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GILLANDERS - Gillanders Arbut

📊 NSE: GILLANDERS 🏢 Diversified - Medium / Small 📅 Last Updated: 12/13/2025 22:21

📢 Recent Corporate Announcements

Gillanders Q3 Standalone PAT Drops to ₹5.97 Cr; Tea Segment Profit Grows to ₹7.17 Cr

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 06 Feb 2026, 01:14 PM

Gillanders Arbuthnot reported a standalone revenue of ₹104.09 crore for Q3 FY26, a 15.8% decline from ₹123.58 crore in the same quarter last year. Net profit for the quarter stood at ₹5.97 crore, down from ₹15.23 crore in Q3 FY25, though the previous year's figure was aided by an exceptional gain of ₹12.04 crore. The Tea segment showed resilience with a profit of ₹7.17 crore, while the Engineering and Textile divisions faced revenue contractions and losses. A one-time charge of ₹1.47 crore was also recognized due to the implementation of New Labour Codes.

Standalone Revenue from Operations fell 15.8% YoY to ₹10,408.71 Lakhs.
Tea segment revenue increased to ₹6,349.77 Lakhs with a segment profit of ₹717.26 Lakhs compared to ₹264.51 Lakhs YoY.
Engineering (MICCO) segment revenue declined sharply by 59.4% YoY to ₹1,778.35 Lakhs.
Textiles division reported a loss of ₹133.08 Lakhs for the quarter.
Recognized an incremental liability of ₹147.20 Lakhs under employee benefits due to New Labour Codes effective Nov 2025.

💡 Investors should be cautious as the company's profitability is heavily dependent on the seasonal Tea segment while Engineering and Textiles continue to struggle. Monitor the sustainability of Tea margins and the recovery of the Engineering order book in upcoming quarters.

Gillanders Arbuthnot Q3 Net Profit Drops 60.8% YoY to ₹5.97 Crore; Revenue Declines 15.7%

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 06 Feb 2026, 01:10 PM

Gillanders Arbuthnot reported a weak performance for the quarter ended December 31, 2025, with standalone revenue falling to ₹104.09 crore from ₹123.58 crore YoY. Net profit experienced a sharp contraction of 60.8%, landing at ₹5.97 crore compared to ₹15.23 crore in the previous year's corresponding quarter. The results were impacted by a seasonal dip in the Tea segment and widening losses in the Textiles division. Furthermore, the company recognized a one-time incremental liability of ₹1.47 crore due to the implementation of new Labour Codes.

Standalone Revenue from Operations decreased by 15.7% YoY to ₹10,408.71 lakhs.
Net Profit for Q3 FY26 stood at ₹596.99 lakhs, down significantly from ₹1,522.76 lakhs in Q3 FY25.
Tea segment results dropped to ₹717.26 lakhs from ₹1,843.80 lakhs in the preceding quarter (Q2 FY26).
Textiles segment reported a loss of ₹133.08 lakhs, showing continued stress compared to a loss of ₹78.34 lakhs in Q2 FY26.
A charge of ₹147.20 lakhs was recorded under employee benefits due to the New Labour Codes effective November 2025.

💡 Investors should exercise caution as the company's primary revenue drivers in Tea and Textiles are showing signs of weakness and margin pressure. It is advisable to monitor the Textile segment's path to break-even and the impact of the new labor regulations on long-term operating costs.

Gillanders Submits SEBI Compliance Certificate for Q3 FY 2025-26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jan 2026, 11:34 AM

Gillanders Arbuthnot & Company Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The report, issued by Maheshwari Datamatics Pvt. Ltd., confirms the processing of dematerialization requests for the period October 1, 2025, to December 31, 2025. It verifies that physical share certificates were cancelled and the depositories' names were updated in the company's records. This filing is a standard administrative requirement for listed entities in India.

Compliance certificate issued for the quarter ended December 31, 2025.
Registrar Maheshwari Datamatics Pvt. Ltd. confirmed the destruction of physical certificates.
Dematerialization requests were processed within the stipulated SEBI timelines.
The filing confirms the update of the register of members with depository details.

💡 This is a routine administrative filing with no impact on company fundamentals. Investors do not need to take any action.

Gillanders Arbuthnot to Close Trading Window from Jan 1, 2026, for Q3 FY26 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 22 Dec 2025, 12:19 PM

Gillanders Arbuthnot & Company Limited has announced the closure of its trading window for designated persons starting January 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the upcoming financial results for the quarter and nine months ending December 31, 2025. The window will remain closed until 48 hours after the results are officially declared to the stock exchanges. The specific date for the board meeting to approve these results will be announced in due course.

Trading window closure effective from January 1, 2026.
Closure pertains to the financial results for the quarter and nine months ending December 31, 2025.
Restriction applies to all Designated Persons and their immediate relatives.
Window will reopen 48 hours after the financial results are announced to the exchanges.
Board meeting date for result approval to be communicated later.

💡 No action is required as this is a routine regulatory compliance filing. Investors should watch for the upcoming board meeting date to evaluate the company's Q3 financial performance.

Gillanders Arbuthnot: Standalone Financial Results for Quarter Ended Sept 30, 2025

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 15 Dec 2025, 11:49 AM

Gillanders Arbuthnot & Company Limited re-submitted its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025. The company's revenue from operations for the quarter stood at ₹12,254.31 Lakhs. Profit before tax for the quarter was ₹215.46 Lakhs. Basic & Diluted earnings per share for the quarter is ₹1.92. Investors should review the detailed financial results for a comprehensive understanding of the company's performance.

Revenue from Operations for the quarter ended September 30, 2025: ₹12,254.31 Lakhs
Profit before tax for the quarter ended September 30, 2025: ₹215.46 Lakhs
Basic & Diluted earnings per share for the quarter ended September 30, 2025: ₹1.92
Total Segment Assets as at September 30, 2025: ₹50,172.74 Lakhs
Investment in Gillanders Holdings (Mauritius) Limited: USD 50,000

💡 Review the detailed financial results and compare the performance against previous periods and industry peers. Monitor the company's performance in the upcoming quarters, especially the Tea segment due to its seasonal nature.

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💰 Financial Performance

Revenue Growth by Segment

Total operating income grew 25% YoY to INR 412.27 Cr in FY25. The Engineering division (MICCO) recorded 127% YoY growth in H1FY25, increasing its revenue share to 32% in FY25 from a historical 7-12%. Tea and Textile segments saw their combined revenue share decline to 66% in FY25 from 80-90% historically.

Profitability Margins

PBILDT margin improved to 4.74% in FY25 from -0.31% in FY24. PAT margin improved to 3.65% in FY25 from -5.01% in FY24. Tea segment PBIT margin improved to 18.83% in H1FY25 from 13.46% in H1FY24.

EBITDA Margin

PBILDT margin was 4.74% in FY25, representing a significant recovery from an operating loss in FY24. H1FY25 PBILDT margin reached 11.82% due to higher tea prices.

Capital Expenditure

No major capital expenditure is currently planned. Total debt was reduced from INR 300.92 Cr in 2020 to INR 88.70 Cr by March 2024 through asset sales and internal accruals.

Credit Rating & Borrowing

CARE BBB; Stable / CARE A3 (Reaffirmed in October 2025). Interest coverage ratio significantly improved to 5.66x in H1FY25 from -0.11x in FY24.

⚙️ Operational Drivers

Raw Materials

Tea leaves (for tea division) and textile fibers/yarn (for textile division), both subject to commodity price volatility.

Capacity Expansion

Current capacity not specified in MT; however, the company recently reduced capacity by selling its Akbarpur textile unit and Tengapani Tea Estate to deleverage the balance sheet.

Raw Material Costs

Raw material costs are subject to commodity price volatility and vagaries of nature; tea production costs were impacted by inclement weather in FY25.

Manufacturing Efficiency

Engineering division reported healthy operating margins of 7-8% in FY25 due to efficient execution of existing orders.

📈 Strategic Growth

Expected Growth Rate

15%

Growth Strategy

Growth is driven by the Engineering division (MICCO), which has a healthy order book of INR 240 Cr as of June 30, 2025. The company is strategically shifting its revenue mix toward engineering and property leasing to reduce exposure to the volatile tea and textile markets.

Products & Services

Tea, textile yarn and fabrics, engineering products and services (MICCO), and rental space in Gillander House.

Brand Portfolio

Gillander House, MICCO.

Strategic Alliances

Part of the G.D. Kothari group, providing financial flexibility and access to group-level financing.

🌍 External Factors

Industry Trends

The tea industry is currently benefiting from price increases due to supply shortages, while the textile industry faces demand headwinds. The company is positioning itself toward infrastructure-linked engineering growth.

Competitive Landscape

Operates in highly fragmented and competitive markets for tea and textiles, with engineering being a more order-book-driven segment.

Competitive Moat

Moat is derived from a highly diversified revenue profile and an 80-year operational track record under the G.D. Kothari group, which provides a buffer against segment-specific downturns.

Macro Economic Sensitivity

Highly sensitive to agricultural weather patterns (impacting tea) and global commodity price cycles (impacting textiles).

Consumer Behavior

Reduced demand for textile products has recently forced the company to accept lower realizations, impacting division profitability.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to Government policies on tea and textiles, labor-intensive industry regulations, and the Sexual Harassment of Women at Workplace Act.