Outcome of Board Meeting duly held on 10th February, 2026
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The Board of Directors of Wires & Fabriks (S.A.) Limited, held on February 10, 2026, approved the unaudited financial results for the quarter and nine months ended December 31, 2025, along with the limited review report from statutory auditors Jain Shrimal & Co., which was unqualified (clean). Revenue from operations for Q3 FY26 stood at Rs. 2,939.62 lacs, marginally up from Rs. 2,920.78 lacs in Q3 FY25, while nine-month revenue rose about 5% to Rs. 8,668.56 lacs. However, profit after tax for Q3 collapsed to Rs. 7.69 lacs (from Rs. 69.06 lacs), and nine-month PAT plunged nearly 90% to Rs. 11.39 lacs (from Rs. 119.53 lacs). The sharp drop in profitability is mainly due to significantly higher finance costs (up ~72% YoY in Q3) and depreciation expenses (up ~73% YoY in Q3), indicating major margin compression. The Board also approved reconstitution of its committees (Audit, Stakeholders Relationship, Nomination & Remuneration, and CSR) effective April 1, 2026.
Despite stable top-line growth, the steep ~90% fall in nine-month PAT and sharply rising finance and depreciation costs are worrying signs for shareholders, pointing to significant margin pressure and likely higher debt servicing burden. The clean audit report and committee reconstitution are procedural positives, but the weak earnings print may weigh negatively on the stock in the short term.