Unaudited Financial Results with Limited Review Report for Quarter and Nine Month ended-31.12.2025
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Awaiting price reaction for this filing.
Cosco (India) reported Q3 FY26 revenue from operations of ₹4,849 lakhs, up about 19% year-on-year from ₹4,084.54 lakhs, with net profit of ₹90.47 lakhs versus ₹36.36 lakhs in Q3 FY25. However, the nine-month picture is weak — total income rose modestly to ₹13,621.80 lakhs (from ₹12,819.08 lakhs), while net profit collapsed to just ₹2.35 lakhs from ₹209.40 lakhs a year ago, a near 99% drop. EBITDA margins also visibly compressed versus the prior nine-month period, pointing to rising cost pressures despite revenue growth. The statutory auditor (Madan & Associates) gave an unmodified review opinion but flagged emphasis-of-matter notes on GST input tax credit reconciliation (₹154.37 lakhs), management-certified inventory, provisions and missing internal audit reports for all three quarters. Contingent liabilities of ₹103.47 lakhs are disclosed as sub-judice claims.
Near-term quarterly momentum looks decent on revenue and Q3 profit, but the sharp slump in cumulative nine-month PAT signals serious margin pressure that may weigh on the stock despite the topline growth. Investors should watch whether Q4 can restore full-year profitability given the auditor's flagged concerns around inventory certification and unverified internal audits.