In terms of the Provisions of Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose the following statements for the quarter ended ....
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Sugal & Damani Share Brokers Ltd reported a sharp quarter-on-quarter and year-on-year drop in Q3 FY26 (quarter ended Dec 31, 2025) results. Revenue from operations fell to Rs 214.85 lakhs from Rs 611.45 lakhs in Q3 FY25 (about 65% YoY decline) and Rs 587.62 lakhs in Q2 FY26. Net profit for the quarter dropped to Rs 16.37 lakhs (EPS Rs 0.26) versus Rs 60.80 lakhs (EPS Rs 0.97) a year ago. The slump is driven by the Real Estate segment, where revenue collapsed to Rs 161.60 lakhs from Rs 562.36 lakhs, and the segment swung to a loss of Rs 36.38 lakhs at the PBT level. The Stock Broking segment remained stable and actually grew, with Q3 PBT rising to Rs 57.75 lakhs from Rs 36.91 lakhs. For the nine-month period, the picture is better: revenue fell to Rs 1,418.86 lakhs but net profit improved to Rs 351.59 lakhs (EPS Rs 5.63) from Rs 312.08 lakhs (EPS Rs 4.99), thanks to lower Land Development and inventory costs. The auditor issued an unqualified limited review report with no qualifications or concerns flagged.
Mixed signals for shareholders: the sharp Q3 Real Estate weakness is a concern and may pressure the stock in the near term, but stable broking profits and improved nine-month earnings suggest the underlying business is still profitable. Investors should watch whether the real estate slowdown is temporary or structural.