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Pine Labs Q3 FY26 Standalone Net Profit Surges to ₹56.63 Cr; Revenue Up 26% QoQ
Pine Labs reported a strong financial performance for Q3 FY26, achieving a standalone net profit of ₹56.63 crore, a significant turnaround from a loss of ₹2.50 crore in the previous quarter. Revenue from operations grew by 26% sequentially to ₹548.40 crore, driven by increased transaction and related activities. On a year-on-year basis, the net profit saw a substantial jump from ₹15.33 crore in Q3 FY25. While standalone operations are robust, the consolidated entity remains slightly impacted by subsidiaries which contributed a net loss of ₹9.23 crore for the quarter.
Key Highlights
Standalone Revenue from operations increased to ₹548.40 crore in Q3 FY26 from ₹435.00 crore in Q2 FY26.
Net Profit for the quarter stood at ₹56.63 crore, compared to ₹15.33 crore in the same quarter last year.
The company successfully turned around from a standalone loss of ₹2.50 crore in the preceding quarter.
Nine-month (9M FY26) standalone revenue reached ₹1,410.67 crore, up from ₹1,181.60 crore in 9M FY25.
An exceptional item expense of ₹10.82 crore was recorded during the quarter, yet the company maintained strong profitability.
💼 Action for Investors
The strong sequential growth and turnaround to profitability on a standalone basis are positive indicators of operational scaling. Investors should monitor the performance of global subsidiaries to see if consolidated losses narrow in upcoming quarters.
Aditya Birla Real Estate Appoints Keyur Shah as CFO Effective March 1, 2026
Aditya Birla Real Estate Limited has announced the appointment of Mr. Keyur Shah as Chief Financial Officer and Key Managerial Personnel, effective March 1, 2026. He succeeds Mr. Snehal Shah, who will retire on February 28, 2026, following his superannuation. Mr. Keyur Shah is currently the CFO of the company's wholly-owned subsidiary, Birla Estates Private Limited, and brings over 30 years of experience. His background includes a significant tenure at HDFC, where he served as MD and CEO of HDFC Property Ventures Limited.
Key Highlights
Mr. Keyur Shah to take over as CFO and KMP starting March 1, 2026
Outgoing CFO Mr. Snehal Shah retires effective close of business on February 28, 2026
New appointee has over 30 years of experience in real estate investment and finance
Mr. Keyur Shah previously served as MD and CEO of HDFC Property Ventures Limited
Transition leverages internal talent as the appointee is the current CFO of subsidiary Birla Estates
💼 Action for Investors
This is a planned leadership succession with an experienced professional. Investors should view this as a routine management update and monitor for any changes in financial strategy post-March 2026.
Shriram Finance Receives GST Penalty Orders Totaling ₹1.56 Crore for FY21 and FY22
Shriram Finance Limited has received two tax orders from the Commercial Tax Officer, Chennai South, imposing penalties for the financial years 2020-21 and 2021-22. The total penalty amount is approximately ₹1.56 Crore, which pertains to the erstwhile Shriram City Union Finance Limited (now merged with the company). The demands arose due to the disallowance of input tax credit (ITC) on reverse charge mechanism (RCM) payments and credit notes. The company has stated that these orders have no material impact on its financial or operational activities and is currently seeking professional tax advice.
Key Highlights
Penalty of ₹1,05,40,655 levied for FY 2020-2021 along with an equivalent tax demand.
Penalty of ₹50,35,342 levied for FY 2021-2022 along with an equivalent tax demand.
Total financial implication including tax and penalty is approximately ₹3.12 Crore.
The order relates to the erstwhile Shriram City Union Finance Limited which was amalgamated with the company in April 2022.
Company is awaiting opinion from tax consultants regarding the Tamil Nadu state demand orders.
💼 Action for Investors
No immediate action is required as the penalty amount is negligible relative to the company's overall scale and profitability. Investors should view this as a routine regulatory matter common in the NBFC sector.
Aditya Birla Real Estate Q3 Net Profit at ‑44.05 Cr; Appoints Keyur Shah as New CFO
Aditya Birla Real Estate (formerly Century Textiles) reported a total net profit of ‑44.05 crore for Q3 FY26, a significant year-on-year increase from ‑12.92 crore, though down sequentially from ‑79.31 crore. Profit from continuing operations was impacted by exceptional items totaling ‑17.34 crore, primarily due to impairments in a joint venture. The company also announced a key leadership transition with Mr. Keyur Shah set to take over as CFO from March 1, 2026. The core real estate segment contributed ‑46.70 crore to the quarterly revenue as the company continues its structural shift.
Key Highlights
Total Net Profit for Q3 FY26 stood at ‑44.05 crore versus ‑12.92 crore in the same period last year.
Revenue from continuing operations reached ‑126.41 crore, with the Real Estate segment contributing ‑46.70 crore.
Exceptional items of ‑17.34 crore (continuing) and ‑29.89 crore (discontinued) weighed on the quarterly performance.
Mr. Keyur Shah appointed as CFO and KMP effective March 1, 2026, following the superannuation of Mr. Snehal Shah.
Discontinued operations, including Pulp and Paper, contributed a net profit of ‑32.05 crore during the quarter.
💼 Action for Investors
Investors should monitor the execution of the real estate pipeline as the company transitions away from its legacy textile and paper businesses. The management change at the CFO level is a key event to watch for future capital allocation strategies.
Maruti Suzuki Q3 FY26 Net Profit Rises to ₹3,794 Cr; Revenue Up 17.8% YoY
Maruti Suzuki reported a strong top-line performance for Q3 FY26 with standalone revenue reaching ₹49,891 crore, up 17.8% from ₹42,332 crore in the year-ago period. Net profit grew modestly to ₹3,794 crore compared to ₹3,659 crore YoY, primarily due to a one-time provision for new labour codes. The company recognized an incremental impact of ₹593.9 crore related to revised wage definitions for gratuity and leave encashment. Additionally, the merger with Suzuki Motor Gujarat (SMG) was successfully completed and reflected in the restated financials.
Key Highlights
Revenue from operations increased 17.8% YoY to ₹49,891 crore.
Standalone Net Profit stood at ₹3,794 crore, up 3.7% YoY despite regulatory cost hits.
Recognized a one-time incremental impact of ₹5,939 million (₹593.9 crore) due to new Labour Codes.
Earnings Per Share (EPS) for the quarter rose to ₹120.61 from ₹116.39 YoY.
Amalgamation of Suzuki Motor Gujarat Private Limited became effective from December 1, 2025.
💼 Action for Investors
Investors should focus on the robust revenue growth and treat the profit suppression as a one-time regulatory adjustment. The successful integration of the Gujarat plant and steady EPS growth support a long-term positive outlook.
NTPC Green Energy Commissions 130.47 MW Solar Capacity at Khavda-I Project
NTPC Green Energy Limited has declared the commercial operation of a 130.47 MW solar capacity at its Khavda-I project in Gujarat, effective January 29, 2026. This capacity is the tenth part of a larger 1255 MW project being executed by its wholly-owned subsidiary, NTPC Renewable Energy Limited. Following this addition, the group's total installed capacity has risen to 8478.25 MW. The current commercial capacity for the group now stands at 8347.78 MW, marking steady progress in its renewable energy targets.
Key Highlights
130.47 MW solar capacity commissioned at Khavda-I Solar PV Project in Gujarat
Total group installed capacity increased to 8478.25 MW
Group commercial capacity reaches 8347.78 MW following this addition
Project is part of the CPSU scheme Phase-II Tranche-III
💼 Action for Investors
Investors should remain positive as the company continues to operationalize its large renewable pipeline, enhancing revenue potential. Track the commissioning of the remaining portion of the 1255 MW Khavda project.
BEL Q3 Standalone Revenue Jumps 23.7% YoY to ₹7,122 Crore
Bharat Electronics Limited (BEL) reported a strong standalone revenue of ₹7,121.98 crore for the quarter ended December 31, 2025, compared to ₹5,756.12 crore in the corresponding quarter of the previous year. For the nine-month period, standalone revenue reached ₹17,302.46 crore, marking a significant growth over the ₹14,538.30 crore recorded in the same period last year. While the core operations show robust growth, the company's subsidiaries reported a net loss of ₹3.21 crore for the nine-month period. Additionally, the company noted six vacancies for Independent Directors on its board, which are pending government appointments.
Key Highlights
Standalone revenue from operations for Q3 FY26 grew 23.7% YoY to ₹7,121.98 crore.
Total standalone income for the nine months ended December 2025 stood at ₹17,784.70 crore.
Subsidiaries BEL Optronics and BEL-Thales contributed ₹75.15 crore to Q3 consolidated revenue.
The company reported six temporary vacancies of Independent Directors as of December 31, 2025.
Other income for the nine-month period stood at ₹482.24 crore compared to ₹573.41 crore in the previous year.
💼 Action for Investors
The strong top-line growth indicates healthy execution of the order book; investors should remain positive but monitor the impact of board vacancies on governance and the profitability of subsidiaries.
Mufin Green Finance Withdraws ₹41.45 Cr Non-Cash Preferential Issue Component
Mufin Green Finance has decided to partially withdraw its preferential issue plan by cancelling the issuance of 42,29,996 equity shares intended for non-cash consideration. This component was valued at approximately ₹41.45 crore at a price of ₹98 per share. The withdrawal is due to regulatory challenges regarding the valuation for consideration other than cash. Importantly, the company is proceeding with its larger cash-based fundraise of ₹341.44 crore and a warrant issue of ₹75 crore.
Key Highlights
Cancellation of 42,29,996 equity shares priced at ₹98 per share for non-cash consideration.
The withdrawn portion represents an aggregate value of ₹41.45 crore.
The ₹341.44 crore cash-based equity issue (3.48 crore shares) remains unchanged.
The ₹75 crore warrant issue (76.53 lakh warrants) also remains active and unchanged.
Withdrawal attributed to non-finalization of regulatory approvals for non-cash valuation.
💼 Action for Investors
Investors should focus on the successful execution of the remaining ₹416 crore cash-based fundraise, which is the primary driver for growth. The withdrawal of the non-cash portion is a minor regulatory setback and does not impact the company's liquidity or core operations.
Punjab Chemicals Q3 PAT Surges 110% YoY to ₹13.99 Cr; Revenue Up 15%
Punjab Chemicals reported a strong year-on-year performance for Q3 FY26, with standalone revenue growing 15% to ₹245.9 crore compared to ₹213.6 crore in the previous year. Net profit (PAT) saw a significant jump of 110% YoY to ₹13.99 crore, although it declined sequentially from ₹17.39 crore in Q2 FY26. The company recognized an exceptional expense of ₹2.08 crore due to the implementation of New Labour Codes. For the nine-month period, the company demonstrated robust growth with PAT increasing by 59% to ₹51.45 crore.
Key Highlights
Revenue from operations grew 15.1% YoY to ₹245.92 crore in Q3 FY26.
Net Profit (PAT) surged 110% YoY to ₹13.99 crore, with EPS rising to ₹11.41 from ₹5.42.
Nine-month (9M FY26) PAT stands at ₹51.45 crore, a 59.2% increase over the previous year.
Exceptional item of ₹2.08 crore recorded towards provision for employee benefits under New Labour Codes.
Interest income of ₹1.86 crore accrued on income tax refunds during the quarter following favorable ITAT orders.
💼 Action for Investors
Investors should note the strong year-on-year recovery and margin expansion in the performance chemicals segment. While there is a slight sequential dip, the overall nine-month growth trajectory remains robust, making it a positive hold for long-term investors.
Supreme Petrochem Q3 FY26: Revenue Falls 10% to ₹1,265 Cr; ABS Plant Operations Suspended
Supreme Petrochem reported a 10% YoY decline in Q3 FY26 operating income to ₹1,265 crores, primarily due to a sharp drop in Styrene Monomer (SM) prices from $1,040 to $810. While sales volumes grew to 91,265 MT, net profit for the quarter stood at ₹30 crores with an operating EBITDA margin of 5.47%. A significant operational setback occurred as the newly commissioned 70,000 MTPA ABS plant was suspended in December 2025 due to critical equipment failure. Despite these challenges, the company remains debt-free with an investible surplus of ₹463 crores.
Key Highlights
Operating income fell 10% YoY to ₹1,265 crores as average SM prices dropped to $810 per MT.
Sales volume increased to 91,265 MT in Q3 FY26 from 85,537 MT in the previous year.
Operations at the new 70,000 MTPA ABS plant are currently suspended due to a proprietary equipment malfunction.
Company remains debt-free with an investible surplus of ₹463 crores as of December 31, 2025.
Polystyrene and EPS plants maintained healthy utilization levels of 80% and 88% respectively.
💼 Action for Investors
Investors should closely monitor the timeline for the ABS plant's restoration as it is a critical component for future growth and margin expansion. The current volatility in raw material prices and operational delays suggest a cautious outlook in the near term.
AGS Transact Extends Resolution Plan Submission Deadline to February 3, 2026
AGS Transact Technologies, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP), has extended the deadline for prospective resolution applicants to submit their plans. The new deadline is now February 3, 2026, shifted from the previous undisclosed date following requests from bidders and approval by the Committee of Creditors (CoC). This extension suggests that there is active interest from potential buyers, though the company remains under the control of a Resolution Professional. Shareholders should remain aware that insolvency proceedings typically involve significant risk to equity value.
Key Highlights
Deadline for submission of Resolution Plans extended to February 3, 2026
Extension granted following formal requests from Prospective Resolution Applicants
The Committee of Creditors (CoC) has officially approved the timeline revision
Company remains under Corporate Insolvency Resolution Process (CIRP) as per SEBI regulations
Brijendra Kumar Mishra continues as the Deemed Resolution Professional overseeing the process
💼 Action for Investors
Investors should monitor the February 3 deadline closely for news on the number and quality of bids received. Given the insolvency status, the stock remains highly speculative and equity holders often face significant haircuts in final resolution plans.
KPIL to Host Q3FY26 Earnings Conference Call on February 5, 2026
Kalpataru Projects International Limited (KPIL) has scheduled its post-results conference call for Thursday, February 5, 2026, at 08:30 AM IST. The management will discuss the unaudited financial performance for the third quarter and nine months ended December 31, 2025. Key leadership, including the MD & CEO Manish Mohnot and CFO Ram Patodia, will be present to interact with analysts and institutional investors. This is a routine but essential event for understanding the company's growth trajectory and order book execution.
Key Highlights
Conference call scheduled for February 5, 2026, at 08:30 hrs IST following Q3 results.
Management team including MD & CEO, Deputy MD, and CFO to lead the discussion.
Focus on financial results for the quarter and nine months ended December 31, 2025.
Universal dial-in numbers for the call are +91 22 6280 1384 and +91 22 7115 8285.
💼 Action for Investors
Investors should listen to the call for updates on the order book, execution timelines, and margin outlook for the remainder of FY26. No immediate action is required until the actual financial results are released.
ICICI Prudential Life Allots 31,000 Equity Shares Under ESOP Scheme
ICICI Prudential Life Insurance Company Limited has announced the allotment of 31,000 equity shares on January 28, 2026. These shares were issued under the company's Employees Stock Option Scheme (2005) following approval by the MD & CEO. Each share has a face value of ₹10 and will rank pari-passu with existing equity shares. This is a routine administrative action involving a very small fraction of the total paid-up capital.
Key Highlights
Allotment of 31,000 equity shares under the Employees Stock Option Scheme (2005).
Face value of the allotted shares is ₹10 per share.
Allotment approved by the Managing Director & CEO on January 28, 2026.
New shares will rank pari-passu with existing equity shares in all respects.
💼 Action for Investors
No action is required from investors as this is a routine ESOP allotment with negligible impact on shareholding value. Monitor for larger capital changes in future quarterly reports.
XL Energy Share Capital Audit: 16.01 Lakh Shares Pending Listing Due to NSE Appeal
XL Energy is undergoing capital restructuring following an NCLT-approved Resolution Plan, with 16,01,100 equity shares issued. However, the listed capital remains at zero as in-principle approvals from BSE and NSE are currently pending. The dematerialized credit of 16,01,065 shares is stalled due to an ongoing appeal filed by the NSE before the NCLAT. Additionally, the company is currently operating without a dedicated Company Secretary, with a Director handling compliance matters.
Key Highlights
Total issued capital stands at 16,01,100 equity shares under the NCLT Resolution Plan.
Listed capital is currently NIL as stock exchange approvals are pending the outcome of an NSE appeal.
Credit of 16,01,065 shares in demat form is pending completion of corporate actions.
Only 35 shares are currently held in physical form, representing the only non-pending portion of capital.
Company is in the process of appointing a Company Secretary; Director Naresh Jain is currently managing compliance.
💼 Action for Investors
Investors should closely monitor the NCLAT proceedings regarding the NSE appeal, as the relisting and liquidity of shares depend entirely on this legal outcome. This remains a high-risk recovery play subject to regulatory clearances.
NMDC CMD Amitava Mukherjee Given Additional Charge as Director (Finance) for 3 Months
The Ministry of Steel has assigned the additional charge of Director (Finance) at NMDC Limited to the current Chairman and Managing Director (CMD), Shri Amitava Mukherjee. This appointment is for an initial period of 03 months, effective retrospectively from December 6, 2025, until March 5, 2026, or until further orders. Such arrangements are common in Public Sector Undertakings (PSUs) to ensure leadership continuity during transition periods. Investors should view this as a routine administrative measure to maintain financial oversight.
Key Highlights
CMD Amitava Mukherjee entrusted with additional charge of Director (Finance).
Assignment is for an initial period of 03 months starting from December 6, 2025.
The tenure is scheduled to end on March 5, 2026, unless further orders are issued.
The decision follows Ministry of Steel Order No. S-14013/1/2024-BLA-Part(1) dated January 27, 2026.
💼 Action for Investors
This is a routine management update for a PSU and does not impact the company's fundamentals. Investors should continue to monitor for the appointment of a permanent Director (Finance).
HMVL Q3 FY26 Results: Total Revenue Up 7% YoY to ₹236 Cr; PAT at ₹17 Cr
Hindustan Media Ventures Limited (HMVL) reported a 7% YoY increase in total revenue to ₹236 crore for the quarter ended December 31, 2025. While EBITDA declined 9% YoY to ₹23 crore, it showed a strong sequential recovery of 27% compared to Q2 FY26. The Hindi print segment saw a marginal 4% YoY decline in advertising revenue to ₹123 crore, primarily due to shifts in the festive calendar. Profit After Tax (PAT) stood at ₹17 crore, representing a significant 68% growth on a quarter-on-quarter basis.
Key Highlights
Total Revenue grew 7% YoY to ₹236 crore in Q3 FY26.
PAT reached ₹17 crore, up 68% sequentially from ₹10 crore in Q2 FY26.
Hindi Print Ad Revenue declined 4% YoY to ₹123 crore, while Circulation Revenue remained stable at ₹38 crore.
Raw material expenses decreased by 3% YoY to ₹54 crore, reflecting disciplined cost management.
Group-level Digital segment revenue surged 30% YoY to ₹67 crore, showing strong momentum in new-age platforms.
💼 Action for Investors
Investors should monitor the recovery in Hindi advertising revenue and the sustainability of the sequential margin improvement. The growth in the digital segment is a positive long-term driver, but the core print business remains sensitive to festive cycles and newsprint costs.
HT Media Q3 FY26: PAT Turns Positive at ₹17 Cr, Digital Revenue Surges 30% YoY
HT Media reported a significant turnaround in profitability for Q3 FY26, posting a PAT of ₹17 crore compared to a loss of ₹3 crore in the same quarter last year. Total revenue remained stable at ₹532 crore, supported by a robust 30% growth in the Digital segment and a 16% sequential increase in English Print advertising. While the Radio business faced headwinds with a 34% revenue decline due to high base effects, the overall EBITDA margin improved to 10%. The company continues to maintain a strong liquidity position with net cash of ₹945 crore.
Key Highlights
Consolidated PAT turned positive at ₹17 Cr in Q3 FY26 versus a loss of ₹3 Cr in Q3 FY25.
Digital segment revenue grew 30% YoY to ₹67 Cr, driven by properties like OTTplay.
Print segment EBITDA expanded 43% YoY to ₹60 Cr, with margins improving to 15%.
Radio revenue declined 34% YoY to ₹34 Cr, resulting in an operating EBITDA loss of ₹5 Cr.
Maintained a strong balance sheet with net cash of ₹945 Cr as of December 31, 2025.
💼 Action for Investors
Investors should focus on the company's successful pivot toward digital growth and its return to bottom-line profitability. While the Radio segment remains a drag, the strong cash reserves and improving Print margins provide a solid foundation for long-term recovery.
CSB Bank Q3 FY26 Results: Net Profit Flat at ₹153 Cr; Asset Quality Weakens to 1.96% GNPA
CSB Bank reported a marginal 0.7% YoY growth in Net Profit to ₹152.67 crore for the quarter ended December 31, 2025, while profit declined 4.8% on a sequential basis. Total income grew strongly by 25.6% YoY to ₹1,430.7 crore, driven by robust interest income growth. However, the bottom line was pressured by a sharp spike in provisions, which rose to ₹86.77 crore from ₹16.53 crore a year ago. Asset quality showed signs of stress as Gross NPA increased to 1.96% compared to 1.58% in the same quarter last year.
Key Highlights
Net Profit remained nearly stagnant at ₹152.67 crore vs ₹151.63 crore YoY.
Operating Profit grew by 32.4% YoY to ₹292.11 crore, showing strong core performance before provisions.
Provisions and contingencies surged significantly to ₹86.77 crore from ₹16.53 crore in the year-ago period.
Gross NPA ratio deteriorated to 1.96% from 1.58% YoY; Net NPA rose to 0.67% from 0.64%.
Return on Assets (RoA) declined to 1.18% from 1.45% YoY, reflecting margin and credit cost pressures.
💼 Action for Investors
Investors should exercise caution as strong top-line growth is being offset by rising credit costs and deteriorating asset quality. Monitor management commentary regarding the source of slippages and the outlook for provisioning in the next quarter.
Kaya Q3 FY26: Revenue Grows 3% YoY, Net Loss Widens Significantly to ₹35.5 Crore
Kaya Limited reported a marginal 3% year-on-year growth in standalone revenue to ₹60.03 crore for Q3 FY26. However, the net loss more than doubled to ₹35.55 crore compared to ₹15.40 crore in the same quarter last year, driven by a sharp rise in other expenses and an exceptional item of ₹5.19 crore. The company continues to face severe financial stress with a negative net worth and working capital position, relying heavily on promoter support to remain a going concern.
Key Highlights
Revenue from operations increased to ₹6,003.66 Lakhs in Q3 FY26 from ₹5,835.06 Lakhs in Q3 FY25.
Net loss widened to ₹3,554.87 Lakhs for the quarter, compared to a loss of ₹1,539.81 Lakhs in the previous year.
Recognized an exceptional charge of ₹519.23 Lakhs related to the impact of new Labour Codes.
Other expenses surged by 68% YoY to ₹3,976.48 Lakhs from ₹2,365.18 Lakhs.
Auditors highlighted a 'going concern' risk as the company has negative net worth and working capital as of December 31, 2025.
💼 Action for Investors
Investors should exercise extreme caution due to the company's widening losses and negative net worth. The stock remains high-risk, with survival currently dependent on continuous financial support from the promoter group.
Indo Thai Securities Secures ₹10 Crore Unsecured Loan at 10% Interest
Indo Thai Securities Limited has entered into a loan agreement to borrow ₹10 crore from Yash Technologies Private Limited. The loan is unsecured and carries an interest rate of 10% per annum, with both principal and interest payable upon maturity. The agreement specifies a short-term tenure of four months, which can be adjusted through mutual consent. Although identified as a related party transaction due to a common director/executive, the company maintains the deal is at arm's length.
Key Highlights
Total unsecured loan amount of ₹10,00,00,000 (₹10 Crores)
Interest rate fixed at 10% per annum payable on maturity
Short-term tenure of 4 months from the date of fund receipt
Related party transaction as Independent Director is CFO of the lender
No security or collateral provided for the loan
💼 Action for Investors
This appears to be a routine short-term working capital arrangement; investors should monitor if this debt is settled within the 4-month window or if it becomes a recurring liability.