IVP Limited , a leading manufacturer of foundry chemicals and polyurethane products, has announced strong financial results for Q3FY26, demonstrating significant growth across key performance metrics. The company, established in 1929 and part of the Allana Group, operates through two primary business verticals serving foundry applications and footwear solutions.

Strong Financial Performance in Q3FY26

The company delivered impressive results for the quarter ended December 31, 2025, with substantial improvements in both revenue and profitability metrics.

Revenue from operations grew 12% year-on-year to ₹144.97 crores in Q3FY26 compared to ₹129.36 crores in Q3FY25. The company's Profit After Tax witnessed remarkable growth of 145%, increasing to ₹4.63 crores from ₹1.89 crores in the corresponding quarter of the previous year.

Operational Efficiency and Margin Expansion

EBITDA performance showed significant improvement, rising 54% to ₹9.86 crores in Q3FY26 from ₹6.12 crores in Q3FY25. The EBITDA margin expanded substantially to 6.48% from 4.73%, representing an improvement of 175 basis points year-on-year. This margin expansion reflects improved operational efficiency and better cost management across the company's manufacturing operations.

Finance costs decreased by 17% to ₹1.70 crores compared to ₹2.05 crores in Q3FY25, contributing to the overall improvement in profitability. Profit Before Tax grew 138% to ₹6.18 crores from ₹2.60 crores in the previous year.

Nine-Month Performance Highlights

The company's performance for the nine-month period ending December 31, 2025, also demonstrated consistent growth trends across key financial parameters.

For the nine-month period, revenue from operations increased 10% to ₹430.11 crores from ₹389.63 crores in 9MFY25. EBITDA grew 18% to ₹24.16 crores with margins improving by 36 basis points to 5.51%. Profit After Tax for the nine-month period rose 31% to ₹9.82 crores compared to ₹7.48 crores in the previous year.

Business Segments and Market Position

IVP Limited operates through diversified business verticals with distinct revenue contributions and margin profiles. The company's foundry applications segment contributes 35-40% of revenue with margins of 3-5%, while footwear solutions account for 55-60% of revenue with higher margins of 5-7%. The flexible packaging segment, though smaller at 5-7% revenue contribution, offers the highest margins at 10%.

The company serves over 500 clients across various industries through its state-of-the-art manufacturing facilities in Tarapur and Bengaluru, with a combined annual production capacity of 50,000 tonnes. With over 90 years of industrial excellence and a workforce of 200+ dedicated employees, IVP Limited continues to strengthen its market position in specialized chemical solutions.

IVP Limited has announced its unaudited financial results for the third quarter and nine months ended December 31, 2025, demonstrating strong operational performance across key financial metrics. The Board of Directors approved these results at their meeting held on January 29, 2026, following review by the Audit Committee and limited review by statutory auditors Rajendra & Co., Chartered Accountants.

Financial Performance Overview

The company delivered robust financial results for Q3 FY26, with significant improvements in both revenue and profitability metrics compared to the corresponding period of the previous year.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, IVP Limited maintained its growth trajectory with consistent improvements across all major financial parameters.

Operational Highlights

The company's operational efficiency showed marked improvement during the quarter. Cost of materials consumed stood at ₹10,775 lakhs for Q3 FY26 compared to ₹10,994 lakhs in Q3 FY25. Employee benefits expense increased to ₹605 lakhs from ₹544 lakhs, while finance costs decreased to ₹170 lakhs from ₹205 lakhs in the corresponding quarter.

Exceptional Items and Provisions

The results included exceptional items totaling ₹46 lakhs related to the implementation of new labour codes. The Government of India consolidated 29 existing labour legislations into four unified codes effective from November 21, 2025. This resulted in a one-time increase in employee benefit provisions, with ₹46 lakhs pertaining to past services rendered up to March 31, 2025.

Additionally, the company identified customer record misrepresentation by a sales employee during a preliminary investigation in January 2026. The total amount involved is ₹195 lakhs, which has been fully provided in accordance with IND AS 109, including an additional ₹52 lakhs recognized during the quarter in other expenses.

Comprehensive Income and Equity Position

Total comprehensive income for Q3 FY26 reached ₹459 lakhs compared to ₹179 lakhs in Q3 FY25. For the nine-month period, comprehensive income stood at ₹1,031 lakhs versus ₹715 lakhs in the previous year. The company maintained its paid-up equity share capital at ₹1,033 lakhs with a face value of ₹10 per share.

Business Segment and Outlook

IVP Limited operates in the chemicals manufacturing business, which represents its only reportable operating segment as per Ind AS 108. The company has initiated measures to strengthen its internal control framework to prevent recurrence of the identified irregularities and continues to focus on operational excellence in its core chemical manufacturing operations.