Unaudited Financial Results for the Quarter ended December 31, 2025.
Awaiting price reaction for this filing.
Carnation Industries reported a weak Q3 FY26 with revenue from operations appearing negligible and total income of just Rs. 24.16 lakhs (all from other income), versus Rs. 233.84 lakhs for the prior-year period. The company posted a net loss of Rs. 53.70 lakhs for the quarter and Rs. 88.78 lakhs for nine months FY26, compared to a profit of Rs. 191.91 lakhs in the same nine-month period last year. Loss per share stood at Rs. 2.57 for 9M FY26 versus earnings of Rs. 5.55 earlier. The auditor (Jain Saraogi & Co LLP) flagged several compliance matters, including past borrowings exceeding Section 180(1)(c) limits without prior shareholder approval and loans/investments of Rs. 905.59 lakhs breaching Section 186(2), both later regularised in September 2025. The company also continued its post-NCLT restructuring, writing back liabilities of Rs. 233.84 lakhs and writing off assets of Rs. 35.16 lakhs in FY24-25.
Shareholders should view this negatively — the company swung from profit to loss, revenues have collapsed, and there are unresolved compliance and corporate governance flags from the auditor. However, the company is making strategic acquisitions (Oniv Beverages share swap worth Rs. 5 crore, Integra Essentia business purchase) to rebuild its business portfolio post-insolvency, which could shape future direction but adds execution risk.