Outcome of Board Meeting under Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")
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Nalwa Sons Investments, a part of the OP Jindal Group, announced its Q3 FY26 results on February 13, 2026. Standalone profit after tax for the quarter was Rs 500.90 lakhs, down from Rs 578.70 lakhs in Q3 FY25, while for the nine months ended December 2025 it fell to Rs 4,253.77 lakhs from Rs 5,949.40 lakhs, a drop of roughly 28%. Total income for the nine months slipped to Rs 5,963.39 lakhs from Rs 8,032.63 lakhs, mainly because dividend income halved to Rs 3,437.34 lakhs. On a consolidated basis, nine-month PAT was Rs 5,118.21 lakhs versus Rs 7,243.39 lakhs last year. The company also booked a small Rs 2.36 lakh exceptional charge related to the new Indian Labour Codes (gratuity provision). However, fair-value changes on equity investments caused a large negative swing in Other Comprehensive Income, dragging nine-month Total Comprehensive Income into a loss of Rs 47,570.96 lakhs standalone and Rs 35,066.95 lakhs consolidated. The auditor (N.C. Aggarwal & Co.) issued an unmodified limited review report on both sets of results.
Earnings are clearly weaker year-on-year due to sharply lower dividend income, which is a key negative for shareholders. The big OCI loss reflects mark-to-market declines in the company's investment portfolio, which is the core of its business, so net worth has likely shrunk even though reported profit remains positive. Short-term stock sentiment may be negative, but the underlying operating profitability is still intact.