Mahan Industries Limited has announced its unaudited standalone financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results during their meeting held on February 12, 2026, following review by the Audit Committee.

Financial Performance Overview

The company's Q3FY26 performance showed mixed results with strong revenue growth but increased losses. Revenue from operations reached ₹159.36 lakhs in Q3FY26, marking a substantial 68.92% increase from ₹94.34 lakhs in the corresponding quarter of the previous year.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, Mahan Industries demonstrated strong top-line growth with revenue from operations reaching ₹349.59 lakhs, compared to ₹178.01 lakhs in the corresponding period of FY25, representing a 96.37% increase.

Expense Structure and Profitability

The company's expense structure revealed significant increases across multiple categories. Purchase of stock in trade rose to ₹176.08 lakhs in Q3FY26 from ₹54.44 lakhs in Q3FY25. Other expenses increased substantially to ₹25.94 lakhs compared to ₹4.51 lakhs in the previous year quarter. Total expenses for Q3FY26 reached ₹199.20 lakhs, significantly higher than ₹95.93 lakhs in Q3FY25.

The company benefited from positive inventory changes of ₹9.98 lakhs in Q3FY26, compared to negative changes of ₹29.45 lakhs in the corresponding quarter last year. Employee benefits expenses decreased to ₹4.68 lakhs from ₹6.54 lakhs year-over-year.

Share Capital and Earnings Per Share

Mahan Industries maintained a paid-up equity share capital of ₹450.00 lakhs with a face value of ₹10 per share. The company reported basic and diluted earnings per share of ₹0.60 loss for Q3FY26, compared to ₹0.00 loss in Q3FY25. For the nine-month period, EPS stood at ₹0.59 loss compared to ₹0.01 profit in the previous year.

Regulatory Compliance and Audit

The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by statutory auditors M/s. SDPM & Co., Chartered Accountants, who issued an unmodified review report. The company operates as a registered Non-Banking Financial Company (NBFC) and has no separate reportable segments under Ind-AS 108 on Operating Segments.

Man Industries (India) Limited held its Extraordinary General Meeting on February 10, 2026, at 3:00 p.m. through video conferencing, achieving significant shareholder approval for a key board appointment. The meeting addressed the regularization of Mrs. Esha Padmanabhan Achan's appointment as an Independent Director of the company.

Meeting Participation and Attendance

The EGM witnessed participation from shareholders representing a substantial portion of the company's equity base. Key attendance metrics demonstrate strong engagement from both promoter and public shareholders.

Resolution Details and Voting Results

The single agenda item focused on the appointment of Mrs. Esha Padmanabhan Achan (DIN: 10350369) as an Independent Director. This special resolution required approval from shareholders and received overwhelming support across all categories.

Comprehensive Voting Breakdown

Voting Process and Timeline

The company implemented a comprehensive voting mechanism combining remote e-voting and e-voting during the meeting. The remote e-voting period commenced on February 7, 2026, at 9:00 a.m. and concluded on February 9, 2026, at 5:00 p.m.

Final Vote Tally

Scrutinizer's Oversight

Mayank Arora of M/s. Mayank Arora & Co., Company Secretaries, served as the appointed Scrutinizer for the voting process. The scrutinizer's report, dated February 11, 2026, confirmed the validity of the voting process and results. Central Depository Services (India) Limited (CDSL) provided the electronic voting platform, ensuring transparency and security in the voting mechanism.

Resolution Outcome

The resolution for Mrs. Esha Padmanabhan Achan's appointment as Independent Director passed with requisite majority, receiving unanimous support from all voting categories. No votes were cast against the resolution, and no invalid votes were recorded during the process. The company has fulfilled its regulatory obligations under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by intimating the voting results to both BSE Limited and National Stock Exchange of India Limited.