Shivalik Rasayan Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
SHIVALIK · price
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Shivalik Rasayan reported a weak Q3 FY26 with standalone net sales falling 12.5% YoY to Rs. 3,512.90 lakhs (vs Rs. 4,016.39 lakhs in Q3 FY25) and dropping 24.7% sequentially from Q2 FY26. Standalone net profit for the quarter nearly halved to Rs. 203.49 lakhs from Rs. 401.59 lakhs a year ago. On a 9-month basis, standalone revenue still grew 17% to Rs. 12,806.44 lakhs, but profit before tax fell 32% to Rs. 682.47 lakhs and net profit dropped 48% to Rs. 544.63 lakhs, reflecting sharp margin compression. Consolidated numbers were similar — Q3 net profit (controlling interest) fell to Rs. 269.63 lakhs from Rs. 527.21 lakhs YoY, even as 9M consolidated revenue rose 9.4% to Rs. 26,518.75 lakhs. The API segment continued to drag with a loss of Rs. 848.57 lakhs in 9M FY26. Auditor Rahul Chaudhary & Associates issued an unqualified limited review report.
Negative near-term sentiment is likely as Q3 shows clear revenue and profit deterioration with widening margin pressure, despite decent 9M topline growth. Shareholders should watch whether the Q3 weakness is a one-off or the start of a deeper slowdown, particularly given continued losses in the API segment and rising depreciation costs.