Unaudited Financial Results for the third quarter and nine months ended 31.12.2025 is enclosed
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Axel Polymers reported weak Q3 FY26 results with revenue from operations falling to Rs 885.69 lakhs, down about 20% from Rs 1,111.09 lakhs in Q3 FY25. For the nine-month period, revenue dropped sharply to Rs 3,127.54 lakhs versus Rs 6,722.49 lakhs in the same period last year, a decline of roughly 53%. The company continued to post losses, with a Q3 loss of Rs 62.05 lakhs and a nine-month loss of Rs 56.95 lakhs, though the loss narrowed compared to the prior year. The auditor (Mukund & Rohit) issued a clean limited review report but separately flagged that GST authorities have issued a show cause notice alleging wrongful Input Tax Credit claims, proposing reversal of ITC of about Rs 31.57 crore along with interest and penalty.
The steep revenue decline and ongoing losses are concerning for shareholders, while the Rs 31.57 crore GST demand is nearly equal to the company's full-year revenue and could materially hurt its financial position if upheld. This is a high-risk filing that investors should track closely.