Outcome of Board Meeting - Financial Results along with Statement of Deviation
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Garnet International's board, meeting on February 14, 2026, approved unaudited standalone and consolidated financial results for Q3 FY26 (quarter ended December 31, 2025) and the nine-month period of FY26. On a standalone basis, total revenue from operations for the nine months rose to about ₹373.5 lakh versus ₹250.5 lakh in the same period last year, while profit for the period swung to ₹328.0 lakh from a loss of ₹5.5 lakh. The big jump was helped by a net gain on fair value changes of ₹362.2 lakh. On a consolidated basis, nine-month revenue from operations was ₹425.4 lakh (down from ₹545.0 lakh), but profit jumped to ₹420.0 lakh from ₹114.6 lakh, aided by share of profits from its associate company (₹95.5 lakh) and fair value gains. The auditor (Sarda Soni Associates LLP) issued an unmodified review report for both results, noting only that some trade receivables, deposits and payables are pending confirmation. The company also submitted a deviation statement for its ₹35.37 crore preferential warrant issue, confirming no deviation in use of funds, with about ₹8.84 crore received so far and largely used for strategic investments.
The headline profit surge is mainly driven by mark-to-market gains and associate-company profits rather than core operating revenue, so shareholders should treat the jump as non-recurring in nature. On the positive side, the company has reported no deviation in the use of preferential issue funds and the auditors gave a clean review, with no going-concern flags.