com) and National Stock Exchange of India Limited (www.nseindia.com) <br /> <br /> Significant events during the half year ended September 30, 2026:a) The Company was listed on the National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”) on September 8, 2026.b) Mom’s Belief US Inc., the wholly owned subsidiary of the Company, acquired 100% of the shareholding of City Pro Group Inc. with effect from September 18, 2026. Consequent to the aforesaid acquisition, City Pro Group Inc. became a wholly owned subsidiary of Mom’s Belief US Inc. and, accordingly, a step-down wholly owned subsidiary of the Company.c) During the half year ended September 30, 2026, the Company made an investment aggregating to USD 2,000,000 (United States Dollars Two Million only) in Mom’s Belief US Inc., its wholly owned subsidiary. The investment has been recorded in the standalone financial statements in accordance with the applicable Indian Accounting Standards and the Company’s accounting policies. <br /> <br /> Earnings per share for the quarters and half years are not annualised. <br /> <br /> Mom's Belief US Inc. acquired 100% of the shareholding of City Pro Group Inc. on September 18, 2026 for a total consideration of USD 2,060,630.62 (Rs. 197.39 million), of which USD 800,000 (Rs. 76.79 million at the closing rate) is deferred and included under other financial liabilities (current). The deferred consideration, being a non-cash transaction, has been excluded from investing cash flows. The acquisition has been accounted for provisionally in accordance with Ind AS 103 "Business Combinations"; goodwill of Rs. 197.78 million recognised as at September 30, 2026 is subject to adjustment within the measurement period of one year from the acquisition date. <br /> <br /> During the quarter, the Company issued unlisted, redeemable non-convertible debentures aggregating Rs. 150 million, backed by the personal guarantee of the Managing Director. The outstanding debentures are classified under current borrowings. <br /> Previous period figures have been regrouped / reclassified wherever necessary to conform to the current period classification. <br /> The Company has opted for the concessional tax regime under Section 115BAA of the Income-tax Act, 1961. No current tax is payable by the Company for the half year ended September 30, 2026 on account of set-off of brought forward business losses and unabsorbed depreciation; tax expense in the standalone results comprises deferred tax. <br /> <br /> The consolidated figures for the quarter and half year ended September 30, 2025 include the results of Mom's Belief US Inc. from June 23, 2025, the date of its acquisition, and the consolidated figures for the quarter and half year ended September 30, 2026 include the results of City Pro Group Inc. from September 18, 2026. To that extent, the figures are not comparable. <br /> <br /> 2026-04-012026-09-30UnauditedConsolidated5240400003150000527190000000221890000832000020610000191550000442370000848200000848200001134000011120000224600000623600000000623600001220000635800006236000063580000209020000103.83.8003.83.8Other Expenses97120000Other Expenses19155000018890000248400000430000136800000034200003420000447800003758000036718000000283010000216600000691410000040370000123139000026200004644700001698480000206566000020902000013173600001526380000152638000022690000161100003880000094000004820000019936000014900008072000082210000130410000411980000519800003120000240000004910800005392800002065660000Other Financial Assets3420000Right-of-use assets37580000Other Financial Assets40370000Other current assets464470000Lease Liabilities14990000Other Financial Liabilities1120000Lease Liabilities25680000Other current financial liabilities104730000Other current liabilities51980000India125270000USA145630000India250180000USA27386000027090000052404000000270900000524040000India28750000USA24450000India50560000USA42580000532000009314000058800008320000004732000084820000India1528500000USA4865400002015040000506200002065660000India317850000USA221450000539300000-2000053928000000-1028700000-4256800000052300000451900000369400000206100007000001700000-407000000025200000000074100000-418890000-3340700000001700000-3342400000120710000000000270000557000000000136800000000000000007800000-661130000-80004000000127479000000000190130000415000018630000025400000-1212700001318330000184050000018405000032550000216600000-160000-440000 Income tax relating to items that will not be reclassified to Profit or Loss-40000-40000 Income tax relating to items that will not be reclassified to Profit or Loss-110000-110000-1830000-89000019500001220000