Unaudited Financial Results for the quarter and nine months ended 31.12.2025
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Goodricke Group's Board approved its Q3 FY26 and nine-month (9M) unaudited results on 5 February 2026. Revenue from operations for Q3 FY26 came in at approximately Rs. 18.84 crore versus Rs. 21.17 crore in Q3 FY25, an ~11% year-on-year decline, while 9M FY26 revenue showed strong growth to roughly Rs. 69.74 crore versus Rs. 51.98 crore in 9M FY25. Profitability for the quarter and nine-month period was materially weaker year-on-year, partly impacted by a 5% drop in own tea crop due to unfavourable weather. The company booked an exceptional gain of Rs. 1,014 lacs from the sale of a tea estate in July 2025, and recognised Rs. 219 lacs as incremental employee cost from the new Labour Codes. Statutory auditor Deloitte Haskins & Sells LLP issued a qualified limited review report, flagging that the company's stock valuation method (based on estimated full-year cost) does not comply with Ind AS 2 – a recurring qualification from prior quarters.
Short term: The auditor's qualification on stock valuation is a negative governance signal and could weigh on investor sentiment, though the company has been following this practice historically. The exceptional estate sale boosted reported earnings for 9M FY26 but is a one-off; underlying Q3 profitability has weakened, suggesting margin pressure from lower crop volumes and rising wages despite higher 9M revenue.