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Thejo Engineering Q3 Revenue Rises 18.8% to ₹132.6 Cr; PAT Dips to ₹10.78 Cr on One-time Charges
Thejo Engineering reported a healthy 18.8% YoY increase in standalone revenue to ₹132.68 crore for the quarter ended December 2025, driven by strong service unit performance. However, standalone Net Profit (PAT) declined to ₹10.78 crore from ₹12.99 crore YoY, primarily due to a ₹2.73 crore one-time exceptional charge related to the New Labour Codes. The company also transitioned its depreciation method from WDV to SLM, which reduced depreciation expenses by ₹1.94 crore this quarter. Additionally, the board approved the grant of 7,236 ESOPs at an exercise price of ₹1,304 per share.
Key Highlights
Standalone Revenue from Operations grew 18.8% YoY to ₹132.68 crore in Q3 FY26.
Net Profit (PAT) stood at ₹10.78 crore, down 17% YoY due to a ₹2.73 crore exceptional expense for labour code compliance.
Service unit revenue contributed significantly, rising to ₹86.67 crore from ₹68.06 crore YoY.
Change in depreciation accounting (WDV to SLM) resulted in a ₹1.94 crore lower charge, boosting PBT for the quarter.
Granted 7,236 ESOP options at an exercise price of ₹1,304, a 25% discount to the prevailing market price.
💼 Action for Investors
Investors should focus on the robust 18% top-line growth while noting that the profit dip is largely due to a one-time regulatory charge. Monitor if the change in depreciation method continues to mask underlying operational costs in future quarters.
Thejo Engineering Q3 Standalone Revenue Up 18.8% YoY; PAT Declines to ₹10.78 Cr on One-Time Charges
Thejo Engineering reported a standalone revenue of ₹132.69 crore for Q3 FY26, an 18.8% increase over the previous year. Net profit for the quarter stood at ₹10.78 crore, down from ₹12.99 crore YoY, primarily impacted by a one-time exceptional charge of ₹2.73 crore for new labor code compliance. The bottom line was also influenced by a change in the depreciation method from WDV to SLM, which reduced expenses by ₹1.95 crore. The service segment remains the primary growth driver, contributing significantly to the overall revenue mix.
Key Highlights
Standalone Revenue rose 18.8% YoY to ₹132.69 crore, driven by strong performance in Service Units.
Standalone PAT decreased 17% YoY to ₹10.78 crore due to a ₹2.73 crore exceptional labor cost charge.
Change in depreciation method from WDV to SLM resulted in a ₹1.95 crore lower depreciation charge for the quarter, boosting PBT.
Service Units revenue grew 27.3% YoY to ₹86.67 crore, while Manufacturing Units revenue remained relatively flat at ₹60.03 crore.
The Board approved the grant of 7,236 ESOPs to eligible employees at an exercise price of ₹1,304 per share.
💼 Action for Investors
Investors should look past the one-time labor charge and the accounting change in depreciation to focus on the strong 27% growth in the service segment. The underlying operational performance remains healthy, though the manufacturing segment's stagnation warrants monitoring.
Thejo Engineering's UAE Subsidiary Secures AED 6.6 Million Order for Conveyor Belt Replacement
Thejo Engineering's UAE-based subsidiary, TE-Global FZ LLC, has secured a purchase order worth approximately AED 6.6 million from M/s PHB Weserhutte. The contract involves the complete replacement of a steel cord pipe conveyor belt at a government establishment in the UAE. The scope covers methodology preparation, hot splicing, equipment provision, and commissioning support. The project is slated for completion by April 30, 2026, contributing to the company's international service revenue.
Key Highlights
Order value of approximately AED 6.6 million from PHB Weserhutte, UAE
Scope includes full replacement of steel cord pipe conveyor belt and commissioning
Project execution deadline set for April 30, 2026
Contract awarded by an international entity for a UAE government establishment
💼 Action for Investors
Investors should monitor the company's execution efficiency in international markets as this order strengthens its presence in the Middle East. The steady inflow of service-oriented orders is a positive sign for margin stability.