Rishabh Instruments Limited has delivered exceptional financial performance in Q3FY26, with consolidated net profit surging 138% to ₹200 million and EBITDA more than doubling to ₹315 million. The company demonstrated strong operational leverage with EBITDA margin expanding significantly to 17.16% from 7.89% in the corresponding quarter last year.

Consolidated Financial Performance

The company's consolidated operations showed robust growth across key financial metrics. Revenue reached ₹1.84 billion compared to ₹1.8 billion in the year-ago quarter, while the substantial improvement in profitability metrics reflects enhanced operational efficiency and strong business execution.

Management Commentary and Business Outlook

Commenting on the Q3 and 9MFY26 results, Mr. Dineshkumar Musalekar, Whole Time Director, highlighted the company's diversified growth strategy. "Our consolidated revenue grew 1.30% YoY in Q3FY26 and 7.00% in 9MFY26, supported by product expansion and steady demand across key markets. Consolidated EBITDA margins expanded by 920 bps, with EBITDA increasing 119.50% YoY in Q3FY26, driven by sourcing efficiencies, operational improvements, and operating leverage."

Operational Excellence and Strategic Initiatives

The standout performance was driven by significant margin expansion, with EBITDA margin improving by over 900 basis points year-on-year. Rishabh Standalone revenue increased 3.10% YoY in Q3FY26 and 10.60% YoY in 9MFY26 respectively, led by strong export growth. Continued cost optimization resulted in a standalone adjusted EBITDA margin of 26.30% in Q3FY26.

Lumel SA delivered strong growth of approximately 22.40% YoY in Q3FY26, supported by product diversification and geographic expansion. The EEI business recorded robust growth, with revenue up 17.70% in Q3FY26 and 14.00% in 9MFY26, alongside strong EBITDA expansion.

Board Meeting and Results Approval

Rishabh Instruments Limited conducted its board meeting on February 5, 2026, to consider and approve the quarterly financial results. The meeting was held through video conferencing from 2:30 PM to 3:40 PM IST, in accordance with regulatory requirements under SEBI listing obligations. The company subsequently released a comprehensive results presentation on February 6, 2026, providing detailed insights into its financial performance and strategic direction.

Global Expansion and Future Growth

The company remains confident in its growth trajectory, supported by a diversified business model and expanding global footprint across the Middle East, South Africa, South America, and Southeast Asia, where it is seeing encouraging traction. The HPDC business saw a planned revenue decline due to the phased exit from loss-making legacy contracts; however, 9MFY26 EBITDA improved to ₹64 million from a loss of ₹151 million last year, in line with expectations.

Rishabh instruments Limited has notified stock exchanges regarding a structural change in its statutory auditor's firm. The company informed the National Stock Exchange of India Limited and BSE Limited on January 27, 2026, about the conversion of its auditing firm from a traditional partnership to a Limited Liability Partnership structure.

Auditor Firm Conversion Details

The statutory auditors M S K A & Associates, Chartered Accountants have converted their firm into a Limited Liability Partnership under the provisions of the Limited Liability Partnership Act, 2008. Following this conversion, the firm is now operating under the name M S K A & Associates LLP, Chartered Accountants.

Continuity of Audit Engagement

Rishabh Instruments Limited has confirmed that this structural conversion does not impact the existing audit engagement in any manner. The newly formed LLP will continue to function and discharge all obligations as statutory auditors for the remaining period of their appointment tenure. This ensures continuity in the company's audit processes and compliance requirements.

Regulatory Compliance

The intimation was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Ajinkya Joglekar, with ICSI Membership No. A57272, signed the notification digitally on January 27, 2026.

The conversion represents a structural change in the auditor's business organization while maintaining the same professional standards and audit engagement terms with Rishabh Instruments Limited.