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MPS Ltd Q3 FY26 Net Profit Rises 31.5% YoY to ₹28.52 Cr; Revenue Up 28% YoY
MPS Limited reported a strong year-on-year performance for Q3 FY26, with standalone revenue growing 28.2% to ₹111.20 crore compared to ₹86.74 crore in the previous year. Net profit for the quarter stood at ₹28.52 crore, marking a 31.5% increase YoY, despite a marginal 1.8% dip in revenue on a sequential basis. The company also announced the resignation of Non-Executive Director Ms. Yamini Tandon and approved amendments to its Insider Trading Code. Additionally, the board noted the grant of 28,906 ESOPs to eligible employees during the quarter.
Key Highlights
Standalone Revenue from operations grew 28.2% YoY to ₹11,120 lakhs in Q3 FY26.
Net Profit increased by 31.5% YoY to ₹2,852 lakhs from ₹2,168 lakhs in the same quarter last year.
Learning Solutions segment contributed ₹5,157 lakhs to revenue, while Content Solutions added ₹5,076 lakhs.
Basic EPS improved significantly to ₹16.66 from ₹12.67 in the corresponding quarter of the previous year.
Ms. Yamini Tandon resigned as Non-Executive Director effective February 2, 2026, due to personal reasons.
💼 Action for Investors
Investors should take note of the robust year-on-year growth and healthy margins, which indicate strong operational execution. While the slight sequential revenue dip should be monitored, the overall financial trajectory remains positive for long-term holders.
Valor Estate Allots 3.2 Crore Equity Shares Following CCPS Conversion
Valor Estate Limited (formerly DB Realty) has announced the allotment of 3,20,02,330 equity shares to Konark Realtech Private Limited, a non-promoter entity. This issuance results from the conversion of 6,45,75,000 Compulsory Convertible Preference Shares (CCPS). The conversion was executed at a price of Rs. 201.65 per share, which includes a premium of Rs. 191.65. As a result, the company's paid-up equity capital has increased to approximately Rs. 542.41 crore.
Key Highlights
Allotment of 3,20,02,330 equity shares of face value Rs. 10 each upon CCPS conversion
Conversion price fixed at Rs. 201.65 per share, including a premium of Rs. 191.65
Shares issued to non-promoter entity Konark Realtech Private Limited (KRPL)
Total paid-up capital increased from Rs. 539.20 crore to Rs. 542.41 crore
Conversion follows board approval dated November 14, 2025, and shareholder approval dated December 12, 2025
💼 Action for Investors
Investors should account for the equity dilution resulting from this large allotment. While it strengthens the balance sheet, it may impact near-term Earnings Per Share (EPS) calculations.
RailTel Q3 FY26 Net Profit at ₹62.4 Cr, Revenue Up 19% YoY but Down 4% QoQ
RailTel reported a mixed performance for the quarter ended December 31, 2025, with revenue growing 19% year-on-year to ₹913.45 crore. However, on a sequential basis, revenue declined by 4% and net profit dropped by 18% to ₹62.4 crore compared to the September quarter. The 9-month performance remains positive with total income reaching ₹2,647.94 crore, a 19% increase over the previous year. While the Project Work segment continues to drive volume, sequential margin pressure and lower other income impacted the bottom line this quarter.
Key Highlights
Revenue from operations stood at ₹913.45 crore, up 19% YoY from ₹767.62 crore but down 4% QoQ.
Net profit for Q3 FY26 declined to ₹62.4 crore, compared to ₹76.07 crore in Q2 FY26 and ₹65.05 crore in Q3 FY25.
Project Work Services revenue contributed ₹563.91 crore, while Telecom Services contributed ₹349.54 crore.
9-month cumulative net profit rose 9.7% YoY to ₹204.57 crore from ₹186.36 crore.
Earnings Per Share (EPS) for the quarter decreased to ₹1.94 from ₹2.37 in the previous quarter.
💼 Action for Investors
Investors should focus on the company's ability to maintain margins in the Project Work segment and the growth of high-margin Telecom Services. The sequential dip suggests a temporary slowdown in execution or seasonality, but the year-on-year growth remains healthy for long-term holders.
Indiabulls Ltd Q3 FY26: PAT Rises to ₹78.4 Cr; Real Estate Pipeline Valued at ₹23,042 Cr
Indiabulls Limited reported a consolidated PAT of ₹78.4 Cr for Q3 FY26, showing slight sequential growth despite a sharp revenue decline to ₹102.6 Cr from ₹256.6 Cr in Q2. The company is transitioning post-merger, focusing on a massive real estate pipeline of 140.65 lakh sq. ft. with an estimated net margin potential of ₹9,155 Cr. While NCR construction was temporarily halted due to GRAP restrictions, profit recognition from major projects is expected to commence in Q4 FY26. The financial services segment remains stable, with ARC assets under collection reaching ₹3,800 Cr and broking AUM exceeding ₹68,000 Cr.
Key Highlights
Consolidated PAT increased to ₹78.4 Cr in Q3 FY26 compared to ₹75.3 Cr in Q2 FY26.
Total real estate development pipeline stands at 140.65 L Sqft with expected revenue of ₹23,042 Cr.
ARC business added portfolios worth ₹545 Cr, bringing total assets under collection to ~₹3,800 Cr.
Broking AUM grew to ₹68,000+ Cr with new customer additions up 88% on a 9M YoY basis.
Revenue for the quarter dropped significantly to ₹102.6 Cr from ₹256.6 Cr in the previous quarter.
💼 Action for Investors
Investors should closely monitor the Q4 FY26 results for the promised commencement of profit recognition from the real estate segment. While the asset pipeline is substantial, the significant sequential revenue drop and regulatory dependencies in the NCR region necessitate a cautious approach.
Indiabulls Ltd Q3 FY26 Net Profit at ₹78.37 Cr; Completes Major Merger with Dhani Services
Indiabulls Limited (formerly Yaari Digital) reported a consolidated net profit of ₹78.37 crore for Q3 FY26, showing stability compared to ₹75.31 crore in the preceding quarter. The company has successfully implemented a massive Scheme of Arrangement merging Dhani Services and multiple other entities, resulting in a significant turnaround from a restated loss of ₹108.56 crore in the previous year's nine-month period to a profit of ₹151.87 crore. Total equity share capital has expanded significantly to ₹464.87 crore following the allotment of shares to merging entity shareholders. The results also reflect a one-time recognition of deferred tax assets worth ₹104.82 crore.
Key Highlights
Consolidated Net Profit for Q3 FY26 stood at ₹78.37 crore vs ₹75.31 crore in Q2 FY26.
Nine-month FY26 profit reached ₹151.87 crore, recovering from a restated loss of ₹108.56 crore YoY.
Total equity share capital increased to ₹464.87 crore following the issuance of over 125 crore new shares under the merger swap.
The company officially changed its name from Yaari Digital Integrated Services Limited to Indiabulls Limited effective October 2025.
Asset Reconstruction segment contributed ₹137.69 crore to revenue for the nine-month period ended December 2025.
💼 Action for Investors
Investors should note the successful completion of the complex restructuring and the company's return to profitability. While the turnaround is positive, the massive equity dilution from the share swap requires careful monitoring of future Earnings Per Share (EPS) growth.
Indiabulls Ltd Q3 Net Profit at ₹78.37 Cr Driven by Tax Credits; Revenue Slumps 59% QoQ
Indiabulls Limited (formerly Yaari Digital) reported a consolidated net profit of ₹78.37 crore for Q3 FY26, which was primarily supported by a deferred tax credit of ₹105.93 crore. Operational performance showed significant weakness as revenue from operations fell 59% sequentially to ₹96.96 crore from ₹236.27 crore in Q2. The quarter marks the first full reporting period following a massive restructuring and merger with Dhani Services and other entities, which has significantly expanded the equity base to ₹464.88 crore. Despite the bottom-line profit, the company recorded a loss before tax of ₹27.56 crore, highlighting operational headwinds.
Key Highlights
Net Profit of ₹78.37 crore reported for Q3 FY26, largely due to a ₹105.72 crore deferred tax asset recognition.
Revenue from operations declined sharply to ₹96.96 crore from ₹236.27 crore in the previous quarter.
Reported a Loss Before Tax of ₹27.56 crore in Q3 FY26 compared to a profit of ₹103.33 crore in Q2 FY26.
Total paid-up equity capital increased to ₹464.88 crore following the issuance of over 125 crore new shares under the merger scheme.
Asset Reconstruction segment emerged as a significant contributor with ₹117.69 crore revenue for the nine-month period.
💼 Action for Investors
Investors should remain cautious as the net profit is non-operational and driven by accounting adjustments. The massive equity dilution and the shift in business focus post-merger require a few more quarters to demonstrate sustainable core profitability.
GPT Healthcare Q3 Revenue Up 17% to ₹122 Cr; PAT Declines 23.5% Amid Margin Pressure
GPT Healthcare reported a 16.81% YoY increase in Q3 FY26 revenue to ₹121.6 crore, supported by higher patient volumes and a stronger specialty mix. However, the company faced significant margin contraction, with EBITDA margins falling to 18.20% from 22.23% in the previous year's quarter. Consequently, Profit After Tax (PAT) for Q3 FY26 declined by 23.5% YoY to ₹9.4 crore. For the nine-month period (9M FY26), revenue grew 12.12% to ₹350.5 crore, while PAT fell 25.32% to ₹27.6 crore, reflecting the impact of scaling new facilities like Raipur.
Key Highlights
Q3 FY26 Total Revenue grew 16.81% YoY to ₹121.6 crore, while 9M FY26 revenue rose 12.12% to ₹350.5 crore.
Profit After Tax (PAT) for Q3 FY26 declined 23.5% YoY to ₹9.4 crore from ₹12.1 crore.
EBITDA margins contracted to 18.20% in Q3 FY26 compared to 22.23% in the corresponding quarter last year.
Average Revenue Per Occupied Bed (ARPOB) for 9M FY26 stood at ₹38,797 with an overall occupancy of 45%.
Company completed 750+ robotic surgeries at ILS Salt Lake and commissioned CTVS at ILS-Dum Dum.
💼 Action for Investors
Investors should be cautious as the sharp decline in profitability and margins may weigh on the stock price in the short term. Monitor the ramp-up of the Raipur facility and the progress of the Jamshedpur project to see if operating leverage improves margins in future quarters.
GPT Healthcare Q3 Revenue Grows 16.8% to ₹121.6 Cr; PAT Declines 23.5% on Expansion Costs
GPT Healthcare reported a 16.8% YoY revenue growth in Q3 FY26, reaching ₹121.6 Cr, supported by a 6% increase in ARPOB to ₹38,797. However, profitability faced headwinds due to the commissioning of the new Raipur facility, leading to a 23.5% YoY decline in Q3 PAT to ₹9.4 Cr. While overall network occupancy was 45%, mature hospitals showed resilience with occupancy improving marginally to 55%. The company remains focused on its 1,000-bed target by 2027, with the 150-bed Jamshedpur project currently in the planning phase.
Key Highlights
Revenue for 9M FY26 increased 12.1% YoY to ₹350.5 Cr, while Q3 revenue rose 16.8% to ₹121.6 Cr.
Q3 EBITDA margin contracted to 18.2% from 22.2% YoY, with PAT falling 23.5% to ₹9.4 Cr.
ARPOB grew 6% YoY to ₹38,797, reflecting strengthened clinical offerings and specialty mix.
Raipur facility (158 beds) is scaling up after commissioning in Q1 FY26, impacting current margins.
Successfully performed 750+ robotic surgeries and launched CTVS services at the Dum Dum facility.
💼 Action for Investors
Investors should monitor the ramp-up and break-even timeline of the Raipur hospital, as its initial losses are currently weighing on consolidated margins. The long-term investment thesis remains intact based on the company's aggressive expansion toward a 1,000-bed capacity in the underserved Eastern India market.
GPT Healthcare Q3FY26 Revenue up 17.5% YoY to ₹120 Cr; PAT drops 23.5% to ₹9.37 Cr
GPT Healthcare reported a 17.5% YoY growth in revenue from operations to ₹120.16 crore for Q3FY26. However, net profit declined significantly by 23.5% YoY to ₹9.37 crore, primarily due to a sharp rise in operating and depreciation expenses. On a nine-month basis, while revenue grew to ₹346.18 crore, profit after tax fell from ₹37.03 crore to ₹27.65 crore. The company's margins were pressured by a 29% YoY increase in other expenses and a 52% jump in depreciation costs.
Key Highlights
Revenue from operations grew 17.5% YoY to ₹12,015.81 lakhs in Q3FY26.
Net Profit (PAT) declined by 23.5% YoY to ₹936.83 lakhs from ₹1,224.61 lakhs in the same quarter last year.
Other expenses surged 28.9% YoY to ₹5,448.77 lakhs, significantly impacting operating margins.
Depreciation and amortization expenses increased by 52.3% YoY to ₹710.99 lakhs.
Nine-month (9MFY26) PAT stands at ₹2,765.45 lakhs, down 25.3% compared to ₹3,703.17 lakhs in 9MFY25.
💼 Action for Investors
Investors should exercise caution as the company is experiencing significant margin compression despite healthy top-line growth. It is critical to monitor management's explanation for the surge in 'Other expenses' and the impact of new capacity on depreciation.
Pricol Q3 FY26: Revenue Crosses ₹1,000 Cr Milestone with 65.7% YoY Growth
Pricol Limited achieved a significant milestone in Q3 FY26, with quarterly revenue crossing ₹1,000 crore for the first time, marking a 65.67% YoY growth. The company reported a consolidated EBITDA of ₹350 crore for the nine-month period with a margin of 12.11%. Management has outlined a ₹500 crore CAPEX plan for the next 2-3 years to expand capacity and invest in EV-related technologies. New product lines, including disc brakes and Battery Management Systems (BMS), are slated for mass production starting early FY27 for major OEMs.
Key Highlights
Quarterly revenue crossed the ₹1,000 crore mark, growing 65.67% compared to the previous year.
9M FY26 consolidated revenue reached approximately ₹2,900 crore with an EBITDA of ₹350 crore.
Planned CAPEX of ₹500 crore over 2-3 years to address capacity constraints and new product development.
Mass production of disc brakes for a large two-wheeler OEM scheduled to begin in Q1 or Q2 FY27.
Successfully de-risked the supply chain by developing alternates for Nexperia components.
💼 Action for Investors
Investors should focus on the successful execution of the ₹500 crore CAPEX and the upcoming launch of high-margin products like BMS and disc brakes. The company's transition into a technology-driven auto-electronics player provides a strong long-term growth narrative.
Modison Ltd Q3 Net Profit Jumps 245% YoY to ₹20.06 Cr; Revenue Up 18.5%
Modison Limited reported a robust Q3 FY26 with consolidated revenue rising 18.5% YoY to ₹143.71 crore. Net profit witnessed a stellar 245% YoY growth, reaching ₹20.06 crore, primarily driven by an exceptional gain of ₹11.70 crore from silver hedging. For the nine-month period, net profit more than doubled to ₹36.53 crore compared to ₹15.15 crore in the previous year. The company also successfully managed a one-time impact of ₹94.51 lakhs related to new labour code compliance.
Key Highlights
Consolidated Revenue grew 18.5% YoY to ₹14,371.22 Lakhs in Q3 FY26.
Net Profit surged 245% YoY to ₹2,006.33 Lakhs, supported by ₹1,170.39 Lakhs in hedging gains.
EPS for the quarter improved significantly to ₹6.18 from ₹1.79 in the year-ago period.
9M FY26 Net Profit stands at ₹3,653.28 Lakhs, up from ₹1,514.87 Lakhs in 9M FY25.
Board approved the appointment of M/s. V. Singhi & Associates as Internal Auditors for FY 2026-27.
💼 Action for Investors
While the profit growth is exceptionally high, investors should be aware that over 50% of the pre-tax profit came from one-time silver hedging gains. Monitor core operational performance in subsequent quarters to ensure sustainable growth.
MPS Limited Q3 FY26: PAT at ₹35.5 Cr; On Track for Record ₹100+ EPS in FY26
MPS Limited reported a resilient performance for Q3 FY26 with revenues of ₹182.5 crore, despite a marginal 2.1% YoY decline. The core Research Solutions segment (excluding AJE) showed strong growth of 16.2% YoY, while Education Solutions grew by 11.3%. The company remains debt-free with a strong cash position of ₹143 crore and is confident of achieving its first-ever annual EPS of ₹100+ for FY26. Profitability in Q3 was impacted by a ₹7.02 crore exceptional provision related to the New Labour Code.
Key Highlights
9M FY26 PAT grew by 23.9% YoY to ₹126.2 crore, with EBITDA margins improving to 29.9%.
Research Solutions (excl. AJE) revenue grew 16.2% YoY, maintaining a high EBITDA margin of 39.1%.
Education Solutions segment revenue increased 11.3% YoY to ₹44.3 crore with 40.8% EBITDA margins.
Company maintains a debt-free balance sheet with cash and equivalents of ₹143 crore as of Dec 2025.
Management expects to surpass ₹100 EPS for the first time in the company's history in FY26.
💼 Action for Investors
Investors should focus on the strong 9M growth trajectory and the management's confidence in achieving record EPS. The core strength in Research and Education segments makes this a solid long-term play despite the temporary reset in Corporate Learning.
Modison Ltd Q3 Net Profit Surges 245% YoY to ₹20.06 Cr; Revenue Up 18.5%
Modison Limited reported a robust performance for Q3 FY26, with consolidated revenue growing 18.5% YoY to ₹143.71 crore. Net profit witnessed a massive jump of 245% YoY to ₹20.06 crore, significantly bolstered by an exceptional gain of ₹11.70 crore from silver hedging and mark-to-market forward contracts. Even excluding these exceptional items, profit from ordinary activities grew by 95% YoY to ₹15.35 crore. The company also announced the appointment of M/s. V. Singhi & Associates as Internal Auditors for the next fiscal year.
Key Highlights
Consolidated Revenue from Operations increased 18.5% YoY to ₹143.71 crore from ₹121.21 crore.
Net Profit surged 245% YoY to ₹20.06 crore, compared to ₹5.81 crore in the same quarter last year.
Exceptional gain of ₹11.70 crore recorded from silver hedging and forward contracts, up from a loss of ₹0.02 crore YoY.
Profit before exceptional items and tax grew 95% YoY to ₹15.35 crore.
Basic EPS for the quarter rose significantly to ₹6.18 from ₹1.79 YoY.
💼 Action for Investors
Investors should cheer the strong bottom-line growth, but remain mindful that a significant portion of the profit jump is due to one-time hedging gains. The 95% growth in core operating profit before exceptions indicates strong underlying business momentum.
MPS Ltd Q3 FY26 Results: Net Profit Rises 15.5% YoY to ₹28.52 Cr; Revenue Up 23.6%
MPS Limited reported a strong performance for Q3 FY26, with revenue from operations growing 23.6% YoY to ₹111.20 crore. Net profit for the quarter increased by 15.5% YoY to ₹28.52 crore, supported by growth across its Content and Learning solutions segments. The company's EPS improved to ₹16.71 from ₹14.47 in the same quarter last year. Additionally, the board noted the resignation of Non-Executive Director Ms. Yamini Tandon and approved amendments to the insider trading code.
Key Highlights
Revenue from operations grew 23.6% YoY to ₹11,120 lakhs in Q3 FY26.
Net profit increased 15.5% YoY to ₹2,852 lakhs, compared to ₹2,470 lakhs in Q3 FY25.
Content Solutions remains the largest segment, contributing ₹5,688 lakhs to quarterly revenue.
Basic EPS for the quarter rose to ₹16.71 from ₹14.47 in the previous year's corresponding quarter.
Nine-month (9M FY26) total income reached ₹32,880 lakhs with a net profit of ₹8,492 lakhs.
💼 Action for Investors
Investors should view the consistent double-digit growth in revenue and profit as a sign of operational strength. The stock remains a positive hold given the steady margin profile and segment diversification.
REC Limited CFO Harsh Baweja Retires; CMD Jitendra Srivastava Takes Additional Charge
Shri Harsh Baweja has retired as the Director (Finance) and Chief Financial Officer of REC Limited effective February 1, 2026, following his superannuation. The Ministry of Power has assigned the additional charge of the Director (Finance) post to the current Chairman & Managing Director, Shri Jitendra Srivastava. This interim arrangement is effective for a period of 3 months or until a regular appointment is made. Investors should note that such transitions are routine in Public Sector Undertakings (PSUs) upon reaching retirement age.
Key Highlights
Shri Harsh Baweja ceased to be Director (Finance) and CFO effective February 1, 2026.
CMD Shri Jitendra Srivastava (IAS) takes additional charge of the finance portfolio for 3 months.
The transition follows the scheduled superannuation of the outgoing director on January 31, 2026.
The interim appointment is subject to further orders from the Ministry of Power, Government of India.
💼 Action for Investors
This is a routine management change due to retirement and does not alter the company's fundamental outlook. Investors should monitor for the appointment of a permanent CFO to ensure continued financial leadership stability.
TFCI Reports Strong 9MFY26: PAT Up 24% YoY to ₹91.44 Cr, Net NPA Hits Zero
Tourism Finance Corporation of India (TFCI) reported a robust performance for the nine months ended December 2025, with Profit After Tax (PAT) rising 24% YoY to ₹91.44 crore. A standout highlight is the massive improvement in asset quality, with Net Non-Performing Loans (NPL) reaching 0% and Gross NPL dropping to 0.38% from 3.22% in March 2025. Net Interest Margins (NIM) also saw healthy expansion to 6.34%, up from 5.07% in FY25. The company maintains a very high Capital Adequacy Ratio of 58.13%, indicating a strong balance sheet for future expansion.
Key Highlights
Profit After Tax (PAT) increased by 24% YoY to ₹91.44 crore for 9MFY26.
Net NPL reached 0% and Gross NPL improved significantly to 0.38% from 3.22% in March 2025.
Net Interest Margin (NIM) expanded to 6.34% compared to 5.07% in the previous fiscal year.
Gross AUM grew to ₹2,101.76 crore with the hotel sector comprising 54% of the portfolio.
Capital Adequacy Ratio (CRAR) remains exceptionally high at 58.13%.
💼 Action for Investors
Investors should take note of the significant cleanup in the balance sheet and the expansion in margins, which suggest strong operational efficiency. The achievement of zero Net NPA makes the stock attractive for those looking for specialized NBFC plays in the hospitality and infrastructure sectors.
MPS Limited Acquires 100% Stake in US-Based Healthcare Tech Firm Unbound Medicine
MPS Limited, through its US subsidiary, has entered into an agreement to acquire a 100% stake in Unbound Medicine, Inc., a Delaware-based healthcare technology company. Founded in 1999, Unbound Medicine provides digital medical reference and clinical decision-support solutions via a subscription-led institutional model. This acquisition marks MPS's strategic entry into the high-growth healthcare and medical information technology segment. The move aligns with the company's 'Vision 2027' strategy to focus on high-quality, recurring-revenue businesses with strong customer stickiness in the North American market.
Key Highlights
Acquisition of 100% stake in Unbound Medicine, Inc. by wholly-owned subsidiary MPS North America LLC.
Unbound Medicine has a 26-year operational history serving leading medical schools and hospital systems in the US and Canada.
The target company operates a subscription-led business model, ensuring resilient and recurring revenue streams.
Strategic expansion into the healthcare vertical, diversifying MPS's portfolio beyond core digital publishing.
Integration with MPS Labs intended to accelerate AI-driven innovation in clinical tools and medical platforms.
💼 Action for Investors
This acquisition is a significant positive as it adds a high-margin, recurring revenue stream in a specialized vertical. Investors should monitor upcoming financial disclosures for the deal valuation and the impact on consolidated EBITDA margins.
MPS Ltd to Acquire US-based Unbound Medicine for USD 16.5 Million
MPS Limited, through its US subsidiary, has entered into an agreement to acquire a 100% stake in Unbound Medicine, Inc. for USD 16.50 million in cash. Unbound Medicine is a healthcare learning technology company that reported USD 8.88 million in revenue for CY2024. The acquisition provides MPS entry into the high-growth medical information technology segment and adds over 480 institutional clients to its portfolio. This move is part of MPS's strategic vision to reach INR 1,500 crore in revenue by FY28.
Key Highlights
Acquisition of 100% stake for a total cash consideration of USD 16.50 million
Target entity reported CY2024 revenue of USD 8.88 million with a high gross retention rate of ~97%
Adds 480+ institutional customers including medical schools and hospital systems across the US and Canada
Strategic entry into AI-enabled clinical decision support and healthcare learning platforms
Transaction expected to be completed on or before 10 February 2026
💼 Action for Investors
Investors should view this as a positive strategic expansion into a high-margin, recurring revenue vertical that complements MPS's existing digital publishing business. Monitor the integration progress and the impact on consolidated margins in upcoming quarters.
Seamec Q3 FY26: Record Performance with 139% Revenue Growth and ₹101 Cr PAT
Seamec Limited reported its highest-ever quarterly revenue and profit in Q3 FY26, driven by peak vessel deployment and the early completion of a major turnkey project for ONGC. Standalone revenue jumped 139% YoY to ₹316.5 crore, while PAT rose to ₹101.3 crore from just ₹2.3 crore in the previous year. The company's EBITDA margin saw a significant expansion to 45.4%, reflecting strong operational leverage and high-value contracts. Financially, the company remains robust with a net debt-free position and an 18% ROCE.
Key Highlights
Standalone Q3 FY26 Revenue increased 139% YoY to ₹316.5 crore and 246% QoQ.
Standalone PAT for Q3 FY26 stood at ₹101.3 crore vs ₹2.3 crore YoY, marking a record high.
EBITDA surged 296% YoY to ₹143.7 crore with margins improving to 45.4% from 27.4% YoY.
Maintains a strong balance sheet with a negative Net Debt/EBITDA of -0.01x and 18% ROCE.
Operational success includes early completion of ONGC's NLM 9 platform revamping and full deployment of major vessels.
💼 Action for Investors
The stock is likely to react positively to these record earnings and the significantly improved margin profile. Investors should monitor the integration of new vessels like Seamec Agastya and the upcoming acquisition of Seamec Anant for continued growth.
TFCI Q3 Net Profit Jumps 40.6% YoY to ₹31.8 Cr; Asset Quality Remains Strong
Tourism Finance Corporation of India (TFCI) reported a strong financial performance for the quarter ended December 31, 2025, with net profit rising 40.6% YoY to ₹31.81 crore. Total income grew by 10% YoY to ₹70.59 crore, supported by steady interest income and fee-based revenue. Asset quality showed improvement as Gross NPA declined to 3.20% from 3.66% in the previous quarter, while Net NPA remained at zero. The company maintains an exceptionally high Capital Adequacy Ratio (CRAR) of 66.60%, indicating significant headroom for future growth.
Key Highlights
Net Profit for Q3 FY26 increased to ₹31.81 crore, up from ₹22.63 crore in the same period last year.
Gross NPA improved sequentially to 3.20% compared to 3.66% in the quarter ended September 2025.
Net NPA stands at 0.00% with a Provision Coverage Ratio (PCR) of 100%.
Total Income for the nine-month period rose to ₹202.89 crore against ₹190.61 crore YoY.
Capital Risk Adequacy Ratio (CRAR) remains robust at 66.60% as of December 31, 2025.
💼 Action for Investors
Investors should take note of the significant bottom-line growth and the company's ability to maintain zero Net NPAs. The strong capital adequacy and focus on the growing tourism sector make it a specialized play for long-term portfolios.