Jindal Photo Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
JINDALPHOT · price
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Jindal Photo Limited reported weak standalone Q3 FY26 results with total income of just Rs 65 lakhs (vs Rs 1,095 lakhs in Q2 FY26), posting a loss before tax of Rs 88 lakhs and a loss after tax of Rs 85 lakhs (EPS of Rs -0.83). For the 9-month period, standalone PAT turned positive at Rs 489 lakhs compared to a loss of Rs 774 lakhs in the prior year period. On a consolidated basis, Q3 showed a steep loss of Rs 11,694 lakhs (EPS Rs -114), dragged down by a share of loss of Rs 11,601 lakhs from associate Jindal India Powertech Limited, though 9M consolidated loss narrowed sharply to Rs 713 lakhs. A major non-recurring item: post-demerger of JIPTL's power business into Jindal India Power Limited (effective Nov 12, 2025), the company received 9.89 crore equity shares of JIPL and recognized a fair value gain of Rs 91,287 lakhs in Other Comprehensive Income. The auditor flagged an emphasis of matter regarding non-provision for doubtful loans and amounts recoverable from joint venture Mandakini Coal Company Limited (MCCL), totaling Rs 5,132 lakhs paid under a corporate guarantee plus Rs 537 lakhs in loans.
The headline Rs 91,287 lakh fair value gain from the JIPTL demerger flows through reserves (OCI) rather than profit, so it boosts net worth but not distributable profit. The auditor's emphasis of matter on MCCL recoverability is a continuing risk, and the consolidated Q3 loss highlights dependence on associate performance. Shareholders should watch the MCCL litigation outcome and valuation of the newly received JIPL shares.