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Halder Venture Q3 Profit Doubles to ₹2.17 Cr; Acquires 52% Stake in Inqube for ₹30.16 Cr
Halder Venture reported a strong performance for Q3 FY26, with revenue from operations reaching ₹7,363.09 lakhs compared to ₹5,716.92 lakhs in the same quarter last year. The company's net profit more than doubled to ₹217.10 lakhs from ₹105.76 lakhs YoY. Additionally, the board approved a strategic acquisition of a 52% stake in Inqube Technologies for ₹30.16 crores to enter the Agri-ERP and carbon credit markets. However, investors should note an auditor's observation regarding a delayed dividend of ₹605.07 lakhs from a foreign subsidiary.
Key Highlights
Revenue from operations grew to ₹7,363.09 lakhs in Q3 FY26 from ₹5,716.92 lakhs in Q3 FY25.
Net profit for the quarter increased by 105% YoY to ₹217.10 lakhs.
Board approved 52% stake acquisition in Inqube Technologies for ₹30.16 crores to be completed within 24 months.
Capitalized ₹2,244.57 lakhs following the operationalization of packaging units at the Haldia facility.
Auditors highlighted a pending dividend receivable of ₹605.07 lakhs from a foreign subsidiary, though management claims it is not credit impaired.
💼 Action for Investors
Investors should view the strong earnings growth and tech-focused acquisition as positive long-term drivers. Monitor the recovery of the ₹6.05 crore dividend from the foreign subsidiary as highlighted by auditors to ensure no future impairments.
Vaishali Pharma Approves Rs 12.25 Cr Share Swap for Kesar Pharma Stake
Vaishali Pharma has approved the issuance of 61.23 lakh equity shares at Rs 20 each via a preferential allotment. This is a non-cash transaction involving a share swap to acquire 21.52 lakh shares of its associate company, Kesar Pharma Limited, at Rs 56.89 per share. The total value of the issuance is approximately Rs 12.25 Crores, resulting in Kesar Pharma holding a 4.48% stake in the company. Additionally, the board has cleared the unaudited financial results for the quarter and nine months ended December 31, 2025.
Key Highlights
Issuance of 61,23,000 equity shares at a price of Rs 20 per share
Total deal value of Rs 12.246 Crores via share swap for Kesar Pharma stake
Acquisition of 21,52,575 shares of Kesar Pharma Limited at Rs 56.89 per share
Post-allotment, Kesar Pharma Limited will own 4.48% of Vaishali Pharma
Board approved Q3 FY26 results and initiated a postal ballot for shareholder approval
💼 Action for Investors
Investors should evaluate the valuation of Kesar Pharma and the impact of the 4.48% equity dilution on earnings per share. Watch for the detailed Q3 financial performance to assess the company's growth trajectory.
Vaishali Pharma to Issue 61.23 Lakh Shares via Swap for Kesar Pharma Stake
Vaishali Pharma has approved a preferential allotment of 61.23 lakh equity shares at an issue price of ₹20 per share, totaling approximately ₹12.25 crores. This is a non-cash transaction executed via a share swap to subscribe to 21.53 lakh shares of its associate company, Kesar Pharma Limited, at ₹56.89 per share. Post-allotment, Kesar Pharma will hold a 4.48% stake in Vaishali Pharma. The board also approved the unaudited financial results for the quarter ended December 31, 2025.
Key Highlights
Preferential issue of 61,23,000 equity shares at ₹20 each (including ₹18 premium).
Total transaction value for the share swap is ₹12,24,60,000.
Acquisition of 21,52,575 shares of associate company Kesar Pharma Limited at ₹56.89 per share.
Post-issue, Kesar Pharma Limited will hold a 4.48% equity stake in Vaishali Pharma.
Board approved Q3 FY26 financial results and initiated a Postal Ballot for shareholder approval.
💼 Action for Investors
Investors should monitor the strategic benefits of increasing the stake in Kesar Pharma and review the Q3 financial results for operational performance. The share swap indicates a consolidation of interests with its associate company.
Vaishali Pharma to Issue Shares Worth ₹12.25 Cr via Swap for Kesar Pharma Stake
Vaishali Pharma's board has approved a preferential allotment of 61.23 lakh equity shares at ₹20 per share, totaling ₹12.25 crore. This is a non-cash transaction executed via a share swap to acquire 21.53 lakh shares of its associate company, Kesar Pharma Limited, at ₹56.89 per share. The board also cleared the unaudited financial results for the quarter ended December 31, 2025. This move will result in Kesar Pharma Limited holding a 4.48% stake in Vaishali Pharma post-allotment.
Key Highlights
Issuance of 61,23,000 equity shares at ₹20 per share aggregating to ₹12.246 Crores.
Transaction involves a share swap for 21,52,575 shares of associate company Kesar Pharma.
Kesar Pharma Limited to hold 4.48% post-issue equity in Vaishali Pharma.
Board approved Q3 and 9M FY26 financial results during the same meeting.
Relevant date for floor price determination set as February 13, 2026.
💼 Action for Investors
Investors should review the Q3 financial performance and assess the strategic value of increasing the stake in Kesar Pharma. Monitor the upcoming postal ballot results for shareholder approval of this preferential issue.
Simbhaoli Sugars Q3 Results: Accumulated Unprovided Interest Reaches ₹2,010 Crore Amid CIRP
Simbhaoli Sugars Limited reported its Q3 FY26 results under the supervision of an Interim Resolution Professional (IRP) due to ongoing insolvency proceedings. The auditors have issued a heavily qualified report, noting that the company failed to provide for interest expenses on bank borrowings amounting to ₹8,941.03 Lakhs for the quarter. Total accumulated unprovided interest has now reached a massive ₹2,01,022.71 Lakhs, significantly understating the company's reported losses and liabilities. Furthermore, the company has not conducted mandatory impairment testing for its ₹224 Crore investment in its power subsidiary.
Key Highlights
Unprovided interest on bank borrowings for Q3 FY26 stands at ₹8,941.03 Lakhs, understating net loss.
Total accumulated unprovided interest on bank debt reached ₹2,01,022.71 Lakhs (approx ₹2,010 Crore) as of Dec 2025.
Auditors flagged unprovided interest of ₹121.63 Crore on delayed sugarcane price payments to farmers.
No impairment assessment performed on subsidiary investments (₹224.26 Crore) or Property, Plant & Equipment.
Potential contravention of Section 197 regarding management remuneration totaling over ₹411 Lakhs without lender consent.
💼 Action for Investors
Investors should remain extremely cautious as the company is under insolvency (CIRP) and the financial statements do not reflect the true scale of debt. The stock remains highly speculative given the massive unprovided liabilities and ongoing legal proceedings at NCLAT.
Simbhaoli Sugars Q3 Results: Unprovided Interest Reaches ₹2,010 Crore Amid Insolvency
Simbhaoli Sugars is currently under the Corporate Insolvency Resolution Process (CIRP), with operations managed by an Interim Resolution Professional (IRP). The company reported its Q3 FY26 results with significant audit qualifications, most notably the non-provision of interest on bank borrowings amounting to ₹8,941.03 Lakhs for the quarter. Total accumulated unprovided interest has now reached ₹2,01,022.71 Lakhs, meaning the reported losses are significantly understated. Furthermore, the company has not assessed impairment for its assets or its ₹23,000+ Lakhs investment in subsidiaries.
Key Highlights
Unprovided interest on bank borrowings for the quarter ended Dec 2025 is ₹8,941.03 Lakhs.
Total accumulated interest expense not provided for in the accounts stands at ₹2,01,022.71 Lakhs.
Interest on delayed cane price payments to farmers amounting to ₹12,163.25 Lakhs remains unprovided.
Company failed to conduct mandatory impairment testing for subsidiary investments totaling ₹23,080.51 Lakhs.
Management powers remain suspended as the company undergoes CIRP following an NCLT order dated July 11, 2024.
💼 Action for Investors
Investors should be extremely wary as the company is in insolvency and the financial statements significantly understate liabilities due to missing interest provisions. The risk of total equity erosion is high given the massive debt and ongoing legal proceedings at NCLAT.
Simbhaoli Sugars Q3 Results: Auditor Flags ₹2,010 Crore Unprovided Interest Amid Insolvency
Simbhaoli Sugars reported its Q3 FY2025-26 results while remaining under the Corporate Insolvency Resolution Process (CIRP), currently stayed by NCLAT due to settlement talks. The auditors have issued a heavily qualified report, noting that the company failed to provide for interest expenses on bank borrowings amounting to ₹8,941.03 lakhs for the quarter. Total unprovided interest has now reached a massive ₹2,01,022.71 lakhs (approx ₹2,010 crore), significantly understating the company's losses and liabilities. Furthermore, the company has not conducted mandatory impairment testing for its ₹22,425.69 lakh investment in its power subsidiary.
Key Highlights
Total unprovided interest on bank borrowings reached ₹2,01,022.71 lakhs as of December 31, 2025.
Interest on bank borrowings for the quarter (₹8,941.03 lakhs) was not recognized in the financial statements.
Auditors flagged ₹12,163.25 lakhs in unprovided interest on delayed sugarcane payments to farmers.
No impairment assessment was performed for investments in subsidiaries totaling ₹22,425.69 lakhs.
Managerial remuneration of ₹301.82 lakhs from earlier years was noted as being in contravention of the Companies Act.
💼 Action for Investors
Investors should remain extremely cautious as the company is in a critical financial state with massive understated liabilities and ongoing insolvency proceedings. The stock remains highly speculative until there is clarity on the NCLAT settlement or the resolution process.
Kaushalya Infrastructure Board Approves Q3 FY26 Unaudited Financial Results
Kaushalya Infrastructure Development Corporation Limited has approved its unaudited standalone and consolidated financial results for the quarter ended December 31, 2025. The statutory auditors, KASG & Co., issued a limited review report with an unmodified conclusion, indicating no material misstatements were found. The consolidated results incorporate two subsidiaries and three associates, providing a broader view of the group's performance. However, the KIDCO NACC Consortium joint venture remains excluded from consolidation due to discontinued operations.
Key Highlights
Board approved unaudited financial results for the quarter and nine months ended December 31, 2025.
Statutory auditors KASG & Co. issued an unmodified limited review report for both standalone and consolidated statements.
Consolidated results include 2 subsidiaries (Bengal KDC Housing and KDC Nirman) and 3 associates.
Operations of the KIDCO NACC Consortium joint venture remain discontinued and were not consolidated.
The board meeting commenced at 02:00 P.M. and concluded at 04:15 P.M. on February 13, 2026.
💼 Action for Investors
Investors should review the detailed profit and loss tables once published to evaluate revenue and margin trends, as the current report only confirms regulatory compliance and auditor sign-off.
HAL Clarifies No Official Communication on Reported 114 Rafale Jet Deal
Hindustan Aeronautics Limited (HAL) has issued a formal clarification regarding a media report in the Times of India concerning a potential deal for 114 Rafale fighter jets. The report suggested that while 20 jets would be delivered in fly-away condition by 2030, the remaining 94 would be manufactured through a Dassault-HAL collaboration in India. HAL has explicitly stated that it has not received any official communication from the Ministry of Defence or Dassault Aviation regarding this specific procurement. This clarification aims to temper market speculation surrounding what the media termed the 'mother of all defence deals'.
Key Highlights
HAL denies receiving official communication regarding the procurement of 114 Rafale jets.
Media report claimed 20 jets would be imported and 94 manufactured via Dassault-HAL collaboration.
The reported timeline suggested additions to the Indian Air Force fleet by the year 2030.
HAL filed this clarification with BSE and NSE to address speculative news dated February 13, 2026.
💼 Action for Investors
Investors should rely on official Ministry of Defence notifications rather than speculative media reports for long-term order book projections. Maintain a watch on official government procurement portals for any formal Request for Proposal (RFP) regarding the MRFA (Multi-Role Fighter Aircraft) program.
Shalimar Paints Q3 FY26 Results: EBITDA Losses Halved and Working Capital Cycle Improves by 15 Days
Shalimar Paints reported significant operational improvements for the nine months ended December 31, 2025, despite flat topline growth. The company successfully reduced its EBITDA losses by 50% through enhanced operational efficiencies and a strategic shift toward high-margin products. New product launches were a key driver, contributing 5% to incremental business. Additionally, the company improved its liquidity position by reducing its working capital cycle by 15 days compared to the previous quarter.
Key Highlights
EBITDA losses reduced by 50% through operational efficiencies and better product mix.
Working capital cycle improved by 15 days compared to the previous quarter.
New products contributed 5% to the incremental business during the nine-month period.
Topline growth remained at par with the previous year despite industrial domain challenges.
Product mix shifted towards high-margin emulsions and value-added products.
💼 Action for Investors
Investors should view the halving of EBITDA losses and improved working capital as positive signs of a turnaround. Monitor the company's ability to translate these operational efficiencies into net profitability in the coming quarters.
Shalimar Paints Q3 FY26: EBITDA Losses Halved and Working Capital Cycle Improves by 15 Days
Shalimar Paints reported its results for the nine months ended December 31, 2025, highlighting a significant focus on operational efficiency. While topline growth remained flat compared to the previous year due to industrial segment challenges, the company successfully reduced its EBITDA losses by 50%. Operational improvements were driven by a shift toward high-margin emulsions and a 15-day reduction in the working capital cycle. Additionally, new product launches are gaining traction, contributing 5% to incremental business.
Key Highlights
EBITDA losses reduced by 50% through operational efficiencies and cost optimization.
Working capital cycle improved by 15 days compared to the previous quarter.
New product launches contributed 5% to the company's incremental business.
Product mix improved with a higher share of high-margin products and emulsions.
Topline growth remained at par with the previous year despite industrial domain headwinds.
💼 Action for Investors
Investors should watch for the company's ability to translate EBITDA loss reduction into net profitability. The improvement in working capital and product mix suggests a healthy turnaround strategy is in progress.
HAL Q3 Net Profit Rises 29% YoY to ₹1,867 Cr; Declares ₹25 Interim Dividend
Hindustan Aeronautics Limited (HAL) reported a strong performance for Q3 FY26, with consolidated net profit growing 29.6% YoY to ₹1,866.66 crore. Revenue from operations increased by 10.6% YoY to ₹7,698.80 crore compared to the same quarter last year. The Board has declared a substantial first interim dividend of ₹25 per equity share (500% of face value) for FY 2025-26. The record date for the dividend is set for February 18, 2026, with payment to be completed by March 14, 2026.
Key Highlights
Consolidated Net Profit increased 29.6% YoY to ₹1,866.66 crore in Q3 FY26.
Revenue from operations grew 10.6% YoY to ₹7,698.80 crore.
Declared first interim dividend of ₹25 per share on a face value of ₹5.
Consolidated EPS for the quarter rose to ₹27.91 from ₹21.53 in Q3 FY25.
Nine-month consolidated profit reached ₹4,919.48 crore, up 12% from ₹4,387.42 crore YoY.
💼 Action for Investors
The strong double-digit profit growth and high dividend payout underscore HAL's robust operational health and cash position. Investors should maintain a positive outlook given the company's execution consistency and the attractive interim yield.
HAL Declares Rs 35 Interim Dividend; Q3 Consolidated Net Profit Jumps 29.6% YoY to Rs 1,867 Cr
Hindustan Aeronautics Limited (HAL) has declared its first interim dividend of Rs 35 per share (700% of face value) for FY 2025-26, with a record date of February 18, 2026. The company reported a strong Q3 FY26 performance, with consolidated revenue from operations growing 10.7% YoY to Rs 7,699 crore. Consolidated net profit for the quarter rose significantly by 29.6% YoY to Rs 1,867 crore, up from Rs 1,440 crore in the previous year. The company's basic EPS improved to Rs 27.91 from Rs 21.53 YoY, reflecting robust operational growth.
Key Highlights
Declared first interim dividend of Rs 35 per equity share of Rs 5 each (700%)
Consolidated Net Profit increased by 29.6% YoY to Rs 1,86,666 lakhs for Q3 FY26
Consolidated Revenue from operations grew 10.7% YoY to Rs 7,69,880 lakhs
Consolidated EPS for the quarter rose to Rs 27.91 from Rs 21.53 in the previous year
Record date for dividend eligibility is February 18, 2026, with payment by March 14, 2026
💼 Action for Investors
Investors should ensure they hold shares by the record date of February 18 to qualify for the Rs 35 dividend. The strong double-digit growth in both revenue and profit confirms HAL's continued operational strength in the defense sector.
HAL Q3 Net Profit Jumps 29% YoY to ₹1,852 Cr; Declares ₹2 Interim Dividend
Hindustan Aeronautics Limited (HAL) reported a strong performance for Q3 FY26, with standalone revenue from operations growing 10.7% YoY to ₹7,699 crore. Net profit for the quarter saw a robust increase of 29.3% YoY, reaching ₹1,852 crore, driven by improved operational efficiencies and higher other income. The Board also declared a first interim dividend of ₹2 per share (40% of face value) for FY 2025-26, with the record date set for February 18, 2026. For the nine-month period ended December 2025, the company maintained steady growth with a standalone net profit of ₹4,891 crore.
Key Highlights
Standalone Net Profit rose 29.3% YoY to ₹1,85,172 Lakhs in Q3 FY26 compared to ₹1,43,260 Lakhs in Q3 FY25
Revenue from operations increased 10.7% YoY to ₹7,69,887 Lakhs from ₹6,95,693 Lakhs in the same quarter last year
Declared first interim dividend of ₹2 per equity share (40% on face value of ₹5) for FY 2025-26
Standalone Earnings Per Share (EPS) improved to ₹27.69 from ₹21.42 in the year-ago period
9M FY26 consolidated net profit stood at ₹4,91,948 Lakhs, reflecting consistent year-to-date growth
💼 Action for Investors
Investors should view the strong bottom-line growth and consistent dividend payout as a sign of operational strength and healthy execution. The stock remains a core long-term play in India's defense indigenization and aerospace manufacturing sector.
Shalby Q3 FY26 Results: Consolidated PAT Turns Positive at ₹13 Mn Despite Flat Revenue
Shalby Limited reported a mixed performance for Q3 FY26, with consolidated revenue remaining nearly flat at ₹2,794 million, a marginal 0.6% YoY decline. The company successfully turned around its consolidated bottom line, reporting a PAT of ₹13 million compared to a loss of ₹29.9 million in the year-ago period. However, operational metrics showed weakness, with inpatient counts down 7% and surgery counts down 8.5% YoY. Standalone EBITDA margins also faced significant pressure, contracting to 16.0% from 21.5% in Q3 FY25.
Key Highlights
Consolidated PAT improved to ₹13 million from a loss of ₹29.9 million in Q3 FY25.
Standalone EBITDA margins compressed by 550 bps YoY to 16.0% due to higher operating expenses.
Total surgery counts declined by 8.5% YoY to 6,833, while ARPOB saw a marginal increase of 1.1% to ₹43,171.
MedTech (Implant Business) contributed 10.88% to consolidated revenue, amounting to ₹303.8 million.
Consolidated net debt stood at ₹4,086 million as of December 2025 with an annualized ROCE of 6.7%.
💼 Action for Investors
Investors should exercise caution due to the decline in operational volumes and significant margin compression in the core standalone business. While the turnaround in consolidated PAT is positive, the high debt-to-equity ratio of 0.41x and low ROCE warrant a watchful approach.
Chalet Hotels Receives Rs 39.56 Cr Property Tax Notice for Bengaluru Hotel; Claims Technical Error
Chalet Hotels has received a notice from the Greater Bengaluru Authority regarding alleged unpaid property tax dues of approximately Rs 39.56 crore, including interest and penalties. The notice pertains to the company's hotel complex in Whitefield, Bengaluru, and includes a proclamation for the sale of the property. Management asserts that all taxes have been paid regularly and believes the notice stems from a technical glitch or system error. The company is seeking legal recourse and expects a favorable resolution, noting that current business operations remain unaffected.
Key Highlights
Notice issued by Greater Bengaluru Authority for alleged dues of ~Rs 39.56 crore including interest and penalties.
The dispute involves the company's significant hotel and commercial complex in Whitefield, Bengaluru.
Company maintains that all tax demands have been paid in a timely manner and suspects a technical glitch.
Chalet Hotels is initiating legal action to resolve the matter and expects no impact on operations.
The company became aware of the notice through a local newspaper article and subsequent website verification.
💼 Action for Investors
Investors should monitor for further updates regarding the legal stay of the notice or official clarification from the Bengaluru Authority. While the company claims this is a technical error, the threat of property sale makes this a key development to track.
Shalby Q3 PAT Drops 34% YoY to ₹138 Mn; Board Approves ₹59.6 Cr Investment in Subsidiary
Shalby Limited reported a weak financial performance for Q3 FY26, with standalone Net Profit declining 33.9% YoY to ₹137.91 million. Revenue from operations remained largely stagnant with a marginal 2.4% YoY decline to ₹2,152.36 million. The Board has approved a significant capital commitment of ₹59.60 crore to subscribe to a rights issue by its subsidiary, PK Healthcare Private Limited. Additionally, the company is streamlining its structure by closing its non-operational step-down subsidiary, Ningen Lifecare Private Limited.
Key Highlights
Standalone Net Profit fell 33.9% YoY to ₹137.91 million from ₹208.58 million in the previous year's quarter.
Revenue from operations decreased to ₹2,152.36 million compared to ₹2,206.40 million in Q3 FY25.
Profit Before Tax (PBT) saw a sharp decline of 38.8% YoY, dropping to ₹218.72 million.
Approved investment of ₹59.60 crore to acquire 5.96 crore shares in subsidiary PK Healthcare Private Limited.
Initiated strike-off process for step-down subsidiary Ningen Lifecare Private Limited due to lack of operations.
💼 Action for Investors
Investors should exercise caution as the company faces significant margin contraction and declining profitability. Monitor the performance of the subsidiary PK Healthcare to see if the ₹59.6 crore investment yields better consolidated returns.
Haleos Labs Q3 FY26 Consolidated Net Profit Rises 37% YoY to ₹6.65 Cr; Revenue Up 12%
Haleos Labs Limited (formerly SMS Lifesciences) reported a strong consolidated performance for Q3 FY26, with revenue growing 12% YoY to ₹94.78 crore. Consolidated net profit surged 37% YoY to ₹6.65 crore, driven by improved operational efficiencies and lower finance costs. The board also approved a corporate guarantee for its subsidiary, Mahi Drugs, to facilitate External Commercial Borrowing (ECB), indicating potential expansion plans. While standalone revenue saw a slight dip, the consolidated numbers reflect robust growth from subsidiary operations.
Key Highlights
Consolidated Revenue from Operations increased 12% YoY to ₹94.78 crore from ₹84.60 crore.
Consolidated Net Profit grew 37% YoY to ₹6.65 crore compared to ₹4.85 crore in Q3 FY25.
Consolidated EPS rose to ₹21.89 for the quarter, up from ₹18.08 in the corresponding previous year quarter.
Finance costs on a consolidated basis decreased to ₹1.54 crore from ₹2.14 crore YoY.
Board approved a corporate guarantee for subsidiary Mahi Drugs for External Commercial Borrowing, subject to shareholder approval.
💼 Action for Investors
Investors should view the strong consolidated profit growth and debt reduction in finance costs as positive indicators. Monitor the upcoming postal ballot regarding the corporate guarantee for Mahi Drugs as it signals future capital expenditure or expansion.
Chalet Hotels Q3 FY26: Revenue Up 27% to ₹5.9B, EBITDA Margins Expand to 46.3%
Chalet Hotels reported a robust Q3 FY26 with consolidated revenue growing 27% YoY to ₹5,892 million and EBITDA rising 29% to ₹2,726 million. The hospitality segment achieved a 12% RevPAR growth, primarily driven by a 16% increase in Average Daily Rates (ADR), despite a slight dip in occupancy due to new inventory stabilization. The Commercial Real Estate (CRE) business remains a strong contributor with 83% occupancy and high EBITDA margins of 83.5%. Management provided positive updates on the Hyatt Regency Airoli project clearance and the rebranding of the Vashi property to the Athiva brand.
Key Highlights
Consolidated Revenue grew 27% YoY to ₹5,892 million with EBITDA margins expanding 76 bps to 46.3%.
Hospitality RevPAR increased by 12% driven by a strong 16% growth in Average Daily Rates (ADR).
Commercial Real Estate revenue rose 29% YoY to ₹744 million with an exit rental run rate target of ₹280-300 million for FY27.
Received environmental clearance for the Hyatt Regency Airoli project; construction expected to take 36 months.
Rebranding of Vashi hotel to the 'Athiva' brand is scheduled for Q4 FY26.
💼 Action for Investors
Investors should focus on the company's strong pricing power and margin expansion despite temporary occupancy pressures from new inventory. The stock remains a solid play on the premium hospitality cycle and the ramp-up of high-margin commercial assets.
Simbhaoli Sugars Shuts Brijnathpur Distillery on CPCB Orders; Unit Contributes 4.94% Revenue
Simbhaoli Sugars has ceased operations at its Brijnathpur Distillery unit effective February 9, 2026, following directives from the Central Pollution Control Board (CPCB) under the Environment (Protection) Act, 1986. The unit contributed Rs 48.26 crore to the company's total net turnover of Rs 976.74 crore in the last financial year, representing approximately 4.94% of total revenue. The company completed a 72-hour process to finish in-process materials before the final shutdown. While management is working on compliance to restore operations, the duration of the closure remains uncertain until CPCB issues a revocation order.
Key Highlights
Closure of Brijnathpur Distillery effective February 9, 2026, due to CPCB environmental directives.
The affected unit contributes Rs 48.26 crore, or 4.94%, to the total group turnover of Rs 976.74 crore.
Shutdown followed a 72-hour window to process existing molasses and fermented wash into alcohol.
Operations will remain suspended indefinitely until specific revocation directions are received from the CPCB.
💼 Action for Investors
Investors should exercise caution as the closure impacts nearly 5% of the company's revenue and indicates regulatory hurdles in its distillery segment. Monitor for updates regarding CPCB compliance and the timeline for the resumption of operations.