Prashant India Ltd Reports ₹267.35 Lakh Net Loss in Q3 FY26
Prashant India Ltd reported a net loss of ₹267.35 lakhs in Q3 FY26 compared to ₹8.52 lakh loss in Q3 FY25, primarily due to finance costs of ₹259.82 lakhs. However, nine-month results showed a profit of ₹729.03 lakhs versus ₹16.68 lakh loss last year, driven by exceptional gains of ₹1020.39 lakhs from property sale. The company also noted the resignation of a non-executive director effective December 30, 2025.
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Prashant India Ltd announced its standalone unaudited financial results for the quarter ended December 31, 2025, revealing a substantial deterioration in quarterly performance despite positive nine-month results driven by exceptional gains.
Quarterly Financial Performance
The company reported a significant net loss for Q3 FY26, marking a sharp decline from the previous year quarter. The financial performance was severely impacted by increased finance costs and reduced operational income.
| Metric | Q3 FY26 | Q3 FY25 | Change |
|---|---|---|---|
| Total Income from Operations | ₹1.13 lakhs | ₹5.30 lakhs | -78.68% |
| Net Loss | ₹267.35 lakhs | ₹8.52 lakhs | Increased loss |
| Finance Costs | ₹259.82 lakhs | ₹0.00 lakhs | Significant increase |
| Basic EPS | -6.31 | -0.20 | Declined |
The company's operational income dropped substantially to ₹1.13 lakhs in Q3 FY26 from ₹5.30 lakhs in Q3 FY25. Net sales from operations remained at zero, while other operating income decreased to ₹1.13 lakhs from ₹4.88 lakhs year-on-year.
Nine-Month Performance Highlights
Despite the poor quarterly showing, the nine-month period ended December 31, 2025, presented a contrasting picture due to exceptional items.
| Parameter | Nine Months FY26 | Nine Months FY25 | Change |
|---|---|---|---|
| Total Income | ₹9.06 lakhs | ₹22.54 lakhs | -59.81% |
| Net Profit/(Loss) | ₹729.03 lakhs | ₹-16.68 lakhs | Turned profitable |
| Exceptional Items | ₹1020.39 lakhs | ₹0.00 lakhs | New addition |
| Basic EPS | 17.21 | -0.39 | Significantly improved |
The nine-month profitability was primarily driven by exceptional items worth ₹1020.39 lakhs, representing gains from the sale of factory land and building of the textile division at Palsana, Surat.
Segment-wise Analysis
The company operates in two main segments - textile and wind farm operations. Both segments showed mixed performance during the reporting period.
Textile Segment:
- Q3 FY26 revenue: ₹0.00 lakhs vs Q3 FY25: ₹4.83 lakhs
- Nine-month FY26 revenue: ₹5.93 lakhs vs FY25: ₹13.74 lakhs
- Segment result improved significantly due to exceptional gains
Wind Farm Segment:
- Q3 FY26 revenue: ₹0.00 lakhs vs Q3 FY25: ₹0.42 lakhs
- Nine-month FY26 revenue: ₹0.86 lakhs vs FY25: ₹8.71 lakhs
- Continued to report segment losses
Balance Sheet Position
As of December 31, 2025, the company's financial position showed:
| Item | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| Total Assets | ₹185.43 lakhs | ₹257.24 lakhs |
| Equity Share Capital | ₹423.54 lakhs | ₹423.54 lakhs |
| Other Equity | ₹-3015.78 lakhs | ₹-3744.81 lakhs |
| Short-term Borrowings | ₹2769.66 lakhs | ₹3460.59 lakhs |
Corporate Governance Update
The board meeting held on February 11, 2026, noted the resignation of Mr. Haribhai Becharbhai Malvia (DIN: 00042683) as Non-Executive Non-Independent Director, effective from the close of business hours on December 30, 2025. The board also approved the standalone unaudited financial results and noted the limited review report issued by statutory auditors M/s. Ashish Bhoola & Co.
The company continues to face challenges with negative equity of ₹2592.24 lakhs and substantial short-term borrowings, though the reduction in borrowings from ₹3460.59 lakhs to ₹2769.66 lakhs indicates some debt management efforts.
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