ZUARI INDUSTRIES LIMITED has informed the Exchange regarding Board meeting held on February 13, 2026.
ZUARIIND · price
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On the reaction day the stock moved 3.4 pts less than Nifty Microcap 250 and 3.4 pts less than its Sugar peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Zuari Industries' board approved unaudited financial results for Q3 and 9M FY26 (ended Dec 31, 2025). On a standalone basis, the company reported a net loss of INR 500.52 lakhs for the quarter (vs loss of INR 735.83 lakhs in Q3 FY25) and a loss of INR 576.52 lakhs for 9M FY26 (vs loss of INR 4,645.12 lakhs). Revenue from operations grew modestly to INR 21,135.60 lakhs in Q3. On a consolidated basis, the company posted a net profit of INR 13,739.21 lakhs for 9M FY26 (vs loss of INR 7,362.09 lakhs), but this swung to a Q3 net loss of INR 2,642.51 lakhs, driven largely by a sharp drop in share of profit from associates (INR 1,412.76 lakhs vs INR 18,675.36 lakhs in Q2). Exceptional items included impairment losses on furniture subsidiaries IFPL and FFPIL, an insurance claim settlement loss of INR 697.89 lakhs, and INR 280.86 lakhs impact from new Labour Codes. The board also accepted CFO Nishant Dalal's resignation (effective Feb 27, 2026) and appointed Jatin Jain as new CFO from Feb 28, 2026.
Standalone operations remain in the red with continued losses in furniture subsidiaries triggering impairments, though 9M losses have narrowed significantly. Consolidated profitability is heavily dependent on associate ZACL, where the MCFL-PPL merger delivered a one-time exceptional gain of INR 817.49 crores — without this, the picture is weak. The CFO transition is a near-term governance watchpoint; otherwise, the quarter-on-quarter swing from profit to loss may weigh on sentiment.