Outcome of the Board Meeting held on Thursday, 05th February, 2026 and submission of Standalone Un-Audited Financial Results for the Third Quarter and Nine Months ended on 31st December, 2025.
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Deep Polymers' board approved standalone unaudited results for Q3 and 9M FY26 (ended Dec 31, 2025). Q3 revenue from operations stood at Rs. 2,101.91 lakhs, down ~6.7% YoY from Rs. 2,253.92 lakhs and down sharply ~18.4% from the previous quarter (Rs. 2,575.01 lakhs). 9M revenue declined ~4% to Rs. 7,216.93 lakhs. Profit after tax for Q3 fell ~40% YoY to Rs. 83.09 lakhs, and 9M PAT dropped ~16% to Rs. 401.88 lakhs. Finance costs surged nearly threefold YoY in Q3 (Rs. 50.22 lakhs vs Rs. 16.79 lakhs). The auditor (S.N. Shah & Associates) issued a qualified opinion for the 4th consecutive time, flagging Rs. 166.72 lakhs of unrecovered trade receivables (under legal action but unprovided for) and non-restatement of foreign currency items under Ind-AS-21. If adjusted, the company would swing to a loss of Rs. 83.63 lakhs for the quarter. The Hajipur segment continues to post losses (Rs. 46.33 lakhs in Q3, Rs. 187.46 lakhs in 9M).
Negative for shareholders — revenues and profits are shrinking, finance costs are ballooning, and recurring auditor qualifications reveal weak receivables management and Ind-AS compliance gaps. The adjusted numbers turning the quarter into a loss raise red flags about earnings quality, and the persistent Hajipur segment losses suggest structural issues that could weigh on the stock.