Platinum Industries Limited has informed the Exchange about Proposed Incorporation of Subsidiary.
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Platinum Industries' board approved the incorporation of a new subsidiary called 'Rivadu Lifesciences Private Limited' in the pharma/lifesciences space, marking a diversification move beyond its current specialty chemicals business. The new unit will handle pharmaceuticals, APIs, intermediates, excipients and specialty chemicals, with an initial capital of up to Rs. 25 lakhs and Platinum holding at least 70% of the stake. The company also announced its Q3 FY26 results, posting consolidated revenue of Rs. 1,046.68 million (up about 12% YoY) and profit after tax of Rs. 123.28 million (up about 7% YoY). However, 9-month FY26 consolidated PAT of Rs. 363.87 million was lower than Rs. 437.88 million in the same period last year. The auditor issued a qualified opinion due to uncertainty around an insurance receivable of Rs. 98.19 million related to a July 2025 fire at subsidiary M/s Platinum Polymers and Additives.
The new subsidiary signals a strategic push into pharma, which could open a fresh growth avenue, though the small initial capital means material contribution to earnings is likely years away. Investors should note the YoY decline in 9-month profits, partly due to the fire incident, and the auditor's qualified opinion adds some uncertainty until the insurance claim is settled.