Outcome of Board Meeting
Price
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The board of Shri Gang Industries approved the unaudited financial results for the quarter and nine months ended December 31, 2025. Revenue from operations rose about 24% year-on-year to ₹12,383.67 lakhs in Q3 FY26, helped by a one-time ₹3,213.62 lakh refund of state government duties from its liquor segment. Profit after tax jumped to ₹1,398.74 lakhs (vs ₹1,035.76 lakhs in Q3 FY25) and basic EPS came in at ₹7.49 (vs ₹5.78). However, on a nine-month basis, profit after tax fell sharply to ₹1,664.50 lakhs from ₹3,072.49 lakhs a year earlier. The board also approved an amendment to the company's Code of Fair Disclosure under SEBI's Insider Trading Regulations. Statutory auditor Pawan Shubham & Co. issued an unmodified limited review report.
Q3 numbers look strong on the surface, boosted by a one-time government duty refund and a swing in excise duty accounting, while the nine-month profit is nearly half of last year, suggesting underlying earnings pressure. Shareholders should note the company's reserves are negative (₹-879.68 lakhs) and that ₹742.50 lakhs in sweat equity was allotted to promoter Varun Gupta this quarter, which may dilute existing holders.