Pfizer Limited has delivered impressive financial results for the quarter ended December 31, 2025, demonstrating strong growth across key performance metrics. The pharmaceutical giant's quarterly performance reflects robust operational execution and market positioning in the competitive healthcare sector.

Financial Performance Overview

The company's financial results for Q3FY26 showcase significant improvement across multiple parameters. Total income reached ₹683.24 crore, marking a substantial 17.65% increase from ₹580.75 crore reported in the corresponding quarter of the previous fiscal year.

Profitability Analysis

Pfizer Limited demonstrated strong profitability metrics during the quarter. Net profit before tax increased to ₹191.95 crore from ₹172.44 crore in the same period last year, representing an 11.32% growth. The company's net profit after tax stood at ₹141.84 crore, compared to ₹127.60 crore in Q3FY24, showing an 11.18% improvement.

The company's total comprehensive income for the quarter reached ₹143.71 crore, slightly higher than the net profit after tax, indicating positive other comprehensive income components. This comprehensive performance reflects the company's ability to generate value beyond core operational activities.

Nine-Month Performance

For the nine-month period ended December 31, 2025, Pfizer Limited maintained strong momentum with total income of ₹2,037.65 crore. The company achieved net profit after tax of ₹522.61 crore for the nine-month period, with earnings per share reaching ₹114.24.

Capital Structure

The company maintained a stable capital structure with equity share capital of ₹45.75 crore, consisting of shares with a face value of ₹10 each. The consistent capital base provided a solid foundation for the company's growth initiatives and operational expansion.

Regulatory Compliance

The financial results were announced in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The detailed quarterly financial results are available on stock exchange websites and the company's official website, ensuring transparency and accessibility for stakeholders and investors.

Maharashtra Seamless has released the transcript of its Q3 FY26 earnings conference call held on 29 January 2026, providing detailed insights into the company's performance and strategic initiatives. The call was hosted by ICICI Securities Limited and moderated by Mr. Vikash Singh, with Mr. Kaushal Bengani, Deputy General Manager for Investor Relations & Finance, representing the management.

Financial Performance and Margin Improvements

During the earnings call, management highlighted improved margins across both seamless pipes and ERW (Electric Resistance Welded) segments. The company reported enhanced profitability driven by inventory markdown reversals and improved product mix, particularly in the ERW segment. Management noted that the margin improvement was expected and had been communicated in the previous quarter.

Order Book and Market Position

The company maintains a robust order book of ₹1,302 crores as of 20 January 2026, with 33% comprising orders from ONGC and Oil India. This translates to approximately ₹400 crores in oil and gas sector orders. Management emphasized that despite challenging economic conditions and muted government expenditure, the company successfully replenished its order book without compromising dispatch volumes.

Capacity Expansion and Strategic Initiatives

Maharashtra Seamless has initiated two key projects from its planned capital expenditure of ₹852 crores. The cold drawn pipes project has been completed, while the finishing line project at Telangana has commenced with purchase orders worth ₹90 crores already issued. This finishing line will address the bottleneck in the company's additional 1 lakh ton production capacity.

Premium Connections and Value-Added Products

The company is developing premium connections capability through a royalty agreement with a foreign partner, with production expected to commence within six months. The premium connections market in India ranges between 50,000 to 1 lakh tons annually. Maharashtra Seamless currently manufactures four out of five key value-added product categories, excluding premium connections.

Treasury Management and Investment Strategy

Management disclosed that the company's investment portfolio generated returns exceeding 24% for the nine months ending December 2025. The total liquid investments stand at approximately ₹3,500 crores, with ₹2,957 crores invested in mutual funds. The company maintains a conservative approach, focusing on treasury management while seeking inorganic growth opportunities at appropriate valuations.

Market Outlook and Challenges

Despite continued dumping from China affecting 20-25% of the domestic seamless pipe market, Maharashtra Seamless has maintained stable dispatch volumes and improved margins. Management expects EBITDA margins to remain in the ₹10,000 to ₹15,000 per ton range, with potential improvements dependent on government expenditure patterns, particularly following the upcoming Union Budget.