The Board has approved IND-AS compliant standalone unaudited Financial Results along with Limited Review Report for the quarter ended on 31st December, 2025 pursuant to Regulation 33 of ....
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TPI India Limited's Board approved IND-AS compliant unaudited standalone financial results for Q3 FY26 (Dec 31, 2025) and nine months ended Dec 31, 2025. Revenue from operations for Q3 FY26 stood at Rs 892.60 lakhs, up from Rs 839.12 lakhs in Q3 FY25, with profit for the quarter at Rs 51.46 lakhs vs Rs 21.81 lakhs year-ago. For 9M FY26, revenue grew to Rs 2,415.32 lakhs (from Rs 2,209.20 lakhs) and PAT jumped to Rs 62.48 lakhs from Rs 11.38 lakhs. The auditor flagged a major concern: the company's net worth has been completely eroded as accumulated losses have exceeded share capital and reserves, yet results were prepared on a going concern basis. The auditor also drew attention to uncertainty around employee benefit liabilities under the new Labour Codes notified from Nov 21, 2025, and noted that deferred tax assets were not recognized due to uncertainty over future taxable income.
While quarterly profits have improved sharply, the completely eroded net worth and going concern uncertainty are serious red flags for shareholders. The stock carries significant fundamental risk despite the apparent profit growth, which is coming off a very low base.