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Jyoti CNC Q3 Standalone Net Profit Surges 36% YoY to ₹105.16 Cr; Revenue Up 32%
Jyoti CNC Automation Limited reported a strong standalone performance for the quarter ended December 31, 2025. Revenue from operations grew 32.4% YoY to ₹529.77 Cr, while Net Profit increased by 36% YoY to ₹105.16 Cr. For the nine-month period, the company achieved a profit of ₹256.22 Cr, a significant jump from ₹188.15 Cr in the previous year. While the core business shows robust growth, the auditor highlighted the non-provision of impairment for loss-making subsidiaries, which management expects to turn around soon.
Key Highlights
Standalone Revenue from operations increased 32.4% YoY to ₹529.77 Cr in Q3 FY26.
Net Profit after tax rose 36% YoY to ₹105.16 Cr from ₹77.33 Cr in Q3 FY25.
9M FY26 Standalone Revenue reached ₹1,350.31 Cr compared to ₹1,085.93 Cr in 9M FY25.
Finance costs for the quarter increased significantly to ₹18.68 Cr from ₹4.17 Cr YoY.
Auditor noted non-provision of impairment for investments in subsidiaries despite erosion of net worth.
💼 Action for Investors
The standalone business demonstrates strong growth momentum and improving margins; however, investors should monitor the consolidated results and the recovery progress of the 'Huron' subsidiaries.
Jyoti CNC Q3 Standalone Net Profit Jumps 36% YoY to ₹105.16 Cr; Revenue Up 32%
Jyoti CNC Automation reported a strong performance for Q3 FY26, with standalone revenue growing 32.4% YoY to ₹529.77 crore. Standalone Net Profit increased by 36% YoY to ₹105.16 crore, driven by robust demand in the machine tool sector. For the nine-month period ended December 2025, the company achieved a profit of ₹256.22 crore, a 36.2% increase over the previous year. While operational growth is strong, finance costs saw a sharp spike to ₹18.68 crore from ₹4.17 crore YoY, and auditors noted the erosion of net worth in international subsidiaries.
Key Highlights
Standalone Revenue from operations rose 32.4% YoY to ₹529.77 crore in Q3 FY26.
Standalone Net Profit for the quarter stood at ₹105.16 crore vs ₹77.33 crore in Q3 FY25.
9M FY26 Revenue reached ₹1,350.31 crore, marking a 24.3% growth over 9M FY25.
Finance costs increased significantly to ₹18.68 crore in Q3 FY26 compared to ₹4.17 crore in the year-ago quarter.
Auditors highlighted non-provision of impairment for loss-making subsidiaries, though management expects a turnaround.
💼 Action for Investors
Investors should take note of the strong top-line and bottom-line growth, but remain cautious about the rising finance costs and the performance of overseas subsidiaries. The stock continues to benefit from the capital goods upcycle in India.
Ddev Plastiks Declares ₹0.50 Interim Dividend; Q3 Net Profit Rises to ₹48.04 Crore
Ddev Plastiks Industries has declared an interim dividend of ₹0.50 per share (50% of face value) for the financial year 2025-26. The company reported a steady performance for Q3 FY26, with revenue from operations growing to ₹732.84 crore from ₹660.75 crore in the previous year's corresponding quarter. Net profit for the quarter increased to ₹48.04 crore, while basic EPS rose to ₹4.64. The board also approved a remuneration hike of ₹50,000 per month for both the Chairman and the CEO effective April 2026.
Key Highlights
Declared an interim dividend of ₹0.50 per equity share (50% on face value of ₹1)
Revenue from operations increased 10.9% YoY to ₹732.84 crore in Q3 FY26
Net profit for Q3 FY26 stood at ₹48.04 crore compared to ₹46.60 crore in Q3 FY25
Record date for dividend entitlement is fixed as February 20, 2026
Approved monthly remuneration increment of ₹50,000 for Chairman and CEO effective April 1, 2026
💼 Action for Investors
Investors interested in the dividend should ensure they hold shares before the record date of February 20, 2026. The consistent growth in revenue and profit margins suggests stable business health.
Ddev Plastiks Declares Rs 0.50 Interim Dividend; Q3 Net Profit Rises to Rs 48.04 Cr
Ddev Plastiks Industries reported a steady performance for Q3 FY26, with revenue from operations growing 10.9% year-on-year to Rs 732.84 crore. The company declared an interim dividend of Rs 0.50 per share (50% of face value) with a record date of February 20, 2026. Net profit for the quarter stood at Rs 48.04 crore, up from Rs 46.60 crore in the same period last year. For the nine-month period ending December 2025, the company achieved a net profit of Rs 147.29 crore on a total income of Rs 2,203.85 crore.
Key Highlights
Revenue from operations increased by 10.9% YoY to Rs 732.84 crore in Q3 FY26.
Net profit for Q3 FY26 grew to Rs 48.04 crore compared to Rs 46.60 crore in Q3 FY25.
Declared an interim dividend of Rs 0.50 per equity share (50% of FV) with a record date of Feb 20, 2026.
9M FY26 total income reached Rs 2,203.85 crore, up from Rs 1,881.70 crore in the previous year.
Basic EPS for the quarter improved to Rs 4.64 from Rs 4.50 in the corresponding quarter last year.
💼 Action for Investors
Investors should note the steady growth in top-line and bottom-line figures and the consistent dividend payout. The stock remains a watch for those looking for stable performance in the polymer compounds segment.
Ddev Plastiks Q3 PAT Up 3% to ₹48 Cr; Announces ₹0.50 Interim Dividend
Ddev Plastiks Industries reported a 10.9% YoY increase in revenue from operations to ₹732.84 crore for the quarter ended December 31, 2025. Net profit for the quarter rose to ₹48.04 crore from ₹46.60 crore in the previous year. The company declared an interim dividend of ₹0.50 per share, representing a 50% payout on the face value of ₹1. For the nine-month period, the company maintained steady growth with a PAT of ₹147.29 crore compared to ₹133.77 crore in the prior year.
Key Highlights
Revenue from operations grew 10.9% YoY to ₹732.84 crore in Q3 FY26.
Net profit (PAT) increased to ₹48.04 crore from ₹46.60 crore in Q3 FY25.
Interim dividend of ₹0.50 per share declared with a record date of February 20, 2026.
9M FY26 total income reached ₹2,203.85 crore, up from ₹1,881.70 crore in 9M FY25.
Basic EPS for the quarter improved to ₹4.64 from ₹4.50 YoY.
💼 Action for Investors
The company shows consistent top-line and bottom-line growth along with regular dividends, making it a stable pick for mid-cap portfolios. Investors should track the record date of February 20 for dividend eligibility.
Shanti Gold Q3 FY26 PAT Surges 128% YoY to ₹40.08 Cr; Revenue More Than Doubles
Shanti Gold reported a stellar Q3 FY26 with revenue jumping 110% YoY to ₹636.93 crore, driven by strong festive demand and a 31% increase in volumes. Profitability saw a significant boost as PAT rose 128% YoY to ₹40.08 crore, supported by a favorable product mix and gold price environment. The company's 9-month performance is equally robust, with PAT growing over 200% to ₹108.64 crore. Additionally, the company is expanding its manufacturing capacity by 4,000 kg to meet rising demand from organized retailers.
Key Highlights
Revenue from operations grew 110.06% YoY to ₹636.93 crore in Q3 FY26
Net Profit (PAT) increased by 127.97% YoY to ₹40.08 crore
Volume growth recorded at 31% YoY and 25% QoQ, reflecting strong market traction
Announced a significant capacity expansion of approximately 4,000 kg to service organized retail
9M FY26 EBITDA margins improved significantly to 11.71% from 7.49% in the previous year
💼 Action for Investors
Investors should view the strong volume growth and margin expansion as positive indicators of the company's scaling capabilities in the organized jewellery sector. Monitor the execution of the 4,000 kg capacity expansion as it will be a key driver for future revenue growth.
Shanti Gold Q3 FY26: Revenue Jumps 98% YoY; Jaipur Expansion Underway
Shanti Gold International Limited reported a massive 98% year-on-year revenue surge for Q3 FY26, though net profit growth remained modest at 2%. For the nine-month period (9M FY26), revenue grew by 96% while profits increased by 4%, indicating significant top-line momentum but potential margin pressure. The company is actively expanding its manufacturing footprint with a new facility under construction in Jaipur and is targeting North Indian and export markets. Key financial health indicators include a Return on Equity (ROE) of 19.36% and a Return on Capital Employed (ROCE) of 17.97%.
Key Highlights
Q3 FY26 revenue grew by 98% YoY, while 9M FY26 revenue increased by 96% YoY
Net profit growth lagged behind revenue at 2% for Q3 FY26 and 4% for 9M FY26
Current manufacturing capacity is 2,700 kgs per annum across a 13,448 sq. ft. facility
New manufacturing facility in Jaipur is currently under construction to drive future growth
Maintained healthy financial ratios with ROE at 19.36% and ROCE at 17.97%
💼 Action for Investors
Investors should monitor the company's ability to translate high revenue growth into better bottom-line margins as the Jaipur facility comes online. The stock shows strong market demand, but operational efficiency will be key to long-term value creation.
Aarti Pharmalabs Q3 Standalone PAT Falls 40% YoY to ₹43.8 Cr; EBITDA Margin Stable at 24.2%
Aarti Pharmalabs reported a 9.7% YoY decline in standalone revenue to ₹425.3 crore for Q3-FY26, while PAT dropped 40.4% YoY to ₹43.8 crore, impacted by higher depreciation and finance costs. Despite the YoY decline, the company showed a strong sequential recovery with EBITDA rising 39% QoQ and margins remaining resilient at 24.22%. The CDMO segment is a key growth driver with 30-40% growth projected for FY26, although ₹49 crore in revenue was deferred this quarter due to goods in transit. Major capacity expansions in Xanthine (to 9,000 MTPA) and the Atali greenfield site are nearing completion, positioning the company for future scale.
Key Highlights
Standalone revenue for Q3-FY26 stood at ₹425.3 crore, down 9.7% YoY but up 1.9% QoQ.
EBITDA margins remained stable at 24.22% vs 24.42% YoY, despite pricing pressures in the API segment.
Xanthine capacity expansion from 5,000 MTPA to 9,000 MTPA is on track for completion by March 2026.
CDMO segment currently has 59 active projects with 21 customers, expecting 30-40% revenue growth in FY26.
Net Debt/Equity ratio remains low at 0.26x, supporting ongoing total capex plans of approximately ₹550 crore.
💼 Action for Investors
Investors should monitor the successful ramp-up of the Atali greenfield site and the commissioning of the Xanthine expansion in Q4-FY26. While YoY earnings are soft, the sequential recovery and strong CDMO pipeline suggest long-term growth potential.
Shanti Gold Q3 FY26 Net Profit Rises 11% QoQ to ₹3.38 Crore; Revenue up 12%
Shanti Gold International reported a steady growth in its financial performance for the quarter ended December 31, 2025. Revenue from operations increased by 11.9% sequentially to ₹202.01 crore compared to ₹180.41 crore in the previous quarter. Net profit for the quarter stood at ₹3.38 crore, reflecting a growth of 10.9% over the ₹3.05 crore reported in Q2 FY26. The company, which listed in August 2025, continues to maintain its growth trajectory in the gold ornament manufacturing and wholesaling segment.
Key Highlights
Revenue from operations grew 11.9% QoQ to ₹202.01 crore in Q3 FY26.
Net Profit increased to ₹3.38 crore from ₹3.05 crore in the preceding quarter.
Total income for the nine months ended December 2025 reached ₹502.38 crore.
Earnings Per Share (EPS) for the quarter stood at ₹0.56 on a face value of ₹10.
Total expenses for the quarter were ₹197.84 crore, with cost of materials being the primary driver.
💼 Action for Investors
Investors should monitor the company's ability to maintain margins amidst fluctuating gold prices and competitive pressures in the wholesale market. As a newly listed entity, consistent quarterly performance is a positive sign for long-term stability.
Shanti Gold Q3 FY26 Net Profit Rises 8.6% QoQ to ₹8.44 Crore; Revenue Up 9.2%
Shanti Gold International reported a steady performance for the quarter ended December 31, 2025, with revenue from operations reaching ₹113.67 crore, a 9.2% increase from the previous quarter. Net profit for the period stood at ₹8.44 crore, up from ₹7.77 crore in Q2 FY26. The company, which listed in August 2025, maintains a single-segment focus on gold ornament manufacturing and wholesaling. For the nine-month period, total income reached ₹312.26 crore with a cumulative net profit of ₹23.12 crore.
Key Highlights
Revenue from operations grew 9.2% QoQ to ₹113.67 crore in Q3 FY26
Net profit increased to ₹8.44 crore compared to ₹7.77 crore in the preceding quarter
Earnings Per Share (EPS) improved to ₹1.40 from ₹1.29 in Q2 FY26
Total income for the nine months ended December 2025 stood at ₹312.26 crore
Profit Before Tax (PBT) for the quarter was healthy at ₹11.31 crore
💼 Action for Investors
Investors should monitor the company's ability to sustain this growth momentum post-IPO and track gold price volatility which may impact margins. The steady quarter-on-quarter growth is a positive signal for this recent market entrant.
Aarti Industries Q3 FY26: PAT Surges 25% Q-o-Q to ₹133 Cr; Exports Hit Record 65% of Revenue
Aarti Industries reported a strong Q3 FY26 performance with revenue growing 11% Q-o-Q to ₹2,492 crore and PAT rising 25% to ₹133 crore. Export contribution reached a record 65% of total revenue, driven by the resumption of US volumes and growth in MMA and DCB products. The company is aggressively expanding MMA capacity to 360 KT by Q4FY26 and has revised its FY26 CAPEX guidance upward to ₹1,100 crore to capture high-return opportunities. Management expects structural tailwinds from the India-US trade deal and China's 'anti-involution' strategy which is curbing chemical dumping.
Key Highlights
Revenue increased 11% Q-o-Q to ₹2,492 crore, while EBITDA rose 11% to ₹323 crore.
PAT surged 25% Q-o-Q to ₹133 crore, despite a ₹15 crore exceptional provision for the new labour code.
MMA capacity is being scaled up from 290+ KT to 360 KT by the end of Q4FY26.
Exports reached an all-time high of 65% of total revenue in both percentage and absolute terms.
FY26 CAPEX guidance increased to ₹1,100 crore from ₹1,000 crore, with FY27 CAPEX expected to be significantly lower.
💼 Action for Investors
Investors should view the volume recovery in the US and the capacity expansions in MMA and DCB as positive growth catalysts. The company's pivot toward high-value advanced materials and the expected margin recovery from reduced Chinese competition make it a strong long-term pick in the specialty chemicals space.
Satin Finserv Mobilizes ₹260 Cr in 3 Months; NCD Limit Tripled to ₹600 Cr
Satin Finserv (SFL), a wholly-owned subsidiary of Satin Creditcare, has demonstrated strong fundraising momentum by mobilizing approximately ₹260 crores over the last three months. The company successfully issued ₹50 crores in NCDs and received shareholder approval to triple its NCD issuance limit from ₹200 crores to ₹600 crores. As of December 2025, SFL maintains a robust Capital Adequacy Ratio of 36.1% and an AUM of ₹728 crores. This strategic push aims to diversify the group's portfolio into MSME and sustainability financing, reducing overall concentration risk.
Key Highlights
Mobilized ~₹260 crores in the last 3 months, marking the company’s strongest fundraising performance.
Shareholder approval granted to increase NCD issuance limit from ₹200 crores to ₹600 crores.
Successful issuance of ₹50 crores in NCDs with a retail-friendly face value of ₹10,000.
Maintains a strong Capital Adequacy Ratio of 36.1% and an AUM of ₹728 crores as of December 2025.
SFL operates 121 branches across 14 states with a focus on MSME and green financing.
💼 Action for Investors
Investors should monitor the scaling of the MSME book as it provides a higher-margin diversification play for the parent company. The strong capital adequacy and successful fundraising indicate high lender confidence in the subsidiary's growth trajectory.
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.
Everest Industries Appoints Lakshmana Rao Challa as Head of Manufacturing & Supply Chain
Everest Industries has appointed Mr. Lakshmana Rao Challa as the Head of Manufacturing Operations & Supply Chain Management for its Fibre Cement Plants, effective February 9, 2026. Mr. Challa brings over 27 years of extensive experience in the building materials and automotive sectors, having held leadership positions at prominent firms like Saint-Gobain and DCM Shriram Group. His expertise spans greenfield setups, Lean Six Sigma, and operational excellence, which is expected to strengthen the company's production efficiency. This appointment is part of the company's strategy to bolster its senior management team and drive sustainable growth in its core business segments.
Key Highlights
Mr. Lakshmana Rao Challa appointed as Head of Manufacturing Operations & Supply Chain for Fibre Cement Plants effective February 9, 2026
Appointee brings over 27 years of experience in building materials and automotive industries
Previously served as a Founding and Executive Committee member and Head of Operations at Saint-Gobain India
Expertise includes managing greenfield and brownfield manufacturing setups and multi-plant operations
Educational background includes Mechanical Engineering and PGDBA in Operations Management with leadership training from XLRI
💼 Action for Investors
Investors should view this as a positive step towards improving operational efficiency and supply chain management in the core Fibre Cement segment. Monitor for improvements in manufacturing margins and operational excellence over the next few quarters.
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.
Aarti Pharmalabs Declares ₹1.5 Interim Dividend; Record Date Set for Feb 16, 2026
Aarti Pharmalabs Limited has announced an interim dividend of ₹1.5 per equity share for the financial year 2024-25, representing a 30% payout on the face value of ₹5. The decision was finalized during the Board of Directors meeting held on February 09, 2026. The company has designated February 16, 2026, as the record date to identify shareholders eligible for the payout. This move reflects the company's commitment to returning value to its shareholders through consistent payouts.
Key Highlights
Interim dividend of ₹1.5 per equity share declared for FY 2024-25
Dividend payout is 30% of the face value of ₹5 per share
Record date for dividend eligibility is fixed as February 16, 2026
Board meeting for the declaration took place on February 09, 2026
💼 Action for Investors
Investors interested in the dividend must ensure they hold the shares before the ex-dividend date, typically one working day prior to the February 16 record date. Long-term investors should view this as a positive sign of cash flow management.
Aarti Pharmalabs Q3 Net Profit at ₹47.96 Cr; Declares ₹1.50 Interim Dividend
Aarti Pharmalabs reported a consolidated net profit of ₹47.96 crore for the quarter ended December 31, 2025, a decline from ₹73.99 crore in the corresponding quarter of the previous year. Consolidated revenue from operations stood at ₹274.11 crore, which was impacted by ₹49.35 crore of revenue being deferred to Q4 due to goods being in transit. The company has declared an interim dividend of ₹1.50 per share (30% of face value). An exceptional item of ₹2.79 crore was recorded due to provisions for new labour codes.
Key Highlights
Consolidated Net Profit for Q3 FY26 stood at ₹47.96 crore, down 35% YoY from ₹73.99 crore.
Revenue from operations was ₹274.11 crore, with an additional ₹49.35 crore in-transit revenue deferred to Q4.
Declared an interim dividend of ₹1.50 per equity share with a record date of February 16, 2026.
Exceptional charge of ₹279.49 lakhs recognized for incremental provision under new labour codes.
Consolidated EPS for the quarter fell to ₹5.29 from ₹8.16 in the year-ago period.
💼 Action for Investors
Investors should monitor the Q4 results closely to see if the deferred revenue of ₹49.35 crore translates into a strong recovery in profitability. While the dividend provides some support, the year-on-year decline in earnings suggests a cautious approach until margins stabilize.
Aarti Pharmalabs Declares ₹1.5 Interim Dividend; Q3 Net Profit Rises to ₹47.96 Crore
Aarti Pharmalabs has declared an interim dividend of ₹1.5 per equity share (30% of face value) for FY 2025-26, with the record date set for February 16, 2026. For the quarter ended December 31, 2025, the company reported a consolidated net profit of ₹47.96 crore, a significant increase from ₹27.92 crore in the previous quarter. Although consolidated revenue dipped sequentially to ₹273.37 crore, the company noted that ₹49.35 crore in revenue was deferred to Q4 due to goods being in-transit. An exceptional provision of ₹2.79 crore was also made for new labour code compliance.
Key Highlights
Declared interim dividend of ₹1.5 per equity share (30% on face value of ₹5)
Consolidated Net Profit grew to ₹47.96 crore in Q3 FY26 from ₹27.92 crore in Q2 FY26
Revenue of ₹49.35 crore deferred to Q4 FY26 due to goods in-transit at quarter-end
Exceptional item of ₹2.79 crore provisioned for impact of new labour codes
Record date for dividend eligibility fixed as Monday, February 16, 2026
💼 Action for Investors
Investors should benefit from the dividend payout and the strong bottom-line growth. The deferred revenue from in-transit goods suggests a potentially robust Q4, supporting a positive outlook for the stock.
Credo Brands (MUFTI) Q3 FY26 PAT Drops 61.7% YoY to ₹7 Cr Amid Muted Demand
Credo Brands Marketing (MUFTI) reported a weak set of numbers for Q3 FY26, with revenue declining 6% YoY to ₹146.1 crore. Net profit saw a sharp contraction of 61.7% to ₹7 crore, primarily driven by a 770 bps drop in EBITDA margins to 22.9%. The company faced headwinds from soft consumer sentiment during the festive season and margin pressure due to GST-related price adjustments on products below ₹2,500. Management is pivoting towards a 'MUFTI 2.0' strategy focusing on premiumization and increased marketing spend, which is expected to weigh on near-term profitability.
Key Highlights
Revenue for Q3 FY26 fell to ₹146.1 crore from ₹155.5 crore in the previous year.
PAT declined significantly to ₹7.0 crore in Q3 FY26 compared to ₹18.3 crore in Q3 FY25.
Gross Margin contracted to 56.5% from 61.9% YoY due to passing on GST benefits to customers.
Total EBO count stood at 446 stores as of December 31, 2025, with 12 stores under the new retail identity.
Management plans to increase advertising and branding spend to 8-10% of revenues from the current 5.2%.
💼 Action for Investors
Investors should exercise caution as the company faces significant margin pressure and declining sales in a muted retail environment. The focus should be on whether the 'MUFTI 2.0' premiumization and increased digital marketing spend can successfully revive growth and justify the near-term earnings hit.
Credo Brands (MUFTI) Q3 FY26 PAT Drops 62% YoY to ₹7.0 Cr Amid Margin Pressure
Credo Brands (MUFTI) reported a weak set of numbers for Q3 FY26, with revenue declining 6% YoY to ₹146.1 crore and PAT falling sharply by 62% to ₹7.0 crore. The performance was impacted by a muted festive season and a contraction in EBITDA margins from 30.6% to 22.9%. The company is undergoing a 'MUFTI 2.0' transformation focused on premiumization, having opened 12 new-identity stores. Management expects near-term profitability to remain under pressure as they increase advertising spend to 8-10% of revenue to strengthen long-term brand equity.
Key Highlights
Q3 FY26 Revenue decreased 6% YoY to ₹146.1 crore; 9M FY26 Revenue down 8% to ₹429.7 crore.
PAT for Q3 FY26 slumped 62% YoY to ₹7.0 crore, with PAT margins narrowing to 4.8% from 11.8%.
Gross Profit margins fell to 56.5% in Q3 from 61.9% YoY, impacted by GST reforms and passing tax benefits to consumers.
Inventory days increased to 166 days as of December 2025, up from 133 days in March 2025.
D2C channel showed strength with own-website sales growing by approximately 87% during the first nine months of FY26.
💼 Action for Investors
Investors should exercise caution as the company faces significant margin compression and a slowdown in the apparel sector. While the 'MUFTI 2.0' premiumization strategy is a long-term positive, the planned increase in marketing spend will likely weigh on earnings in the coming quarters.