Mahasagar Travels Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, demonstrating a notable recovery in quarterly performance despite facing challenges over the longer nine-month period. The Gujarat-based company, which operates in the travel and petroleum retail sectors, presented these results following a board meeting held on February 11, 2026.

Quarterly Financial Performance

The company's Q3FY26 results showed a strong turnaround with significant improvements across key financial metrics. The quarterly performance reflected the company's ability to navigate operational challenges and deliver positive results.

Nine-Month Performance Analysis

While the quarterly results were encouraging, the nine-month performance presented a contrasting picture. The company faced headwinds during the extended period, resulting in a net loss for the nine months ended December 31, 2025.

Segment-wise Business Performance

Mahasagar Travels operates through two primary business segments, each contributing differently to the overall financial performance. The segmental analysis provides insights into the operational dynamics of the company's diversified business model.

Tours & Travels Segment:

• Q3FY26 Revenue: ₹550.55 lacs vs Q3FY25: ₹532.41 lacs
• Segment Result: ₹40.40 lacs profit vs ₹21.79 lacs in previous year
• Nine-month Revenue: ₹1519.91 lacs vs ₹1517.14 lacs

Petrol Pump Segment:

• Q3FY26 Revenue: ₹385.78 lacs vs Q3FY25: ₹385.53 lacs
• Segment Result: ₹0.81 lacs vs ₹3.53 lacs in previous year
• Nine-month Revenue: ₹1147.55 lacs vs ₹1152.25 lacs

Cost Structure and Operational Metrics

The company's expense management showed mixed results during the quarter. Major expense categories included cost of materials consumed at ₹432.32 lacs, fuel expenses of ₹220.96 lacs, and other operational costs totaling ₹402.71 lacs. Employee benefit expenses decreased to ₹29.70 lacs from ₹41.83 lacs in the corresponding quarter of the previous year.

Corporate Governance and Compliance

The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors. The statutory auditors, B H Advani & Associates, conducted a limited review of the unaudited financial results without any qualifications or modifications. The company maintains its paid-up equity share capital at ₹786.35 lacs with a face value of ₹10.00 per share.

Mahasagar Travels Limited, a company operating in the tours and travels sector with a petrol pump segment, has disclosed its unaudited standalone financial results for the quarter and half-year ended September 30, 2025. The company reported a net loss of ₹13.43 lakh for the half-year period, indicating challenging market conditions in its operational segments.

Financial Performance

The company's financial results reveal some key insights into its current position:

The company's balance sheet shows an increase in total assets from ₹1,266.09 lakh as of March 31, 2025, to ₹1,433.89 lakh as of September 30, 2025. However, the negative equity position has worsened, moving from ₹(4.58) lakh to ₹(18.03) lakh over the same period.

Segment Performance

Mahasagar Travels operates in two main segments:

1. Tours & Travels
2. Petrol Pump

The company identified the Petrol Pump segment as its primary reportable segment. For the half-year ended September 30, 2025:

• The Tours & Travels segment reported a revenue of ₹969.36 lakh
• The Petrol Pump segment's revenue stood at ₹766.72 lakh

Audit Review

B.H. Advani Associates, the statutory auditors, conducted a limited review of the financial statements. They stated that nothing has come to their attention that causes them to believe that the financial results are not prepared in accordance with applicable accounting standards and other recognized accounting practices and policies.

Management's Statement

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 12, 2025. The company has prepared these results in accordance with the Companies (Indian Accounting Standard) Rules, 2015, as prescribed under section 133 of the Companies Act, 2013, and other recognized accounting principles generally accepted in India.

Outlook

While the company faces challenges as evidenced by the reported loss, the increase in total assets suggests potential investments or expansions. However, the widening negative equity position may raise concerns about the company's financial stability. Investors and stakeholders may need to closely monitor the company's performance in the coming quarters for signs of improvement or further deterioration.

Mahasagar Travels Limited will need to focus on improving its operational efficiency and exploring growth opportunities in both its Tours & Travels and Petrol Pump segments to address the current loss-making trend.