Un-audited Financial Results for the quarter and nine months ended 31st December, 2025
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On the reaction day the stock moved 3.1 pts less than Nifty Microcap 250 and 2.5 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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For Q3 FY26 (standalone), revenue from operations rose about 6% YoY to Rs 6,463 lakhs, while nine-month revenue grew about 10.6% to Rs 18,844 lakhs. However, profitability fell sharply: Q3 standalone profit after tax dropped roughly 59% YoY to Rs 245 lakhs, and nine-month PAT declined about 25% to Rs 945 lakhs. The core Colorants & Chemicals segment saw revenue dip about 9% YoY in the quarter, while the smaller Inkjet Printers segment grew from a low base but remained loss-making for the nine months. Pre-tax profit margin compressed to around 5.3% in Q3 versus about 12% a year ago, partly due to an extra Rs 102 lakh provision tied to India's new labour codes. The Board also approved redemption of Rs 600 lakh worth of 2% preference shares on 31 March 2026.
Revenue growth looks healthy on the surface, but the steep fall in profits and clear margin compression are negatives for shareholders and likely to weigh on near-term stock sentiment. The preference share redemption is a routine capital action and not a meaningful value driver.