Unaudited Financial Results for the Quarter and Nine Months Ended 31st December, 2025.
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Polyspin Exports, an FIBC (bulk bag) manufacturer, reported a weak Q3 FY26 on a sequential basis. Standalone Q3 revenue from operations fell about 1.5% year-on-year to Rs. 5,379.25 lakhs (vs Rs. 5,460.60 lakhs in Q3 FY25), while standalone Q3 profit after tax from continuing operations nearly doubled to Rs. 60.60 lakhs (vs Rs. 30.86 lakhs) on a lower tax outgo. For nine months FY26, standalone revenue grew about 3% to Rs. 17,002.53 lakhs and standalone PAT rose modestly to Rs. 339.69 lakhs. On a consolidated basis, nine-month total PAT jumped roughly 54% to Rs. 506.70 lakhs, aided by a strong Rs. 178.21 lakhs share of profit from its Sri Lankan associate Lankaspin. EBITDA and PBT margins both compressed year-on-year in Q3 and 9M, and Q3 PAT fell sharply from Rs. 164.94 lakhs in Q2 FY26, reflecting sequential pressure. Auditors (Krishnan and Raman) issued an unmodified limited review report.
Sequential earnings deterioration and margin compression in Q3 may weigh on the stock in the near term, but strong consolidated PAT growth driven by the Sri Lankan associate and continued FIBC revenue growth provide some support. Investors should watch for sustained margin recovery in Q4.