Maithan Alloys has released its third quarter financial results, revealing a comprehensive year-on-year decline across key financial metrics including net profit, revenue, and EBITDA performance. The alloys manufacturer faced operational headwinds during the quarter, with all major financial indicators showing downward trends compared to the same period in the previous year.

Comprehensive Financial Performance

The company's Q3 results demonstrate broad-based challenges across multiple financial parameters. The decline was evident in revenue generation, profitability metrics, and operational efficiency measures when compared to the corresponding quarter of the previous year.

Revenue and Profitability Analysis

Maithan Alloys recorded revenue of 5.20 billion rupees in Q3, marking a decrease from the 5.40 billion rupees achieved in the same quarter of the previous year. This revenue decline directly impacted the company's bottom line performance, with net profit falling to 865 million rupees from 952 million rupees year-on-year.

EBITDA Performance

The company's operational efficiency also came under pressure during the quarter. EBITDA for Q3 stood at 290 million rupees compared to 310 million rupees in the previous year's corresponding quarter. The EBITDA margin contracted to 5.59% from 5.74% year-on-year, indicating challenges in maintaining operational profitability amid revenue pressures.

Overall Assessment

The comprehensive decline across revenue, net profit, EBITDA, and margin metrics highlights the operational challenges faced by Maithan Alloys during Q3. The company experienced contraction in both its top-line performance and operational efficiency, reflecting the need to address underlying factors affecting its financial trajectory.

Maithan Alloys Limited has announced the incorporation of a new subsidiary, Maithan Electronics Private Limited, on January 27, 2026. The Ministry of Corporate Affairs, Government of India issued the Certificate of Incorporation on the same date at 2:18 P.M.

Subsidiary Details and Business Objective

The newly incorporated subsidiary has been established to set up a manufacturing unit for electronics and electrical goods, including wires and cables. This expansion represents Maithan Alloys' strategic entry into the cables-electricals industry.

Financial Structure and Investment

Maithan Alloys Limited, including its nominees, has acquired a controlling stake in the subsidiary through a cash consideration structure.

Corporate Structure and Operations

The subsidiary was incorporated with an authorized, issued, subscribed and paid-up capital of 10,00,000 equity shares of Rs 10 each. As a newly incorporated entity, Maithan Electronics Private Limited is yet to commence its business operations and currently shows nil turnover and profit after tax.

Regulatory Compliance

The incorporation has been completed in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction does not fall within related party transactions, and no governmental or regulatory approvals were required for the acquisition.

Strategic Implications

This subsidiary incorporation marks Maithan Alloys' diversification into the electronics and electrical goods manufacturing sector. The company has confirmed that the acquisition was conducted at arm's length, with no interest from promoter groups in the acquired entity. The subsidiary will operate within India and represents a strategic expansion of the parent company's manufacturing capabilities beyond its traditional business lines.