PPAP Automotive Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
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On the reaction day the stock moved 11.9 pts more than Nifty Microcap 250 and 11.5 pts more than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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PPAP Automotive submitted its unaudited Q3 FY26 results (quarter and nine months ended December 31, 2025) along with a major divestment announcement. On a standalone basis, revenue from operations fell to Rs. 128.65 crore in Q3 (down ~5% YoY from Rs. 135.34 crore) and Rs. 372.83 crore for 9M FY26 (down ~5.7% from Rs. 395.32 crore). Net profit dropped sharply to Rs. 0.79 crore in Q3 (from Rs. 3.33 crore YoY) and Rs. 2.36 crore for 9M FY26 (from Rs. 10.31 crore). On a consolidated basis, the company swung to a net loss of Rs. 2.25 crore in 9M FY26 versus a profit of Rs. 4.58 crore last year, dragged by subsidiary losses. The company also completed the sale of its 50% stake in joint venture PPAP Tokai India Rubber Pvt Ltd (PTI) to partner Tokai Kogyo Co. Ltd for Rs. 100 crore cash. PTI contributed nothing to turnover but represented 12.49% of net worth (Rs. 35.96 crore). Auditor T R Chadha & Co LLP issued an unmodified review opinion.
The weak operating performance, especially the sharp YoY fall in profits and a consolidated loss, is likely to weigh negatively on the stock. However, the Rs. 100 crore cash inflow from the PTI divestment strengthens the balance sheet and provides future growth capital, which may partially offset the earnings disappointment.