Gold Rock Investments Limited announced its unaudited standalone financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results at their meeting held on February 12, 2026, following recommendations from the Audit Committee.

Financial Performance Overview

The company's financial performance for Q3FY26 showed mixed results compared to the exceptional performance in the corresponding quarter of the previous year.

Revenue Components Analysis

The company's revenue structure reflects its nature as a Non-Banking Financial Company focused on investment activities:

Nine-Month Performance

For the nine months ended December 31, 2025, the company reported total revenue from operations of Rs. 747.14 lakhs compared to Rs. 2,384.59 lakhs in the corresponding period of the previous year. The profit after tax for the nine-month period was Rs. 609.19 lakhs against Rs. 2,271.29 lakhs in the previous year.

Operational Expenses

The company maintained controlled operational expenses during Q3FY26:

• Finance cost: Rs. 1.23 lakhs
• Employee benefit expense: Rs. 9.08 lakhs
• Depreciation and amortization: Rs. 3.84 lakhs
• Other expenses: Rs. 29.83 lakhs

Total expenses for the quarter amounted to Rs. 43.97 lakhs compared to Rs. 39.96 lakhs in Q3FY25.

Key Highlights

The company noted that during FY 2024-25, it recorded a one-time profit of Rs. 1,464.26 lakhs from the sale of long-term investments, which significantly contributed to the exceptional performance in the previous year. This profit was non-recurring in nature and does not reflect ongoing operational performance. The paid-up equity share capital remained stable at Rs. 78.56 lakhs with a face value of Rs. 10 per share. The results were reviewed by statutory auditors M/s Rajeev Sharma & Associates Chartered Accountants and comply with SEBI Listing Regulations.

Silver has recovered most losses after experiencing its biggest one-day drop in more than five years, with the white metal climbing above $75 an ounce following a dramatic 9% slide in the previous session. Despite the recent volatility, a lingering supply shortage keeps silver on track for an impressive 33% monthly gain, while gold also edged higher after its steepest drop in two months.

Technical Correction Amid Strong Fundamentals

The recent selloff was primarily technical in nature, driven by early profit-taking on precious metals' recent spike, leveraged long positions being unwound, and tighter margin requirements adding pressure to the market. According to Dilin Wu, a strategist at Pepperstone Group Ltd., "The fundamentals haven't changed" despite the dramatic price movements.

Exchange Risk Management Measures

Several exchanges have moved to rein in risk amid heightened volatility, with margins for certain COMEX silver futures contracts raised from Monday. When exchanges boost margin requirements, traders must put up more cash to keep their positions open, forcing some speculators without extra capital to shrink or close their trades. Thin market liquidity has exacerbated recent price swings, contributing to the extreme volatility witnessed in precious metals markets.

Chinese Market Influence and Speculative Interest

Speculative investor interest in China has emerged as a key driver of silver prices in recent sessions. Elevated buying in the Shanghai Gold Exchange's silver contract pushed premiums to a record high, dragging other international benchmarks along. The blistering rally provoked China's only pure-play silver fund to turn away new customers after repeated risk warnings went unheeded, highlighting the intensity of regional demand.

Physical Supply Shortage Supports Prices

Silver's recovery occurs against a backdrop of genuine supply constraints that emerged two months ago when the London market suffered a full-blown squeeze. Flows into ETFs and exports to India eroded inventories that were already critically low, creating lasting supply-demand imbalances. While London's vaults have seen significant inflows since then, much of the world's available silver remains in New York as traders await the outcome of a US probe that could lead to tariffs or other trade restrictions.

According to Indian brokerage Motilal Oswal Financial Services Ltd., this year's silver rally "is being shaped by real metal scarcity." Analysts Navneet Damani and Manav Modi noted that "physical deficits, policy-driven supply restrictions, and concentrated inventories are increasingly dictating prices, signaling a durable shift in how the silver market is priced and traded."

Strong Annual Performance Trajectory Maintained

Despite recent volatility, both gold and silver remain on track for their best annual performances since 1979. The metals continue to benefit from strong central-bank purchases, inflows to exchange-traded funds, and three successive rate cuts by the US Federal Reserve. Lower borrowing costs provide a significant tailwind for commodities that don't pay interest, supporting the underlying bullish sentiment despite short-term technical corrections.