1. Auditor’s Note
- The auditor’s review reports for both Standalone and Consolidated financial results are unqualified.
- The auditors have stated that nothing has come to their attention to indicate any material misstatement or non-compliance with applicable accounting standards and SEBI Listing Regulations.
- The review was conducted under SRE 2410 and is limited in scope compared to a full audit.
- The consolidated results include one wholly owned subsidiary (SGRL USA INC) whose financials are not material to the Group.
- No qualifications, concerns, or issues were raised by the auditors.
2. Financial Performance
Standalone Financial Results
All figures in ₹ Lakhs
| Particular | Q3 FY26 (Dec 31, 2025) | Q2 FY26 (Sep 30, 2025) | Q3 FY25 (Dec 31, 2024) | 9M FY26 (Apr-Dec 2025) | 9M FY25 (Apr-Dec 2024) | FY25 (Apr 2024-Mar 2025) |
|---|---|---|---|---|---|---|
| INCOME | ||||||
| Revenue from Operations | 2,110.68 | 3,031.50 | 2,705.28 | 7,608.96 | 8,416.46 | 10,859.65 |
| Other Income | 65.60 | 68.98 | 71.00 | 200.76 | 144.29 | 372.95 |
| Total Income (I+II) | 2,176.28 | 3,100.49 | 2,776.28 | 7,809.72 | 8,560.75 | 11,232.60 |
| EXPENSES | ||||||
| Cost of Materials Consumed | 894.67 | 1,219.84 | 1,023.30 | 2,988.56 | 2,786.71 | 3,738.11 |
| Purchases of Stock-in-trade | - | - | - | - | 1.23 | 1.23 |
| Changes in Inventories of Finished Goods, Stock-in-trade and Work-in-progress | (261.37) | 39.32 | (183.49) | (223.32) | 215.04 | (151.99) |
| Employee Benefit Expenses | 286.14 | 296.74 | 266.37 | 852.71 | 743.01 | 1,011.89 |
| Finance Costs | 73.59 | 101.01 | 37.51 | 268.61 | 111.88 | 207.73 |
| Depreciation and Amortisation expense | 266.73 | 258.74 | 270.01 | 767.48 | 714.24 | 956.69 |
| Other Expenses | 518.25 | 513.73 | 609.06 | 1,626.51 | 1,737.04 | 2,339.21 |
| Total Expenses (IV) | 1,778.01 | 2,429.37 | 2,022.76 | 6,280.55 | 6,309.15 | 8,102.87 |
| Profit/(Loss) before Tax (III-IV) | 398.27 | 671.11 | 753.52 | 1,529.17 | 2,251.60 | 3,129.73 |
| Tax Expense | ||||||
| Current Tax | 161.80 | 153.80 | 188.29 | 417.48 | 578.21 | 804.68 |
| Deferred Tax | (79.17) | 21.74 | 2.19 | (44.44) | 3.59 | (4.46) |
| (Excess)/Short provision of tax of earlier years | 6.02 | - | 19.70 | 6.02 | - | - |
| Total Tax Expense (VI) | 88.65 | 175.55 | 210.18 | 379.06 | 601.50 | 819.92 |
| Profit/(Loss) for the period after Tax (V-VI) | 309.62 | 495.57 | 543.34 | 1,150.11 | 1,650.10 | 2,309.81 |
| OTHER COMPREHENSIVE INCOME | ||||||
| Remeasurement Gain/(Loss) on Defined Benefit Plans | (2.16) | (3.87) | (1.08) | (6.47) | (3.25) | (1.75) |
| Income Tax Relating to above | 0.54 | 0.97 | 0.27 | 1.63 | 0.82 | 0.44 |
| Total Other Comprehensive Income for the period (VIII) | (1.62) | (2.90) | (0.81) | (4.84) | (2.43) | (1.31) |
| Total Comprehensive Income for the period (VII+VIII) | 308.00 | 492.67 | 542.53 | 1,145.27 | 1,647.67 | 2,308.50 |
| Earning Per Share of ₹ 10 Par Value | ||||||
| Paid-up Equity Share Capital (Face Value ₹ 10 each) | 1,283.76 | 1,283.76 | 1,284.34 | 1,283.76 | 1,284.34 | 1,283.76 |
| Basic (₹ per share) | 2.41 | 3.86 | 4.23 | 8.96 | 12.85 | 17.98 |
| Diluted (₹ per share) | 2.41 | 3.86 | 4.23 | 8.96 | 12.85 | 17.98 |
Consolidated Financial Results
All figures in ₹ Lakhs
| Particular | Q3 FY26 (Dec 31, 2025) | Q2 FY26 (Sep 30, 2025) | Q3 FY25 (Dec 31, 2024) | 9M FY26 (Apr-Dec 2025) | 9M FY25 (Apr-Dec 2024) | FY25 (Apr 2024-Mar 2025) |
|---|---|---|---|---|---|---|
| INCOME | ||||||
| Revenue from Operations | 2,110.68 | 3,031.50 | 2,705.28 | 7,608.96 | 8,416.46 | 10,859.65 |
| Other Income | 65.60 | 68.98 | 71.00 | 200.76 | 144.29 | 372.95 |
| Total Income (I+II) | 2,176.28 | 3,100.49 | 2,776.28 | 7,809.72 | 8,560.75 | 11,232.60 |
| EXPENSES | ||||||
| Cost of Materials Consumed | 894.67 | 1,219.84 | 1,023.30 | 2,988.56 | 2,786.71 | 3,738.11 |
| Purchases of Stock-in-trade | - | - | - | 1.23 | 1.23 | 1.23 |
| Changes in Inventories of Finished Goods, Stock-in-trade and Work-in-progress | (261.37) | 39.32 | (183.49) | (223.32) | 215.04 | (151.99) |
| Employee Benefit Expenses | 286.14 | 295.74 | 266.37 | 852.71 | 743.01 | 1,011.89 |
| Finance Costs | 73.59 | 101.01 | 38.50 | 268.61 | 114.16 | 210.69 |
| Depreciation and Amortisation expense | 266.73 | 258.74 | 270.01 | 767.48 | 714.24 | 956.69 |
| Other Expenses | 518.25 | 513.73 | 609.06 | 1,626.51 | 1,737.04 | 2,339.21 |
| Total Expenses (IV) | 1,778.01 | 2,429.37 | 2,023.75 | 6,280.55 | 6,311.43 | 8,105.84 |
| Profit/(Loss) before Tax (III-IV) | 398.27 | 671.11 | 752.53 | 1,529.17 | 2,249.32 | 3,126.76 |
| Tax Expense | ||||||
| Current Tax | 162.33 | 153.80 | 188.29 | 418.43 | 578.21 | 804.68 |
| Deferred Tax | (79.17) | 21.74 | 2.19 | (44.44) | 3.59 | (4.46) |
| (Excess)/Short provision of tax of earlier years | 6.02 | - | 19.70 | 6.02 | 19.70 | 19.70 |
| Total Tax Expense (VI) | 89.18 | 175.54 | 210.18 | 380.01 | 601.50 | 819.92 |
| Profit/(Loss) for the period after Tax (V-VI) | 309.09 | 495.57 | 542.35 | 1,149.16 | 1,647.82 | 2,306.84 |
| OTHER COMPREHENSIVE INCOME | ||||||
| Exchange Differences in translating the financial statements of foreign operations | 0.03 | 0.15 | 0.13 | 0.16 | 0.15 | 0.17 |
| Remeasurement Gain/(Loss) on Defined Benefit Plans | (2.16) | (3.87) | (1.08) | (6.47) | (3.25) | (1.75) |
| Income Tax Relating to above | 0.54 | 0.97 | 0.27 | 1.63 | 0.82 | 0.44 |
| Total Other Comprehensive Income for the period (VIII) | (1.59) | (2.75) | (0.68) | (4.68) | (2.28) | (1.15) |
| Total Comprehensive Income for the period (VII+VIII) | 307.50 | 492.82 | 541.67 | 1,144.48 | 1,645.54 | 2,305.70 |
| Earning Per Share of ₹ 10 Par Value | ||||||
| Paid-up Equity Share Capital (Face Value ₹ 10 each) | 1,283.76 | 1,283.76 | 1,284.34 | 1,283.76 | 1,284.34 | 1,283.76 |
| Basic (₹ per share) | 2.41 | 3.86 | 4.22 | 8.95 | 12.83 | 17.96 |
| Diluted (₹ per share) | 2.41 | 3.86 | 4.22 | 8.95 | 12.83 | 17.96 |
3. Detailed Notes / Management Commentary
- The results were reviewed by the Audit Committee and approved by the Board on January 23, 2026.
- Financials prepared as per Indian Accounting Standards (Ind AS) 34 for interim reporting.
- The company operates primarily in one business segment: Bulk Drug Intermediates.
- Earnings Per Share (EPS) is calculated on weighted average shares; quarterly and nine-month EPS are not annualized.
- The consolidated results include one wholly owned subsidiary, SGRL USA INC, incorporated in January 2024.
- No changes in accounting policies or material adjustments were reported.
- Previous period figures have been regrouped where necessary for comparability.
- No mention of material provisions, impairments, or restructuring.
- No segment-wise financial breakdown beyond the single segment noted.
- No commentary on capital expenditure, projects, or corporate actions in the notes.
4. Segment Information
- The company reports a single business segment: Bulk Drug Intermediates.
- No further segment or geographic breakdown provided.
- No segment EBIT/PBIT margins or growth rates explicitly disclosed.
5. Capex, Projects, and Corporate Activity
- No explicit disclosures on capital expenditure (planned or executed).
- No mention of ongoing or planned projects.
- No write-downs, writebacks, impairments, or provisions disclosed.
- No acquisitions, disposals, divestitures, mergers, or restructuring efforts mentioned.
- The only corporate activity noted is the inclusion of the wholly owned subsidiary SGRL USA INC from January 2024.
6. Standalone vs Consolidated
- Both Standalone and Consolidated financial results are provided.
- The consolidated results include the parent company and one wholly owned subsidiary (SGRL USA INC).
- The subsidiary’s financials are immaterial to the Group.
- Financial line items and profit metrics are very similar between standalone and consolidated, with minor differences in finance costs, tax provisions, and total expenses.
Summary
- Auditor’s Note: Clean review reports with no qualifications.
- Financials:
- Revenue from operations for Q3 FY26 stood at ₹2,110.68 Lakhs standalone and consolidated, down from ₹3,031.50 Lakhs in Q2 FY26.
- Profit after tax for Q3 FY26 was ₹309.62 Lakhs standalone and ₹309.09 Lakhs consolidated.
- Nine months FY26 revenue was ₹7,608.96 Lakhs standalone and consolidated.
- EPS for Q3 FY26 was ₹2.41 basic and diluted.
- Single Segment: Bulk Drug Intermediates.
- No material changes in accounting policies or significant corporate actions.
- No segment or geographic breakdown beyond the single segment.
- No capex or project details disclosed.
- Standalone and consolidated results are closely aligned.
This comprehensive extraction is suitable for the investment analysis team to understand the company’s recent financial performance and disclosures.