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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The Board approved unaudited standalone and consolidated financial results for Q3 and 9MFY26 (quarter ended December 31, 2025). On a standalone basis, the company has essentially zero revenue from operations (only Rs 28.28 lakhs of other income in Q3) as the legacy agro commodities and steel abrasites trading businesses have wound down. Standalone net loss widened sharply to Rs 877.06 lakhs in Q3 (vs Rs 17.41 lakhs in Q2), largely because Rs 361.12 lakhs of previously recognized deferred tax assets were written off due to uncertainty around future taxable profits. On a consolidated basis, Q3 revenue grew to Rs 6,359.52 lakhs (vs Rs 4,588.15 lakhs in Q2), driven entirely by the wine subsidiary (Fratelli Wines Pvt Ltd), but 9M revenue fell about 46% YoY to Rs 14,598.34 lakhs. Consolidated net loss for 9M stood at Rs 1,785.73 lakhs. The Board also appointed Mr. Sanjay Kumar Jain (Chartered Accountant with 36 years experience in corporate finance and liquor/wine sector advisory) as Additional Non-Executive Independent Director for a 5-year term, and he was made Chairperson of the reconstituted Audit Committee. The auditor (S S Kothari Mehta & Co LLP) issued an unmodified limited review report.
The standalone entity is now a shell with all operations routed through the wine subsidiary, which itself is loss-making at the 9-month level. Shareholders should note the continued net losses, sharp YoY revenue contraction, and the deferred tax write-off signaling management's own doubts about near-term profitability. The new Independent Director's strong wine and liquor industry background could be positive for strategic direction, but near-term earnings outlook remains weak.