Pursuant to Regulation 30 & 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Board of Directors in their meeting held ....
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Standard Capital Markets' board approved unaudited standalone and consolidated results for Q3 FY26 and the nine months ended December 31, 2025. Standalone total income jumped to Rs. 5,837.59 lakhs in Q3 FY26 from Rs. 2,334.60 lakhs a year earlier, and for the 9-month period rose to Rs. 20,936.71 lakhs from Rs. 8,126.74 lakhs. The company swung from a net loss of Rs. 4,492.94 lakhs in Q3 FY25 to a net profit of Rs. 3,383.60 lakhs in Q3 FY26, with 9M FY26 profit at Rs. 345.10 lakhs versus a Rs. 3,742.70 lakhs loss last year. The auditor (Krishan Rakesh & Co.) issued a qualified conclusion on both sets of results, disagreeing with management's reclassification of a Rs. 420.19 crore debt from sub-standard to standard asset — the debt is undergoing CIRP proceedings at NCLT and is allegedly being sold to an Asset Reconstruction Company, a deal the auditor says is not yet concluded.
The headline turnaround from heavy losses to profit is positive, but the auditor's qualified opinion over the Rs. 420+ crore stressed asset is a significant red flag — if the ARC deal falls through, the asset will need to be reclassified and provisions raised, which could materially hit earnings. Shareholders should watch closely for closure of the ARC transaction.