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GRP Ltd Q3 Net Profit Drops 59% YoY to ₹2.36 Cr; Board Cancels Proposed QIP
GRP Limited reported a significant decline in profitability for the quarter ended December 31, 2025, with standalone net profit falling to ₹2.36 crore from ₹5.82 crore in the same period last year. While revenue from operations saw a modest YoY growth of 3.6% to ₹133.31 crore, margins were heavily pressured by rising finance costs and a one-time exceptional charge of ₹1.40 crore related to new labour code provisions. Furthermore, the company has officially scrapped its proposed Qualified Institutional Placement (QIP) as the 365-day regulatory timeline for implementation has expired. The core Reclaim Rubber segment continues to drive the bulk of the revenue but faces margin compression.
Key Highlights
Standalone Revenue from Operations grew 3.6% YoY to ₹133.31 crore in Q3 FY26.
Net Profit plummeted 59.5% YoY to ₹2.36 crore compared to ₹5.82 crore in Q3 FY25.
Recorded an exceptional item of ₹1.40 crore as a one-time provision for employee benefits due to new Labour Codes.
Finance costs rose significantly to ₹3.69 crore from ₹2.66 crore in the year-ago quarter.
Board confirmed non-implementation of the proposed QIP due to the expiration of the 365-day validity period.
💼 Action for Investors
Investors should exercise caution as the sharp decline in bottom-line performance and rising interest costs indicate significant margin pressure. The cancellation of the QIP may suggest either a change in capital expenditure plans or a failure to attract institutional interest at desired valuations.
Sarthak Metals Q3 FY26 Net Profit Rises 6.3% YoY to ₹1.30 Crore; Revenue Up 8.5%
Sarthak Metals Limited (SMLT) reported a steady performance for the quarter ended December 31, 2025, with revenue from operations growing 8.5% YoY to ₹47.73 crore. Net profit for the quarter saw a modest increase to ₹1.30 crore, up from ₹1.22 crore in the corresponding quarter of the previous year. The company continues to maintain a strong financial position with zero debt across all categories. For the nine-month period ended December 2025, the company achieved a total income of ₹131.55 crore and a net profit of ₹3.12 crore.
Key Highlights
Revenue from operations increased to ₹4,772.94 lakhs in Q3 FY26 compared to ₹4,399.70 lakhs in Q3 FY25.
Net profit for the quarter stood at ₹129.72 lakhs, reflecting a 6.3% growth over the previous year's ₹122.02 lakhs.
The company remains completely debt-free with zero outstanding loans or debt securities as of December 31, 2025.
Earnings Per Share (EPS) for the quarter improved to ₹0.95 from ₹0.92 YoY.
Inventory levels rose significantly to ₹3,765.76 lakhs from ₹2,742.11 lakhs in March 2025, suggesting preparation for higher demand.
💼 Action for Investors
The company's debt-free status and consistent profitability in a niche segment like cored wires make it a stable small-cap play. Investors should monitor if the high inventory levels translate into stronger sales growth in the final quarter of the fiscal year.
L&T Wins Significant Road Development Contract in Dubai Worth ₹1,000-2,500 Cr
Larsen & Toubro's Transportation Infrastructure vertical has secured a 'Significant' contract for Phase-1 of the Latifa Bint Hamdan Street development in Dubai. The order, valued between ₹1,000 crore and ₹2,500 crore, involves widening a major road corridor from two to four lanes in each direction. The project includes the construction of a major structural interchange at Sheikh Mohammed Bin Zayed Road (E311) and is scheduled for completion within 36 months. This win further strengthens L&T's international order book and its established presence in the Middle East infrastructure sector.
Key Highlights
Order value classified as 'Significant', ranging from ₹1,000 Cr to ₹2,500 Cr
Project involves widening the road corridor from Emirates Road (E611) to Sheikh Mohammed Bin Zayed Road (E311)
Scope includes a major structural interchange and a new four-lane dual carriageway
Execution timeline for the project is set at 36 months
Strengthens L&T's position in the UAE infrastructure market
💼 Action for Investors
Investors should view this as a positive reinforcement of L&T's strong execution capabilities and growing international order book. The stock remains a solid long-term play on the infrastructure theme across India and the Middle East.
TVS Holdings Gets CARE AA+ Rating for ₹950 Cr NCDs; Debt Cover at 94x TVS Motor Stake
CARE Ratings has reaffirmed the 'CARE AA+; Stable' rating for TVS Holdings' ₹750 crore NCDs and assigned the same rating to a new ₹200 crore NCD facility. The rating is backed by the company's 50.26% stake in TVS Motor Company, which was valued at approximately ₹88,699 crore as of February 2026. This provides a massive debt cover of 94x against the company's gross debt of ₹944 crore. Additionally, the company is expanding its financial services footprint following the 81.04% acquisition of Home Credit India Finance.
Key Highlights
CARE Ratings reaffirmed 'CARE AA+; Stable' for ₹750 crore NCDs and assigned it to new ₹200 crore NCDs.
Market value of 50.26% stake in TVS Motor Company stands at ~₹88,699 crore, offering 94x debt coverage.
Gross debt was ₹944 crore with a healthy gearing ratio of 0.62x as of December 31, 2025.
Completed acquisition of 81.04% stake in Home Credit India Finance (HCIF) on February 3, 2025.
Proposed issuance of 6% cumulative NCRPS worth ₹986.52 crore to shareholders pending NCLT approval.
💼 Action for Investors
Investors should take confidence in the high credit rating and the substantial valuation cover provided by the TVS Motor stake. The company's transition into a Core Investment Company with a focus on financial services through HCIF is a key long-term growth driver to monitor.
MPS Limited to Discuss Acquisition of Unbound Medicine Inc. in Upcoming Call
MPS Limited has scheduled a conference call for February 18, 2026, to provide details on the acquisition of Unbound Medicine, Inc., USA. The acquisition is being executed through its wholly-owned subsidiary, MPS North America LLC. Chairman and CEO Rahul Arora will lead the discussion to explain the strategic rationale and expected synergies. This move highlights the company's ongoing focus on inorganic growth and expansion within the North American market.
Key Highlights
Conference call scheduled for Wednesday, February 18, 2026, at 07:00 P.M. IST.
Acquisition of US-based Unbound Medicine, Inc. by wholly-owned subsidiary MPS North America LLC.
Chairman and CEO Rahul Arora and senior management to address institutional investors and analysts.
Universal dial-in numbers for the event are +91 22 6280 1410 and +91 22 7115 8311.
💼 Action for Investors
Investors should monitor the conference call for specific details regarding the acquisition cost, revenue multiples, and how this integration will impact the company's consolidated margins.
MPS Limited Completes Acquisition of Unbound Medicine, USA for USD 16.50 Million
MPS Limited, through its US subsidiary MPS North America LLC, has successfully completed the 100% acquisition of Unbound Medicine, Inc., USA. The transaction was finalized for a total consideration of USD 16.50 million following the satisfaction of customary closing conditions. As a result, Unbound Medicine has become a wholly-owned step-down subsidiary of MPS Limited effective February 9, 2026. This acquisition is part of the company's strategy to expand its footprint in the North American market and enhance its digital health and medical education offerings.
Key Highlights
Acquisition of 100% stake in Unbound Medicine, Inc., USA successfully completed
Total transaction value fixed at USD 16.50 million subject to customary adjustments
Unbound Medicine is now a wholly-owned step-down subsidiary of MPS Limited
Completion follows the Stock Purchase Agreement originally signed on January 30, 2026
Funding arrangements for the acquisition were previously disclosed on February 4, 2026
💼 Action for Investors
Investors should view this as a strategic growth move that strengthens MPS's international presence. Monitor upcoming quarterly results to assess the revenue contribution and margin impact of this new subsidiary.
All Time Plastics Highlights 39,000 MT Capacity and Bamboo Expansion in Investor Update
All Time Plastics (ATPL) reported an annual installed capacity of 39,000 tonnes with a 76.6% utilization rate for the nine months ending December 2025. The company is diversifying its portfolio by entering the engineered bamboo segment through a pilot facility in Guwahati and a strategic MoU with NECBDC. ATPL continues to leverage its 'China+1' advantage, exporting to 29 countries while maintaining energy-neutral operations. The presentation underscores a strong focus on high-volume, automated manufacturing and sustainable material usage.
Key Highlights
Total annual installed capacity reached 39,000 tonnes following a 2,000 MT expansion at the Khatalwada plant in December 2025.
Capacity utilization stood at 76.6% for 9MFY26, with 21,244 MT of polymers processed during the period.
The company operates 169 injection moulding machines, with 76% being energy-efficient all-electric models.
Strategic entry into the bamboo consumerware market via a pilot facility in Guwahati and a partnership with NECBDC.
Maintains 100% energy-neutral manufacturing facilities with over 25% of products made from recycled plastics in FY25.
💼 Action for Investors
Investors should monitor the ramp-up of the Khatalwada facility and the commercial viability of the new bamboo-based product line. The company's focus on recycled materials and energy neutrality positions it well for ESG-conscious global retail contracts.
All Time Plastics Q3 Revenue Up 7% YoY; Announces ₹10 Cr Investment in Bamboo Products
All Time Plastics reported a 7.1% YoY increase in consolidated revenue to ₹159.40 crore for Q3 FY26. Net profit for the quarter declined by 23.6% YoY to ₹9.17 crore, primarily due to a one-time exceptional item of ₹4.37 crore related to IPO expenses. A significant strategic update includes the commencement of commercial production for bamboo-based products, supported by a newly approved investment of ₹10 crore. Despite the YoY profit dip, the company showed strong sequential growth with PAT rising 124% compared to Q2 FY26.
Key Highlights
Revenue from operations increased to ₹159.40 crore in Q3 FY26 from ₹148.82 crore in Q3 FY25.
Net Profit (PAT) stood at ₹9.17 crore, impacted by a ₹4.37 crore exceptional listing-related expense.
Board approved a fresh investment of ₹10 crore for the expansion into bamboo-based product manufacturing.
Nine-month (9M FY26) revenue grew to ₹464.78 crore, up from ₹409.92 crore in the previous year.
Finance costs for 9M FY26 rose to ₹12.91 crore compared to ₹10.15 crore in 9M FY25.
💼 Action for Investors
Investors should look past the one-time IPO-related hit to profitability and focus on the company's diversification into sustainable bamboo products. Monitor the margin profile in upcoming quarters to see if the new bamboo segment can offset rising material and finance costs.
STL Tech to Raise Rs 498.30 Crore via Preferential Warrant Issue to Promoters
Sterlite Technologies (STL) has announced a preferential issue of 4.53 crore warrants to its promoter entity, Twin Star Overseas Limited, at a price of Rs 110 per warrant. The total fundraise is valued at Rs 498.30 crore, with 25% of the amount (Rs 124.57 crore) to be paid upfront and the remaining 75% upon conversion within 18 months. An Extra-Ordinary General Meeting (EGM) is scheduled for March 4, 2026, to seek shareholder approval for this issuance and necessary amendments to the Articles of Association. This capital infusion by the promoter group is typically viewed as a sign of confidence in the company's future growth and financial stability.
Key Highlights
Issuance of up to 4,53,00,000 warrants to promoter Twin Star Overseas Limited at Rs 110 each.
Total capital to be raised aggregates to Rs 498.30 crore.
Promoter will pay 25% (Rs 124.57 crore) as subscription price, with 75% (Rs 373.73 crore) due at exercise.
Warrants are convertible into equity shares within a maximum period of 18 months from allotment.
The issue price of Rs 110 represents a premium of Rs 108 over the face value of Rs 2 per share.
💼 Action for Investors
Investors should take this as a positive signal of promoter backing and improved liquidity. Monitor the EGM results on March 4 and subsequent updates on how the funds will be utilized for debt reduction or expansion.
RailTel Bags ₹454.95 Crore Project from West Central Railway
RailTel Corporation of India has secured a significant domestic contract from West Central Railway valued at approximately ₹454.95 crore. The project involves specialized railway works and is scheduled to be completed within 960 days. The final execution deadline is set for September 24, 2028. This substantial order win strengthens RailTel's order book and provides long-term revenue visibility for the company.
Key Highlights
Total order value is ₹4,54,94,74,871 (approx. ₹454.95 Crores)
Contract awarded by Dy. Cste/Project/Jbp, West Central Railway
Execution timeline of 960 days with completion by September 24, 2028
Domestic project with no promoter or related party interest involved
💼 Action for Investors
Investors should view this as a positive development that enhances RailTel's project pipeline. Maintain a positive outlook while monitoring the company's execution pace and operating margins on these large-scale railway projects.
STL Tech to Raise ₹498.3 Cr via Preferential Warrant Issue to Promoter at ₹110/Share
Sterlite Technologies (STL) has called an Extraordinary General Meeting on March 4, 2026, to approve a ₹498.30 crore fundraise through a preferential issue of warrants. The company plans to issue 4.53 crore convertible warrants to its promoter, Twin Star Overseas Limited, at a price of ₹110 per warrant. The promoter will pay 25% (₹124.57 crore) upfront, with the remaining 75% payable within 18 months upon conversion into equity. This capital infusion is accompanied by proposed amendments to the Articles of Association to facilitate more flexible future security issuances.
Key Highlights
Preferential issuance of 4,53,00,000 warrants to promoter Twin Star Overseas Limited.
Issue price fixed at ₹110 per warrant, aggregating to a total of ₹498.30 crore.
Immediate capital infusion of ₹124.57 crore representing the 25% upfront subscription amount.
Warrants are convertible into equity shares on a 1:1 basis within a maximum period of 18 months.
Proposed amendment to Articles of Association to allow issuance of securities for non-cash consideration and various instrument types.
💼 Action for Investors
The promoter's commitment to infuse nearly ₹500 crore at ₹110 per share indicates strong confidence in the company's valuation and future outlook. Investors should view this as a positive liquidity event that could be used for debt reduction or growth capital.
Emami Q3 FY26: 15% PAT Growth to INR 319 Cr; 9% Domestic Volume Growth and INR 6 Dividend
Emami Limited reported a strong Q3 FY26 with consolidated revenue growing 11% YoY to INR 1,152 crores, driven by a robust 9% domestic volume growth. Profit after tax increased by 15% to INR 319 crores, supported by gross margin expansion to 70.6% and EBITDA margin improvement to 33.4%. The company declared a second interim dividend of INR 6 per share, bringing the total 9-month dividend to INR 10. Management highlighted a recovery in rural demand and significant growth in digital channels, with quick commerce sales doubling during the quarter.
Key Highlights
Domestic business grew 11% with 9% volume growth, led by BoroPlus (+16%) and Kesh King (+10%)
EBITDA increased 13% to INR 384 crores, with margins expanding 110 bps to 33.4%
Strategic digital-first subsidiaries (The Man Company and Brillare) delivered robust 31% growth
Quick commerce sales doubled YoY, now contributing 20% to the total e-commerce business
Standalone income tax rate expected to reduce from 35% to 25% starting FY27 due to budget amendments
💼 Action for Investors
Investors should note the strong volume recovery and margin expansion as indicators of operational efficiency and improving rural demand. The healthy dividend payout and projected lower tax rates in FY27 provide strong fundamental support for the stock.
CARE Reaffirms Loyal Textile Mills' Credit Rating at 'BB+; Stable'; Total Debt Limits Reduced
CARE Ratings has reaffirmed the credit ratings for Loyal Textile Mills Limited, maintaining the Long-term/Short-term facilities at CARE BB+; Stable / CARE A4+. The total quantum of rated bank facilities has been reduced from approximately ₹387.55 crore to ₹321.17 crore. This rating action follows a review of the company's audited FY25 financials and provisional H1FY26 performance. The 'Stable' outlook indicates that the credit agency expects the company's financial profile to remain steady in the near term.
Key Highlights
CARE BB+; Stable / CARE A4+ rating reaffirmed for ₹80 crore Long/Short-term facilities (reduced from ₹96 crore)
CARE A4+ rating reaffirmed for ₹241.17 crore Short-term bank facilities (reduced from ₹291.55 crore)
Total rated bank exposure decreased by ₹66.38 crore to a total of ₹321.17 crore
Long-term bank facilities rating withdrawn as the specific facility amount was reduced to zero
Rating assessment based on audited FY25 and provisional H1FY26 operational and financial performance
💼 Action for Investors
The reaffirmation of the 'Stable' outlook suggests no immediate credit risk concerns; however, investors should monitor upcoming quarterly results to see if the reduction in debt limits is due to improved cash flows or reduced scale.
LG Balakrishnan & Bros Q3 Consolidated Net Profit Rises 17.5% YoY to Rs 88.45 Cr
LG Balakrishnan & Bros reported a strong Q3 FY26 with consolidated revenue growing 20.6% YoY to Rs 816.56 crore. Consolidated net profit increased by 17.5% YoY to Rs 88.45 crore, even after accounting for a one-time exceptional expense of Rs 11.62 crore related to the New Labour Codes. The core Transmission segment continues to drive growth, contributing over 76% of total revenue. Additionally, the board approved the re-appointment of Dr. Vinay Balaji Naidu as an Independent Director for a second five-year term.
Key Highlights
Consolidated revenue from operations increased to Rs 81,655.94 Lakhs in Q3 FY26 from Rs 67,689.61 Lakhs YoY.
Consolidated net profit for the quarter stood at Rs 8,845.06 Lakhs vs Rs 7,527.19 Lakhs in the previous year's quarter.
Recognized a one-time exceptional cost of Rs 1,161.61 Lakhs due to statutory impacts of New Labour Codes on employee benefits.
Transmission segment revenue grew 17.7% YoY to Rs 62,190.62 Lakhs.
Dr. Vinay Balaji Naidu re-appointed as Non-Executive Independent Director for a second term of 5 years effective August 2026.
💼 Action for Investors
The company shows robust operational performance with strong revenue growth across segments; investors should consider the profit growth as particularly healthy given the one-time labor code provision. Maintain a positive outlook while monitoring the impact of the new labor framework on future margins.
LG Balakrishnan Q3 Net Profit Rises 17% to ₹88.4 Cr; Revenue Up 21% YoY
LG Balakrishnan & Bros reported a strong performance for the quarter ended December 31, 2025, with consolidated revenue growing 20.6% YoY to ₹816.56 crore. Net profit for the quarter increased by 17.4% to ₹88.43 crore, despite a one-time exceptional hit of ₹11.62 crore related to new statutory labor codes. The Transmission segment remains the primary growth driver, contributing over 76% of total revenue. The board also recommended the re-appointment of Dr. Vinay Balaji Naidu as an Independent Director for a second five-year term.
Key Highlights
Consolidated Revenue from operations grew 20.6% YoY to ₹81,655.94 Lakhs in Q3 FY26.
Net Profit attributable to owners rose 17.4% YoY to ₹8,843.35 Lakhs for the quarter.
Transmission segment revenue increased significantly to ₹62,190.62 Lakhs from ₹52,842.99 Lakhs YoY.
Company recorded a one-time exceptional expense of ₹1,161.61 Lakhs due to new Labour Code provisions.
9M FY26 consolidated EPS stands at ₹78.08 compared to ₹68.38 in the previous year's 9M period.
💼 Action for Investors
Investors should view the consistent double-digit growth in both revenue and profit as a sign of operational strength. The one-time labor code impact is non-recurring, making the underlying profit growth even more robust than the reported figures suggest.
LG Balakrishnan & Bros Q3 Net Profit Rises 17.5% to ₹88.45 Cr; Revenue Up 20.6% YoY
LG Balakrishnan & Bros reported a strong performance for the quarter ended December 31, 2025, with consolidated revenue growing 20.6% YoY to ₹816.56 crore. Consolidated net profit increased by 17.5% to ₹88.45 crore, even after accounting for a one-time exceptional expense of ₹11.62 crore related to the implementation of new labor codes. The Transmission segment remains the primary revenue driver, contributing approximately 76% of total income. The company also recommended the re-appointment of Dr. Vinay Balaji Naidu as an Independent Director for a second five-year term.
Key Highlights
Consolidated revenue from operations grew 20.6% YoY to ₹81,655.94 Lakhs.
Consolidated Net Profit increased 17.5% YoY to ₹8,845.06 Lakhs from ₹7,527.19 Lakhs.
Transmission segment revenue rose 17.7% YoY to ₹62,190.62 Lakhs.
One-time exceptional cost of ₹1,161.61 Lakhs recognized for statutory impact of new Labour Codes.
9M FY26 consolidated profit reached ₹24,907.52 Lakhs compared to ₹21,806.38 Lakhs in 9M FY25.
💼 Action for Investors
The company demonstrates robust growth in its core transmission business and maintains healthy margins despite regulatory cost pressures. Investors should hold the stock while monitoring the long-term impact of labor code provisions on operating expenses.
Max Healthcare Reports 38% EBITDA CAGR; Market Cap Reaches ₹1.02 Lakh Crore
Max Healthcare Institute Limited (MAXHEALTH) released its latest investor presentation, highlighting its position as India's largest hospital chain by market capitalization at ₹1.02 lakh crore. The company demonstrated robust financial performance with a 4-year EBITDA CAGR of 38% and a revenue CAGR of 24%. Operational efficiency remains high with a 9M FY26 occupancy rate of approximately 76% and a Return on Capital Employed (ROCE) of 26%. The presentation outlines a massive expansion pipeline across Delhi NCR, Mumbai, Lucknow, and Pune to further scale its 5,200+ bed capacity.
Key Highlights
Market capitalization stands at ₹1.02 lakh crore ($11.3 billion) as of December 31, 2025.
Achieved a 38% EBITDA CAGR and 24% Revenue CAGR over the last 4 years.
Current capacity exceeds 5,200 beds across 20 facilities with 73% of beds located in metro cities.
Maintained strong operational metrics with ~76% occupancy and ~26% ROCE for 9M FY26.
Significant expansion pipeline includes a ~1,000-bed project in Gurugram and a ~450-bed hospital development in Pune.
💼 Action for Investors
Investors should note the company's industry-leading ROCE and consistent EBITDA growth as evidence of high operational efficiency. The aggressive expansion roadmap across high-demand metros provides a clear long-term growth runway for the stock.
India Shelter Q3 PAT Jumps 29% YoY to ₹124 Cr; Board Approves ₹1,000 Cr NCD Fundraise
India Shelter Finance reported a strong performance for Q3 FY26, with net profit rising 29% YoY to ₹123.9 crore. Total revenue from operations grew 28% YoY to ₹389.5 crore, driven by robust interest income and assignment gains. The company's asset quality remains stable with a Gross NPA of 1.54% and a healthy Liquidity Coverage Ratio of 133.08%. Furthermore, the board has approved a significant capital raise of up to ₹1,000 crore through NCDs to fuel future lending growth.
Key Highlights
Net Profit for Q3 FY26 increased by 29.2% YoY to ₹123.94 crore compared to ₹95.93 crore in Q3 FY25.
Total Revenue from operations rose 28% YoY to ₹389.50 crore, supported by a 29% growth in interest income.
Board approved a fresh fundraise of up to ₹1,000 crore through the issuance of Non-Convertible Debentures (NCDs).
Asset quality remains stable with Gross NPA at 1.54% and Net NPA at 1.16% as of December 31, 2025.
9-month FY26 PAT stands at ₹365 crore, representing a 35.6% increase over the same period last year.
💼 Action for Investors
The company continues to demonstrate strong growth and stable asset quality in the affordable housing segment. Investors should maintain a positive outlook as the ₹1,000 crore fundraise provides significant headroom for AUM expansion.
India Shelter Q3FY26: GMA Crosses ₹10,000 Cr Mark; PAT Grows 33% YoY to ₹128 Cr
India Shelter Finance reported a strong Q3FY26 with Gross Managed Assets (GMA) growing 31% YoY to ₹10,365 Cr. Adjusted Profit After Tax (PAT) rose 33% YoY to ₹128 Cr, driven by a 50bps YoY reduction in the cost of funds to 8.3%. While Gross Stage 3 assets saw a slight uptick to 1.5% from 1.2% YoY, the company maintained healthy return ratios with an adjusted RoA of 5.8% and RoE of 17.1%. The company continues its strategic expansion, reaching 301 branches across 15 states with a focus on the self-employed segment.
Key Highlights
Gross Managed Assets (GMA) grew 31% YoY to ₹10,365 Cr with Q3 disbursements at ₹977 Cr.
Adjusted PAT increased 33% YoY to ₹128 Cr; annualized RoA and RoE stood at 5.8% and 17.1% respectively.
Spreads expanded to 6.6% as Cost of Funds improved by 50bps YoY to 8.3%.
Asset quality showed Gross Stage 3 at 1.5% and Net Stage 3 at 1.2%, with 30+ DPD at 5.0%.
Network expanded to 301 branches; 76% of the portfolio consists of self-employed borrowers with an average ticket size of ₹10 Lakhs.
💼 Action for Investors
Investors should view the strong AUM growth and expanding spreads as positive indicators of market leadership in affordable housing. While asset quality requires monitoring due to the slight rise in GNPA, the high return ratios and robust liquidity buffer of ₹1,818 Cr support a positive long-term outlook.
India Shelter Q3FY26 PAT Rises 33% YoY to Rs 128 Cr; Assets Cross Rs 10,000 Cr Mark
India Shelter Finance reported a strong Q3FY26 with Gross Managed Assets (GMA) growing 31% YoY to reach Rs 10,365 crore. Adjusted Profit After Tax (PAT) increased by 33% YoY to Rs 128 crore, supported by a 20bps improvement in spreads to 6.6%. While profitability metrics like RoE (17.1%) and RoA (5.8%) showed improvement, asset quality witnessed a slight deterioration with Gross Stage 3 assets rising to 1.5% from 1.2% in the previous quarter. The company continues its expansion strategy, reaching 301 branches across 15 states.
Key Highlights
Gross Managed Assets grew 31% YoY to Rs 10,365 crore, crossing the 10k mark
Adjusted PAT increased 33% YoY to Rs 128 crore with a healthy RoE of 17.1%
Spreads improved by 20bps QoQ to 6.6%, driven by a 20bps reduction in cost of funds to 8.3%
Gross Stage 3 assets increased to 1.5% compared to 1.2% in Q2FY26 and Q3FY25
Branch network expanded to 301 locations with 35 new branches added in 9MFY26
💼 Action for Investors
Investors should focus on the robust AUM growth and improving margins, which indicate strong operational efficiency. However, the slight uptick in Gross Stage 3 assets to 1.5% warrants monitoring in subsequent quarters to ensure credit quality remains under control.