Financial Results
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Smruthi Organics Limited reported a sharp decline in quarterly revenue but improved profitability for the nine-month period. Q3 FY26 revenue from operations fell to ₹2,229.11 lakhs from ₹3,124.97 lakhs in Q3 FY25, a drop of about 29% year-on-year. Net profit for the quarter stood at ₹139.79 lakhs versus ₹148.07 lakhs, slightly lower. For the nine months ended December 2025, revenue declined to ₹7,287.84 lakhs from ₹8,791.34 lakhs, but net profit jumped nearly 77% to ₹235.87 lakhs from ₹133.28 lakhs, supported by lower raw material costs. The company booked a one-time exceptional expense of ₹45.17 lakhs towards gratuity due to the new Labour Codes. The Formulation segment continued to post losses (₹32.21 lakhs for 9M FY26). Statutory auditors Gokhale & Sathe issued an unqualified limited review report.
Mixed signals for shareholders: weak quarterly top-line may pressure the stock in the short term, but strong nine-month profit growth and improving margins could provide support. The recurring losses in the Formulation division remain a concern, while the Labour Code impact is a one-off and unlikely to affect future quarters.