APPROVAL OF UN AUDITED FINANCIALS FOR THE THIRD QUARTER ENDED DECEMBER 31, 2025
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Integrated Thermoplastics Ltd, a UPVC pipes manufacturer, reported Q3 FY26 standalone revenue of Rs. 1,242.42 lakhs, marginally lower than Rs. 1,246.76 lakhs in the year-ago quarter. Profit after tax for the quarter stood at Rs. 108.69 lakhs (EPS Rs. 1.73), a sharp drop from Rs. 591.91 lakhs (EPS Rs. 9.64) in Q3 FY25. The previous quarter (Q2 FY26) had actually posted a loss of Rs. 614.37 lakhs, indicating highly volatile and weak profitability. The balance sheet remains deeply stressed with negative other equity of Rs. (6,551.52) lakhs, meaning accumulated losses far exceed share capital. Non-current borrowings rose to Rs. 3,782.06 lakhs from Rs. 3,114.06 lakhs. Cash flow from operating activities was negative. The auditor (Grandhy & Co.) issued an unmodified limited review opinion.
Despite a small quarterly profit, the company's balance sheet is severely distressed with massive accumulated losses wiping out shareholder equity, high debt, and negative operating cash flows — raising serious going concern concerns for retail investors despite the clean auditor report.