Outcome of the meeting
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Zodiac-JRD-MKJ's board met on 14 Feb 2026 and approved unaudited standalone and consolidated results for Q3 FY26 and nine months ended 31 Dec 2025. On a standalone basis, Q3 revenue from operations rose to ₹625.41 lakhs from ₹554.51 lakhs a year ago (about 13% growth), but standalone profit after tax for the quarter dropped sharply to around ₹12.62 lakhs versus ₹46.85 lakhs in Q3 FY25, a roughly 73% fall. For the nine-month period, standalone revenue declined about 11% to ₹1,623.27 lakhs (from ₹1,823.49 lakhs), while nine-month profit after tax was around ₹46-57 lakhs depending on which line of the table is read. On a consolidated basis, Q3 revenue was ₹1,421.78 lakhs with PAT of ₹17.95 lakhs, down sequentially from ₹53.88 lakhs in Q2, while nine-month consolidated revenue was ₹3,728.88 lakhs and PAT was ₹109.35 lakhs. Subsidiary VEM Plastic Moulding contributed ₹2,061.50 lakhs of revenue and ₹52.80 lakhs of profit. The auditor (Girish L. Shethia) issued a clean limited review report with no qualifications or emphasis of matter.
Q3 standalone profit fell sharply year-on-year even as quarterly revenue grew, signalling margin pressure and weaker product mix in the core trading business; combined with a 11% decline in nine-month standalone revenue, the results are mixed and may weigh on short-term sentiment, though the auditor's clean review and continued profit (no loss) limit the downside.