Industrial Investment Trust Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, showcasing a significant turnaround in financial performance. The Board of Directors approved these results at their meeting held on February 04, 2026.

Standalone Financial Performance

The company delivered impressive standalone results for Q3FY26, marking a substantial improvement over the previous year's performance.

For the nine months ended December 31, 2025, the standalone performance showed continued strength:

Revenue Composition and Key Drivers

The company's revenue streams demonstrated mixed performance across different components:

• Interest Income: ₹439.90 lakhs in Q3FY26 versus ₹638.75 lakhs in Q3FY24
• Dividend Income: ₹5.18 lakhs compared to ₹9.92 lakhs in the previous year
• Net Gain on Fair Value Changes: Significant positive contribution of ₹621.32 lakhs in Q3FY26, contrasting sharply with a loss of ₹1,093.69 lakhs in Q3FY24

The substantial improvement in fair value changes was the primary driver of the company's strong quarterly performance.

Consolidated Results Show Similar Strength

The consolidated financial results, including subsidiaries, reflected the parent company's strong performance:

Subsidiary Challenges and Corporate Actions

Despite the parent company's strong performance, Industrial Investment Trust Limited faces significant challenges with its subsidiary IITL Projects Limited. The subsidiary has accumulated losses of ₹543.19 lakhs as of December 31, 2025, which exceed its paid-up capital, resulting in fully eroded net worth.

Key developments regarding the subsidiary include:

• IITL Projects Limited no longer operates as a going concern due to lack of business operations and cash flow
• The Board approved extending the redemption period for 70,00,000 preference shares until March 31, 2028
• Shareholders provided consent for this extension through postal ballot on January 08, 2026

Operational Expenses and Tax Position

The company maintained disciplined cost management with total standalone expenses of ₹339.12 lakhs in Q3FY26 compared to ₹354.62 lakhs in Q3FY24. Employee benefit expenses increased to ₹108.42 lakhs from ₹85.27 lakhs, while other expenses rose marginally to ₹171.82 lakhs from ₹155.09 lakhs.

The company is subject to income tax under section 115BAA of the Income Tax Act 1961, with current tax provision of ₹141.48 lakhs for Q3FY26.

Subsidiary Removal Initiative

Industrial Investment Trust Limited announced its intention to remove IITL Investment Advisors Private Limited from the Register of Companies. This subsidiary, incorporated on January 16, 2025, has not commenced any business operations and reported a negative net worth of ₹7.48 lakhs as of December 31, 2025.

Industrial Investment Trust has successfully completed its postal ballot process, with shareholders approving a critical related party transaction involving its subsidiary company. The voting process, conducted entirely through remote e-voting, concluded on January 08, 2026, with overwhelming shareholder support for the proposed resolution.

Postal Ballot Resolution Details

The postal ballot sought shareholder approval for a related party transaction under Regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resolution specifically addressed the variation in terms of 70,00,000 preference shares issued by subsidiary IITL Projects Limited to the parent company.

Voting Results and Participation

The postal ballot process demonstrated strong shareholder confidence in the proposed transaction. CS Chandanbala O. Mehta, a practicing company secretary, served as the scrutinizer to ensure fair and transparent voting procedures.

Notably, promoters and promoter group members, holding 1,04,64,692 shares, abstained from voting due to their interest in the resolution, as required under regulatory guidelines.

Regulatory Compliance and Process

The company adhered to all regulatory requirements for conducting the postal ballot process. The postal ballot notice dated November 12, 2025, was distributed to all eligible shareholders, with the cut-off date set as November 28, 2025. A total of 3,952 shareholders were recorded on the cut-off date.

Key compliance highlights include:

• Advertisement published in The Free Press Journal (English) and Navshakti (Marathi) on December 09, 2025
• Remote e-voting facility provided through Central Depository Services (India) Limited
• Electronic votes unblocked on January 08, 2026, at 5:02 PM in the presence of independent witnesses
• GDR holders with 29,38,770 underlying equity shares excluded from voting as per regulations

Corporate Governance and Transparency

The postal ballot process reflects Industrial Investment Trust Limited's commitment to corporate governance and regulatory compliance. The resolution's approval with 99.99% votes in favour demonstrates strong shareholder confidence in the company's strategic decisions regarding its subsidiary operations.

The scrutinizer's report confirmed that all procedural requirements were met, with the voting process conducted fairly and transparently. The company has fulfilled its obligations under Regulation 44 of SEBI Listing Regulations by declaring the results and submitting detailed voting reports to stock exchanges.

With the resolution now approved, Industrial Investment Trust Limited can proceed with the variation in preference share terms for its subsidiary IITL Projects Limited, enabling the group to optimize its capital structure and operational efficiency.