James Warren Tea Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, revealing mixed performance with quarterly losses offset by nine-month profitability. The tea cultivation, manufacturing, and selling company reported challenging third-quarter results while maintaining overall positive performance for the nine-month period.

Quarterly Financial Performance

The company's third-quarter performance showed significant deterioration compared to the previous year. James Warren Tea reported a net loss of ₹143.83 lakhs for Q3FY26, contrasting sharply with the profit of ₹1,029.55 lakhs recorded in Q3FY25.

Nine-Month Cumulative Results

Despite quarterly challenges, the company maintained profitability for the nine-month period ended December 31, 2025. The year-to-date performance showed resilience, though with reduced margins compared to the previous year.

Operational Expenses and Cost Structure

The company's expense structure reflected operational challenges during the quarter. Employee benefits expense decreased to ₹1,467.53 lakhs in Q3FY26 from ₹2,361.42 lakhs in Q3FY25. Changes in inventories of finished goods showed an increase of ₹1,507.09 lakhs, compared to ₹1,705.41 lakhs in the corresponding previous quarter. Other expenses declined to ₹857.34 lakhs from ₹1,270.61 lakhs year-on-year.

Regulatory and Compliance Updates

The company highlighted the notification of four Labour Codes on November 21, 2025, including the Code on Wages 2019, Industrial Relations Code 2020, Code on Social Security 2020, and Occupational Safety, Health and Working Conditions Code 2020. James Warren Tea is currently evaluating the potential financial impact of implementing these consolidated labour laws and will recognize appropriate accounting effects in the financial statements for the year ending March 31, 2026.

Board Approval and Audit Review

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on February 6, 2026. The results have undergone limited review by statutory auditors B. Chhawchharia & Co., Chartered Accountants, who issued their review report confirming compliance with applicable accounting standards and regulatory requirements. The company maintains its paid-up equity share capital at ₹370.00 lakhs with a face value of ₹10 per share.

James Warren Tea Limited (JWIL), a prominent player in the Indian tea industry, has released its financial results for the quarter ended September 30, 2025, revealing a mixed performance amidst challenging market conditions.

Quarterly Performance

The company reported a net loss of ₹2,089.00 lakhs for the quarter ended September 30, 2025, a significant shift from the profit of ₹3,767.00 lakhs recorded in the same quarter of the previous year. This decline in profitability comes despite a revenue from operations of ₹4,728.00 lakhs for the quarter.

Half-Year Results

Despite the quarterly setback, JWIL maintained its profitability for the half-year period:

The company's ability to maintain its half-yearly profit at the same level as the previous year, despite a decrease in revenue, suggests effective cost management strategies.

Financial Position

As of September 30, 2025, James Warren Tea's financial position shows:

• Total Assets: ₹24,845.00 lakhs
• Total Equity: ₹22,282.00 lakhs

These figures indicate a strong asset base and a healthy equity position, which could provide resilience in the face of market fluctuations.

Operational Changes

JWIL disposed of two of its tea estates in the previous financial year. This structural change makes year-on-year comparisons less straightforward, as the operating results of the disposed estates are included in the figures for the corresponding quarter and half-year ended September 30, 2024.

Industry Context

The tea industry is known for its seasonal nature, which can lead to significant variations in quarterly performance. As such, the company cautions that these quarterly figures should not be considered indicative of full-year performance.

Management's Perspective

The company's management has exercised due diligence to ensure that the financial results provide a true and fair view of its affairs. The un-audited financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 11, 2025.

Conclusion

While the quarterly loss is a concern, James Warren Tea's ability to maintain half-yearly profitability in the face of reduced revenue and structural changes demonstrates resilience. Investors and stakeholders will likely be watching closely to see how the company navigates the challenges ahead and capitalizes on its strong financial position.

Note: All financial figures are based on un-audited results and are subject to limited review by the company's statutory auditors.