Mihika Industries Reports 93% Drop in Q3FY26 Net Profit to ₹1.42 Lakhs
Mihika Industries Limited reported disappointing Q3FY26 results with net profit declining 93% to ₹1.42 lakhs and revenue dropping 60% to ₹22.14 lakhs year-on-year. The nine-month performance was equally challenging, showing 91% decline in net profit to ₹7.17 lakhs and 68% decrease in revenue to ₹222.95 lakhs. Despite reduced expenses, the significant revenue decline impacted overall profitability, with earnings per share falling to ₹0.01 from ₹0.21 in the previous year quarter.
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Mihika Industries Limited has reported a challenging third quarter for FY26, with significant declines across key financial metrics. The company, engaged in trading of agriculture products, announced its unaudited financial results for the quarter and nine months ended December 31, 2025.
Quarterly Performance Analysis
The company's Q3FY26 performance showed substantial deterioration compared to the previous year. Net profit for the quarter dropped dramatically by 93% to ₹1.42 lakhs from ₹21.15 lakhs in Q3FY25. This decline was primarily driven by reduced operational revenue and compressed margins.
| Financial Metric: | Q3FY26 | Q3FY25 | Change (%) |
|---|---|---|---|
| Revenue from Operations: | ₹22.14 lakhs | ₹54.70 lakhs | -59.5% |
| Other Income: | ₹13.81 lakhs | ₹27.35 lakhs | -49.5% |
| Total Revenue: | ₹35.95 lakhs | ₹82.06 lakhs | -56.2% |
| Net Profit: | ₹1.42 lakhs | ₹21.15 lakhs | -93.3% |
Nine-Month Performance Review
The nine-month period ended December 31, 2025, reflected similar challenges with net profit declining 91% to ₹7.17 lakhs compared to ₹78.55 lakhs in the corresponding period of FY25. Revenue from operations for the nine-month period stood at ₹222.95 lakhs, representing a 68% decrease from ₹696.48 lakhs in the previous year.
| Parameter: | 9M FY26 | 9M FY25 | Variance |
|---|---|---|---|
| Revenue from Operations: | ₹222.95 lakhs | ₹696.48 lakhs | -68.0% |
| Total Expenses: | ₹257.24 lakhs | ₹670.19 lakhs | -61.6% |
| Profit Before Tax: | ₹9.69 lakhs | ₹106.15 lakhs | -90.9% |
| Tax Expenses: | ₹2.52 lakhs | ₹27.60 lakhs | -90.9% |
Operational Expenses and Cost Structure
The company's expense management showed some positive aspects during the quarter. Total expenses for Q3FY26 decreased to ₹34.03 lakhs from ₹53.47 lakhs in Q3FY25. Key expense components included:
- Purchases of Stock-in-Trade: ₹28.40 lakhs (Q3FY26) vs ₹49.54 lakhs (Q3FY25)
- Employee benefits expenses: ₹3.42 lakhs vs ₹2.70 lakhs
- Other expenses: ₹2.21 lakhs vs ₹1.23 lakhs
Earnings Per Share and Capital Structure
Basic and diluted earnings per share for Q3FY26 stood at ₹0.01, significantly lower than ₹0.21 in Q3FY25. The company maintained its paid-up equity share capital at ₹1,000.00 lakhs throughout the reporting periods. For the nine-month period, earnings per share declined to ₹0.07 from ₹0.79 in the previous year.
Regulatory Compliance and Audit Status
The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 13, 2026. The statutory auditors S K Bhavsar & Co. conducted a limited review of the results as per Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The company operates in a single business segment of trading agriculture products, with no reportable segments requiring separate disclosure under Ind AS 108.
Historical Stock Returns for Mihika Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +5.17% | -9.79% | -3.61% | -30.46% | -43.69% | -37.51% |
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