This is to inform you that the Board of Directors of Saffron Industries Limited, at its meeting held on 11th February, 2026, has inter alia considered, discussed and approved the unaudited ....
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On the reaction day the stock moved 5.5 pts more than Nifty Microcap 250 and 5.3 pts more than its Paper & Paper Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Saffron Industries reported standalone revenue from operations of Rs 152.45 lakhs for Q3 FY26, nearly doubling from Rs 81.83 lakhs a year ago. Nine-month revenue rose about 84% to Rs 544.64 lakhs versus Rs 296.53 lakhs in the prior-year period. Profit after tax for 9 months swung to a positive Rs 98.43 lakhs from a loss of Rs 10.45 lakhs, while Q3 PAT jumped to Rs 83.63 lakhs from Rs 23.75 lakhs. The improvement was driven entirely by the Real Estate Development segment (Rs 322.11 lakhs segment profit for 9M), while the Paper Manufacturing segment deepened its losses to Rs -223.68 lakhs. Property, Plant & Equipment collapsed from Rs 276.07 lakhs to just Rs 0.78 lakhs, and the company's net worth remains deeply negative at Rs -878.30 lakhs.
The headline turnaround looks strong on the surface, but it is almost entirely propped up by the Real Estate segment while the core Paper business bleeds. The deeply negative net worth raises serious going-concern flags for shareholders despite the auditor issuing an unmodified limited review.