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Shanti Gold Q3 FY26 Net Profit Rises 11% QoQ to ₹3.38 Crore; Revenue up 12%
Shanti Gold International reported a steady growth in its financial performance for the quarter ended December 31, 2025. Revenue from operations increased by 11.9% sequentially to ₹202.01 crore compared to ₹180.41 crore in the previous quarter. Net profit for the quarter stood at ₹3.38 crore, reflecting a growth of 10.9% over the ₹3.05 crore reported in Q2 FY26. The company, which listed in August 2025, continues to maintain its growth trajectory in the gold ornament manufacturing and wholesaling segment.
Key Highlights
Revenue from operations grew 11.9% QoQ to ₹202.01 crore in Q3 FY26.
Net Profit increased to ₹3.38 crore from ₹3.05 crore in the preceding quarter.
Total income for the nine months ended December 2025 reached ₹502.38 crore.
Earnings Per Share (EPS) for the quarter stood at ₹0.56 on a face value of ₹10.
Total expenses for the quarter were ₹197.84 crore, with cost of materials being the primary driver.
💼 Action for Investors
Investors should monitor the company's ability to maintain margins amidst fluctuating gold prices and competitive pressures in the wholesale market. As a newly listed entity, consistent quarterly performance is a positive sign for long-term stability.
Shanti Gold Q3 FY26 Net Profit Rises 8.6% QoQ to ₹8.44 Crore; Revenue Up 9.2%
Shanti Gold International reported a steady performance for the quarter ended December 31, 2025, with revenue from operations reaching ₹113.67 crore, a 9.2% increase from the previous quarter. Net profit for the period stood at ₹8.44 crore, up from ₹7.77 crore in Q2 FY26. The company, which listed in August 2025, maintains a single-segment focus on gold ornament manufacturing and wholesaling. For the nine-month period, total income reached ₹312.26 crore with a cumulative net profit of ₹23.12 crore.
Key Highlights
Revenue from operations grew 9.2% QoQ to ₹113.67 crore in Q3 FY26
Net profit increased to ₹8.44 crore compared to ₹7.77 crore in the preceding quarter
Earnings Per Share (EPS) improved to ₹1.40 from ₹1.29 in Q2 FY26
Total income for the nine months ended December 2025 stood at ₹312.26 crore
Profit Before Tax (PBT) for the quarter was healthy at ₹11.31 crore
💼 Action for Investors
Investors should monitor the company's ability to sustain this growth momentum post-IPO and track gold price volatility which may impact margins. The steady quarter-on-quarter growth is a positive signal for this recent market entrant.
Aarti Industries Q3 FY26: PAT Surges 25% Q-o-Q to ₹133 Cr; Exports Hit Record 65% of Revenue
Aarti Industries reported a strong Q3 FY26 performance with revenue growing 11% Q-o-Q to ₹2,492 crore and PAT rising 25% to ₹133 crore. Export contribution reached a record 65% of total revenue, driven by the resumption of US volumes and growth in MMA and DCB products. The company is aggressively expanding MMA capacity to 360 KT by Q4FY26 and has revised its FY26 CAPEX guidance upward to ₹1,100 crore to capture high-return opportunities. Management expects structural tailwinds from the India-US trade deal and China's 'anti-involution' strategy which is curbing chemical dumping.
Key Highlights
Revenue increased 11% Q-o-Q to ₹2,492 crore, while EBITDA rose 11% to ₹323 crore.
PAT surged 25% Q-o-Q to ₹133 crore, despite a ₹15 crore exceptional provision for the new labour code.
MMA capacity is being scaled up from 290+ KT to 360 KT by the end of Q4FY26.
Exports reached an all-time high of 65% of total revenue in both percentage and absolute terms.
FY26 CAPEX guidance increased to ₹1,100 crore from ₹1,000 crore, with FY27 CAPEX expected to be significantly lower.
💼 Action for Investors
Investors should view the volume recovery in the US and the capacity expansions in MMA and DCB as positive growth catalysts. The company's pivot toward high-value advanced materials and the expected margin recovery from reduced Chinese competition make it a strong long-term pick in the specialty chemicals space.
Satin Finserv Mobilizes ₹260 Cr in 3 Months; NCD Limit Tripled to ₹600 Cr
Satin Finserv (SFL), a wholly-owned subsidiary of Satin Creditcare, has demonstrated strong fundraising momentum by mobilizing approximately ₹260 crores over the last three months. The company successfully issued ₹50 crores in NCDs and received shareholder approval to triple its NCD issuance limit from ₹200 crores to ₹600 crores. As of December 2025, SFL maintains a robust Capital Adequacy Ratio of 36.1% and an AUM of ₹728 crores. This strategic push aims to diversify the group's portfolio into MSME and sustainability financing, reducing overall concentration risk.
Key Highlights
Mobilized ~₹260 crores in the last 3 months, marking the company’s strongest fundraising performance.
Shareholder approval granted to increase NCD issuance limit from ₹200 crores to ₹600 crores.
Successful issuance of ₹50 crores in NCDs with a retail-friendly face value of ₹10,000.
Maintains a strong Capital Adequacy Ratio of 36.1% and an AUM of ₹728 crores as of December 2025.
SFL operates 121 branches across 14 states with a focus on MSME and green financing.
💼 Action for Investors
Investors should monitor the scaling of the MSME book as it provides a higher-margin diversification play for the parent company. The strong capital adequacy and successful fundraising indicate high lender confidence in the subsidiary's growth trajectory.
All Time Plastics Highlights 39,000 MT Capacity and Bamboo Expansion in Investor Update
All Time Plastics (ATPL) reported an annual installed capacity of 39,000 tonnes with a 76.6% utilization rate for the nine months ending December 2025. The company is diversifying its portfolio by entering the engineered bamboo segment through a pilot facility in Guwahati and a strategic MoU with NECBDC. ATPL continues to leverage its 'China+1' advantage, exporting to 29 countries while maintaining energy-neutral operations. The presentation underscores a strong focus on high-volume, automated manufacturing and sustainable material usage.
Key Highlights
Total annual installed capacity reached 39,000 tonnes following a 2,000 MT expansion at the Khatalwada plant in December 2025.
Capacity utilization stood at 76.6% for 9MFY26, with 21,244 MT of polymers processed during the period.
The company operates 169 injection moulding machines, with 76% being energy-efficient all-electric models.
Strategic entry into the bamboo consumerware market via a pilot facility in Guwahati and a partnership with NECBDC.
Maintains 100% energy-neutral manufacturing facilities with over 25% of products made from recycled plastics in FY25.
💼 Action for Investors
Investors should monitor the ramp-up of the Khatalwada facility and the commercial viability of the new bamboo-based product line. The company's focus on recycled materials and energy neutrality positions it well for ESG-conscious global retail contracts.
Everest Industries Appoints Lakshmana Rao Challa as Head of Manufacturing & Supply Chain
Everest Industries has appointed Mr. Lakshmana Rao Challa as the Head of Manufacturing Operations & Supply Chain Management for its Fibre Cement Plants, effective February 9, 2026. Mr. Challa brings over 27 years of extensive experience in the building materials and automotive sectors, having held leadership positions at prominent firms like Saint-Gobain and DCM Shriram Group. His expertise spans greenfield setups, Lean Six Sigma, and operational excellence, which is expected to strengthen the company's production efficiency. This appointment is part of the company's strategy to bolster its senior management team and drive sustainable growth in its core business segments.
Key Highlights
Mr. Lakshmana Rao Challa appointed as Head of Manufacturing Operations & Supply Chain for Fibre Cement Plants effective February 9, 2026
Appointee brings over 27 years of experience in building materials and automotive industries
Previously served as a Founding and Executive Committee member and Head of Operations at Saint-Gobain India
Expertise includes managing greenfield and brownfield manufacturing setups and multi-plant operations
Educational background includes Mechanical Engineering and PGDBA in Operations Management with leadership training from XLRI
💼 Action for Investors
Investors should view this as a positive step towards improving operational efficiency and supply chain management in the core Fibre Cement segment. Monitor for improvements in manufacturing margins and operational excellence over the next few quarters.
All Time Plastics Q3 Revenue Up 7% YoY; Announces ₹10 Cr Investment in Bamboo Products
All Time Plastics reported a 7.1% YoY increase in consolidated revenue to ₹159.40 crore for Q3 FY26. Net profit for the quarter declined by 23.6% YoY to ₹9.17 crore, primarily due to a one-time exceptional item of ₹4.37 crore related to IPO expenses. A significant strategic update includes the commencement of commercial production for bamboo-based products, supported by a newly approved investment of ₹10 crore. Despite the YoY profit dip, the company showed strong sequential growth with PAT rising 124% compared to Q2 FY26.
Key Highlights
Revenue from operations increased to ₹159.40 crore in Q3 FY26 from ₹148.82 crore in Q3 FY25.
Net Profit (PAT) stood at ₹9.17 crore, impacted by a ₹4.37 crore exceptional listing-related expense.
Board approved a fresh investment of ₹10 crore for the expansion into bamboo-based product manufacturing.
Nine-month (9M FY26) revenue grew to ₹464.78 crore, up from ₹409.92 crore in the previous year.
Finance costs for 9M FY26 rose to ₹12.91 crore compared to ₹10.15 crore in 9M FY25.
💼 Action for Investors
Investors should look past the one-time IPO-related hit to profitability and focus on the company's diversification into sustainable bamboo products. Monitor the margin profile in upcoming quarters to see if the new bamboo segment can offset rising material and finance costs.
Aarti Pharmalabs Declares ₹1.5 Interim Dividend; Record Date Set for Feb 16, 2026
Aarti Pharmalabs Limited has announced an interim dividend of ₹1.5 per equity share for the financial year 2024-25, representing a 30% payout on the face value of ₹5. The decision was finalized during the Board of Directors meeting held on February 09, 2026. The company has designated February 16, 2026, as the record date to identify shareholders eligible for the payout. This move reflects the company's commitment to returning value to its shareholders through consistent payouts.
Key Highlights
Interim dividend of ₹1.5 per equity share declared for FY 2024-25
Dividend payout is 30% of the face value of ₹5 per share
Record date for dividend eligibility is fixed as February 16, 2026
Board meeting for the declaration took place on February 09, 2026
💼 Action for Investors
Investors interested in the dividend must ensure they hold the shares before the ex-dividend date, typically one working day prior to the February 16 record date. Long-term investors should view this as a positive sign of cash flow management.
Aarti Pharmalabs Q3 Net Profit at ₹47.96 Cr; Declares ₹1.50 Interim Dividend
Aarti Pharmalabs reported a consolidated net profit of ₹47.96 crore for the quarter ended December 31, 2025, a decline from ₹73.99 crore in the corresponding quarter of the previous year. Consolidated revenue from operations stood at ₹274.11 crore, which was impacted by ₹49.35 crore of revenue being deferred to Q4 due to goods being in transit. The company has declared an interim dividend of ₹1.50 per share (30% of face value). An exceptional item of ₹2.79 crore was recorded due to provisions for new labour codes.
Key Highlights
Consolidated Net Profit for Q3 FY26 stood at ₹47.96 crore, down 35% YoY from ₹73.99 crore.
Revenue from operations was ₹274.11 crore, with an additional ₹49.35 crore in-transit revenue deferred to Q4.
Declared an interim dividend of ₹1.50 per equity share with a record date of February 16, 2026.
Exceptional charge of ₹279.49 lakhs recognized for incremental provision under new labour codes.
Consolidated EPS for the quarter fell to ₹5.29 from ₹8.16 in the year-ago period.
💼 Action for Investors
Investors should monitor the Q4 results closely to see if the deferred revenue of ₹49.35 crore translates into a strong recovery in profitability. While the dividend provides some support, the year-on-year decline in earnings suggests a cautious approach until margins stabilize.
Aarti Pharmalabs Declares ₹1.5 Interim Dividend; Q3 Net Profit Rises to ₹47.96 Crore
Aarti Pharmalabs has declared an interim dividend of ₹1.5 per equity share (30% of face value) for FY 2025-26, with the record date set for February 16, 2026. For the quarter ended December 31, 2025, the company reported a consolidated net profit of ₹47.96 crore, a significant increase from ₹27.92 crore in the previous quarter. Although consolidated revenue dipped sequentially to ₹273.37 crore, the company noted that ₹49.35 crore in revenue was deferred to Q4 due to goods being in-transit. An exceptional provision of ₹2.79 crore was also made for new labour code compliance.
Key Highlights
Declared interim dividend of ₹1.5 per equity share (30% on face value of ₹5)
Consolidated Net Profit grew to ₹47.96 crore in Q3 FY26 from ₹27.92 crore in Q2 FY26
Revenue of ₹49.35 crore deferred to Q4 FY26 due to goods in-transit at quarter-end
Exceptional item of ₹2.79 crore provisioned for impact of new labour codes
Record date for dividend eligibility fixed as Monday, February 16, 2026
💼 Action for Investors
Investors should benefit from the dividend payout and the strong bottom-line growth. The deferred revenue from in-transit goods suggests a potentially robust Q4, supporting a positive outlook for the stock.
Credo Brands (MUFTI) Q3 FY26 PAT Drops 61.7% YoY to ₹7 Cr Amid Muted Demand
Credo Brands Marketing (MUFTI) reported a weak set of numbers for Q3 FY26, with revenue declining 6% YoY to ₹146.1 crore. Net profit saw a sharp contraction of 61.7% to ₹7 crore, primarily driven by a 770 bps drop in EBITDA margins to 22.9%. The company faced headwinds from soft consumer sentiment during the festive season and margin pressure due to GST-related price adjustments on products below ₹2,500. Management is pivoting towards a 'MUFTI 2.0' strategy focusing on premiumization and increased marketing spend, which is expected to weigh on near-term profitability.
Key Highlights
Revenue for Q3 FY26 fell to ₹146.1 crore from ₹155.5 crore in the previous year.
PAT declined significantly to ₹7.0 crore in Q3 FY26 compared to ₹18.3 crore in Q3 FY25.
Gross Margin contracted to 56.5% from 61.9% YoY due to passing on GST benefits to customers.
Total EBO count stood at 446 stores as of December 31, 2025, with 12 stores under the new retail identity.
Management plans to increase advertising and branding spend to 8-10% of revenues from the current 5.2%.
💼 Action for Investors
Investors should exercise caution as the company faces significant margin pressure and declining sales in a muted retail environment. The focus should be on whether the 'MUFTI 2.0' premiumization and increased digital marketing spend can successfully revive growth and justify the near-term earnings hit.
Credo Brands (MUFTI) Q3 FY26 PAT Drops 62% YoY to ₹7.0 Cr Amid Margin Pressure
Credo Brands (MUFTI) reported a weak set of numbers for Q3 FY26, with revenue declining 6% YoY to ₹146.1 crore and PAT falling sharply by 62% to ₹7.0 crore. The performance was impacted by a muted festive season and a contraction in EBITDA margins from 30.6% to 22.9%. The company is undergoing a 'MUFTI 2.0' transformation focused on premiumization, having opened 12 new-identity stores. Management expects near-term profitability to remain under pressure as they increase advertising spend to 8-10% of revenue to strengthen long-term brand equity.
Key Highlights
Q3 FY26 Revenue decreased 6% YoY to ₹146.1 crore; 9M FY26 Revenue down 8% to ₹429.7 crore.
PAT for Q3 FY26 slumped 62% YoY to ₹7.0 crore, with PAT margins narrowing to 4.8% from 11.8%.
Gross Profit margins fell to 56.5% in Q3 from 61.9% YoY, impacted by GST reforms and passing tax benefits to consumers.
Inventory days increased to 166 days as of December 2025, up from 133 days in March 2025.
D2C channel showed strength with own-website sales growing by approximately 87% during the first nine months of FY26.
💼 Action for Investors
Investors should exercise caution as the company faces significant margin compression and a slowdown in the apparel sector. While the 'MUFTI 2.0' premiumization strategy is a long-term positive, the planned increase in marketing spend will likely weigh on earnings in the coming quarters.
Shanti Overseas CFO Pankaj Agrawal Resigns Effective February 9, 2026
Shanti Overseas (India) Limited has announced the resignation of Mr. Pankaj Agrawal from the position of Chief Financial Officer (CFO). The resignation is effective from the close of business hours on February 09, 2026. The departure is attributed to personal reasons and the pursuit of other professional opportunities. As a Key Managerial Personnel (KMP), his exit marks a significant change in the company's top leadership team.
Key Highlights
Mr. Pankaj Agrawal resigned as Chief Financial Officer effective February 09, 2026
Resignation is due to personal reasons and seeking further professional opportunities
Compliance filing completed under Regulation 30 of SEBI (LODR) Regulations, 2015
The company has not yet announced a successor for the CFO role
💼 Action for Investors
Investors should watch for the appointment of a new CFO to ensure a smooth transition in financial management. A timely replacement is necessary to maintain stability in the company's financial reporting and strategic planning.
Credo Brands (MUFTI) Q3 Net Profit Drops 61.7% YoY to ₹70.19 Million
Credo Brands Marketing Limited reported a weak set of numbers for Q3 FY26, with revenue from operations declining 6% YoY to ₹1,461.34 million. The company's net profit saw a sharp contraction of 61.7% YoY, falling to ₹70.19 million from ₹183.49 million in the previous year. Profitability was further dampened by a one-time exceptional expense of ₹13.97 million arising from the implementation of New Labour Codes. For the nine-month period ended December 2025, net profit stands at ₹321.94 million, significantly lower than the ₹545.80 million recorded in the same period last year.
Key Highlights
Revenue from operations decreased by 6% YoY to ₹1,461.34 million in Q3 FY26.
Net profit after tax plummeted 61.7% YoY to ₹70.19 million.
Recorded an exceptional item of ₹13.97 million due to past service costs under New Labour Codes.
Quarterly Basic EPS declined to ₹1.07 compared to ₹2.81 in the same quarter last year.
Total expenses for the nine-month period remained relatively flat at ₹3,918.40 million despite lower revenue.
💼 Action for Investors
Investors should exercise caution as the company is witnessing a decline in both sales and margins. It is advisable to wait for management's outlook on demand recovery in the premium casual wear segment before making new positions.
Tube Investments Q3 FY26: Standalone PBT Grows 26% to ₹268 Cr; ₹2 Dividend Declared
Tube Investments of India (TII) reported a robust Q3 FY26 with standalone revenue increasing to ₹2,152 Cr and PBT rising 26% YoY to ₹268 Cr. The core engineering segment remains the primary growth driver, while the mobility division turned profitable at the PBIT level. Management reaffirmed commitment to its TI2 strategy (EV, CDMO, and Medical) despite execution delays, while subsidiary CG Power continues to deliver strong consolidated performance with ₹3,175 Cr in revenue.
Key Highlights
Standalone PBT grew 26% YoY to ₹268 Cr with an impressive annualized ROIC of 49%.
Engineering segment revenue rose to ₹1,438 Cr, driven by strong domestic demand despite a 50% effective duty on US exports.
Mobility business achieved a PBIT of ₹4 Cr, recovering from a loss of ₹0.8 Cr in the previous year.
Subsidiary CG Power reported a 26% revenue growth to ₹3,175 Cr with a profit of ₹420 Cr.
Board declared an interim dividend of ₹2 per share for the financial year 2025-26.
💼 Action for Investors
Investors should remain positive on the stock as the core engineering business and CG Power subsidiary provide strong cash flows while the company navigates the longer gestation period of its EV and CDMO ventures. Monitor the scaling of the 3xper (CDMO) facility which is expected to start production in the next three months.
VST Tillers Reports Strong Q3 FY26: Revenue Up 44%, PAT Surges to ₹30.7 Cr
VST Tillers Tractors delivered a robust performance in Q3 FY26, with revenue growing 44% YoY to ₹314 Cr. The company achieved its highest-ever 9-month turnover of ₹912 Cr, driven by a 55% surge in power tiller volumes. Profitability improved significantly, with Q3 PAT rising to ₹30.7 Cr from just ₹1.7 Cr in the previous year. While domestic tractor sales grew by 18% in the 9-month period, export markets remained a drag with a 23% decline.
Key Highlights
9M FY26 revenue reached a record ₹912 Cr, marking a 32% YoY growth compared to ₹693 Cr.
Power Tiller sales volume grew by 85.2% in Q3 FY26, reaching 12,545 units.
Operational EBITDA margin for 9M FY26 improved to 13.1% from 10.2% in the previous year.
Cash generation from operations turned positive at ₹108 Cr versus a deficit of ₹35 Cr in 9M FY25.
Power weeder sales saw a massive 107.6% growth in Q3 FY26, selling 3,429 units.
💼 Action for Investors
The stock is likely to react positively to the strong volume growth in tillers and weeders and the sharp recovery in margins. Investors should monitor the sustainability of this growth and the recovery of the export tractor segment.
Euro Pratik Reports 15.87% Market Share and Expansion to 3,438 SKUs in 9MFY26
Euro Pratik Sales Limited, a leader in the organized decorative wall panels industry with a 15.87% market share, released its 9MFY26 investor presentation highlighting its asset-light business model. The company has expanded its product portfolio to 3,438 SKUs and 3,000+ designs, supported by 36+ contract manufacturers globally. Revenue for 9MFY26 is dominated by decorative wall panels at 66.5%, with South India contributing the largest regional share at 42.2%. The company continues to leverage its dual-brand strategy (Euro Pratik and Gloirio) to target upper-middle and luxury segments.
Key Highlights
Holds a 15.87% market share in the organized decorative wall panels industry as of FY23.
Product portfolio grew to 3,438 SKUs in 9MFY26, a significant increase from 2,810 in FY23.
Operates an asset-light model with 36+ contract manufacturers across India, South Korea, USA, and Europe.
Distribution network spans 138 cities with 188 distributors in India and 2 in Nepal.
Revenue mix for 9MFY26 consists of 66.5% decorative wall panels and 26.9% decorative laminates.
💼 Action for Investors
Investors should focus on the company's ability to maintain its market leadership and high ROCE through its asset-light manufacturing model. Monitor the success of recent international expansions in the UAE and USA as potential long-term growth catalysts.
Tinna Rubber Q3FY26 Revenue Rises 13% YoY; EBITDA Margins Expand to 16.3%
Tinna Rubber reported a consolidated revenue of ₹389 crore for 9MFY26, with EBITDA margins expanding by 110 bps to 16.7%. Standalone PAT for the nine-month period reached ₹36 crore, reflecting a 12.5% growth compared to the previous year. The company secured a major ₹75.79 crore order from IOCL and is aggressively expanding its international footprint in Oman, Saudi Arabia, and South Africa. Management's focus on high-margin value-added products and renewable energy (targeting 50% share by FY27) positions the company for sustainable growth.
Key Highlights
Consolidated revenue for 9MFY26 stood at ₹389 crore, with EBITDA margins improving to 16.7% from 15.6% YoY.
Secured a significant two-year work order from IOCL valued at ₹75.79 crore for Crumb Rubber Modifier supply.
Completed ₹79 crore in Capex during 9MFY26, with an additional ₹50 crore planned for the remainder of FY26 and FY27.
International operations in Oman achieved 93% capacity utilization in Q3FY26, contributing ₹25 crore to 9MFY26 revenue.
Renewable energy usage reached 24% of total power consumption, targeting over 50% by FY27 to drive cost savings.
💼 Action for Investors
Investors should maintain a positive outlook given the strong margin expansion and robust order book from IOCL. Monitor the breakeven of the South African JV expected in March 2026 and the scale-up of the new PCMB business segment.
Euro Pratik Q3 FY26 PAT Rises 17% YoY to ₹23.6 Cr; EBITDA Margins Hit 43.1%
Euro Pratik Sales Ltd reported a 7% YoY revenue growth to ₹80.4 Cr for Q3 FY26, supported by a robust 26.1% increase in EBITDA. Profit After Tax (PAT) grew 16.9% YoY to ₹23.6 Cr, although 9M FY26 PAT remains 9.2% lower than the previous year due to earlier performance. The company achieved significant margin expansion, with EBITDA margins reaching 43.1% compared to 36.5% in the same quarter last year. Strategic moves include the acquisition of a 51% stake in Uro Veneer World and the launch of several new product series to drive B2C growth.
Key Highlights
Revenue from operations grew 7% YoY to ₹80.4 Cr, despite a 16.8% sequential decline from Q2 FY26.
EBITDA surged 26.1% YoY to ₹34.6 Cr, with margins expanding to 43.1% from 36.5% in Q3 FY25.
PAT increased 16.9% YoY to ₹23.6 Cr, maintaining a strong PAT margin of 29.4%.
Acquired a 51% stake in Uro Veneer World in December 2025 to enhance B2C market scale.
Launched multiple new product lines including Canfour Series, Decolite, and Leatherlite to refresh the portfolio.
💼 Action for Investors
Investors should focus on the sustainability of the high 43% EBITDA margins and the integration of the Uro Veneer World acquisition. The company's asset-light model and market share in the organized segment remain key strengths.
Kriti Industries Q3 FY26: Revenue Drops 35% YoY to ₹1,358 Mn; EBITDA Turns Positive
Kriti Industries reported a challenging Q3 FY26 with revenue declining 35.3% YoY to ₹1,358 Mn, primarily due to a 29% drop in sales volumes across its core agriculture segment. Despite the revenue contraction, the company achieved a positive EBITDA of ₹56 Mn compared to a loss in the previous year, driven by lower raw material costs and better expense management. The net loss for the quarter narrowed significantly to ₹5 Mn from ₹109 Mn in Q3 FY25. For the 9M-FY26 period, the company remains in a net loss position of ₹29 Mn.
Key Highlights
Total sales volumes fell 29% YoY to 13,992 MT, with the Agriculture segment contributing 11,790 MT.
EBITDA margins improved to 4.12% from -0.67% YoY due to reduced cost of materials and disciplined cost control.
Finance costs decreased by 45.8% YoY to ₹32 Mn, reflecting improved working capital management.
9M-FY26 revenue stands at ₹4,456 Mn, a 23.8% decline compared to the same period last year.
The company maintains a strong distribution network of 490+ dealers across 16 states with a total capacity of 1,49,400 TPA.
💼 Action for Investors
Investors should monitor the company's ability to recover sales volumes in the Agriculture segment, which accounts for 79% of revenue. While margin improvement and loss narrowing are positive signs, the sharp revenue de-growth warrants a cautious outlook.