SPL Industries Limited has submitted a clarification to the National Stock Exchange and BSE regarding a shareholding discrepancy involving promoter group entity Sunil Kumar & Sons. The discrepancy relates to a difference of 216 shares between the company's quarterly shareholding pattern submissions and records maintained by the designated depository CDSL.

Shareholding Discrepancy Details

The company identified inconsistencies between its reported shareholding data and depository records for the promoter group entity. In quarterly shareholding patterns submitted to stock exchanges, SPL Industries reported 1,91,700 equity shares held by Sunil Kumar and Sons under the promoter and promoter group category. However, CDSL records reflected an additional entry of 216 equity shares in the same entity's name, but with a dummy PAN, creating the discrepancy.

Investigation and Resolution Process

Following detailed scrutiny with CDSL, the company discovered that the PAN against the 216 shares had not been updated, leading to the discrepancy. Further verification was conducted with the registrar and share transfer agent Kfin Technologies Limited. Through PAN-based demat account mapping at the designated depository level, the investigation confirmed the actual shareholding structure.

The verification process revealed that the total holding of 1,91,916 shares is distributed across two separate demat accounts:

• 1,91,700 shares held in the name of Sunil Kumar and Sons
• 216 shares held in another demat account under the name Sunil Jindal

Historical Context and Classification

The company noted that the 216 shares in question have been held in the respective demat account for a considerable period and were previously classified under the public category. These shares form part of the overall shareholding of the promoter group, with no recent acquisition or transaction activity involving these specific shares.

Corrective Measures

To ensure consistency between the designated depository CDSL records and the registrar Kfin Technologies Limited records, SPL Industries has decided to include the 216 shares under the promoter and promoter group category in subsequent shareholding pattern filings. This adjustment will align the company's reported shareholding data with the actual depository records and eliminate future discrepancies.

The clarification was signed by Managing Director Mukesh Kumar Aggarwal and submitted to both the National Stock Exchange and BSE for their records. This proactive disclosure demonstrates the company's commitment to maintaining accurate and transparent shareholding records in compliance with regulatory requirements.

SPL Industries Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, showcasing mixed performance with significant profitability improvement in the third quarter despite revenue challenges. The Board of Directors approved these results in their meeting held on February 13, 2026.

Quarterly Financial Performance

The company demonstrated remarkable profit recovery in Q3FY26, with net profit surging to ₹238.42 lakhs compared to ₹30.15 lakhs in Q3FY25, marking an impressive 690% year-on-year growth. This substantial improvement came despite a significant decline in operational revenue.

The significant boost in other income to ₹660.85 lakhs from ₹299.67 lakhs helped offset the operational revenue decline and contributed to the overall profitability improvement.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, the company faced challenges with both revenue and profitability declining compared to the previous year. Net profit dropped to ₹309.88 lakhs from ₹685.25 lakhs, while revenue from operations fell substantially to ₹4,626.15 lakhs from ₹10,870.22 lakhs.

Segment-wise Performance

The company operates through two primary business segments: manufacturing/processing and trading of garments. In Q3FY26, the manufacturing/processing segment generated revenue of ₹858.87 lakhs, while the trading of garments segment contributed ₹1,266.97 lakhs to the total segment revenue.

Cost Structure and Operational Efficiency

The company's total expenses for Q3FY26 were ₹2,077.25 lakhs compared to ₹2,829.20 lakhs in Q3FY25, reflecting improved cost management. Key expense components included purchase of stock in trade at ₹924.28 lakhs, manufacturing expenses of ₹420.44 lakhs, and employee benefit expenses of ₹277.04 lakhs.

Tax Benefits and Deferred Tax Impact

A significant factor contributing to the improved bottom line was the deferred tax benefit of ₹208.60 lakhs in Q3FY26, compared to a deferred tax expense of ₹107.04 lakhs in Q3FY25. The company paid current tax of ₹18.78 lakhs during the quarter.

Capital Structure

SPL Industries maintained its paid-up equity share capital at ₹2,900.00 lakhs, consisting of equity shares with a face value of ₹10 each. The earnings per share improved dramatically to ₹0.82 for Q3FY26 from ₹0.10 in the corresponding quarter of the previous year.