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Raymond Realty to Invest in New Subsidiary Chembur Realty Limited
Raymond Realty Limited has approved an initial investment of ₹10,000 to subscribe to the paid-up capital of its newly incorporated wholly-owned subsidiary, Chembur Realty Limited (CRL). CRL was incorporated on October 29, 2025, with an authorized share capital of ₹1,00,000 to undertake real estate business. This move indicates the company's intent to potentially develop or manage projects specifically in the Chembur micro-market. The investment is nominal at this stage but establishes the corporate structure for future operations.
Key Highlights
Initial investment of ₹10,000 for 1,000 equity shares at ₹10 each
Chembur Realty Limited is a 100% wholly-owned subsidiary of Raymond Realty
Authorized share capital of the new entity is ₹1,00,000
CRL was incorporated on October 29, 2025, to focus on real estate business
💼 Action for Investors
This is a routine corporate structuring move with a nominal initial investment. Investors should monitor for future project launches or land acquisition announcements specifically related to this new subsidiary.
Asian Paints Q3 Standalone PAT Dips 7.1% YoY to ₹1,025 Cr; Revenue Up 2.8%
Asian Paints reported a modest 2.8% YoY growth in standalone revenue for Q3 FY26, reaching ₹7,624.50 crore. However, Standalone Profit After Tax (PAT) declined by 7.1% YoY to ₹1,025.34 crore, primarily impacted by an exceptional item of ₹166.53 crore. On a sequential basis, revenue grew by 3.6% compared to the September 2025 quarter. The company's 9-month performance remains stable with a 6.5% increase in standalone net profit compared to the previous year.
Key Highlights
Standalone Revenue from operations grew 2.8% YoY to ₹7,624.50 crore from ₹7,417.83 crore.
Standalone Net Profit (PAT) decreased by 7.1% YoY to ₹1,025.34 crore due to higher expenses and exceptional items.
An exceptional item of ₹166.53 crore was recorded in Q3 FY26, impacting the bottom line.
Total standalone expenses for the quarter increased to ₹6,300.87 crore compared to ₹6,168.41 crore in the year-ago period.
9M FY26 Standalone PAT stands at ₹3,080.53 crore, representing a 6.5% growth over 9M FY25.
💼 Action for Investors
Investors should monitor the management commentary regarding the nature of the exceptional item and volume growth outlook in the decorative segment. While the revenue growth is tepid, the long-term structural story remains intact, though near-term margin pressure persists.
Asian Paints Q3 Standalone Revenue Up 2.8% YoY to ₹7,624 Cr; PAT Dips 7% on Exceptional Items
Asian Paints reported a modest 2.8% year-on-year growth in standalone revenue from operations, reaching ₹7,624.50 crore for the quarter ended December 2025. However, standalone Net Profit (PAT) declined by 7.1% YoY to ₹1,025.34 crore, primarily weighed down by an exceptional item of ₹166.53 crore. On a sequential basis, revenue grew by 3.6% compared to the September 2025 quarter. Total expenses rose to ₹6,300.87 crore, with a notable increase in employee benefits and depreciation costs compared to the previous year.
Key Highlights
Standalone Revenue from Operations grew 2.8% YoY to ₹7,624.50 crore.
Standalone Net Profit (PAT) fell 7.1% YoY to ₹1,025.34 crore from ₹1,104.05 crore.
Profit was impacted by an exceptional charge of ₹166.53 crore during the quarter.
Nine-month standalone revenue stands at ₹22,849.24 crore, up from ₹22,360.24 crore YoY.
Employee benefit expenses increased by 13.9% YoY to ₹532.54 crore.
💼 Action for Investors
Investors should monitor the management's commentary regarding the nature of the exceptional item and volume growth trends in the decorative segment. While revenue growth is steady, the profit dip suggests margin pressure or one-off costs that need further clarification during the investor call.
Tata Power TPREL Crosses 10 GW EPC Milestone; Q3 FY26 Capacity Up 139% YoY
Tata Power Renewable Energy Limited (TPREL) has hit a major milestone of 10 GW in EPC project execution, split between 9.7 GW solar and 290 MW wind. The company demonstrated accelerated growth in FY26, commissioning 1.88 GW in the first nine months, a 33% YoY increase. Q3 FY26 was particularly strong with 941 MW commissioned, marking a 139% YoY jump. With a total utility-scale operational capacity of 6.0 GW and a target to add 0.75 GW more in FY26, the company is aggressively expanding its green footprint.
Key Highlights
Total EPC execution reached 10 GW, including 4.2 GW in-house and 5.8 GW third-party projects
9M FY26 commissioning rose 33% YoY to 1.88 GW compared to 1.4 GW in 9M FY25
Q3 FY26 saw record quarterly additions of 941 MW, a 139% increase over Q3 FY25
Utility-scale operational capacity stands at 6.0 GW, with 7.5 GW total clean energy generation
💼 Action for Investors
Maintain a positive outlook as the company successfully scales its renewable EPC business and utility portfolio. Monitor the progress of the remaining 0.75 GW target for FY26.
Orient Bell Q3 FY26 Net Profit Jumps 244% YoY to ₹3.00 Cr; Revenue Up 3.5%
Orient Bell Limited reported a strong bottom-line performance for Q3 FY26, with standalone net profit surging to ₹3.00 crore from ₹0.87 crore in the same quarter last year. While revenue growth remained modest at 3.5% YoY reaching ₹166.44 crore, the company achieved significant margin expansion. For the nine-month period ended December 2025, the company recorded a net profit of ₹5.04 crore, marking a massive recovery from the ₹0.06 crore reported in the previous year. This turnaround highlights improved operational efficiency and better cost management despite a challenging demand environment.
Key Highlights
Standalone Net Profit surged 244% YoY to ₹3.00 crore in Q3 FY26.
Revenue from operations grew 3.5% YoY to ₹166.44 crore compared to ₹160.82 crore in Q3 FY25.
Profit Before Tax (PBT) for 9M FY26 reached ₹6.75 crore vs ₹0.18 crore in 9M FY25.
Basic EPS improved significantly to ₹2.05 from ₹0.59 in the year-ago quarter.
Finance costs reduced to ₹0.94 crore in Q3 FY26 from ₹1.08 crore in Q3 FY25, aiding the bottom line.
💼 Action for Investors
The sharp recovery in profitability despite stagnant revenue suggests a successful turnaround in operational efficiency. Investors should hold and monitor if the company can translate this margin improvement into higher top-line growth in future quarters.
Rishabh Instruments: Statutory Auditor M S K A & Associates Converts to LLP
Rishabh Instruments Limited has informed the stock exchanges that its statutory auditor, M S K A & Associates, has converted into a Limited Liability Partnership (LLP). The firm will now be known as M S K A & Associates LLP as per the provisions of the Limited Liability Partnership Act, 2008. The company confirmed that this structural change will not affect the existing audit engagement or the terms of their appointment. The auditors will continue to serve for the remainder of their current tenure.
Key Highlights
Statutory Auditor M S K A & Associates converted to M S K A & Associates LLP
Conversion is in accordance with the Limited Liability Partnership Act, 2008
No change in the existing audit engagement or scope of work
The firm will continue as Statutory Auditors for the remaining period of their tenure
💼 Action for Investors
This is a routine administrative update regarding the legal structure of the audit firm and has no impact on the company's operations or financials. No action is required from investors.
TVS Motor Reschedules 3QFY26 Earnings Conference Call to Jan 28, 2026, at 2:45 PM
TVS Motor Company has rescheduled its analyst conference call to discuss the 3QFY26 financial results. The call is now set for Wednesday, 28th January 2026, at 02:45 PM IST, moving from its previously planned slot. Senior management, including the CEO and CFO, will be present to address the company's quarterly performance and outlook. This update is a routine administrative change following the initial announcement on January 13, 2026.
Key Highlights
Conference call for 3QFY26 results rescheduled to 02:45 PM IST on January 28, 2026.
Management presence includes CEO Mr. K N Radhakrishnan and CFO Mr. K Gopala Desikan.
The call is hosted by Batlivala & Karani Securities India Pvt Ltd.
Universal dial-in numbers provided are +91 22 6280 1222 and +91 22 7115 8123.
💼 Action for Investors
Investors and analysts should update their schedules to ensure participation in the 2:45 PM call for insights into the company's Q3 performance. No fundamental change in business operations is indicated by this timing adjustment.
Raymond Realty Reports Q3 PAT of ₹49.15 Cr; 9M Revenue Crosses ₹1,068 Cr Post-Demerger
Raymond Realty Limited, following its demerger from Raymond Ltd, reported a standalone Profit After Tax (PAT) of ₹49.15 crore for the quarter ended December 31, 2025. Revenue from operations for Q3 stood at ₹364.49 crore, reflecting a slight sequential decline from ₹390.61 crore in Q2 FY26. For the nine-month period (9M FY26), the company achieved a total income of ₹1,138.61 crore and a PAT of ₹134.49 crore. As this is the first year of independent operations post-demerger, year-on-year comparisons are not fully applicable, but the company shows a steady profit margin of approximately 13.5% for the quarter.
Key Highlights
Revenue from operations for Q3 FY26 stood at ₹364.49 crore compared to ₹390.61 crore in the previous quarter.
Net Profit (PAT) for the quarter was ₹49.15 crore with a basic EPS of ₹7.38.
Nine-month (9M FY26) total income reached ₹1,138.61 crore with a cumulative PAT of ₹134.49 crore.
Profit Before Tax (PBT) for the quarter was ₹61.12 crore, maintaining healthy operational efficiency.
The company completed its capital reorganization with 6.65 crore equity shares allotted in a 1:1 ratio following the demerger.
💼 Action for Investors
Investors should focus on the company's ability to maintain sales momentum and project execution as an independent entity. While sequential revenue dipped slightly, the healthy 9M PAT of ₹134 crore provides a strong baseline for valuation in the real estate sector.
Tilaknagar Industries Appoints Rajesh Choudhary as CFO; Imperial Blue Sales Hit 1.79M Cases
Tilaknagar Industries has announced a significant leadership reshuffle, appointing Rajesh Choudhary as the new CFO. Mr. Choudhary brings 29 years of experience, including 22 years in the Alcobev industry with Pernod Ricard India. The company also reported that its newly acquired Imperial Blue Whisky brand achieved primary sales of 1.79 million cases in December 2025, its first month under the TI banner. These changes, along with several senior management re-designations, aim to strengthen governance and support the company's premiumization and expansion strategy.
Key Highlights
Rajesh Choudhary appointed as CFO, bringing 22 years of Alcobev industry experience from Pernod Ricard India.
Imperial Blue Whisky recorded strong primary sales of 1.79 million cases in December 2025.
Former CFO Abhinav Gupta transitioned to Chief of Internal Audit to oversee risk management and governance.
Multiple leadership re-designations across Legal, Strategy, Sales, and Manufacturing to align with strategic growth.
💼 Action for Investors
Investors should view the leadership strengthening and the immediate volume success of the Imperial Blue acquisition as positive indicators. Monitor the upcoming quarterly results to see how this volume growth impacts the bottom line.
Suratwwala Business Group Bags Pune Redevelopment Project with ₹100-110 Cr Revenue Potential
Suratwwala Business Group Limited has secured a redevelopment project for a housing society on Prabhat Road, Pune, covering a land area of ~11,250 sq. ft. The company has executed a Sale Deed for a 25% share of the plot for ₹9.60 crores and a Development Agreement (DAPA) involving a ₹3 crore payment plus 3 flats to landowners. The project is expected to generate a total revenue of approximately ₹100-110 crores based on management estimates. With a free saleable area of roughly 55,000 sq. ft, this project significantly strengthens the company's real estate portfolio in a prime Pune locality.
Key Highlights
Execution of Sale Deed and DAPA for a redevelopment project on Prabhat Road, Pune, covering ~11,250 sq. ft of land.
Management estimates a total revenue potential of ₹100-110 crores from the project subject to market conditions.
The project offers a free saleable area of approximately 55,000 sq. ft excluding landowner entitlements.
Acquisition costs include ₹9.60 crores for a 25% land share and ₹3 crores plus 3 flats for development rights.
The transaction is a domestic order and does not involve any related party transactions or promoter interest.
💼 Action for Investors
Investors should monitor the company's ability to obtain timely regulatory approvals and the pace of construction, as this project represents a significant revenue pipeline for a company of this scale. The prime location in Pune suggests healthy demand and margin potential.
Tilaknagar Industries Reshuffles Leadership; Appoints Rajesh Choudhary as CFO
Tilaknagar Industries has announced a significant management restructuring following its acquisition of the Imperial Blue business. Mr. Rajesh Choudhary, a veteran with over 29 years of experience including 22 years in the Alcobev industry at Pernod Ricard, has been appointed as the new Chief Financial Officer. The outgoing CFO, Mr. Abhinav Gupta, will transition to a new role as Chief of Internal Audit. This organizational change includes several re-designations at the 'Chief' level across sales, strategy, and legal functions to streamline operations post-acquisition.
Key Highlights
Mr. Rajesh Choudhary appointed as CFO, bringing 22+ years of Alcobev experience from Pernod Ricard India.
Management reshuffle triggered by the organizational needs following the Imperial Blue business acquisition.
Outgoing CFO Mr. Abhinav Gupta transitions to Chief of Internal Audit, maintaining his status as Senior Management.
Key re-designations include Chief Sales Officer, Chief Strategy Officer, and Head of Legal to strengthen the leadership tier.
Mr. Sai Amrutkumar Vegisetti (CIO) formally included in the Senior Management Personnel (SMP) category.
💼 Action for Investors
The induction of an industry veteran from a global major like Pernod Ricard as CFO is a positive signal for financial governance. Investors should view this as a strengthening of the execution team for the company's next growth phase.
Raymond Lifestyle Q3FY26: EBITDA Grows 23% to ₹271 Cr; Domestic Demand Offsets Export Weakness
Raymond Lifestyle reported a 5% YoY increase in total income to ₹1,883 Cr for Q3FY26, driven by strong domestic performance in Branded Textiles which grew 11%. EBITDA saw a significant jump of 23% to ₹271 Cr, with margins expanding by 210 bps to 14.4% due to a better product mix and operating leverage. However, the Garmenting segment revenue fell 17% YoY to ₹258 Cr due to US tariff uncertainties and weak international order books. The company maintains a healthy balance sheet with net debt at just ₹15 Cr and a total retail footprint of 1,675 stores.
Key Highlights
Total Income grew 5% YoY to ₹1,883 Cr, while EBITDA rose 23% to ₹271 Cr in Q3FY26.
Branded Textile segment revenue increased 11% to ₹951 Cr with a robust 21.8% EBITDA margin.
Garmenting revenue declined 17% to ₹258 Cr due to global headwinds and US tariff uncertainty.
Retail network expanded to 1,675 stores with 21 new openings and 9 exits during the quarter.
Net Profit before exceptional items rose 54% to ₹100 Cr, though a ₹57 Cr labor code provision impacted final results.
💼 Action for Investors
Investors should focus on the strong margin expansion in the domestic textile business and monitor the recovery in the garmenting export segment. The company remains a solid play on the Indian wedding and festive consumption cycle with a very lean balance sheet.
Emkay Global Q3 FY26 Standalone PAT at ₹3.13 Cr; Appoints Raunak Karwa as Executive Director
Emkay Global Financial Services reported a standalone profit of ₹3.13 crore for Q3 FY26, marking a recovery from a loss of ₹2.11 crore in the preceding quarter. However, on a year-on-year basis, the profit is significantly lower than the ₹9.86 crore reported in Q3 FY25. For the nine-month period ending December 2025, the company's standalone PAT saw a sharp decline to ₹3.78 crore from ₹47.96 crore in the previous year. The company also announced the appointment of Raunak Karwa as a Whole Time Director and successfully raised ₹44.20 crore through NCDs.
Key Highlights
Standalone Q3 FY26 PAT stood at ₹313.08 Lakhs, recovering from a loss of ₹210.64 Lakhs in Q2 FY26.
9-month standalone PAT dropped by over 92% to ₹378.32 Lakhs compared to ₹4,795.59 Lakhs in the previous year.
Total Revenue for Q3 FY26 increased to ₹84.15 Crore from ₹78.85 Crore in the same quarter last year.
Allotted 4,420 Senior Unsecured NCDs aggregating to ₹44.20 Crores on a private placement basis.
Appointed Mr. Raunak Karwa as Whole Time Director for a 3-year term effective February 1, 2026.
💼 Action for Investors
Investors should exercise caution as the sharp decline in 9-month profitability suggests significant margin pressure despite stable revenue. Monitor the impact of the new leadership and the utilization of the ₹227.5 crore warrant-based fundraise on future growth.
Tata Consumer Q3FY26 Revenue Up 15% to ₹5,112 Cr; Net Profit Surges 36% YoY
Tata Consumer Products reported a strong Q3FY26 with consolidated revenue growing 15% YoY to ₹5,112 crore, driven by robust performance in India Foods and International segments. EBITDA margins expanded by 120 bps to 14.2%, resulting in a 36% jump in Group Net Profit to ₹385 crore. The 'Growth' businesses, including Tata Sampann and RTD, crossed the ₹1,000 crore quarterly revenue milestone with a 29% YoY increase. While the salt business saw 15% volume growth, the tea segment remained modest with 3% growth amid stable input costs.
Key Highlights
Consolidated EBITDA grew 26% YoY to ₹728 crore with margins expanding 120 bps to 14.2%
India Foods segment revenue rose 19% YoY, led by a 45% surge in Tata Sampann sales
Salt business delivered 14% revenue growth on the back of 15% volume growth
International business revenue grew 18% YoY, supported by strong US Coffee performance
Ready-to-Drink (RTD) portfolio maintained momentum with 26% revenue and 27% volume growth
💼 Action for Investors
Investors should focus on the successful scaling of 'Growth' businesses and margin expansion as the company diversifies beyond tea. The stock remains a strong play on the Indian FMCG premiumization and distribution expansion story.
Tata Consumer Q3 Net Profit Jumps 36% to Rs 385 Cr; Revenue Up 15% on Strong Volumes
Tata Consumer Products reported a strong Q3 FY26 with a 36% YoY increase in net profit to Rs 385 crores and a 15% rise in revenue to Rs 5,112 crores. The performance was driven by 15% volume growth in the India Branded business and a robust 29% growth in its emerging 'Growth' businesses. EBITDA margins improved significantly, growing 26% YoY to Rs 728 crores, aided by lower input costs in the tea segment. The company also reached a major milestone with Tata Starbucks crossing the 500-store mark during the quarter.
Key Highlights
Revenue from operations grew 15% YoY to Rs 5,112 Crores with 15% India Branded volume growth.
Consolidated EBITDA rose 26% to Rs 728 Crores, while Group Net Profit surged 36% to Rs 385 Crores.
Tata Sampann recorded 45% growth, and the Ready-to-Drink (RTD) segment grew 26%.
India Coffee business revenue increased by 40%, and Salt revenue grew 14% with strong volumes.
Tata Starbucks reached a milestone of 504 stores across 81 cities after adding 12 new stores.
💼 Action for Investors
Investors should view this as a strong performance indicating successful premiumization and expansion into high-growth categories like RTD and Sampann. The stock remains a solid long-term play in the FMCG sector given the margin expansion and volume-led growth.
HMVL Q3 PAT Drops 95% YoY to ₹0.89 Cr Due to Exceptional Items; Sameer Singh Appointed MD
Hindustan Media Ventures Limited (HMVL) reported a sharp 95% YoY decline in consolidated Net Profit to ₹89 Lakhs for Q3 FY26, down from ₹1,799 Lakhs in the previous year. This decline was primarily driven by a one-time exceptional charge of ₹1,609 Lakhs related to the implementation of new Labour Codes. While revenue from operations grew 7.5% YoY to ₹21,224 Lakhs, the bottom line was severely impacted by these regulatory-driven costs. Additionally, the board has appointed Shri Sameer Singh as Managing Director for a five-year term starting March 1, 2026.
Key Highlights
Revenue from operations increased 7.5% YoY to ₹21,224 Lakhs in Q3 FY26.
Consolidated Net Profit (PAT) fell to ₹89 Lakhs from ₹1,799 Lakhs in Q3 FY25.
Recognized an exceptional loss of ₹1,609 Lakhs for incremental gratuity and compensated absences under new Labour Codes.
EBITDA decreased to ₹2,339 Lakhs compared to ₹2,573 Lakhs in the same quarter last year.
Shri Sameer Singh appointed as Managing Director for a five-year term effective March 1, 2026.
💼 Action for Investors
Investors should be cautious as the sharp profit decline reflects significant regulatory-driven cost pressures, despite modest revenue growth. Monitor the transition to the new leadership under Sameer Singh for potential strategic shifts in the core print business.
Tata Consumer Explores Sale of Property and Stake in Subsidiary TRIL Constructions Limited
Tata Consumer Products Limited (TCPL) has announced that its Board is exploring the potential sale of property held by its subsidiary, TRIL Constructions Limited (TRILC). The proposal also includes the possibility of selling TCPL's entire shareholding in TRILC to monetize assets. Currently, the process is in an exploratory stage, and no definitive agreements have been signed as of January 27, 2026. This move aligns with a strategy to potentially streamline the portfolio and unlock value from non-core assets.
Key Highlights
Board discussed potential sale of property held by subsidiary TRIL Constructions Limited
Proposal includes the potential sale of the Company's entire shareholding in TRILC
No definitive agreement has been executed as of the announcement date January 27, 2026
The proposal is currently exploratory in nature with further disclosures expected upon finalization
💼 Action for Investors
Investors should monitor future updates regarding the valuation and execution of this sale, as it could result in a one-time cash infusion. This divestment may signal a focus on core FMCG operations by exiting construction-related holdings.
HMVL Q3 PAT Drops to ₹0.89 Cr Due to ₹16.1 Cr Exceptional Charge; Sameer Singh Appointed MD
Hindustan Media Ventures Limited (HMVL) reported a sharp decline in consolidated Profit After Tax (PAT) to ₹89 Lakhs for Q3 FY26, down from ₹17.99 Crore YoY, primarily due to a one-time exceptional charge of ₹16.09 Crore related to the new Labour Codes. However, Revenue from Operations showed healthy growth of 7.5% YoY, reaching ₹212.24 Crore. The company also announced a significant leadership change with the appointment of Sameer Singh as Managing Director for a five-year term starting March 2026. While the bottom line was impacted by regulatory provisions, core EBITDA remained resilient at ₹23.39 Crore.
Key Highlights
Consolidated Revenue from Operations grew 7.5% YoY to ₹212.24 Crore in Q3 FY26.
Reported a one-time exceptional loss of ₹16.09 Crore due to provisions for the new Labour Code (gratuity and compensated absences).
Net Profit (PAT) fell significantly to ₹0.89 Crore from ₹17.99 Crore in the same quarter last year.
Sameer Singh appointed as Managing Director effective March 1, 2026, for a 5-year tenure.
Nine-month (9M FY26) revenue stands at ₹592.10 Crore, up from ₹531.64 Crore YoY.
💼 Action for Investors
Investors should treat the profit decline as a non-recurring accounting adjustment due to regulatory changes and focus on the 7.5% revenue growth. Monitor the leadership transition in March 2026 for any shifts in the company's digital or print strategy.
Tata Consumer Q3 Standalone Revenue Up 15% to ₹3,684 Cr; Operating Margins Expand to 11.5%
Tata Consumer Products reported a robust 15% YoY growth in standalone revenue for Q3 FY26, reaching ₹3,684 crore, driven by strong performance in both branded and non-branded segments. Although standalone net profit decreased to ₹320.6 crore from ₹569.8 crore YoY, this was primarily due to a high base effect from a ₹390 crore dividend received from subsidiaries in the previous year's quarter. Operating efficiency improved significantly, with margins rising to 11.52% from 8.49% YoY, supported by tapering tea cost inflation. The company maintains a very healthy balance sheet with a debt-equity ratio of 0.05.
Key Highlights
Standalone Revenue from operations grew 15% YoY to ₹3,684.02 crore for the quarter ended December 31, 2025.
Operating margins improved to 11.52% from 8.49% YoY, reflecting better cost management and lower tea inflation.
Standalone Net Profit of ₹320.64 crore was impacted by the absence of a ₹390 crore one-time dividend income present in the base year.
Exceptional items for the quarter included a ₹35 crore profit from non-core asset sales, offset by a ₹17 crore provision for new labour codes.
Interest Service Coverage Ratio remains strong at 21.05, indicating high financial stability.
💼 Action for Investors
Investors should look past the optical decline in net profit, which was caused by a one-time dividend in the previous year, and focus on the strong 15% revenue growth and expanding operating margins. The company's core business performance remains healthy, making it a solid long-term FMCG pick.
Tata Consumer Q3 Standalone Revenue Up 15% to ₹3,684 Cr; Operating Margins Improve to 11.5%
Tata Consumer Products reported a 15% YoY growth in standalone revenue for Q3 FY26, reaching ₹3,684 crore, driven by strong performance in both branded and non-branded segments. While standalone net profit fell to ₹321 crore from ₹570 crore YoY, this was primarily due to a high base effect from a ₹390 crore dividend received from subsidiaries in the previous year. Operating margins showed healthy improvement, rising to 11.52% from 8.49% YoY, aided by lower tea cost inflation. The company also accounted for a ₹17 crore impact from new labor codes, offset by a ₹35 crore gain from selling non-core assets.
Key Highlights
Standalone Revenue from Operations grew 15% YoY to ₹3,684.02 crore.
Operating Margin improved significantly to 11.52% compared to 8.49% in the same quarter last year.
Standalone Net Profit stood at ₹320.64 crore, impacted by the absence of a one-time ₹390 crore subsidiary dividend seen in Q3 FY25.
Exceptional gain of ₹18.43 crore recorded, including a ₹35 crore profit from non-core asset sales.
Debt-Equity ratio remains very low at 0.05, indicating a strong balance sheet.
💼 Action for Investors
Investors should look past the YoY profit decline, which is purely due to accounting base effects, and focus on the robust 15% revenue growth and margin expansion. The stock remains a solid play in the FMCG sector with improving efficiency in the tea business.