please find enclosed the results for the quarter ended December 31, 2025
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Duncan Engineering reported standalone unaudited results for Q3 FY26 and nine months ended December 31, 2025. Q3 revenue from operations stood at Rs. 1,962.33 lakhs, marginally lower than Rs. 1,997.77 lakhs in the year-ago quarter but up from Rs. 1,822.41 lakhs in Q2 FY26. For the nine-month period, revenue declined about 13% YoY to Rs. 5,585.39 lakhs from Rs. 6,417.23 lakhs. Q3 profit after tax came in at Rs. 102.99 lakhs (vs Rs. 69.82 lakhs in Q3 FY25, a ~47% jump), but 9M FY26 PAT fell roughly 32% YoY to Rs. 267.82 lakhs from Rs. 395.90 lakhs. The statutory auditor (S S Kothari Mehta & Co. LLP) issued an unmodified (clean) limited review opinion. The company also disclosed that it has incorporated a wholly-owned subsidiary in Saudi Arabia during the quarter, which has not yet begun operations and had no impact on these results.
Weak nine-month revenue and profit trends, combined with margin pressure, are likely to be viewed negatively by investors. The clean audit opinion and a small sequential recovery in Q3 PAT provide some reassurance, but the absence of consolidated numbers (due to the new inactive Saudi subsidiary) limits full visibility into the group's trajectory.