To consider and aprrove unaudted financal results for the quarter ended 31st December, 2025
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Apollo Ingredients Ltd's Board approved unaudited financial results for Q3 FY26 (quarter ended 31 December 2025), along with the Limited Review Report from auditor M/s DMKH & Co, which contained no qualifications. Revenue from operations for Q3 stood at ₹276.76 lakhs, a sharp jump from ₹56.56 lakhs in Q2 FY26 and ₹108.92 lakhs in Q3 FY25. Profit after tax for the quarter was ₹86.70 lakhs versus ₹2.43 lakhs in the previous quarter and ₹13.56 lakhs a year ago. On a year-to-date basis (9M FY26), revenue rose to ₹389.58 lakhs from ₹238.49 lakhs last year, and the company swung from a loss of ₹5.92 lakhs to a profit of ₹86.03 lakhs. The Board also noted a Monitoring Agency observation that ₹3 crore of rights issue proceeds were used towards a factory lease from a related party (Apollo Ingredients India Private Limited), which deviated from the original objects of the rights issue, though member approval for this lease had been obtained on 27 September 2025.
The results show a strong operational turnaround with revenue more than doubling year-on-year and the company returning to profitability after a prior-year loss, which is positive for shareholders. However, the deviation in use of rights issue proceeds for a related-party lease transaction is a corporate governance red flag that may attract regulatory or shareholder scrutiny despite having prior member approval.