Dalal Street Investments Limited announced its unaudited financial results for the third quarter and nine months ended December 31, 2025. The company reported a challenging quarter with significant decline in profitability compared to the previous year.

Financial Performance Overview

The company's financial performance showed a marked deterioration during the quarter. Key financial metrics demonstrate the challenges faced by the organization during this period.

Expense Analysis

Total expenses for the quarter amounted to ₹18.36 lakhs compared to ₹16.29 lakhs in Q3 FY24. The expense breakdown shows increases across most categories:

• Employee Benefit Expense: ₹8.38 lakhs (Q3 FY24: ₹7.63 lakhs)
• Financial Costs: ₹1.17 lakhs (Q3 FY24: ₹0.83 lakhs)
• Depreciation and Amortization: ₹3.15 lakhs (Q3 FY24: ₹3.18 lakhs)
• Other Expenses: ₹5.67 lakhs (Q3 FY24: ₹4.66 lakhs)

Nine-Month Performance

For the nine months ended December 31, 2025, the company reported contrasting results compared to the previous year:

Key Financial Ratios

The company's financial ratios as of December 31, 2025, reflect the current financial position:

• Debt Equity Ratio: 0.28 times (compared to 0.54 times in December 2024)
• Debt Service Coverage Ratio: (4.45) times
• Interest Service Coverage Ratio: (11.89) times
• Basic and Diluted EPS: (₹5.77) per share

Comprehensive Income Impact

The company faced additional challenges from other comprehensive income, recording a loss of ₹8.91 lakhs on fair value of equity/mutual fund investments during the quarter. This resulted in total comprehensive income of (₹27.08 lakhs) for Q3 FY26.

Board Approval and Compliance

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 9, 2026. The results have been prepared in accordance with Indian Accounting Standard 34 and comply with SEBI regulations. The trading window for the company's securities will open 48 hours after the announcement of results, as per the company's insider trading prevention code.

Indian equity markets are poised for a sideways to cautious trading pattern in the week starting January 19, as investors navigate through a confluence of domestic earnings announcements and global economic developments. The market closed flat for the week ended January 16, with the Nifty 50 rising 11 points to 25,694 and BSE Sensex declining 6 points to 83,570, while mid and smallcap indices showed resilience with gains of 0.20% and 0.50% respectively.

Corporate Earnings Season Intensifies

The December quarter earnings season will be in full swing during January 19-24, with more than 200 companies releasing their quarterly scorecards. Major Nifty 50 constituents scheduled to announce results include:

Other significant companies reporting earnings include IndusInd Bank, Punjab National Bank, InterGlobe Aviation, Bharat Heavy Electricals, Havells India, Hindustan Zinc, AU Small Finance Bank, Gujarat Gas, United Spirits, Bank of India, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, Bandhan Bank, DLF, Zee Entertainment Enterprises, Godrej Consumer Products, and Multi Commodity Exchange of India.

Global Economic Data in Focus

International markets will closely monitor several key economic releases. The final US GDP numbers for July-September 2025 are expected to show 4.00% growth, up from 3.80% in the previous quarter. Additionally, Core PCE prices, real consumer spending data for Q3-2025, and weekly jobs data will be released.

China's final quarter GDP for Q4-2025 is expected to be lower than the 4.80% growth seen in Q3, along with monthly retail sales data. Flash manufacturing and services PMIs from major global economies including the US, Japan, and Euro Area will also be monitored.

Trump's Davos Address and Geopolitical Developments

President Trump's speech at the World Economic Forum in Davos will be closely watched for policy signals. The 56th annual meeting, themed "A Spirit of Dialogue," will be held in Davos-Klosters, Switzerland, from January 19 to 23, 2026. Discussions will cover geopolitical risks, economic uncertainty, innovation deployment, and transformative technologies including generative AI.

Primary Market Activity

The primary market will witness significant activity with five new IPOs launching this week:

Nine companies will begin trading this week, including Bharat Coking Coal (January 19) and Amagi Media Labs (January 21) from the mainboard segment.

Market Outlook and Technical Analysis

Technically, the Nifty 50 is expected to remain cautious with a consolidative bias as long as it trades within the 25,600-25,900 range. The formation of doji patterns on daily and weekly charts indicates indecision among market participants. A decisive close above 25,900 could open doors for a move toward 26,000, while a fall below 25,600 may bring the index toward 25,450.

The India VIX extended its uptrend for the third consecutive week, rising 4.10% to 11.37, signaling caution for bulls. FIIs remained net sellers with ₹14,266 crore outflow last week, taking monthly selling to over ₹26,000 crore, while DIIs provided strong support with ₹16,174 crore net buying and over ₹34,000 crore monthly purchases.