Kalyani Investment Company Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
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Kalyani Investment Company, a Kalyani Group investment holding entity, reported Q3 FY26 standalone profit after tax of ₹30.98 million, recovering from a loss of ₹8.02 million in Q3 FY25. For the nine months ended December 31, 2025, standalone PAT came in at ₹361.64 million versus ₹380.77 million a year ago, a mild ~5% decline. Total income for the quarter was ₹65.43 million, driven mainly by interest on fixed deposits (₹50.84 million) since dividend income was nominal this quarter (₹25.38 million) after a large ₹410.81 million dividend inflow in Q2 FY26. On the consolidated side, 9M FY26 PAT dropped sharply to ₹174.60 million from ₹458.69 million in 9M FY25, hurt by a loss of ₹198.20 million share from associate Hikal Limited. The auditor (PG Bhagwat LLP) issued an unqualified limited review but drew attention to pending environmental investigations against Hikal Limited (31.36% associate) and a related Supreme Court matter, as well as Labour Codes implementation impacting Hikal as an exceptional item.
The results are mixed for shareholders: standalone earnings are stable but consolidated profits are sharply lower due to associate Hikal's losses and environmental/legal overhang. The Hikal-related uncertainties and the ₹119 million-plus exceptional item at the associate level remain key risks to watch, even as large fair-value gains on equity investments (₹15,610 million in OCI this quarter) continue to support the company's net worth.