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Pashupati Cotspin Q3 PAT Jumps 238% YoY to ₹2.69 Cr Despite Revenue Dip
Pashupati Cotspin reported a standalone Profit After Tax (PAT) of ₹269.12 Lakhs for Q3 FY26, a significant increase from ₹79.61 Lakhs in the same quarter last year. However, revenue from operations declined by 10.2% YoY to ₹14,768.57 Lakhs. On a nine-month basis, PAT grew to ₹876.57 Lakhs compared to ₹691.79 Lakhs in the previous year, showing improved margins. The company noted that its cotton ginning business is seasonal, typically peaking between October and April, making sequential comparisons less relevant.
Key Highlights
Net Profit for Q3 FY26 surged 238% YoY to ₹2.69 Crore from ₹0.80 Crore in Q3 FY25.
Revenue from operations for the quarter stood at ₹147.69 Crore, down from ₹164.54 Crore YoY.
Nine-month (9M FY26) PAT increased to ₹8.77 Crore against ₹6.92 Crore in 9M FY25.
Total expenses for Q3 FY26 decreased significantly to ₹147.74 Crore compared to ₹165.93 Crore in Q3 FY25.
Basic EPS for the quarter improved to ₹1.71 from ₹0.51 in the corresponding previous quarter.
💼 Action for Investors
The significant improvement in bottom-line margins despite lower revenue suggests better operational efficiency or favorable raw material pricing. Investors should monitor the seasonal performance in Q4, which is typically a peak period for the ginning business, to see if this margin expansion is sustainable.
Mohit Industries Q3 FY26 Revenue Up 22.7% YoY; Net Loss Narrows to ₹29.58 Lacs
Mohit Industries reported a 22.7% YoY increase in standalone revenue to ₹3628.86 Lacs for the quarter ended December 31, 2025. While the company remains in a net loss position of ₹29.58 Lacs, this is an improvement from the ₹57.17 Lacs loss in the same quarter last year. On a consolidated basis, Total Comprehensive Income surged to ₹4315.08 Lacs, primarily driven by a significant ₹3793.23 Lacs gain in other comprehensive income from associates. Management expects future profitability to improve due to relaxed BIS guidelines allowing for cheaper raw material imports and normalized solar power generation.
Key Highlights
Standalone revenue from operations grew 22.7% YoY to ₹3628.86 Lacs from ₹2957.89 Lacs.
Standalone net loss narrowed to ₹29.58 Lacs in Q3 FY26 compared to a loss of ₹57.17 Lacs in Q3 FY25.
Consolidated Total Comprehensive Income reached ₹4315.08 Lacs, boosted by ₹3793.23 Lacs in OCI from associate companies.
Auditor issued a qualified opinion regarding non-provisioning for post-employment benefits on an accrual basis (Ind AS 19 deviation).
Management noted that BIS guideline changes have removed certain raw materials from mandatory compliance, enabling more competitive import pricing.
💼 Action for Investors
Investors should monitor the company's ability to transition from narrowing losses to operational profitability, especially given the positive impact of raw material sourcing changes. However, the recurring auditor qualification regarding employee benefit provisions remains a point of caution for financial transparency.
Timken India Q3 FY26 Revenue Up 13.8% YoY to ₹764 Cr; Margins Hit by One-time Costs
Timken India reported a 13.8% YoY increase in Q3 FY26 revenue to ₹764.4 crores, driven by a 20% YoY growth in the mobile (CV) segment. However, profitability was impacted by transitional costs, including Labor Code adjustments and ramp-up expenses for the new Bharuch facility, leading to a 9-month PBT margin of 13.8% versus 15.9% last year. The company is targeting over 50% capacity utilization at its Bharuch plant by Q1 FY27, up from the current 30% level. Management remains optimistic about export opportunities following recent trade developments between India, the US, and the EU.
Key Highlights
Revenue grew 13.8% YoY to ₹764.4 crores in Q3 FY26, with 9-month revenue reaching ₹2,346 crores.
Mobile segment revenue increased 20% YoY to ₹157.1 crores, reflecting strong demand in commercial vehicles.
Bharuch plant utilization is currently at 30%, with all SRB and CRB lines now capitalized and undergoing customer approvals.
One-time impacts from Labor Code and plant ramp-up costs compressed 9-month PBT margins to 13.8% from 15.9%.
Investment of ₹35 crores in the new FRC line is on track for completion by Q1/Q2 FY27.
💼 Action for Investors
Investors should monitor the stabilization of the Bharuch plant and the normalization of margins as one-time transitional costs subside. The strong growth in the CV segment and potential export tailwinds from global trade deals are positive long-term indicators.
Bharti Airtel Announces Final Call of ₹401.25 per Partly Paid-up Share
Bharti Airtel has issued a notice for the first and final call of ₹401.25 per share for its outstanding partly paid-up equity shares issued in 2021. Shareholders holding these shares as of the record date, February 6, 2026, are required to make the payment between March 2 and March 16, 2026. Failure to pay will result in a 10% annual interest penalty or potential forfeiture of the shares and previously paid amounts. Upon successful payment, these shares will be converted into fully paid-up equity shares and resume trading under the main ISIN.
Key Highlights
Final call amount of ₹401.25 per share, comprising ₹3.75 face value and ₹397.50 premium
Payment window is open for 15 days from March 02, 2026, to March 16, 2026
Record date for determining eligible shareholders was February 06, 2026
Non-payment attracts a 10% per annum interest penalty or forfeiture of the shares
Conversion to fully paid-up shares (ISIN: INE397D01024) expected within two weeks of the payment deadline
💼 Action for Investors
Holders of Bharti Airtel partly paid-up shares must ensure payment of ₹401.25 per share by March 16, 2026, via ASBA or 3-in-1 accounts to avoid forfeiture. Investors should monitor their registered emails for the formal notice and payment instructions.
TIL Ltd Q3FY26: Revenue at ₹75.8 Cr, Sequential EBITDA up 15%, Order Book at ₹400+ Cr
TIL Limited reported a 9% YoY decline in revenue to ₹7,577 Lakh for Q3FY26, though it achieved a sequential EBITDA growth of 15% to ₹376 Lakh. The company faced a net loss of ₹684 Lakh for the quarter, impacted by new labor code provisions and global headwinds. However, operational momentum is visible through landmark order wins exceeding ₹200 crores from CONCOR and the Indian Defence sectors. With a robust order pipeline of over ₹400 crores and the launch of three new indigenous products, management expects a stronger performance in Q4FY26.
Key Highlights
Revenue stood at ₹7,577 Lakh, a 9% YoY decline but showing sequential stability.
EBITDA grew 15% QoQ to ₹376 Lakh, with margins improving from 4% to 5% sequentially.
Secured ₹200+ crores in new orders, including ₹110 crores from the Indian Army and Air Force.
Order pipeline remains strong at ₹400+ crores, supported by a new ₹30+ crore O&M contract from CONCOR.
Launched three breakthrough indigenous products, including the CarryKing 515, targeting the high-volume pick-and-carry segment.
💼 Action for Investors
Investors should focus on the company's ability to convert its ₹400+ crore order book into revenue to offset current net losses. The sequential improvement in EBITDA and strong traction in the defence sector are positive indicators for a potential turnaround in FY27.
Pashupati Cotspin Q3 Net Profit Surges 238% YoY to ₹2.69 Crore
Pashupati Cotspin reported a significant 238% year-on-year increase in net profit to ₹269.12 lakhs for the quarter ended December 31, 2025, despite a 10.2% dip in revenue from operations to ₹14,768.57 lakhs. The company's profitability improved substantially due to better cost management, with finance costs reducing by 38% YoY to ₹223.41 lakhs. For the nine-month period, net profit rose 26.7% to ₹876.57 lakhs compared to the previous year. The company recently migrated to the main board of NSE and BSE in July 2025 and is now reporting under Ind AS standards.
Key Highlights
Net profit for Q3 FY26 jumped 238% YoY to ₹269.12 lakhs from ₹79.61 lakhs in the previous year.
Revenue from operations decreased by 10.2% YoY to ₹14,768.57 lakhs compared to ₹16,453.95 lakhs.
Finance costs saw a sharp decline of 38% YoY, falling to ₹223.41 lakhs from ₹360.01 lakhs.
Nine-month net profit reached ₹876.57 lakhs, up from ₹691.79 lakhs in the corresponding period of the previous year.
The company successfully migrated from the SME platform to the Main Board of NSE and BSE on July 17, 2025.
💼 Action for Investors
Investors should focus on the company's improved margins and significant reduction in interest expenses, which are driving bottom-line growth despite flat revenue. Monitor the upcoming peak seasonal performance as the cotton ginning business typically accelerates between October and April.
Bharati Defence Q3 Results: Net Profit at ₹2.92 Cr, Core Revenue Remains Nil
Bharati Defence and Infrastructure Limited reported a net profit of ₹291.72 Lakhs for the quarter ended December 31, 2025, showing a recovery from a loss of ₹3.77 Lakhs in the same quarter last year. However, the company reported zero revenue from core operations, with all income derived from 'Other Operating Revenue'. Sequentially, net profit declined by 41% from ₹495.25 Lakhs in the September 2025 quarter. The company remains in a precarious financial position with massive negative reserves and is currently undergoing capital restructuring.
Key Highlights
Net Profit for Q3 FY26 stood at ₹291.72 Lakhs versus a loss of ₹3.77 Lakhs in Q3 FY25.
Revenue from core operations remained at zero, with total income of ₹314.87 Lakhs coming from other operating sources.
Nine-month net profit for FY26 reached ₹869.98 Lakhs compared to ₹117.93 Lakhs in the previous year's period.
The company is actively undergoing capital restructuring including reduction of share capital.
Reserves and surplus remain deeply negative at approximately -₹8,03,679 Lakhs as per the last audited balance sheet.
💼 Action for Investors
Investors should exercise extreme caution as the company lacks core business revenue and is a 'special situation' stock undergoing restructuring. The current profitability is driven by non-core income and does not reflect a turnaround in shipbuilding or defence manufacturing operations.
Shanti Gold to Invest Rs 4.28 Cr in Golkunda Diamonds via Convertible Warrants
Shanti Gold International Limited has approved a strategic investment of Rs 4.28 Crores in Golkunda Diamonds & Jewellery Limited. The company will acquire 2,00,000 convertible warrants at a price of Rs 214 per warrant through a private placement. Upon full conversion of these warrants into equity, Shanti Gold will hold a 2.42% stake in the target entity. This investment aligns with Shanti Gold's focus on the jewellery sector, where the target company reported a turnover of Rs 252.44 Crores in FY25.
Key Highlights
Investment of Rs 4.28 Crores for 2,00,000 convertible warrants at Rs 214 each.
Post-conversion stake estimated at 2.42% of Golkunda Diamonds' paid-up capital.
Target company Golkunda Diamonds reported a PAT of Rs 11.81 Crores for FY 2024-25.
The acquisition is a cash consideration and does not involve a related party transaction.
Golkunda Diamonds is a listed entity with a consistent turnover exceeding Rs 230 Crores over the last three years.
💼 Action for Investors
Investors should view this as a positive capital allocation move into a profitable peer within the jewellery industry. Monitor the conversion of warrants and any potential operational synergies between the two entities.
TIL Ltd Reports Q3 Loss of ₹6.84 Cr, Plans ₹200 Cr Fundraise and 60% Stake Buy in Tulip Compression
TIL Limited reported a net loss of ₹6.84 crore for the quarter ended December 31, 2025, widening from a loss of ₹3.70 crore in the same period last year. Revenue from operations saw a slight decline to ₹73.23 crore compared to ₹79.14 crore YoY. To support growth, the board has approved a significant fundraise of ₹200 crore and the acquisition of a 60% stake in Tulip Compression Private Limited. However, the company is currently navigating a substantial GST demand of ₹40.92 crore and a SEBI penalty, both of which are being contested.
Key Highlights
Net loss for Q3 FY26 widened to ₹6.84 crore from ₹3.70 crore in Q3 FY25.
Board approved a capital raise of up to ₹200 crore via Rights, Preferential, or QIP modes.
Proposed acquisition of 60% equity share capital of M/s. Tulip Compression Private Limited.
Company is contesting a GST demand order of ₹4,092.32 lakhs including interest and penalties.
Allotted 37,50,000 equity shares on January 26, 2026, following warrant conversions, increasing paid-up capital.
💼 Action for Investors
Investors should closely monitor the terms of the upcoming ₹200 crore fundraise and the impact of the Tulip Compression acquisition on the company's bottom line. The widening losses and ongoing tax litigation remain significant risk factors.
Tilaknagar Industries Q3 Net Revenue Jumps 95% to ₹664 Cr on Imperial Blue Integration
Tilaknagar Industries (TI) reported a transformative Q3 FY26 with net revenue surging 95% YoY to ₹664 crore, primarily driven by the acquisition of the Imperial Blue (IB) brand. IB contributed 1.79 million cases in its first month (December 2025) under TI ownership, propelling the company to a ~32% market share in the Southern region's P&A segment. While the ₹3,550 crore acquisition increased gross debt to ₹2,148 crore, management has a clear deleveraging roadmap to bring Net Debt/EBITDA below 1.0x by FY29. The company is targeting a 150-250 bps EBITDA margin expansion over the next 24-36 months through synergy realization and premiumization.
Key Highlights
Total Q3 volumes grew 76.1% YoY to 53.1 lac cases, including 17.9 lac cases from Imperial Blue in December alone.
Net Revenue for Q3 FY26 stood at ₹664 crore, a 95% increase YoY, while 9M FY26 revenue reached ₹1,471 crore.
Adjusted EBITDA grew 49.6% YoY to ₹90 crore in Q3, with an EBITDA margin of 14.0% despite integration activities.
Net Debt increased to ₹1,526 crore following the ₹3,550 crore acquisition of the Imperial Blue business from Pernod Ricard.
Management targets low double-digit volume growth and a reduction in Net Debt/EBITDA to under 1.0x by FY29.
💼 Action for Investors
Investors should view the successful initial integration of Imperial Blue as a major growth catalyst that shifts TI into a scaled IMFL player. Focus should remain on the company's ability to sustain margins while deleveraging the balance sheet over the next few quarters.
Tilaknagar Industries Q3 Net Revenue Jumps 95% to Rs 664 Cr; IB Acquisition Drives Volume
Tilaknagar Industries (TI) reported a massive 95% YoY growth in Q3 FY26 net revenue to Rs 664 crore, significantly boosted by the integration of the Imperial Blue (IB) brand. Total volumes surged 76.1% to 53.1 lakh cases, with IB contributing 17.9 lakh cases in its first month of ownership (December 2025). EBITDA rose 82.3% to Rs 110 crore, while adjusted PAT grew 40.1% to Rs 76 crore. The company has emerged as the largest Prestige & Above player in South India with a 32% market share as of December 2025.
Key Highlights
Consolidated Q3 net revenue grew 95% YoY to Rs 664 crore; adjusted for subsidy, growth was 89.2%.
Total volume reached 53.1 lakh cases, a 76.1% YoY growth, driven by the Imperial Blue acquisition.
EBITDA increased 82.3% YoY to Rs 110 crore, with adjusted EBITDA margins standing at 14.0%.
Management targets EBITDA margin expansion of 150-250 bps over the next 24-36 months.
Company aims to reduce Net Debt/EBITDA to below 1.0x by FY29 through strong operating cash flows.
💼 Action for Investors
Investors should note the strong execution in integrating the Imperial Blue brand, which has immediately scaled volumes and market share. The clear roadmap for deleveraging and margin expansion makes this a positive outlook for long-term growth.
Optiemus Q3 FY26: Standalone Revenue Up 40%, Consolidated PAT Falls 27% Amid New Partnerships
Optiemus Infracom reported a mixed Q3 FY26, with standalone revenue growing 39.72% YoY to ₹20,295 lakhs, while consolidated revenue declined 8.8% to ₹43,001 lakhs. Profitability at the consolidated level was under pressure as PAT dropped 27% YoY to ₹1,223 lakhs, down from ₹1,678 lakhs. Despite the earnings dip, the company secured major strategic wins including Soundbox orders from PhonePe and POS device contracts from Mosambee (Pine Labs). The inauguration of India's first cover-glass finishing facility in Tamil Nadu marks a significant move into high-value component manufacturing, with trial production starting in April 2026.
Key Highlights
Standalone revenue grew 39.72% YoY to ₹20,295 lakhs, while standalone PAT remained nearly flat at ₹507 lakhs.
Consolidated PAT declined 27% YoY to ₹1,223 lakhs, although consolidated EBITDA margins improved slightly to 7.71% from 7.35%.
Secured major fintech hardware orders from PhonePe (Soundbox) and Mosambee/Pine Labs for POS devices across major banks like SBI.
Inaugurated India's first cover-glass finishing facility in partnership with Corning; trial production scheduled for April 2026.
Expanded into telecom networking and IoT modules with new partnerships including Accton and a global IoT leader.
💼 Action for Investors
Investors should monitor the operationalization of the new glass facility and the execution of the PhonePe/Mosambee orders in FY27 to see if they offset the current consolidated revenue decline. The stock remains a watch as the company transitions from low-margin assembly to higher-value fintech and telecom hardware manufacturing.
Nitiraj Engineers Q3 Net Profit Plummets 94% YoY to ₹39.42 Lacs
Nitiraj Engineers Limited reported a significant downturn in its financial performance for the quarter ended December 31, 2025. Revenue from operations fell sharply by 69.5% YoY to ₹1,130.69 Lacs compared to ₹3,708.20 Lacs in the previous year. Net profit witnessed a massive collapse of 93.9%, dropping to ₹39.42 Lacs from ₹651.44 Lacs. The nine-month performance also shows a downward trend, with total income falling to ₹3,934.24 Lacs from ₹5,447.21 Lacs in the corresponding period last year.
Key Highlights
Revenue from operations decreased by 69.5% YoY to ₹1,130.69 Lacs in Q3 FY26.
Net profit for the quarter plummeted 93.9% YoY to ₹39.42 Lacs from ₹651.44 Lacs.
Earnings per share (EPS) fell drastically to ₹0.38 from ₹6.35 in the same quarter last year.
Profit before tax (PBT) for the quarter stood at ₹51.98 Lacs, down from ₹870.61 Lacs YoY.
Nine-month net profit for the period ended Dec 31, 2025, declined to ₹169.79 Lacs from ₹488.65 Lacs.
💼 Action for Investors
Investors should exercise caution given the severe contraction in both top-line and bottom-line growth. It is critical to monitor management's explanation for this sharp decline in operational efficiency and sales volume.
Tiger Logistics Q3 FY26: TEU Volumes Surge 52% YoY Despite 29.5% PAT Decline
Tiger Logistics reported a significant 52.2% YoY growth in ocean freight volumes (TEUs) for Q3 FY26, reaching 25,433 units. However, quarterly revenue declined 13.4% YoY to ₹13,902 lakhs, and PAT fell 29.5% YoY to ₹594 lakhs, primarily due to competitive freight realizations and higher finance costs. For the nine-month period (9M FY26), EBITDA margins showed resilience, improving to 6.0% from 5.6% in the previous year. The company is actively diversifying its client base, with top 5 customer concentration dropping from 60% to 49% YoY.
Key Highlights
Ocean freight volumes (TEUs) grew 52.2% YoY to 25,433 in Q3 FY26, while 9M volumes rose 32.3% YoY.
Q3 FY26 Revenue decreased 13.4% YoY to ₹13,902 lakhs, and PAT dropped 29.5% YoY to ₹594 lakhs.
9M FY26 EBITDA margins improved to 6.0% from 5.6% YoY, reflecting better operational efficiency despite revenue pressure.
Top 5 customer revenue concentration reduced significantly to 49% in Q3 FY26 from 60% in Q3 FY25.
Sanctioned working capital limits increased to ₹37 crore in 9M FY26 to support growing volume requirements.
💼 Action for Investors
Investors should monitor if the strong volume growth eventually translates into bottom-line recovery as freight rates stabilize. The reduction in customer concentration and the launch of FreightJar 2.0 are positive long-term indicators, but near-term margin pressure warrants caution.
Nitiraj Engineers Q3 Net Profit Crashes 94% YoY to ₹39.42 Lacs
Nitiraj Engineers Limited reported a significant downturn in its financial performance for the quarter ended December 31, 2025. Revenue from operations fell sharply by 69.5% year-on-year to ₹1,130.69 Lacs from ₹3,708.20 Lacs. Net profit for the quarter plummeted by nearly 94% to ₹39.42 Lacs, compared to ₹651.44 Lacs in the same period last year. The nine-month performance also reflects this trend, with net profit dropping to ₹169.79 Lacs from ₹488.65 Lacs in the previous year.
Key Highlights
Revenue from operations declined 69.5% YoY to ₹1,130.69 Lacs in Q3 FY26.
Net profit crashed 93.9% YoY to ₹39.42 Lacs from ₹651.44 Lacs.
Earnings Per Share (EPS) fell significantly to ₹0.38 from ₹6.35 in the year-ago quarter.
Nine-month revenue for FY26 stands at ₹3,823.30 Lacs compared to ₹5,391.10 Lacs in 9M FY25.
Profit before tax for the quarter was a mere ₹51.98 Lacs against ₹870.61 Lacs YoY.
💼 Action for Investors
The severe decline in both top-line and bottom-line performance is a major concern; investors should look for management's explanation regarding the drop in sales. It is advisable to remain cautious and wait for signs of operational recovery before making new commitments.
Tiger Logistics Q3 PAT Drops 29.5% YoY to ₹5.94 Cr Amid Global Freight Rate Softening
Tiger Logistics reported a weak Q3 FY26 with revenue declining 13.4% YoY to ₹139.02 crore, primarily due to external headwinds like US tariffs and geopolitical tensions in the Middle East. Despite the revenue drop, the company achieved a significant 52% YoY growth in TEU volumes, suggesting strong operational demand. However, net profit for the quarter fell 29.5% YoY to ₹5.94 crore as freight realizations normalized from earlier elevated levels. For the nine-month period, EBITDA margins showed resilience, improving to 6.0% from 5.6% in the previous year.
Key Highlights
Q3 FY26 Revenue stood at ₹13,902.5 lakhs, down 13.4% YoY and 17.6% QoQ.
Net Profit (PAT) for the quarter declined 29.5% YoY to ₹593.8 lakhs with a margin of 4.3%.
TEU volumes grew robustly by 52% YoY in Q3 and 32% YoY for the 9M FY26 period.
9M FY26 EBITDA increased 3.6% YoY to ₹2,460.6 lakhs, with margins improving to 6.0%.
Performance was impacted by US-Iran geopolitical developments and a moderation in global freight rates.
💼 Action for Investors
Investors should weigh the strong 52% volume growth against the sharp decline in profitability caused by lower freight realizations. While the asset-light model provides resilience, the stock may remain under pressure until global freight rates and geopolitical conditions stabilize.
Creative Eye Appoints Ashutosh Kochhar as MD and Sachin Devare as CFO
Creative Eye Limited has announced a major leadership transition following its Extraordinary General Meeting on February 13, 2026. Mr. Ashutosh Kochhar has been appointed as Managing Director for a five-year term, while Mr. Sachin Devare, a Chartered Accountant with over 18 years of experience, has been named Chief Financial Officer. The company also filled a casual vacancy in its statutory auditor position by appointing M/s. STDJ & Co. following the resignation of the previous auditors. These changes represent a significant refresh of the company's top management and financial oversight functions.
Key Highlights
Mr. Ashutosh Kochhar appointed as Managing Director and KMP for a 5-year term effective February 13, 2026
Mr. Sachin Devare appointed as Chief Financial Officer bringing over 18 years of experience in financial controllership
M/s. STDJ & Co., Chartered Accountants, appointed as Statutory Auditors to fill the vacancy caused by the resignation of M/s. NGS & Co. LLP
M/s. Kirty Vaidya & Associates appointed as Secretarial Auditors for the company
💼 Action for Investors
Investors should monitor the strategic direction under the new Managing Director and observe the impact of the new CFO on the company's financial reporting and cost management. The change in statutory auditors also warrants a review of the next set of audited financial results for any adjustments.
Optiemus Infracom Q3 Net Profit Jumps 37% YoY to ₹20.53 Cr; Positive Legal Turn in BlackBerry Case
Optiemus Infracom reported a strong consolidated net profit of ₹20.53 crore for Q3 FY26, up from ₹15.00 crore in the same period last year, despite a year-on-year dip in revenue to ₹430.01 crore. The company's manufacturing segment contributed significantly with ₹265.20 crore in revenue, showing its growing importance in the business mix. A major positive development is the UK High Court's ruling against BlackBerry's $22.52 million claim, labeling it an 'abuse of process,' which has led to a 70% settlement offer from BlackBerry. Optiemus is currently pursuing counterclaims exceeding $20 million, further strengthening its financial position.
Key Highlights
Consolidated Net Profit increased 36.8% YoY to ₹2,052.89 Lakhs for the quarter ended December 31, 2025.
Consolidated Revenue from operations stood at ₹43,001.25 Lakhs, reflecting a slight sequential increase from Q2 FY26.
Manufacturing segment revenue reached ₹26,520.24 Lakhs, while Trading & Distribution contributed ₹21,614.24 Lakhs.
Favorable legal update: UK High Court ruled in favor of Optiemus against BlackBerry; BlackBerry offered to reduce its claim by 70%.
Basic Earnings Per Share (EPS) improved to ₹2.38 from ₹1.75 in the year-ago quarter.
💼 Action for Investors
Investors should take note of the significant improvement in bottom-line margins and the favorable legal development which removes a major contingent liability. The stock remains a watch for growth in the manufacturing segment and the final resolution of the BlackBerry counterclaim.
ITI Ltd Q3 FY26: Net Loss Narrows to ₹25.33 Cr Despite 50% YoY Revenue Decline
ITI Limited reported a sharp 50.2% year-on-year decline in revenue from operations, falling to ₹514.65 crore for the quarter ended December 31, 2025. Despite the revenue slump, the company managed to narrow its net loss to ₹25.33 crore from a loss of ₹48.88 crore in the previous year's quarter. The company continues to operate under a government-backed revival plan and maintains a substantial order book of approximately ₹18,546 crore. However, the statutory auditors have issued a disclaimer of conclusion, indicating significant concerns regarding the financial statements.
Key Highlights
Revenue from operations crashed 50.2% YoY to ₹514.65 crore from ₹1,034.54 crore.
Net loss for Q3 FY26 narrowed to ₹25.33 crore compared to a loss of ₹48.88 crore in Q3 FY25.
Total order book stands at a robust ₹18,546 crore, including the ₹8,280 crore ASCON Phase IV project.
The ASCON Phase IV project timeline has been revised and extended to December 2026.
Statutory auditors issued a 'Disclaimer of Conclusion' on the financial results, and the board remains non-compliant with SEBI's independent director requirements.
💼 Action for Investors
Investors should exercise extreme caution as the significant revenue drop and auditor's disclaimer of conclusion signal high operational and reporting risks. While the large order book provides long-term visibility, the company's persistent losses and execution delays make it a high-risk investment.
ITI Limited Appoints Dr. Prasad Barre as Chief Financial Officer
ITI Limited has appointed Dr. Prasad Barre as the new Chief Financial Officer and Key Managerial Personnel, effective February 13, 2026. He replaces Shri Rajeev Srivastava in this critical leadership role. Dr. Barre brings over 30 years of professional experience from prominent organizations such as Hindustan Aeronautics Limited (HAL) and National Housing Bank (NHB). His expertise in stressed asset management and corporate credit is expected to strengthen the company's financial oversight.
Key Highlights
Dr. Prasad Barre appointed as CFO and Key Managerial Personnel effective February 13, 2026
The new CFO replaces Shri Rajeev Srivastava following a Board Meeting decision
Dr. Barre possesses over 30 years of experience across PSUs and financial institutions
Expertise includes Corporate Credit, Stressed Asset Management, and Project Appraisal
Educational background includes an MBA, Doctorate in Management, and certifications in IFRS and SAP
💼 Action for Investors
Investors should monitor if the new CFO's extensive experience in asset management leads to improved financial discipline and balance sheet health. This is a routine management transition and does not require immediate portfolio changes.