Starlog Enterprises Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, revealing significant challenges in operational performance. The company's Board of Directors approved these results at their meeting held on January 28, 2026.

Standalone Financial Performance

The company's standalone operations showed a marked deterioration in Q3FY26 compared to the previous year. Revenue from operations declined substantially, while the company moved from profitability to losses.

The company's expenditure structure remained elevated despite lower revenues. Employee costs increased to ₹72.95 lakhs from ₹62.66 lakhs, while operation and administration costs rose to ₹202.62 lakhs from ₹160.72 lakhs. Finance costs decreased to ₹15.45 lakhs from ₹23.45 lakhs, and depreciation declined to ₹62.34 lakhs from ₹66.21 lakhs.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, the standalone performance showed continued pressure with revenue declining to ₹596.77 lakhs from ₹983.85 lakhs in the corresponding period last year.

Consolidated Financial Results

The consolidated financial performance also reflected similar challenges, with the company reporting losses across both quarterly and nine-month periods.

For the nine-month period, consolidated revenue from operations declined to ₹746.58 lakhs from ₹1,096.50 lakhs, representing a 31.92% decrease. The consolidated net loss for nine months stood at ₹764.06 lakhs compared to a profit of ₹2,611.75 lakhs in the previous year.

Capital Structure and Corporate Actions

The company's paid-up equity share capital increased to ₹1,496.69 lakhs from ₹1,196.70 lakhs due to a preferential allotment completed in the previous quarter. The company issued and allotted 30,00,000 equity shares of face value ₹10 each at an issue price of ₹50 each, including a premium of ₹40 per share, raising ₹1,500 lakhs.

Exceptional Items and Tax Position

The company reported exceptional profit of ₹21.94 lakhs in Q3FY26, attributed to sundry balances written back. The company had no current or deferred tax expense for the quarter, with a tax credit of ₹2.19 lakhs related to earlier years. The consolidated results showed tax expenses across various categories, including current tax, deferred tax, and adjustments for earlier years.

Regulatory Compliance and Audit

The financial results have been subjected to limited review by the company's statutory auditors, Bhattacharya Das & Co., Chartered Accountants. The results were prepared in accordance with Indian Accounting Standards (Ind AS) and comply with SEBI listing regulations. The company operates in a single reportable segment and maintains its registered office at 501, Sukh Sagar, N. S. Patkar Marg, Mumbai.

Starlog enterprises has strengthened its Board governance structure with the appointment of two new Independent Directors and the reconstitution of key Board committees. The Board of Directors approved these significant changes at its meeting held on January 22, 2026, demonstrating the company's commitment to enhanced corporate governance.

New Independent Director Appointments

The company has appointed two experienced professionals as Additional Non-Executive Independent Directors, both taking effect from January 23, 2026:

Professional Backgrounds

Ms. Megha Sekharan brings extensive corporate experience to the Board. She holds a Post-Graduate degree in Commerce and is qualified as both a Company Secretary and Cost Accountant, along with certification as a Social Auditor. Her professional expertise spans over 25 years in corporate governance, compliance, finance, audit, and regulatory affairs, with significant experience working with large corporate groups and listed entities.

Mr. Pratik Kabra is an associate member of the Institute of Chartered Accountants of India, contributing over five years of specialized experience in finance and taxation to the Board's expertise.

Board Committee Reconstitution

Effective January 23, 2026, the company has reconstituted three critical Board committees to incorporate the newly appointed Independent Directors:

Audit Committee

Nomination and Remuneration Committee

Stakeholders Relationship Committee

Governance and Compliance

Both newly appointed directors satisfy the independence criteria prescribed under the Companies Act, 2013 and the SEBI Listing Regulations. Neither director is inter-se related to any other Board member, ensuring independent oversight. Additionally, both directors are not debarred from holding directorial positions by SEBI or any other regulatory authority.

The appointments were made based on recommendations from the Nomination and Remuneration Committee, following established governance protocols. The Board meeting, which commenced at 5:15 PM IST and concluded at 5:28 PM IST, was conducted in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.