📉 The Financial Deep Dive
The Numbers:
- Q3 FY26 Revenue: ₹1,567.00 Cr (+36.8% YoY).
- Q3 FY26 Net Profit: ₹26.74 Cr (vs. ₹-140.42 Cr YoY, a significant turnaround).
- Q3 FY26 EBITDA: ₹164.26 Cr (vs. ₹-12.00 Cr YoY).
- Q3 FY26 EBITDA Margin: 10.48% (vs. -1.05% YoY).
- Nine Months FY26 Total Income: ₹2,822.48 Cr.
- Nine Months FY26 Net Loss: ₹141.97 Cr (improved from ₹-308.43 Cr YoY).
The company has demonstrated strong operational recovery in Q3, reversing substantial losses from the prior year. Revenue growth of 36.8% is a key driver, complemented by effective cost management leading to a positive EBITDA margin. However, the cumulative net loss for the nine-month period indicates that the company is still working towards sustained overall profitability for the fiscal year. Cash flow and balance sheet details are absent, limiting a full financial health assessment.
The Grill:
The filing does not include details from a management call or analyst interactions, so there is no explicit "grill" to report. Management commentary on future guidance is also absent.
🚩 Risks & Outlook
- Specific Risks: The primary risk remains achieving consistent profitability across the full fiscal year, given the nine-month net loss. The lack of specific financial guidance makes future projections uncertain. Confidentiality clauses in the Aerospace & Defence segment, while common, limit transparency on key client relationships and future order pipeline beyond the stated book value.
- The Forward View: Investors should closely monitor the revenue growth trajectory and margin expansion in the upcoming quarters. The execution of the ₹36 Cr order book (₹25 Cr in FY25-26, ₹11 Cr in FY26-27) will be crucial for near-term revenue visibility and profitability. A detailed look at the balance sheet and cash flow statements in the next official filing will be important to assess the company's financial stability and deleveraging efforts.