📉 The Financial Deep Dive
Nagpur Power and Industries Limited disclosed its un-audited financial results for the quarter and nine months ended December 31, 2025. The most striking aspect of the filing is the standalone revenue from operations, which stood at a flat ₹0 Cr for Q3 FY26, mirroring the previous year's figure and the nine-month period. This indicates a complete absence of core business activity on a standalone basis.
The company's standalone performance was entirely driven by "Other Income," which stood at ₹0.52 Cr in Q3 FY26 compared to a loss-making figure of ₹(1.51) Cr in Q3 FY25. This led to a significant improvement in the standalone Profit/Loss Before Tax, narrowing the loss to ₹0.01 Cr from ₹2.22 Cr YoY, and a similar reduction in net loss.
On a consolidated front, Nagpur Power presented a more dynamic picture. Revenue from operations surged by 42.7% year-on-year to ₹20.63 Cr in Q3 FY26. This top-line growth translated into a much-needed turnaround in profitability, with a net profit of ₹0.46 Cr reported for the quarter, a substantial recovery from the net loss of ₹2.62 Cr in Q3 FY25. Quarter-on-quarter, consolidated revenue also grew by 34.1% to ₹20.63 Cr, and the net profit improved from a loss of ₹0.99 Cr to a profit of ₹0.46 Cr.
However, the nine-month consolidated performance for FY26 paints a concerning picture. The company reported a net loss of ₹0.15 Cr for the nine months ended December 31, 2025, a significant swing from the net profit of ₹0.81 Cr recorded in the corresponding period of FY25. This indicates that while Q3 saw a recovery, the overall year-to-date trend has worsened.
🚩 Risks & Outlook
The primary risk for Nagpur Power lies in its complete dependence on non-operating income for its standalone results. The sustainability of this "Other Income" is critical. While consolidated revenue growth is positive, the swing to a nine-month net loss raises concerns about the overall operational health and the ability to generate consistent profits. Investors will need to closely monitor the source and sustainability of this other income and understand the status of the company's core operational businesses.
The Electro Mechanical Division reported a loss for the quarter despite a QoQ revenue increase, suggesting potential cost pressures or execution challenges within specific segments. The company has not provided any forward-looking guidance, leaving the Street to infer future performance from the current mixed results.