Hardcastle & Waud Profit Rockets 130% on Record Revenue Surge

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AuthorAarav Shah|Published at:
Hardcastle & Waud Profit Rockets 130% on Record Revenue Surge
Overview

Hardcastle & Waud Manufacturing reported stellar Q3 FY26 results, with net profit soaring 130.1% year-over-year to ₹141.18 Crores. Revenue from operations surged 107.7% to ₹292.92 Crores, driven by robust performance across its 'Investments', 'Leasing', and 'Trading' segments. Nine-month earnings also showed significant growth, with net profit up 140.3% and revenue rising 76.2%. The company's asset base and net worth expanded, reflecting strong operational momentum.

📉 The Financial Deep Dive

Hardcastle & Waud Manufacturing Company Limited has announced a stellar performance for the third quarter and nine months ended December 31, 2025.

The Numbers

  • Q3 FY26 Performance: Revenue from operations surged by 107.7% year-over-year to ₹292.92 Crores from ₹139.08 Crores in Q3 FY25. Profit Before Tax (PBT) jumped 116.7% YoY to ₹188.50 Crores. Net Profit after tax witnessed a significant rise of 130.1% YoY to ₹141.18 Crores. Earnings Per Share (EPS) more than doubled, growing 129.0% YoY to ₹20.78.
  • 9M FY26 Performance: Revenue from operations increased by 76.2% YoY to ₹725.42 Crores from ₹411.60 Crores in 9M FY25. PBT rose 51.6% YoY to ₹366.07 Crores. Net Profit saw a remarkable surge of 140.3% YoY to ₹288.70 Crores. EPS grew 140.3% YoY to ₹42.49.

The Quality


  • Margins: The robust profit growth outpaced revenue expansion in Q3 FY26, indicating margin improvement. The Q3 PAT margin expanded to approximately 48.2% from an estimated 44.1% in the prior year. However, for the nine-month period, the PAT margin compressed slightly to 39.8% from an estimated 43.0% YoY, suggesting varying performance dynamics across quarters or different expense structures impacting the longer period.

  • Growth Drivers: Revenue was significantly driven by its 'Investments' segment (₹381.42 Crores for 9M FY26), followed by 'Leasing' (₹170.50 Crores) and 'Trading' (₹173.50 Crores).

  • Balance Sheet: Total assets grew from ₹4,866.30 Crores as of March 31, 2025, to ₹5,195.38 Crores as of December 31, 2025. The company's net worth also strengthened, increasing from ₹4,552.34 Crores to ₹4,877.61 Crores during the same period.

The Grill


  • Management guidance or outlook for future performance was not provided in the reviewed documents.

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