Standalone and Consolidated Financial Results for 3rd quarter and nine months ended 31.12.2025
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Makers Laboratories reported Q3 FY26 standalone revenue from operations of Rs 1,270.49 lakhs, up about 34% from Rs 945.09 lakhs in Q3 FY25. However, standalone remained in loss with a Q3 PAT of Rs (17.22) lakhs versus Rs (77.09) lakhs a year ago, and a 9M FY26 PAT of Rs (75.61) lakhs versus a profit of Rs 604.29 lakhs in 9M FY25 — the prior year included a one-time Rs 1,010 lakhs gain on sale of property, plant and equipment, so figures are not directly comparable. On a consolidated basis, Q3 revenue rose about 29% YoY to Rs 3,566.76 lakhs and 9M revenue grew about 39% to Rs 12,075.12 lakhs, driven by strong contributions from subsidiary Resonance Specialties (Chemical Manufacturing segment). Consolidated 9M PAT after non-controlling interests stood at Rs 932.67 lakhs versus Rs 1,090.75 lakhs. The statutory auditors (N V C & Associates LLP, formerly Natvarlal Vepari & Co LLP) issued an unmodified limited review report on both sets of results.
For shareholders, the standalone business is still loss-making at the operating level, but quarterly losses are narrowing and revenue is growing. The consolidated picture is healthier thanks to the profitable subsidiary, though the headline 9M PAT decline reflects a high prior-year base distorted by a one-time asset sale rather than core weakness. Investors should focus on underlying core revenue growth and the Chemical Manufacturing segment performance going forward.