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Par Drugs Q3 Net Profit Surges 730% YoY to ₹4.80 Cr; Revenue up 37%
Par Drugs and Chemicals reported a robust performance for Q3 FY26, with revenue from operations growing 37.2% year-on-year to ₹29.34 crore. The company's net profit witnessed a massive surge of approximately 730% YoY, rising from ₹0.58 crore to ₹4.80 crore, driven by strong operational performance. On a sequential basis (QoQ), revenue grew by 2.4% while net profit increased by 16.2%. The company continues to operate as a pure-play API manufacturer with a significantly improved EPS of ₹3.90 for the quarter.
Key Highlights
Revenue from operations increased 37.2% YoY to ₹2,933.95 Lakhs from ₹2,138.11 Lakhs.
Net Profit skyrocketed to ₹479.72 Lakhs compared to ₹57.80 Lakhs in the same quarter last year.
Earnings Per Share (EPS) improved significantly to ₹3.90 from ₹0.47 in the year-ago period.
Profit Before Tax (PBT) for the nine-month period ended Dec 2025 reached ₹1,647.00 Lakhs.
Finance costs remained exceptionally low at ₹1.48 Lakhs for the quarter, indicating a strong balance sheet.
💼 Action for Investors
The company has demonstrated exceptional bottom-line growth and margin expansion, making it a strong candidate for growth-oriented portfolios. Investors should monitor the sustainability of these margins in the upcoming quarters to ensure the growth isn't cyclical.
Par Drugs Q3 PAT Surges 730% YoY to ₹4.80 Cr; Revenue Up 37%
Par Drugs and Chemicals reported an exceptionally strong performance for the quarter ended December 31, 2025, with Net Profit jumping over 7-fold to ₹479.72 Lakh from ₹57.80 Lakh in the previous year. Revenue from operations grew by 37.2% YoY to ₹2,933.95 Lakh, indicating robust demand and improved operational efficiency. The company's profitability margins saw a massive expansion, with Profit Before Tax (PBT) rising from ₹77.24 Lakh to ₹644.20 Lakh YoY. Sequentially, the company also showed steady growth in both top-line and bottom-line compared to the September 2025 quarter.
Key Highlights
Net Profit (PAT) skyrocketed by 730% YoY to ₹479.72 Lakh from ₹57.80 Lakh.
Revenue from operations increased 37.2% YoY to ₹2,933.95 Lakh compared to ₹2,138.11 Lakh.
Earnings Per Share (EPS) improved significantly to ₹3.90 from ₹0.47 in the year-ago period.
Profit Before Tax (PBT) stood at ₹644.20 Lakh, an 8.3x increase over the previous year's ₹77.24 Lakh.
Nine-month (9M FY26) PAT reached ₹1,225.49 Lakh, nearing the total FY25 full-year profit of ₹1,335.79 Lakh.
💼 Action for Investors
The stock is expected to react very positively to this massive turnaround in profitability and strong revenue growth. Investors should hold the stock while monitoring if these high margins are sustainable in future quarters.
Par Drugs Q3 Net Profit Surges 730% YoY to ₹4.80 Crore; Revenue Up 37%
Par Drugs and Chemicals reported a robust performance for the quarter ended December 31, 2025, with revenue from operations growing 37.2% year-on-year to ₹29.34 crore. The net profit witnessed a massive jump of approximately 730%, rising from ₹0.58 crore in the previous year's quarter to ₹4.80 crore. On a sequential basis, revenue increased from ₹28.66 crore in Q2 FY26, and PAT rose from ₹4.13 crore. The nine-month performance also shows steady growth with a total PAT of ₹12.25 crore.
Key Highlights
Revenue from operations increased 37.2% YoY to ₹2,933.95 Lakhs in Q3 FY26.
Net Profit (PAT) skyrocketed to ₹479.72 Lakhs from ₹57.80 Lakhs in the same quarter last year.
Quarterly Earnings Per Share (EPS) improved significantly to ₹3.90 from ₹0.47 YoY.
Nine-month (9M) PAT stood at ₹1,225.49 Lakhs, showing a 4.7% growth over the previous year's 9M period.
Finance costs remained extremely low at ₹1.48 Lakhs for the quarter, indicating a debt-light balance sheet.
💼 Action for Investors
The significant YoY profit surge and sequential growth indicate strong operational momentum and margin expansion. Investors should monitor if this high-margin performance is sustainable or driven by specific product cycles in the API segment.
Uniparts India Q3 FY26 PAT Surges 74% YoY to ₹333 Mn; EBITDA Margins Expand to 21.5%
Uniparts India reported a robust Q3 FY26 with consolidated revenue growing 34.2% YoY to INR 2,867 million. Profit After Tax (PAT) increased significantly by 74.1% YoY to INR 333 million, even after accounting for a one-time exceptional labor code impact of INR 34.19 million. The company's EBITDA margin saw a healthy expansion to 21.5% compared to 17.4% in the same quarter last year. Management highlighted that warehouse-led sales, which offer higher agility and value, now constitute over 50% of 9M FY26 revenues.
Key Highlights
Q3 FY26 Revenue increased 34.2% YoY to INR 2,867 Mn, showing momentum despite seasonal weakness.
EBITDA grew 65.5% YoY to INR 617 Mn, with margins improving from 17.4% to 21.5%.
9M FY26 PAT reached INR 1,072 Mn, a 64.4% growth compared to the previous year.
Warehouse-led sales crossed the 50% mark of total revenue in the first nine months of FY26.
The company reported a recovery in Small Agriculture and stabilization in the Construction Equipment segment.
💼 Action for Investors
The strong margin expansion and revenue growth indicate a cyclical turnaround in the global OHV market. Investors should maintain a positive outlook as the company benefits from its dual-shore manufacturing model and increasing high-value warehouse-led sales.
Uniparts India Declares Rs 7 Per Share Second Interim Dividend; Sets Feb 16 as Record Date
Uniparts India Limited has declared a second interim dividend of Rs 7 per equity share for the financial year 2025-26. The company has fixed February 16, 2026, as the record date to determine shareholder eligibility for this payout. This dividend represents 70% of the face value of Rs 10 per share. The payment will be processed and dispatched to eligible shareholders within 30 days from the date of declaration.
Key Highlights
Second interim dividend of Rs 7 per equity share declared for FY 2025-26
Record date for dividend entitlement fixed as February 16, 2026
Dividend payout represents 70% of the face value of Rs 10 per share
Payment to be completed within 30 days from the declaration date of February 9, 2026
💼 Action for Investors
Investors seeking dividend income should ensure they hold the stock before the ex-dividend date to be eligible for the Rs 7 per share payout. The declaration reflects a healthy cash flow and a commitment to returning value to shareholders.
Uniparts India Declares Second Interim Dividend of Rs. 7 Per Share for FY 2025-26
Uniparts India Limited has announced a second interim dividend of Rs. 7 per equity share for the financial year 2025-26. The dividend is declared on a face value of Rs. 10 per share. The company has fixed February 16, 2026, as the record date to determine shareholder eligibility. This payout follows the board meeting held on February 09, 2026, and will be distributed within 30 days.
Key Highlights
Second interim dividend of Rs. 7 per equity share declared for FY 2025-26
Dividend is based on a face value of Rs. 10 per equity share
Record date for determining eligible shareholders is February 16, 2026
Payment to be completed within 30 days from the declaration date of February 09, 2026
💼 Action for Investors
Investors seeking dividend income should ensure they hold the shares before the record date of February 16, 2026. Monitor the stock's dividend yield relative to its current market price for long-term value assessment.
Uniparts India Q3 Net Profit Surges to ₹469M; Declares ₹7 Interim Dividend
Uniparts India reported a robust performance for Q3 FY26, with standalone revenue from operations growing 43% YoY to ₹1,836.85 million. Net profit witnessed a massive jump to ₹469.27 million from ₹77.07 million in the corresponding quarter of the previous year. The company rewarded shareholders by declaring a second interim dividend of ₹7.00 per share. While the company faced an exceptional charge of ₹28.05 million due to new Labour Code provisions and a fire incident at its Ludhiana plant, the overall financial trajectory remains strongly positive.
Key Highlights
Standalone Net Profit for Q3 FY26 rose to ₹469.27 million, a significant increase from ₹77.07 million YoY.
Revenue from operations grew to ₹1,836.85 million compared to ₹1,281.74 million in Q3 FY25.
Declared a second interim dividend of ₹7.00 per equity share (70%) with a record date of February 16, 2026.
EPS for the quarter improved substantially to ₹10.40 from ₹1.71 in the previous year's quarter.
Recognized an exceptional expense of ₹28.05 million related to gratuity and leave liabilities under new Labour Codes.
💼 Action for Investors
Investors should take note of the strong earnings growth and healthy dividend yield. The stock remains attractive given the sharp recovery in margins and robust revenue growth, though one should monitor the insurance settlement for the Ludhiana plant fire.
SPARC EGM Approves Preferential Warrant Issue to Promoters and New ESOP Scheme 2026
Sun Pharma Advanced Research Company (SPARC) held an Extraordinary General Meeting on February 9, 2026, to seek approval for three key special resolutions. The primary agenda included the issuance of convertible warrants on a preferential basis to members of the Promoter Group, signaling strong internal backing. Additionally, the company sought approval for the 'SPARC Employees Stock Option Scheme 2026' to be implemented for employees of the company and its subsidiaries/associates. These moves are aimed at securing long-term capital for R&D and retaining key talent in a competitive clinical research environment.
Key Highlights
Proposed issuance of convertible warrants on a preferential basis to the Promoter Group to raise capital.
Introduction of the 'SPARC Employees Stock Option Scheme 2026' for employee incentivization.
Extension of ESOP benefits to employees of subsidiary, holding, and associate companies.
Remote e-voting concluded on February 8, 2026, with final results expected within two working days.
The meeting was chaired by Mr. Dilip Shanghvi and conducted via video conferencing.
💼 Action for Investors
Investors should view the promoter participation in the warrant issue as a sign of confidence in the company's long-term R&D pipeline. Monitor the upcoming disclosure of voting results and the specific pricing details of the warrants to assess potential equity dilution.
SPARC Q3 Net Loss Widens to ₹80.57 Cr; Receives USFDA Priority Review Voucher for Sezaby
SPARC reported a consolidated net loss of ₹80.57 crore for the quarter ended December 31, 2025, as revenue from operations declined 43% YoY to ₹8.45 crore. The results were further impacted by a one-time exceptional charge of ₹12.36 crore due to the implementation of New Labour Codes. A major positive development is the USFDA's grant of a Rare Pediatric Disease Priority Review Voucher (PRV) for Sezaby® in February 2026, which is a highly valuable tradable asset. The company remains reliant on promoter support to maintain its 'Going Concern' status amid continued cash losses.
Key Highlights
Revenue from operations fell to ₹8.45 crore in Q3 FY26 from ₹14.91 crore in Q3 FY25.
Net loss widened to ₹80.57 crore for the quarter, including a ₹12.36 crore exceptional item for labor code adjustments.
USFDA granted a tradable Rare Pediatric Disease Priority Review Voucher (PRV) for Sezaby® on February 03, 2026.
Finance costs surged to ₹6.78 crore (standalone) from ₹2.77 crore in the corresponding quarter last year.
Company maintains 'Going Concern' status based on a financial support letter from its promoter group entity.
💼 Action for Investors
Investors should closely track the potential monetization or sale of the Priority Review Voucher (PRV), which could provide a significant non-dilutive cash infusion. While the operational losses are concerning, the PRV and promoter backing provide a temporary safety net for this R&D-focused entity.
SPARC Q3 Net Loss Widens to ₹80.57 Cr; Receives Valuable USFDA Priority Review Voucher
SPARC reported a sharp decline in revenue to ₹8.45 crore for Q3 FY26, down from ₹14.91 crore in the previous year. The standalone net loss widened to ₹80.57 crore, further impacted by a one-time exceptional charge of ₹12.36 crore related to new labor code compliance. A major positive development is the USFDA's grant of a tradeable Priority Review Voucher (PRV) for Sezaby®, which represents a significant potential cash inflow if sold. The company remains a 'going concern' primarily due to continued financial support from its promoter group.
Key Highlights
Revenue from operations dropped 43% YoY to ₹845 Lakhs in Q3 FY26.
Standalone net loss widened to ₹8,057 Lakhs from ₹7,971 Lakhs in the same quarter last year.
Recognized an exceptional cost of ₹1,236 Lakhs due to the implementation of New Labour Codes.
USFDA granted a Rare Pediatric Disease Priority Review Voucher (PRV) for Sezaby® on February 3, 2026.
Company continues to incur cash losses but maintains 'Going Concern' status via promoter support.
💼 Action for Investors
Investors should monitor the potential sale or monetization of the newly granted PRV, which could significantly improve the balance sheet. However, the core R&D business remains high-risk and loss-making, requiring a long-term perspective and high risk appetite.
PARKHOTELS Q3 Revenue Hits Record ₹200 Cr; PAT Drops 25% Amid Expansion Costs
Apeejay Surrendra Park Hotels reported its best-ever Q3 revenue of ₹200 crore, marking a 13% YoY growth driven by strong demand and an 11% increase in Average Room Rates (ARR) to ₹9,310. While operating EBITDA grew by 10% to ₹71 crore, PAT declined by 25% to ₹24 crore, impacted by higher finance and depreciation costs following recent acquisitions. The company maintains industry-leading occupancy at 90% and is launching a major serviced residence project in Kolkata expected to generate ₹300-350 crore in cash flow over the next three years. The retail brand Flurys continues to scale rapidly, recording 19% growth in Q3.
Key Highlights
Consolidated revenue for Q3 FY26 crossed ₹200 crore for the first time, a 13% YoY increase.
Average Room Rate (ARR) grew 11% YoY to ₹9,310, while RevPAR increased 9% to ₹8,347.
Acquisition of Malabar House and Purity completed in December 2025 for a total cost of ₹64 crore.
Retail brand Flurys recorded 19% revenue growth and achieved a record single-day sale of ₹1 crore on December 24th.
Net Debt remains low with a Debt/Equity ratio of 0.11 and total Net Debt of ₹154.65 crore.
💼 Action for Investors
Investors should focus on the company's ability to translate strong topline growth and high occupancy into bottom-line recovery as expansion costs stabilize. The upcoming monetization of the Kolkata serviced residences and the aggressive scaling of the Flurys brand are significant value-unlocking catalysts to monitor.
Parag Milk Foods Q3 FY26: Revenue Hits Record ₹1,013 Cr; New-Age Biz Crosses ₹100 Cr Mark
Parag Milk Foods reported its highest-ever quarterly revenue of ₹1,013 crore, marking a 14% YoY growth driven by strong performance in core categories and a 123% surge in its new-age business. While volumes grew by 8%, EBITDA margins contracted to 7.6% from 9.0% due to a 20% YoY spike in milk procurement prices. The New Age segment, comprising Avvatar and Pride of Cows, now contributes 9% to total revenue, crossing the ₹100 crore quarterly milestone for the first time. Despite inflationary pressures, the company maintained sequential gross margins through calibrated pricing and an improved product mix.
Key Highlights
Highest ever quarterly revenue of ₹1,013 Cr, up 14% YoY with 8% volume growth.
New-age business (Avvatar & Pride of Cows) revenue surged 123% YoY to ₹102 Cr in Q3.
Core categories (Ghee, Cheese, Paneer) grew 21% in value and 12% in volume, contributing 64% of revenue.
EBITDA margin contracted to 7.6% (vs 9.0% YoY) primarily due to 20% YoY milk price inflation.
Maintains dominant market position with 22% share in branded cow ghee and 35% share in cheese.
💼 Action for Investors
Investors should focus on the rapid scaling of the high-margin New Age business and the company's ability to maintain sequential margins despite milk price volatility. The stock remains a strong play on dairy premiumization, though short-term margin pressure from raw material inflation warrants a watch.
Parag Milk Foods Q3 FY26: Revenue Hits Record ₹1,013 Cr; New Age Business Surges 123%
Parag Milk Foods achieved its highest-ever quarterly revenue of ₹1,013 crore in Q3 FY26, a 14% YoY increase supported by 8% volume growth. The company's 'New Age' segment, including Avvatar and Pride of Cows, crossed the ₹100 crore quarterly milestone for the first time, growing 123% YoY. However, EBITDA margins faced pressure, declining to 7.6% from 9.0% a year ago, primarily due to a 20% YoY spike in milk procurement prices. Despite this, the company maintained market leadership in core categories like Ghee (22% share) and Cheese (35% share).
Key Highlights
Highest ever quarterly revenue of ₹1,013 Cr, up 14% YoY with 8% volume growth.
New Age business revenue grew 123% YoY to ₹102 Cr, increasing its revenue contribution to 9%.
Core categories (Ghee, Cheese, Paneer) saw 21% value growth and 12% volume growth.
EBITDA margin contracted to 7.6% from 9.0% YoY due to 20% inflation in milk prices reaching ₹40/litre.
9M FY26 PAT (before exceptional items) rose 17% YoY to ₹109 Cr.
💼 Action for Investors
The rapid scaling of high-margin 'New Age' brands is a significant long-term positive that helps offset raw material volatility. Investors should monitor if milk prices stabilize, which could lead to a strong margin recovery given the robust top-line momentum.
Parag Milk Foods Q3 FY26: Revenue Crosses INR 1,000 Cr Mark, Up 14% YoY; PAT Down 18%
Parag Milk Foods reported its highest-ever quarterly revenue of INR 1,013 crore, representing a 14% YoY growth driven by strong performance in core categories and a 123% surge in its New Age Business. However, profitability was pressured by a 20% YoY increase in raw milk prices, leading to a 140 bps contraction in EBITDA margins to 7.6%. While reported PAT fell 18% to INR 30 crore, the adjusted PAT (before exceptional items) remained relatively stable at INR 35 crore. The company successfully maintained sequential gross margins at 25.9% despite rising input costs through pricing strategies and a better product mix.
Key Highlights
Achieved highest-ever quarterly revenue of INR 1,013 Cr, a 14% YoY increase with 8% volume growth.
New Age Business (Avvatar and Pride of Cows) recorded 123% YoY growth, crossing INR 100 Cr in quarterly revenue for the first time.
Core categories including Ghee, Cheese, and Paneer witnessed 12% volume growth and 21% value growth YoY.
EBITDA margins contracted to 7.6% from 9.0% YoY due to raw milk prices rising 20% YoY to INR 40/litre.
9M FY26 PAT grew 11% YoY to INR 103 Cr, while adjusted PAT for the same period grew 17% YoY to INR 109 Cr.
💼 Action for Investors
Investors should monitor the company's ability to sustain volume growth in core categories while navigating high milk price inflation. The rapid scaling of the high-margin 'Avvatar' brand is a positive long-term driver, but near-term margin pressure from commodity costs remains a key watchpoint.
Parag Milk Foods Q3 FY26 Revenue Up 13% YoY to ₹984 Cr; PAT Flat at ₹34.6 Cr
Parag Milk Foods reported a 13.3% YoY growth in standalone revenue for Q3 FY26, reaching ₹984.19 crore. Net profit remained nearly stagnant at ₹34.55 crore compared to ₹34.18 crore in the previous year, largely due to a one-time exceptional charge of ₹5.39 crore for labor code provisions. While the 9-month performance remains strong with a 34.6% PAT growth, the sequential (QoQ) profit saw a sharp 38% decline from ₹55.70 crore in Q2 FY26. Rising material costs, which grew from ₹600 crore to ₹705 crore YoY, continue to pressure quarterly margins.
Key Highlights
Revenue from operations increased 13.3% YoY to ₹984.19 crore in Q3 FY26.
Standalone PAT for the quarter stood at ₹34.55 crore, including a ₹5.39 crore exceptional hit.
9-month FY26 PAT surged 34.6% to ₹122.60 crore compared to ₹91.09 crore in 9M FY25.
Finance costs decreased significantly to ₹18.64 crore from ₹23.50 crore in the same quarter last year.
Cost of materials consumed rose to ₹704.79 crore in Q3 FY26 from ₹600.24 crore in Q3 FY25.
💼 Action for Investors
Investors should focus on the company's ability to manage rising raw material costs which are impacting quarterly margins. While the long-term 9-month growth trajectory is positive, the sequential dip in profitability suggests a need for caution regarding short-term operational headwinds.
Parag Milk Foods Q3 FY26 Standalone PAT at ₹34.55 Cr; Revenue up 13.3% YoY to ₹984.19 Cr
Parag Milk Foods reported a 13.3% YoY growth in standalone revenue for Q3 FY26, reaching ₹984.19 crore. However, net profit remained nearly flat YoY at ₹34.55 crore and saw a significant sequential decline from ₹55.70 crore in Q2 FY26. The bottom line was impacted by a one-time exceptional charge of ₹5.39 crore related to new Government Labour Code provisions for employee benefits. Despite the quarterly pressure, the nine-month (9M FY26) performance remains strong with PAT rising 34.6% YoY to ₹122.60 crore.
Key Highlights
Standalone Revenue from operations grew 13.3% YoY to ₹984.19 crore in Q3 FY26.
Standalone Net Profit for the quarter stood at ₹34.55 crore, compared to ₹34.18 crore in the previous year's corresponding quarter.
Recognized a one-time exceptional expense of ₹5.39 crore due to the implementation of new unified Labour Codes.
9M FY26 performance shows robust growth with total income reaching ₹2,823.56 crore and PAT up 34.6% YoY.
Finance costs for the quarter decreased to ₹18.64 crore from ₹23.50 crore in Q3 FY25, indicating improved debt management.
💼 Action for Investors
Investors should monitor the company's ability to maintain margins as the QoQ profit decline suggests rising operational costs despite steady revenue. The long-term growth trajectory for the 9-month period remains positive, but short-term volatility in raw material costs and the impact of new labour regulations should be watched.
Park Hotels Q3 Standalone Revenue Grows 9% YoY to ₹187.6 Cr; PAT at ₹24.7 Cr
Apeejay Surrendra Park Hotels reported a 9.3% YoY increase in standalone revenue from operations to ₹187.61 crore for Q3 FY26. While EBITDA grew to ₹68.78 crore from ₹64.41 crore YoY, Net Profit (PAT) declined to ₹24.67 crore from ₹31.90 crore due to higher depreciation, finance costs, and tax expenses. The company is aggressively expanding, having concluded the acquisition of Zillion Hotels in Mumbai for ₹224.76 crore and Fisherman's Grove in Kerala for ₹20.50 crore. An exceptional loss of ₹1.40 crore was recorded during the quarter related to the implementation of new Government Labour Codes.
Key Highlights
Standalone Revenue from operations increased 9.3% YoY to ₹187.61 crore.
EBITDA improved to ₹68.78 crore compared to ₹64.41 crore in the same quarter last year.
Acquired Zillion Hotels and Resorts (Mumbai) for ₹224.76 crore to strengthen presence in the Juhu market.
Acquired 100% stake in Fisherman's Grove Resorts (Kerala) for ₹20.50 crore.
Net Profit (PAT) stood at ₹24.67 crore, impacted by a ₹1.40 crore exceptional charge for labor code compliance.
💼 Action for Investors
Investors should focus on the company's aggressive inorganic growth strategy and how the newly acquired Mumbai and Kerala assets contribute to the bottom line in coming quarters. While operational margins remain steady, the impact of increased depreciation and finance costs from acquisitions on net profitability warrants a cautious watch.
Park Hotels Q3 Standalone Revenue Up 9% YoY to ₹187.6 Cr; PAT Declines to ₹24.7 Cr
Apeejay Surrendra Park Hotels reported a 9.2% YoY increase in standalone revenue from operations to ₹187.61 crore for Q3 FY26. However, Profit After Tax (PAT) saw a YoY decline of 22.6%, falling to ₹24.67 crore, primarily due to higher operating expenses and a ₹1.40 crore exceptional charge related to new labour codes. On a sequential basis, performance improved significantly with revenue and PAT growing 17.7% and 59% respectively. The company also highlighted strategic acquisitions in Mumbai and Kerala to bolster its hospitality portfolio.
Key Highlights
Standalone revenue grew 9.2% YoY to ₹187.61 crore in Q3 FY26 compared to ₹171.71 crore in Q3 FY25.
Profit After Tax (PAT) stood at ₹24.67 crore, a decrease from ₹31.90 crore in the previous year's corresponding quarter.
Operating expenses rose to ₹120.28 crore from ₹109.67 crore YoY, impacting overall margins.
The company completed the acquisition of Zillion Hotels (Mumbai) for ₹224.76 crore and Fisherman’s Grove (Kerala) for ₹20.50 crore.
An exceptional item of ₹1.40 crore was recognized during the quarter due to the impact of new Government Labour Codes.
💼 Action for Investors
Investors should monitor the integration and occupancy rates of the newly acquired properties in Mumbai and Kerala as they are key to future revenue growth. While sequential growth is strong, the YoY margin compression suggests a need to watch cost management closely.
Apar Industries Q3 FY26 PAT Rises 19.4% to ₹209 Cr; Conductor EBITDA/MT Hits Record ₹44,195
Apar Industries reported a 16.2% YoY growth in consolidated revenue to ₹5,480 crores for Q3 FY26, driven by a strong 30% growth in the domestic market. Despite a slowdown in US exports due to Section 232 tariffs, the Conductor segment achieved a record EBITDA of ₹44,195 per metric ton due to a superior product mix. The company recognized an exceptional loss of ₹25 crores for labor code provisions but still managed a 19.4% increase in PAT to ₹209 crores. Management noted a recovery in US cable orders with ₹500 crores booked in Q3, signaling a potential rebound in Q4.
Key Highlights
Consolidated revenue grew 16.2% YoY to ₹5,480 crores, while 9-month PAT reached an all-time high of ₹723 crores.
Conductor segment EBITDA/MT surged to ₹44,195 from ₹29,593 YoY, supported by a 44.2% premium product mix.
Domestic revenue across segments grew 30% YoY, offsetting an 11.2% decline in total exports.
Cable segment saw a 65% drop in US revenue in Q3, but secured ₹500 crores in new orders for execution in Q4.
Exceptional provision of ₹25 crores made for past service costs related to the new labor code.
💼 Action for Investors
Investors should monitor the sustainability of the high conductor margins and the execution of the new ₹500 crore US cable order book. The company remains a key beneficiary of India's renewable energy push and global grid modernization.
Paradeep Phosphates Amends MOA to Enter Power Generation and Distribution Business
Paradeep Phosphates Limited has received shareholder approval via a special resolution to amend its Memorandum of Association (MOA). The amendment adds a new object clause allowing the company to generate, distribute, and sell electrical power from conventional and non-conventional sources, including waste heat recovery systems. This strategic move enables the company to monetize surplus power by selling it to state utilities and open market buyers, potentially creating a new revenue stream. The resolution was officially passed through a postal ballot concluded on February 02, 2026.
Key Highlights
Special Resolution passed on February 02, 2026, to alter the Company's Object Clause.
New sub-clause (iv) inserted to permit dealing in electrical power and energy from various sources.
Specific inclusion of waste heat recovery systems to optimize industrial efficiency.
Authorization to sell surplus power to State utilities and open market buyers under applicable laws.
Restructuring of MOA Clause III to align with modern regulatory titling and numbering standards.
💼 Action for Investors
Investors should view this as a positive step toward operational efficiency and revenue diversification. Monitor upcoming capital expenditure plans related to power infrastructure or waste heat recovery projects.