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Sanstar Q3 FY26 PAT Recovers to ₹137 Mn; Dhule Expansion to Commission in Feb 2026
Sanstar Limited reported a sequential recovery in Q3 FY26 with revenue of ₹2,018 million and a PAT of ₹137 million, following a volatile first half. EBITDA margins improved significantly to 8.9% in Q3 from a low of 0.7% in Q2, driven by higher plant utilization and better cost control. However, 9M FY26 performance remains subdued with revenue down 22.3% YoY to ₹5,679 million due to pricing pressure from Chinese exports in Southeast Asia. The company's major capacity expansion at Dhule is on track, with the native starch plant expected to commission by late February 2026.
Key Highlights
Q3 FY26 Revenue stood at ₹2,018 million, reflecting a 2.7% sequential growth over Q2.
EBITDA recovered to ₹179 million in Q3 from ₹14 million in Q2, with margins reaching 8.9%.
9M FY26 Revenue declined 22.3% YoY to ₹5,679 million, impacted by global pricing headwinds.
Dhule expansion to 2,100 TPD is nearing completion, with the native starch unit set for Q4 FY26 commissioning.
Exports contributed ₹644 million to Q3 revenue, serving 58 countries despite Chinese competition.
💼 Action for Investors
Investors should focus on the successful commissioning and ramp-up of the Dhule expansion in Q4 FY26, which is critical for future volume growth. While sequential recovery is positive, the impact of Chinese export intensity on global starch realizations remains a key risk to monitor.
Sanstar Q3 FY26 Net Profit at ₹13.67 Cr; Sequential Recovery but 9M Profit Down 63% YoY
Sanstar Limited reported a strong sequential recovery in the quarter ended December 31, 2025, with net profit rising to ₹13.67 crore from a low of ₹0.63 crore in Q2 FY26. However, the year-on-year performance remains weak, with Q3 revenue declining 8.9% to ₹201.76 crore. For the nine-month period (9M FY26), net profit has fallen sharply to ₹13.96 crore compared to ₹38.28 crore in the previous year. On a positive note, finance costs have reduced significantly following the repayment of ₹100 crore in borrowings using IPO proceeds.
Key Highlights
Net Profit for Q3 FY26 stood at ₹13.67 crore, recovering from ₹0.63 crore in the previous quarter.
Revenue from operations for Q3 FY26 was ₹201.76 crore, down from ₹221.42 crore in Q3 FY25.
9M FY26 Net Profit dropped to ₹13.96 crore from ₹38.28 crore in 9M FY25, a 63.5% decline.
Finance costs for 9M FY26 decreased to ₹1.72 crore from ₹6.72 crore YoY due to debt repayment.
Company has utilized ₹357.23 crore of IPO proceeds, with ₹181.56 crore spent on the Dhule plant expansion.
💼 Action for Investors
While the sequential recovery in margins is encouraging, the significant year-on-year decline in 9M profitability warrants caution. Investors should monitor the impact of the Dhule plant expansion on future revenue growth.
Prostarm Info Systems Q3 Standalone PAT Jumps 105% YoY to ₹15.96 Crore
Prostarm Info Systems reported a robust performance for Q3 FY26, with standalone revenue from operations surging 110.8% year-on-year to ₹159.34 crore. Standalone net profit followed suit, doubling to ₹15.96 crore compared to ₹7.79 crore in the same period last year. On a consolidated basis, the nine-month revenue reached ₹281.31 crore, showing steady growth over the previous year's ₹268.63 crore. The company maintains its focus on customized power electronic solutions, which remains its sole reportable business segment.
Key Highlights
Standalone Revenue from operations grew 110.8% YoY to ₹159.34 crore in Q3 FY26.
Standalone Net Profit increased by 104.9% YoY to ₹15.96 crore from ₹7.79 crore.
Quarter-on-quarter (QoQ) standalone revenue saw a massive jump from ₹64.61 crore in Q2 FY26.
Standalone Earnings Per Share (EPS) for the quarter rose to ₹2.88 from ₹1.82 YoY.
Consolidated 9-month revenue stood at ₹281.31 crore, up from ₹268.63 crore in the previous year period.
💼 Action for Investors
The significant jump in quarterly revenue and profitability suggests strong execution and demand in the power electronics segment. Investors should monitor the sustainability of these margins and the order book to determine if this represents a permanent shift in the company's growth trajectory.
Prostarm Info Systems Declared L-1 Bidder for INR 4.29 Crore WBMSC Project
Prostarm Info Systems Limited has been declared the L-1 bidder for a contract from West Bengal Medical Services Corporation (WBMSC). The project involves the supply, installation, and commissioning of 10 KVA UPS systems and batteries at 137 Block Primary Health Units across West Bengal. The total contract value is INR 4.29 Crores, with an execution timeline of 180 days. This order includes a 3-year warranty on the equipment, strengthening the company's service portfolio in the public healthcare sector.
Key Highlights
Total contract value is approximately INR 4.29 Crores
Project covers 137 Block Primary Health Units across the state of West Bengal
Execution period is set for 180 days from the date of award
Scope includes supply, installation, testing, and commissioning of 10 KVA UPS systems
Contract includes a comprehensive 3-year warranty on both UPS and batteries
💼 Action for Investors
Investors should track the timely execution of this 180-day project as it provides short-term revenue visibility. Continued success in securing government healthcare infrastructure contracts could be a positive growth driver for the company.
Star Health Appoints Himanshu Walia and Amitabh Jain as Whole-time Directors for 5 Years
Star Health has received IRDAI approval to appoint Mr. Himanshu Walia and Mr. Amitabh Jain as Whole-time Directors and Key Managerial Personnel for a five-year term starting February 11, 2026. Mr. Walia, the current Chief Marketing Officer, has been with the company since 2007 and brings over 22 years of insurance experience. Mr. Jain, the current Chief Operating Officer and a former founding member of ICICI Lombard, has over 25 years of experience in financial services. These appointments strengthen the leadership team by elevating experienced internal executives to the board level.
Key Highlights
Appointment of two Whole-time Directors for a fixed term of 5 years effective February 11, 2026
Mr. Himanshu Walia (CMO) brings 22+ years of experience and has been with Star Health since 2007
Mr. Amitabh Jain (COO) has 25+ years of experience and was a founding member of ICICI Lombard
Appointments have received formal regulatory approval from IRDAI
💼 Action for Investors
Investors should view this as a positive move for leadership continuity and operational stability. Monitor the company's execution on digital transformation and market share growth under this strengthened leadership team.
Star Cement Q3 FY26 PAT Jumps to ₹74 Cr; EBITDA Per Ton Rises to ₹1,600
Star Cement reported a robust performance for Q3 FY26, with revenue growing 22.4% YoY to ₹880 crores. The company's EBITDA per ton saw a significant jump to ₹1,600 compared to ₹1,000 in the previous year, driven by improved realizations in the Northeast market. Net profit surged to ₹74 crores from ₹9 crores YoY, despite a 28% drop in subsidy income. Management confirmed the commissioning of the Silchar plant in February 2026, which is expected to bolster future volumes and subsidy benefits.
Key Highlights
Revenue increased to ₹880 crores from ₹719 crores YoY, while PAT surged to ₹74 crores from ₹9 crores.
EBITDA per ton improved significantly to ₹1,600 from ₹1,000 in the same quarter last year.
Total cement sales volume grew to 12.31 lakh tons, with Northeast sales accounting for 9.36 lakh tons.
Silchar plant commissioning is scheduled for February 2026, with subsidy benefits expected to kick in after 7-8 months.
Incentive income dropped 28% YoY to ₹33 crores following the GST rate reduction from 28% to 18%.
💼 Action for Investors
Investors should consider the strong operational efficiency and upcoming capacity expansion at Silchar as positive long-term catalysts. The company remains a dominant player in the Northeast, though monitoring logistics costs and the impact of new regional capacity is advised.
IndoStar Q3FY26: Disbursements Up 20% QoQ to ₹1,117 Cr; PPOP Grows 44% YoY
IndoStar Capital Finance reported strong operational growth in Q3FY26, with disbursements rising 20% QoQ to ₹1,117 crore and AUM reaching ₹7,692 crore. While Pre-provision operating profit (PPOP) surged 43.5% YoY to ₹85.2 crore, Profit After Tax (PAT) fell 27.7% YoY to ₹8.3 crore, primarily due to a one-time ₹4.8 crore regulatory wage code impact. The company demonstrated improved efficiency with a 67 bps YoY reduction in cost of funds to 10.09% and a 70 bps improvement in yields. Asset quality remains stable with Gross Stage 3 at 4.06% and a very healthy Capital Adequacy Ratio of 41.4%.
Key Highlights
Disbursements grew 20% QoQ to ₹1,117 crore, led by 21% growth in Vehicle Finance.
Pre-provision operating profit (PPOP) increased 43.5% YoY to ₹85.2 crore driven by yield expansion.
Cost of funds improved by 67 bps YoY to 10.09% through the 'LEAP' cost optimization initiative.
Standalone PAT of ₹8.3 crore includes a one-time ₹4.8 crore impact from regulatory changes in the Wage Code.
Capital Adequacy Ratio (CAR) stands strong at 41.4% with low leverage of 1.2x following warrant conversions.
💼 Action for Investors
Investors should look past the one-time PAT dip and focus on the robust 44% YoY growth in operating profit and improving NIMs. The company's strong capital position and declining cost of funds suggest a positive trajectory for future profitability.
IndoStar Q3FY26: NIM Expands to 8.6% Despite PAT Dip to ₹8.3 Crore
IndoStar Capital Finance reported a PAT of ₹8.3 crore for Q3FY26, a decline from ₹11.4 crore in the previous year. While overall AUM saw a slight year-on-year dip to ₹7,692 crore, Net Interest Margins (NIM) showed significant improvement, rising to 8.6% from 5.4% a year ago. The company is successfully transitioning to a retail-centric model, with Micro LAP AUM growing over 6x to ₹128 crore. Asset quality remains a point of focus as Gross Stage 3 assets rose sequentially to 4.06% from 3.04% in Q2FY26.
Key Highlights
Net Interest Margin (NIM) improved significantly to 8.6% in Q3FY26 compared to 5.4% in Q3FY25.
Micro LAP segment showed robust growth with AUM reaching ₹128 crore, up from ₹19 crore in the previous year.
Capital Adequacy Ratio remains very healthy at 41.4%, providing a strong cushion for future growth.
Gross Stage 3 assets improved year-on-year to 4.06% but showed a sequential increase from 3.04% in Q2FY26.
Total disbursements for the quarter stood at ₹1,117 crore, showing a recovery from the previous quarter's ₹927 crore.
💼 Action for Investors
Investors should monitor the sequential rise in Stage 3 assets and the impact of the retail transition on bottom-line profitability. While the strong capital position and improving NIMs are positive, consistent PAT growth is yet to materialize.
IndoStar Capital Finance Approves Q3 FY26 Results; Deploys ₹201 Cr for Growth
IndoStar Capital Finance has approved its unaudited financial results for the quarter and nine months ended December 31, 2025. The company disclosed the full utilization of approximately ₹201.33 crore raised through two preferential issues in late 2025. These funds were entirely directed toward growth objectives, specifically for onward lending in commercial vehicle, housing, and SME finance. The absence of any deviation in fund usage reflects management's commitment to expanding the core lending business.
Key Highlights
Approved Q3 and 9M FY26 unaudited standalone and consolidated financial results.
Utilized ₹149.99 crore raised on Nov 24, 2025, for onward lending and capital augmentation.
Utilized ₹51.33 crore raised on Dec 20, 2025, for growth objectives in retail and SME segments.
Reported zero deviation in the utilization of proceeds from preferential issues.
Trading window for designated persons to reopen on February 12, 2026.
💼 Action for Investors
Investors should review the specific profit and NPA figures in the full results to assess the quality of the expanded loan book. The rapid deployment of capital indicates strong demand in their target lending segments.
IndoStar Capital Reports Nil Deviation in Utilization of Rs 201.3 Cr Raised via Warrants
IndoStar Capital Finance has confirmed zero deviation in the utilization of funds raised through preferential issues of warrants during the quarter ended December 31, 2025. The company raised approximately Rs 150 crore on November 24 and an additional Rs 51.3 crore on December 20, totaling over Rs 201 crore. All proceeds were deployed toward growth objectives, specifically for onward lending and augmenting the capital base. This transparency, monitored by CRISIL Ratings, reinforces management's commitment to its stated business expansion strategy.
Key Highlights
Confirmed NIL deviation in the utilization of Rs 201.33 crore raised via preferential issue of warrants.
Raised Rs 149.99 crore on Nov 24, 2025, and Rs 51.33 crore on Dec 20, 2025.
100% of the raised funds were utilized for 'Growth Objectives' including onward lending, exceeding the minimum 75% threshold.
CRISIL Ratings Limited acted as the monitoring agency, verifying the fund deployment.
Funds are being used to support commercial vehicle financing, housing finance, and SME lending portfolios.
💼 Action for Investors
Investors should take confidence in the disciplined and transparent deployment of capital into the company's core lending business. Monitor the next few quarterly earnings to see how this capital infusion translates into AUM growth and interest income.
IndoStar Capital Approves Q3 Results and Reports Full Utilization of ₹201 Crore Growth Capital
IndoStar Capital Finance has approved its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The company reported the successful deployment of approximately ₹201.33 crore raised through preferential issues in late 2025. Notably, 100% of these funds were utilized for growth objectives and onward lending, exceeding the minimum 75% requirement. The board confirmed there were no deviations in the utilization of proceeds, indicating disciplined execution of its capital allocation strategy.
Key Highlights
Approved Unaudited Consolidated and Standalone Financial Results for Q3 and 9M FY2025-26.
Successfully utilized ₹149.99 crore raised via preferential issue on November 24, 2025, for growth objectives.
Deployed ₹51.33 crore raised via preferential issue on December 20, 2025, for onward lending and capital augmentation.
Achieved 100% fund utilization for core business growth, surpassing the mandated minimum threshold of 75%.
Confirmed zero deviation or variation in the use of funds as per the monitoring agency (CRISIL Ratings).
💼 Action for Investors
Investors should examine the detailed financial statements to evaluate the company's margin trends and asset quality following the capital infusion. The full deployment of raised funds into lending suggests an aggressive growth phase that requires monitoring of credit costs.
Megastar Foods Q3FY26 PAT Surges 580% YoY to ₹3.06 Cr; Revenue Up 52%
Megastar Foods reported a stellar performance for Q3FY26, with revenue growing 52.3% YoY to ₹141.21 crore. Net profit (PAT) witnessed a massive jump of 580% YoY, reaching ₹3.06 crore compared to ₹0.45 crore in the same quarter last year. For the nine-month period (9MFY26), the company has already surpassed its full-year FY25 performance, recording a revenue of ₹386.51 crore and a PAT of ₹7.06 crore. The company continues to leverage its state-of-the-art Buhler machinery plant and strong relationships with MNC clients like Nestle and ITC.
Key Highlights
Q3FY26 Revenue increased by 52.3% YoY to ₹14,121 lakhs from ₹9,270 lakhs.
Q3FY26 PAT grew nearly 7x to ₹306 lakhs from ₹45 lakhs in the previous year's quarter.
9MFY26 EBITDA stands at ₹2,604 lakhs, already exceeding the full FY25 EBITDA of ₹2,229 lakhs.
The company operates a high-capacity 710 MT/day processing facility with 85% utilization for refined flour.
Maintains a diversified product mix with Maida contributing 70% and Organic products gaining traction at 14%.
💼 Action for Investors
Investors should monitor the company's ability to maintain these high margins as it scales, given the significant operational leverage shown this quarter. The strong growth trajectory and premium client base make it a compelling growth story in the packaged food processing sector.
Prostarm Declared L-1 Bidder for ₹13.43 Cr Solar Project from South Eastern Railway
Prostarm Info Systems Limited has been declared the L-1 bidder for a solar power project by South Eastern Railway. The contract, valued at INR 13.43 Crores, covers the supply, installation, and erection of a solar power plant at SRC Jurisdiction (Phase 2). The project timeline is 12 months and includes a five-year Comprehensive Maintenance Contract (CMC). This domestic order represents a significant win for the company in the renewable energy infrastructure space.
Key Highlights
Declared L-1 bidder for a South Eastern Railway project valued at INR 13.43 Crores
Project involves supply, installation, and erection of a solar power plant at SRC Jurisdiction
Execution timeline is 12 months with an additional 5-year maintenance contract
The order was secured through a domestic competitive bidding process
💼 Action for Investors
Investors should monitor the official contract signing and subsequent execution milestones over the next 12 months. This win provides healthy revenue visibility and demonstrates the company's competitiveness in government tenders.
Star Cement Declares Re. 1 Interim Dividend and Approves Promoter Reclassification
Star Cement has declared a second interim dividend of 100% (Re. 1 per equity share) for FY 2025-26, with the record date set for February 12, 2026. The company also approved the reclassification of 29 members of the Chamaria Group, holding a 6.052% stake, from the Promoter to the Public category. Financially, the company recognized an exceptional item of ₹552.03 lakhs due to the implementation of new Labour Codes. The dividend is expected to be paid to eligible shareholders by March 8, 2026.
Key Highlights
Declared 2nd interim dividend of Re. 1 per share (100% of face value) for FY 2025-26
Fixed February 12, 2026, as the Record Date for dividend eligibility
Approved reclassification of 29 Chamaria Group members (6.052% stake) to Public Category
Recognized an exceptional expense of ₹552.03 lakhs related to new Labour Code regulations
Dividend payment to be completed within 30 days of declaration, by March 8, 2026
💼 Action for Investors
Investors interested in the dividend should ensure they hold the stock before the ex-dividend date to qualify for the Re. 1 per share payout. The promoter reclassification is a structural change that may improve the stock's public float and liquidity over time.
Star Cement Declares Re. 1 Interim Dividend and Approves Promoter Reclassification
Star Cement has declared a second interim dividend of 100% (Re. 1 per share) for FY 2025-26, with the record date set for February 12, 2026. The company also approved the reclassification of 29 members of the Chamaria Group, who hold a combined 6.052% stake, from the 'Promoter' to the 'Public' category. Financially, the company recognized a one-time exceptional expense of ₹552.03 lakhs due to the impact of new Labour Codes. The board has also approved the unaudited financial results for the quarter and nine months ended December 31, 2025.
Key Highlights
Declared 2nd Interim Dividend of Re. 1 per equity share (100% of face value) for FY 2025-26.
Fixed February 12, 2026, as the Record Date for determining dividend eligibility.
Approved reclassification of 29 Chamaria Group members holding 2,44,60,037 shares (6.052%) to Public category.
Recognized an exceptional item of ₹552.03 lakhs related to the implementation of four new Labour Codes.
Dividend payment to be completed on or before March 8, 2026.
💼 Action for Investors
Investors should ensure they hold shares by the February 12 record date to qualify for the Re. 1 dividend. The promoter reclassification is a structural change that will increase the public float, potentially improving stock liquidity.
Star Cement Declares ₹1 Interim Dividend; Reclassifies 6.05% Promoter Stake
Star Cement has declared a second interim dividend of ₹1 per share (100% of face value) for FY 2025-26. The Board has fixed February 12, 2026, as the record date, with payments to be completed by March 8, 2026. Additionally, the company approved the reclassification of 29 members of the Chamaria Group, who hold a combined 6.052% stake, from the Promoter to the Public category. The financial results also reflect an exceptional expense of ₹552.03 lakhs due to the implementation of new Labour Codes.
Key Highlights
Declared 2nd interim dividend of ₹1 per equity share (100% of face value).
Record date for dividend eligibility fixed as February 12, 2026.
Approved reclassification of 29 Chamaria Group members holding 2,44,60,037 shares (6.052%) to Public category.
Recognized an exceptional item of ₹552.03 lakhs related to the impact of new Labour Codes.
Dividend payment to be completed within 30 days, on or before March 8, 2026.
💼 Action for Investors
Investors looking to benefit from the ₹1 dividend should ensure they hold the shares before the record date of February 12, 2026. The promoter reclassification is a structural change and is unlikely to impact the company's operational fundamentals.
Star Cement Declares ₹1 Interim Dividend and Approves Promoter Reclassification
Star Cement has declared a second interim dividend of ₹1 per equity share (100% of face value) for the financial year 2025-26. The company fixed February 12, 2026, as the record date for determining eligible shareholders, with payments to be completed by March 8, 2026. Alongside financial results, the board approved the reclassification of 29 members of the Chamaria Group, holding a 6.052% stake, from 'Promoter' to 'Public' category. Additionally, the company recognized an exceptional cost of ₹552.03 lakhs related to the implementation of new Labour Codes.
Key Highlights
Declared 2nd interim dividend of ₹1 per share (100% of face value Re. 1).
Record date for dividend eligibility set for February 12, 2026.
Approved reclassification of 29 Chamaria Group members (6.05% stake) to Public category.
Recognized an exceptional item of ₹552.03 lakhs due to new Labour Code regulations.
Dividend payment to be completed on or before March 8, 2026.
💼 Action for Investors
Investors interested in the dividend should ensure they hold the stock before the February 12 record date. The promoter reclassification is a positive step for corporate governance and may improve the stock's public float and liquidity.
Starteck Finance Q3 Net Profit Surges 106% YoY to ₹7.48 Crore
Starteck Finance reported a robust performance for the quarter ended December 31, 2025, with consolidated net profit doubling to ₹7.48 crore from ₹3.63 crore in the previous year. Total income grew by 65% YoY to ₹15.66 crore, significantly bolstered by a sharp rise in other income. The company's core revenue from operations also saw healthy growth of 16.2% YoY. For the nine-month period, the company has already surpassed its previous full-year profit, reaching ₹18.38 crore.
Key Highlights
Consolidated Net Profit increased 105.9% YoY to ₹747.71 lakh from ₹363.11 lakh.
Total Income rose 65.1% YoY to ₹1,566.19 lakh, driven by a surge in Other Income to ₹548.09 lakh.
Revenue from operations grew 16.2% YoY to ₹1,018.10 lakh compared to ₹876.13 lakh in Q3 FY25.
Basic EPS for the quarter improved to ₹7.54 from ₹3.66 in the corresponding quarter of the previous year.
Nine-month consolidated net profit reached ₹1,838.10 lakh, representing a 103.9% growth over the same period last year.
💼 Action for Investors
The company shows strong earnings momentum and efficient cost management, making it a positive watch for growth-oriented investors. However, investors should monitor the sustainability of 'Other Income' which significantly contributed to the bottom line this quarter.
Megastar Foods Approves Q3 and Nine Months FY26 Unaudited Financial Results
Megastar Foods Limited has approved its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The board meeting was held on February 5, 2026, and the results were reviewed by the Audit Committee and statutory auditors M/s Nitin Mahajan & Associates. While the specific financial figures were not detailed in the cover letter, the company has confirmed the completion of the limited review process. Investors should now access the full financial statements on the exchange to evaluate the company's growth trajectory.
Key Highlights
Board approved unaudited standalone and consolidated financial results for Q3 and 9M FY26.
Statutory auditors M/s Nitin Mahajan & Associates issued Limited Review Reports for the period.
The board meeting was conducted between 11:00 AM and 1:00 PM on February 5, 2026.
Results have been submitted to both BSE and NSE as per SEBI Listing Regulations.
💼 Action for Investors
Investors should review the detailed financial tables in the full report to analyze revenue growth and margin performance. Compare the Q3 results against the previous year's corresponding quarter to assess the company's operational momentum.
Megastar Foods Approves Q3 FY26 Unaudited Standalone and Consolidated Financial Results
Megastar Foods Limited has officially approved its unaudited financial results for the quarter and nine months ended December 31, 2025. The board meeting, conducted on February 5, 2026, covered both standalone and consolidated financial statements. Statutory auditors M/s Nitin Mahajan & Associates have issued a limited review report for the period. This announcement fulfills the regulatory requirements under SEBI Listing Regulations for quarterly reporting.
Key Highlights
Board approved Un-audited Standalone and Consolidated Financial Results for the quarter ended December 31, 2025.
Statutory Auditors M/s Nitin Mahajan & Associates provided the Limited Review Reports.
The board meeting commenced at 11:00 AM and concluded at 01:00 PM on February 5, 2026.
The results were reviewed and recommended by the Audit Committee prior to board approval.
💼 Action for Investors
Investors should examine the detailed financial tables to assess revenue growth and margin stability in the food processing segment. Compare the nine-month cumulative performance against the previous fiscal year to identify long-term trends.