The Board of Directors of the Company has, in its meeting held today i.e. on Friday, February 13, 2026 ('said meeting') inter alia considered and approved the Unaudited Standalone and Consolidated ....
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The board approved unaudited Q3 FY26 (quarter ended Dec 31, 2025) and 9M FY26 results on Feb 13, 2026. Revenue from operations for Q3 FY26 stood at Rs 219.61 lakh versus nil in Q3 FY25, while 9M FY26 revenue rose to Rs 349.61 lakh from Rs 22.45 lakh in 9M FY25. However, the bulk of the quarter's income came from 'other income' of Rs 729.63 lakh, lifting total income to Rs 949.24 lakh. Profit after tax for Q3 jumped to Rs 681.89 lakh (from Rs 42.38 lakh) and 9M PAT rose to Rs 974.98 lakh (from Rs 114.83 lakh), translating to an EPS of Rs 11.06 for the quarter. The auditor (S N Shah & Associates) flagged a significant Emphasis of Matter: nearly 84% of total assets (Rs 140.27 crore) are capital contributions to five partnership firms and a subsidiary, with Rs 127.47 crore lent onward to director-related entities, and a Rs 13.19 crore real estate advance unrecovered (EOW complaint filed May 2025).
Headline profit growth looks spectacular but is largely driven by other income on a very small revenue base, and a large portion of the company's assets sit in related-party-linked partnership firms with material recovery risk flagged by the auditor. Shareholders should treat the strong PAT figures with caution until the recoverability of these investments is clarified.