Panther Industrial Products Limited has resubmitted its quarterly financial results for the quarter ended December 31, 2025, following discrepancies identified in the original submission. The company informed BSE Limited on March 6, 2026, that the issues arose due to scanning and formatting errors that made certain figures unclear in the previously submitted document.

Financial Performance Overview

The company's financial performance for Q3FY26 shows continued operational challenges, with no revenue generation from core business activities. The comprehensive financial results reveal the following key metrics:

Expense Analysis

The company's expense structure for the quarter shows a marked improvement compared to the previous year. Total expenses decreased from ₹50.38 lakhs in Q3FY25 to ₹4.97 lakhs in Q3FY26. The major expense components included:

• Operating and other expenses: ₹3.81 lakhs (compared to ₹4.32 lakhs in Q3FY25)
• Listing fees: ₹0.81 lakhs (significantly lower than ₹19.52 lakhs in Q3FY25)
• Depreciation expense: ₹0.31 lakhs (reduced from ₹0.50 lakhs)
• Communication expense: ₹0.04 lakhs (unchanged)

Notably, the company did not incur any re-instatement fees during the current quarter, unlike the previous year when it paid ₹26.00 lakhs.

Nine-Month Performance

For the nine-month period ended December 31, 2025, the company reported a total comprehensive loss of ₹15.14 lakhs, compared to a loss of ₹40.66 lakhs in the corresponding period of the previous year. This represents a 62.78% improvement in performance.

Balance Sheet Position

As of December 31, 2025, the company's financial position shows total assets of ₹851.47 lakhs, compared to ₹865.03 lakhs as of March 31, 2025. The balance sheet highlights include:

The company's accumulated losses increased to ₹38.85 lakhs as of December 31, 2025, resulting in a net worth of ₹106.00 lakhs.

Regulatory Compliance and Auditor Review

The resubmitted financial results were reviewed by statutory auditors Rajesh H. Gupta & Co., Chartered Accountants, and approved by the Board of Directors on February 12, 2026. The auditors noted that the company has not reported any revenue for the first nine months of the current financial year, though management has provided written confirmation indicating that revenue is expected to be generated by the end of the financial year.

The company maintains a paid-up equity share capital of ₹140.00 lakhs with a face value of ₹10 per share. Public shareholding stands at 7,13,670 shares representing 50.98% of total shareholding, while promoter and promoter group hold 6,86,337 shares (49.02%) which are entirely non-encumbered.

Panther industrial products Limited has released its unaudited financial results for the quarter and nine months ended December 31, 2025, showing continued operational challenges with zero revenue generation. The Board of Directors approved these results during their meeting held on February 12, 2026.

Financial Performance Overview

The company's financial performance for Q3FY26 reflects ongoing difficulties in revenue generation while maintaining reduced operational expenses compared to the previous year.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Panther Industrial Products Limited demonstrated improved loss management compared to the corresponding period in the previous financial year.

Expense Breakdown

The company's expense structure for Q3FY26 showed significant reductions across most categories:

• Operating and other expenses: ₹3.81 lakhs (Q3FY25: ₹4.32 lakhs)
• Communication expenses: ₹0.04 lakhs (Q3FY25: ₹0.04 lakhs)
• Depreciation expenses: ₹0.11 lakhs (Q3FY25: ₹0.50 lakhs)
• Listing fees: ₹0.81 lakhs (Q3FY25: ₹19.53 lakhs)
• Re-insurance fees: ₹0.00 lakhs (Q3FY25: ₹36.60 lakhs)

Balance Sheet Position

As of December 31, 2025, the company's financial position showed total assets of ₹851.47 lakhs compared to ₹865.03 lakhs as of March 31, 2025. The company maintains a paid-up equity share capital of ₹140.00 lakhs with reserves and surplus showing a deficit of ₹33.80 lakhs.

Shareholding Pattern

The promoter and promoter group shareholding remained stable at 50.98% with 6,86,337 non-encumbered shares. Public shareholding stands at 7,15,670 shares representing 49.02% of the total shareholding.

Auditor's Review

The statutory auditors noted that the company has not reported any revenue for the first nine months of the current financial year. However, management has provided written confirmation indicating that revenue is expected to be generated by the end of the financial year. The limited review was conducted in accordance with Standard on Review Engagements (SRE) 2410.