Considered and approved the unaudited financial results for the quarter ended on December 31, 2025
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Ahmedabad Steelcraft reported Q3 FY26 revenue from operations of Rs 6,190.11 lakhs, down about 9% from Rs 6,815.23 lakhs in Q3 FY25. For the nine months ended December 2025, revenue rose sharply to Rs 16,925.37 lakhs from Rs 10,698.35 lakhs in the same period last year, an increase of roughly 58%. Profit after tax for the nine months stood at Rs 1,543.25 lakhs, more than double the Rs 721.48 lakhs earned in 9M FY25, though quarterly PAT fell to Rs 460.51 lakhs from Rs 568.59 lakhs YoY. The auditor (Prateek Gupta & Co.) issued an unqualified limited review report with no qualifications or emphasis of matter. The board also approved shifting the corporate office from Ghaziabad to Noida and noted that all 1.1 crore warrants issued at Rs 72 have been converted into equity shares.
Strong nine-month revenue and profit growth is positive for shareholders, but the sequential and year-on-year decline in Q3 numbers and thin trading margins suggest the business is highly dependent on deal timing. Share dilution from the full warrant conversion is now complete, so no further equity overhang is expected.