Un-audited Financial Results for the quarter ended on 31st December, 2025
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Lerthai Finance (formerly Marathwada Refractories) reported weak Q3 FY26 results with no revenue from operations and only Rs. 7.53 lakhs of other income, down sharply from Rs. 19.48 lakhs in Q3 FY25. Total expenses of Rs. 17.07 lakhs (mostly professional charges of Rs. 13.35 lakhs) pushed the company into a Q3 net loss of Rs. 9.54 lakhs, versus a profit of Rs. 2.31 lakhs a year ago. For the nine months ended December 2025, total income fell about 35% to Rs. 34.40 lakhs (from Rs. 53.09 lakhs), resulting in a net loss of Rs. 17.78 lakhs compared with a profit of Rs. 16.88 lakhs in the prior-year period; loss per share for 9M was Rs. 2.54. The balance sheet remains healthy with cash of nearly Rs. 693 lakhs, no debt, and total equity of Rs. 994 lakhs. The auditor issued an unmodified (clean) limited review report.
Continued losses and shrinking other income highlight that the company is struggling to cover even its lean cost base, which is negative for shareholder confidence. However, a strong cash pile and zero debt give it ample runway, so the stock price impact is likely limited unless losses persist for several more quarters.