ZUARI INDUSTRIES LIMITED has submitted to the Exchange, the financial results for the period ended December 31, 2025.
ZUARIIND · price
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Zuari Industries reported its Q3 FY26 and nine-month ended 31 December 2025 results. On a standalone basis, revenue from operations for the quarter rose slightly to ₹21,135.60 lakhs (vs ₹20,482.86 lakhs in Q3 FY25), while 9M revenue was largely flat at ₹62,613.40 lakhs. Standalone net loss narrowed to ₹(500.52) lakhs in Q3 from ₹(735.83) lakhs a year ago, and 9M loss improved sharply to ₹(576.52) lakhs from ₹(4,645.12) lakhs. On a consolidated basis, Q3 revenue grew about 12% to ₹26,263.26 lakhs, and 9M revenue rose roughly 9% to ₹76,126.53 lakhs. Consolidated PAT swung to a 9M profit of ₹13,739.21 lakhs (vs a loss of ₹7,362.09 lakhs), primarily driven by a one-time exceptional gain of ₹817.49 crores booked in associate Zuari Agro Chemicals from the MCFL-Paradeep Phosphates merger scheme. The Board also accepted the resignation of CFO Nishant Dalal (effective 27 Feb 2026) and appointed Jatin Jain as the new CFO from 28 Feb 2026.
The headline consolidated swing to profit is flattering — it is almost entirely driven by a non-recurring gain from the MCFL demerger at the associate level, and standalone operations remain in loss. Shareholders should focus on underlying segment performance, which shows mixed results, and the disclosed contingent excise demand of ~₹502 lakhs and pending SEBI settlement matter at the associate. The CFO transition appears orderly with an internal appointee, so near-term disruption risk is limited.