The company, one of India’s largest industrial gear solutions providers, reported a 33% decline in its net profit to Rs 72 crore in the third quarter. In the same quarter last year, its net profit stood at Rs 108 crore.
Revenue from operations clocked a marginal uptick of 4.3% to Rs 552 crore as against Rs 529 crore in the same period last year. The management said the muted increase was primarily due to delays in order inflows during H1 FY26, which consequently impacted execution and differed dispatch delivery schedule by customers.
EBITDA margins also declined a staggering 717 basis points to 19.8%, the company said in a regulatory filing. One basis point (bp or bps) is equal to 0.01%, or one-hundredth of one percent. “This was impacted due to flat revenue performance, increase in employee costs and change in product mix,” the management said.
For the 9 months of FY26, the revenue ahs increased by 13% to Rs 1,620 crore. Profit after tax or net profit also rose 25% to Rs 335 crore, higher from Rs 269 crore during the same period of the previous financial year.
“Healthy open orders and encouraging inquiries levels provide good visibility and confidence for revenue improvement and recovery in margin going forward. We continue to witness steady demand from domestic power, steel, cement, and MHE industries,” the company said.
Demand remains healthy across both domestic and overseas markets. In India, sustained investment activity in key sectors such as steel, power, and cement is expected to drive growth. The overseas business is also showing signs of recovery, with consistent traction and encouraging enquiry levels across multiple geographies, it added. The company has delivered superior returns, with stock rising 1,600% in the last 5 years.
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