Polyspin Exports Limited announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results at their meeting held on February 13, 2026, which commenced at 11:00 AM and concluded at 11:40 AM.

Standalone Financial Performance

The company's standalone operations showed mixed performance during the third quarter of FY26. Revenue from operations declined to ₹5,379.25 lakhs compared to ₹5,460.60 lakhs in the corresponding quarter of the previous year, representing a decrease from the prior year period.

Despite the revenue decline in the quarter, the company managed to improve its profitability. Net profit after tax from continuing operations increased significantly to ₹60.60 lakhs in Q3 FY26 from ₹30.86 lakhs in Q3 FY25. This improvement in profitability was reflected in the basic earnings per share, which rose to ₹0.61 from ₹0.31 in the corresponding previous quarter.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Polyspin Exports demonstrated stronger performance. Revenue from operations increased to ₹17,002.53 lakhs compared to ₹16,479.21 lakhs in the corresponding nine-month period of the previous year. Total income for the nine months reached ₹17,256.73 lakhs, up from ₹16,778.18 lakhs in the previous year.

The company's profitability remained stable during the nine-month period, with net profit after tax from continuing operations at ₹339.69 lakhs compared to ₹334.93 lakhs in the previous year. Basic earnings per share for the nine months stood at ₹3.40, marginally higher than ₹3.35 in the corresponding period of FY25.

Consolidated Results and Associate Contribution

The consolidated financial results showed similar trends to the standalone performance. For Q3 FY26, consolidated total income was ₹5,461.92 lakhs, while net profit after tax from continuing operations was ₹49.40 lakhs. However, the consolidated results benefited significantly from the share of profit from associates.

The associate company contribution added ₹75.20 lakhs to the quarterly profit and ₹178.21 lakhs to the nine-month profit, significantly enhancing the consolidated earnings per share to ₹5.07 for the nine-month period.

Operational and Regulatory Updates

The company continues to focus on its FIBC (Flexible Intermediate Bulk Container) operations after discontinuing its textile division during the second quarter of FY25. All assets of the textile division have been completely disposed of, and the company no longer reports segment-wise performance as per IND AS 108.

Polyspin Exports has adopted the concessional income tax rate of 22% plus applicable surcharge and cess as per Section 115BAA. The company had no MAT credit to be reversed as mandated by this section. The financial statements have been prepared in accordance with Indian Accounting Standards (IND AS) prescribed under the Companies Act, 2013.

Financial Position and Capital Structure

The company maintained a stable capital structure with paid-up equity share capital of ₹500.00 lakhs, consisting of shares with a face value of ₹5 each. Standalone networth increased to ₹5,819.64 lakhs as of December 31, 2025, compared to ₹5,331.94 lakhs in the previous year. On a consolidated basis, networth reached ₹6,840.32 lakhs, reflecting the company's strengthened financial position.

Polyspin Exports Limited has received a tribunal order regarding a duty demand case worth ₹3.31 crores. The company informed BSE on December 27, 2025, about the development in the ongoing litigation under Regulation 30 of SEBI Listing Regulations.

Tribunal Order Details

The Customs, Excise and Service Tax Appellate Tribunal issued its final order and disposed of the appeal on December 26, 2025, which the company received at 3:30 PM the same day. The tribunal's decision includes two key components:

Background of Duty Demand

The duty demand of ₹3.31 crores relates to the consumption of raw materials in production over and above the Standard Input Output Norm (SION) fixed by the DGGT. Polyspin Exports had filed an appeal with the tribunal in 2016 against the demand raised by the Commissioner of Central Excise, Tirunelveli.

Show Cause Notices Breakdown

The total duty demand comprises six separate show cause notices spanning from June 2008 to March 2015:

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and SEBI Circular dated July 13, 2023. Company Secretary and Compliance Officer A. Emarajan signed the regulatory filing on December 27, 2025.

Next Steps

With the matter remanded back to the Original Adjudicating Authority, the case will undergo fresh consideration. The tribunal has emphasized strict compliance with principles of natural justice and mandated that sufficient opportunity for hearing be provided to the appellant. Polyspin Exports is permitted to raise all contentions before the adjudicating authority during the fresh proceedings.