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Shri Gang Industries has informed BSE that it published its unaudited financial results for Q3 FY26 (Oct–Dec 2025) and nine months ended December 31, 2025 in the Financial Express (English) and Jansatta (Hindi) newspapers, as required by SEBI listing rules. For Q3, total income rose to Rs 12,390.88 lakh (vs Rs 9,966.85 lakh, up ~24%) and net profit after tax grew to Rs 1,398.74 lakh (vs Rs 1,035.76 lakh, up ~35%), with basic EPS at Rs 7.49 (vs Rs 5.78). However, nine-month profit after tax fell sharply to Rs 1,664.50 lakh from Rs 3,072.49 lakh, a ~46% YoY decline, despite revenue inching up to Rs 29,744.94 lakh. The company flagged two notable items: Rs 3,213.62 lakh received as a state government duty refund for its liquor segment in Q3, and Rs 742.50 lakh in sweat equity allotted to promoter Mr. Varun Gupta during the quarter. Results were reviewed by the Audit Committee and approved by the Board on February 14, 2026.
The Q3 numbers look strong on the surface but are significantly inflated by a one-time government duty refund of about Rs 32 crore; excluding it, revenue and profit would be materially lower. The steep drop in nine-month profit signals underlying weakness in the liquor and edible oil businesses. The sweat equity allotment to a promoter is a governance point shareholders should note.