Results-Financial Results for Dec 31, 2025
GNRL · price
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Gujarat Natural Resources Limited (GNRL) reported a sharp turnaround in Q3 FY26. Standalone profit after tax (PAT) came in at ₹326.63 lakhs versus a loss of ₹172.40 lakhs in Q3 FY25, while standalone revenue from operations surged to ₹212.10 lakhs from just ₹5.10 lakhs a year ago. However, the standalone profit was supported by a sizeable other income of ₹187.16 lakhs in the quarter. On a consolidated basis, PAT was ₹307.48 lakhs against a loss of ₹259.25 lakhs YoY, with nine-month consolidated revenue rising about 23% to ₹1,932.54 lakhs. The company also booked a one-time purchase of stock-in-trade of ₹1,253.53 lakhs, reflecting trading activity. The statutory auditor issued an unmodified limited review report with no qualifications.
The swing from loss to profit is positive for shareholders, but most of the standalone bottom-line boost comes from non-operating 'other income' rather than core operations, so the quality of earnings is mixed. Investors should also note the 2.5 crore convertible warrants allotted in May 2025, which could lead to equity dilution if exercised.