Sprayking Limited has released its unaudited financial results for the quarter and nine months ended December 31, 2025, showing mixed performance with revenue growth offset by profitability challenges. The agricultural equipment manufacturer's standalone results reflect both operational improvements and margin pressures during the reporting period.

Standalone Financial Performance

The company's standalone operations demonstrated revenue resilience in Q3 FY26, with total revenue from operations reaching ₹2,089.55 lakh compared to ₹1,952.70 lakh in the corresponding quarter of the previous year.

The nine-month performance showed revenue of ₹3,484.82 lakh with a net profit of ₹24.00 lakh, indicating overall positive performance despite the quarterly loss.

Cost Structure and Expenses

The company's cost management faced challenges during Q3 FY26, with total expenses increasing to ₹2,083.74 lakh from ₹1,927.31 lakh in Q3 FY25. Material costs remained the largest expense component at ₹1,826.29 lakh compared to ₹1,848.48 lakh in the previous year quarter.

Notably, finance costs increased significantly to ₹35.16 lakh from ₹1.48 lakh, while other expenses decreased substantially from ₹182.68 lakh to ₹85.61 lakh.

Consolidated Results

The consolidated financial results, which include subsidiary Narmadesh Brass Industries Limited, showed higher revenue but greater losses. Consolidated revenue from operations reached ₹4,248.22 lakh in Q3 FY26 compared to ₹3,557.11 lakh in Q3 FY25, representing a 19.4% increase.

Earnings Per Share and Capital Structure

The company maintained its paid-up equity share capital at ₹2,113.58 lakh with a face value of ₹1.00 per share. Basic earnings per share for Q3 FY26 stood at (₹0.01) on a non-annualized basis compared to ₹0.02 in Q3 FY25. On an annualized basis, the basic EPS was (₹0.03) versus ₹0.09 in the previous year quarter.

Regulatory Compliance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 14, 2026. The results have been prepared in accordance with Indian Accounting Standard (Ind AS) 34 - Interim Financial Reporting and have undergone limited review by statutory auditors B.B. Gusani & Associates.

Sprayking Limited , a manufacturer and exporter of brass forged and turn components, has announced its unaudited financial results for the second quarter and half-year ended September 30, 2025. The company's performance shows a mixed picture, with a significant increase in consolidated net profit despite a decline in standalone revenue.

Consolidated Performance Highlights

Sprayking Limited's consolidated financial results for Q2 FY2026 reveal a substantial improvement in profitability:

The company's consolidated net profit for the quarter surged by 352.2% year-over-year, reaching Rs. 410.33 lakh, compared to Rs. 90.75 lakh in the same quarter last year. This significant increase in profitability came despite a 30.4% decline in revenue from operations, which stood at Rs. 1,966.13 lakh for Q2 FY2026.

Standalone Performance

On a standalone basis, Sprayking Limited faced challenges in revenue generation:

The company's standalone revenue from operations decreased by 68.8% to Rs. 497.69 lakh in Q2 FY2026, down from Rs. 1,594.34 lakh in the corresponding quarter of the previous year. Consequently, the standalone net profit also declined by 67.9% to Rs. 14.06 lakh.

Half-Year Performance

For the half-year ended September 30, 2025, Sprayking Limited reported the following consolidated results:

• Revenue from operations: Rs. 4,194.58 lakh
• Net profit: Rs. 475.77 lakh

The half-yearly performance shows a strong improvement in profitability compared to the previous year, despite lower revenue.

Balance Sheet Highlights

As of September 30, 2025, Sprayking Limited's consolidated balance sheet showed:

• Total assets of Rs. 10,120.53 lakh
• Equity share capital of Rs. 2,193.59 lakh
• Other equity of Rs. 1,838.52 lakh

The company maintains a diverse asset base, with significant investments in property, plant, and equipment, as well as ongoing capital work-in-progress.

Conclusion

Sprayking Limited's Q2 FY2026 results present a complex picture, with strong consolidated profit growth contrasting against declining standalone performance. The company's ability to significantly improve its bottom line on a consolidated basis, despite revenue challenges, may indicate successful cost optimization efforts or improved efficiency in its operations. Investors and analysts will likely be watching closely to see if this trend of improved profitability can be sustained in the coming quarters, especially in light of the revenue pressures faced by the standalone entity.