Attached herewith Unaudited Financial Results for quarter ended 31st December 2025
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Mangalam Industrial Finance Ltd (a non-deposit-taking NBFC) reported Q3 FY26 standalone unaudited results. Revenue from operations fell to Rs. 80.39 lakhs from Rs. 94.26 lakhs YoY (~15% decline), and 9M revenue from operations slipped to Rs. 262.79 lakhs from Rs. 272.48 lakhs. Total income in Q3 jumped to Rs. 545.25 lakhs because of a large 'Other Income' of Rs. 464.86 lakhs, which was almost entirely offset by a 'Business Referral Commission' of Rs. 464.49 lakhs booked under expenses — the two largely cancel out. Net profit collapsed to just Rs. 1.10 lakhs in Q3 vs Rs. 42.78 lakhs YoY, and 9M PAT declined ~33% to Rs. 75.89 lakhs from Rs. 112.78 lakhs. The Company has negative other equity (reserves) of Rs. (6,674.51) lakhs, meaning accumulated losses exceed reserves, and it completed a 1:2 Rights Issue of ~46.34 crore equity shares at Re.1 each in December 2025, lifting paid-up capital from Rs. 96.16 crores to Rs. 142.51 crores. EPS for prior periods has been restated to reflect the bonus element of this rights issue.
Sharp fall in core profitability — the headline-grabbing other income and matching commission cancel out, leaving near-zero Q3 operating profit. Negative reserves and the auditor's flagged note about additional loan disbursements despite prior EMI delays are concerning credit-quality signals; sentiment for the stock is likely to remain weak.