Outcome of Board meeting held on 13.02.2026.
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The board approved standalone and consolidated unaudited results for Q3 and nine months ended 31.12.2025. Standalone revenue from operations was Rs 33.21 lakh for the quarter (up modestly from Rs 32.17 lakh a year ago) and Rs 102.24 lakh for 9M (vs Rs 95.77 lakh). Standalone net loss for the quarter was Rs 15.72 lakh and for 9M Rs 58.89 lakh, an improvement from Rs 76.04 lakh loss a year ago. The standalone business continues to spend far more than it earns, with total expenses of Rs 165.20 lakh against Rs 106.34 lakh income over 9M. On a consolidated basis, the picture swings due to associate Malwa Chemtex Udyog, contributing Rs 1,072.55 lakh loss in Q3 but Rs 589.94 lakh profit for 9M, turning 9M consolidated bottomline to a Rs 531.05 lakh profit.
Standalone operations remain loss-making and the core business earns too little to cover its costs, which is negative for long-term shareholders. Large dependence on associate earnings makes consolidated results volatile. Separately, CFO Verinder Kumar Sood resigned for personal reasons and was replaced by chartered accountant Gourav Kumar without any remuneration, raising a minor governance flag.