Blue Blends (India) Limited Announces Quarterly Results for Q1, Q2, and Q3FY25
Blue Blends (India) Limited announced quarterly results for Q1, Q2, and Q3FY25, showing significant improvement with Q3FY25 profit of ₹17.09 lakhs on revenue of ₹161.16 lakhs. The nine-month period delivered profit of ₹35.21 lakhs versus previous year loss of ₹44.22 lakhs. The company successfully emerged from CIRP in December 2024 after three years, with new management implementing the approved resolution plan and undertaking balance sheet restructuring.
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Blue Blends (India) Limited has announced its unaudited quarterly financial results for Q1FY25, Q2FY25, and Q3FY25 following a board meeting held on September 19, 2025. The textile company, which operates in a single segment, has shown a remarkable turnaround after emerging from Corporate Insolvency Resolution Process (CIRP) in December 2024.
Q3FY25 Financial Performance
The company reported strong performance in Q3FY25 (quarter ended December 31, 2024) with significant improvements across key metrics:
| Parameter | Q3FY25 | Q2FY25 | Q3FY24 |
|---|---|---|---|
| Revenue from Operations | ₹161.16 lakhs | ₹118.07 lakhs | ₹253.71 lakhs |
| Net Profit | ₹17.09 lakhs | ₹10.60 lakhs | (₹59.57 lakhs) |
| Earnings Per Share | ₹0.08 | ₹0.05 | (₹0.28) |
The quarter showed sequential growth with revenue increasing from ₹118.07 lakhs in Q2FY25 to ₹161.16 lakhs in Q3FY25. The company achieved profitability of ₹17.09 lakhs compared to a loss of ₹59.57 lakhs in the corresponding quarter of the previous year.
Nine-Month Performance (April-December 2024)
For the nine-month period ended December 31, 2024, Blue Blends demonstrated consistent improvement:
| Metric | FY25 (9 months) | FY24 (9 months) | Change |
|---|---|---|---|
| Total Revenue | ₹419.04 lakhs | ₹417.26 lakhs | +₹1.78 lakhs |
| Net Profit/(Loss) | ₹35.21 lakhs | (₹44.22 lakhs) | +₹79.43 lakhs |
| Basic EPS | ₹0.16 | (₹0.20) | +₹0.36 |
Quarterly Results Overview
The company's quarterly performance showed progressive improvement throughout FY25:
Q1FY25 (ended June 30, 2024):
- Revenue from operations: ₹139.80 lakhs
- Net profit: ₹7.52 lakhs
- Basic EPS: ₹0.03
Q2FY25 (ended September 30, 2024):
- Revenue from operations: ₹118.07 lakhs
- Net profit: ₹10.60 lakhs
- Basic EPS: ₹0.05
Corporate Restructuring and CIRP Resolution
Blue Blends successfully emerged from Corporate Insolvency Resolution Process (CIRP) which commenced on December 2, 2021, and concluded on December 6, 2024. The Hon'ble National Company Law Tribunal (NCLT), Mumbai approved the resolution plan, and the company has initiated implementation under new management.
As part of the resolution plan implementation, significant balance sheet restructuring occurred during Q3FY25, including transfers to Capital Reserve Account of preference share redemption reserve of ₹550.00 lakhs, debenture redemption reserve of ₹900.00 lakhs, and 1% preference share capital of ₹900.00 lakhs.
Capital Structure and Financial Position
The company maintains a stable capital structure with equity share capital of ₹2,165.12 lakhs (face value ₹10 per share) remaining consistent across all reported periods. The debt capital structure has been modified as part of the resolution plan, with debt capital reducing to nil in Q3FY25 from ₹4,175.55 lakhs in previous quarters.
Operational Highlights
Blue Blends operates exclusively in the textiles segment, with separate segment reporting not applicable under Ind AS 108. The company's expense management showed improvement with total expenses of ₹144.07 lakhs in Q3FY25 compared to ₹313.28 lakhs in Q3FY24.
Key expense categories for Q3FY25 included power & fuel costs of ₹96.88 lakhs, legal & professional fees of ₹18.56 lakhs, and employee benefits expense of ₹18.88 lakhs. The company maintained minimal finance costs at ₹0.03 lakhs during the quarter.
The financial results have been reviewed by M Parashar & Co., Chartered Accountants (Firm Registration No.: 110954C), who served as statutory auditors and provided limited review reports for all three quarters. The new management, following the CIRP resolution, is undertaking statutory appointments and related filings with appropriate board and audit committee approvals.
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