Medi-Caps Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, presenting a mixed performance across its business segments. The Board of Directors approved these results in their meeting held on February 11, 2026, with the financial statements reviewed by statutory auditors Rawka & Associates.

Board Meeting and Regulatory Compliance

The company's Board of Directors convened on February 11, 2026, from 3:00 PM to 3:50 PM to consider and approve the unaudited standalone and consolidated financial results. The meeting was conducted under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with Managing Director Alok K Garg overseeing the proceedings.

Standalone Financial Performance

The company's standalone operations demonstrated a strong recovery in Q3FY26, reporting significant improvements across key financial metrics:

For the nine-month period ended December 31, 2025, standalone operations maintained profitability with a net profit of ₹17.42 lacs compared to a loss of ₹15.10 lacs in the corresponding period last year.

Consolidated Financial Results

The consolidated performance, which includes wholly-owned subsidiary Medgel Private Limited, showed continued challenges despite some improvement:

Segment-wise Performance Analysis

The company operates through two main business divisions with contrasting performance trajectories:

Real Estate Division:

• Generated revenue of ₹77.28 lacs in Q3FY26 from shop sales at Medi-caps Business Park
• Reported segment profit of ₹31.35 lacs compared to a loss of ₹26.47 lacs in Q3FY25
• Nine-month revenue reached ₹177.24 lacs with segment profit of ₹20.27 lacs

Pharma Division:

• Revenue of ₹352.66 lacs in Q3FY26 versus ₹376.26 lacs in Q3FY25
• Segment loss of ₹105.08 lacs in the current quarter
• Nine-month revenue declined to ₹722.67 lacs from ₹1698.78 lacs in the previous year

Subsidiary Performance

Medgel Private Limited, the company's wholly-owned subsidiary operating in the pharma segment, reported challenging financial metrics for the nine-month period:

Financial Position and Capital Structure

The company maintained a stable capital structure with paid-up equity share capital of ₹1247.00 lacs. Total comprehensive income for Q3FY26 on a consolidated basis was negative ₹16.44 lacs, showing improvement from the negative ₹257.11 lacs in Q3FY25.

Operational Highlights

Key operational developments during the quarter included:

• Revenue generation from real estate operations through shop sales at Medi-caps Business Park
• Continued focus on the pharma division despite operational challenges
• Maintenance of dual business model across real estate and pharmaceutical segments
• Compliance with Indian Accounting Standards and SEBI regulations
• Publication of results on company website and stock exchange platforms

The company's financial results reflect the ongoing transformation in its business mix, with real estate operations showing recovery while the pharma segment through its subsidiary continues to face operational headwinds. The results were prepared in accordance with Indian Accounting Standards and reviewed by the company's statutory auditors.

Medi Caps , a pharmaceutical company with diversified interests in real estate, has announced its unaudited financial results for the second quarter and first half of the fiscal year 2025-26. The company's performance shows a mixed picture across its various business segments.

Revenue and Profitability

For the quarter ended September 30, 2025, Medi-Caps Limited reported:

• Consolidated revenue from operations: Rs. 268.76 crore (down from Rs. 829.62 crore in Q2 FY2025)
• Total income: Rs. 302.25 crore (compared to Rs. 858.24 crore in Q2 FY2025)
• Consolidated profit before tax: Rs. 182.15 crore (up from Rs. 31.23 crore in Q2 FY2025)

Notably, this represents a recovery from the loss of Rs. 349.19 crore reported in Q1 FY2026.

Segment Performance

Medi-Caps Limited operates in two reportable segments:

1. Pharma Division
2. Real Estate Division

The Real Estate Division generated revenue of Rs. 99.78 lakh from the sale of shops at Medi-caps Business Park during the quarter under review.

Financial Position

As of September 30, 2025, the company's consolidated financial position shows:

Cash Flow and Liquidity

The consolidated cash flow statement for the half-year ended September 30, 2025, indicates:

• Net cash flow from operating activities: Rs. (158.95) lakh
• Net cash used in investing activities: Rs. 126.81 lakh
• Net decrease in cash and cash equivalents: Rs. (32.14) lakh

Subsidiary Performance

The consolidated results include the performance of Medgel Private Limited, a wholly-owned subsidiary. For the quarter ended September 30, 2025, Medgel Private Limited reported:

• Total assets: Rs. 2,566.22 lakh
• Total income: Rs. 101.25 lakh
• Net loss after tax: Rs. (210.80) lakh
• Total comprehensive income: Rs. (286.58) lakh

Management Commentary

The company's Board of Directors reviewed and approved these unaudited financial results in their meeting held on November 12, 2025. The management has exercised due diligence to ensure that the financial results provide a true and fair view of the company's affairs.

Conclusion

Medi-Caps Limited's financial performance for Q2 and H1 FY2026 reflects challenges in its core pharmaceutical business, while its real estate division has shown some positive momentum. The significant year-over-year decline in revenue and the fluctuating profitability underscore the need for close monitoring of the company's strategic initiatives and market conditions in the coming quarters.

Investors and stakeholders should note that these are unaudited results and may be subject to changes upon final audit.