Outcome of Board meeting held on 13.02.2026
Price
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Awaiting price reaction for this filing.
The board approved unaudited financial results (standalone and consolidated) for Q3 FY26 and nine months ended December 31, 2025. On a standalone basis, revenue fell sharply to ₹276.34 lakhs (9M FY26) from ₹851.91 lakhs (9M FY25), a decline of about 68%, and the company swung to a net loss of ₹82.73 lakhs versus a profit of ₹9.69 lakhs a year ago. On a consolidated basis, revenue grew about 31% to ₹3,731.56 lakhs (9M FY26) from ₹2,847.26 lakhs (9M FY25), driven by subsidiaries VSR Paper & Packaging (55% held) and the recently acquired Craftsmart Products (100% held). Consolidated net profit for 9M FY26 was ₹67.49 lakhs versus ₹83.68 lakhs in 9M FY25, a decline of about 19%. Paid-up equity capital rose to ₹1,797.19 lakhs from ₹1,200 lakhs due to the share-swap acquisition of Craftsmart Products. The limited review report by M M Reddy & Co. is unqualified with no qualifications or emphasis of matter.
The standalone business is clearly shrinking and loss-making, while the consolidated picture benefits from subsidiaries. Mixed signals — improving group-level top line but pressure on bottom line and a weak standalone core — may keep the stock volatile and put the focus on whether subsidiaries can offset the standalone decline.