Thirani Projects Limited delivered strong financial performance in the third quarter of fiscal year 2026, reporting significant growth in both revenue and profitability. The company's unaudited standalone results for the quarter ended December 31, 2025, demonstrate robust operational efficiency and improved financial metrics.

Financial Performance Overview

The company's quarterly performance showed impressive growth across key financial indicators:

Revenue Growth and Composition

Thirani Projects' revenue growth was primarily driven by interest income, which increased to ₹26.04 lakhs in Q3FY26 from ₹20.86 lakhs in the corresponding quarter of the previous year. The company's business model focuses on interest income generation, with no revenue reported from other traditional sources such as product sales, services, or rental income during the quarter.

Nine-Month Performance Analysis

The company's nine-month performance for the period ended December 31, 2025, showed even more impressive results:

Cost Management and Operational Efficiency

The company demonstrated effective cost management during Q3FY26, with total expenses decreasing to ₹9.78 lakhs compared to ₹8.69 lakhs in Q3FY25. Key expense components included employee benefits expenses of ₹4.28 lakhs and other operational expenses totaling ₹5.28 lakhs. The company reported negative finance costs of ₹1.77 lakhs during the quarter, contributing to improved profitability.

Shareholding Structure and Corporate Governance

As of December 31, 2025, Thirani Projects maintained a paid-up equity share capital of ₹2,021.29 lakhs with a face value of ₹10.00 per share. The company reported 100% public shareholding with 2,02,12,875 shares outstanding. No investor complaints were pending at the quarter end, reflecting strong corporate governance practices.

Board Approval and Audit Compliance

The Board of Directors approved the unaudited financial results at their meeting held on January 22, 2026, which commenced at 11:30 AM and concluded at 12:35 PM. The statutory auditors R.K. Kankaria & Co completed their limited review of the financial results in accordance with Regulation 33 of SEBI (LODR) Regulations, 2015, without any qualifications or adverse observations.

Thirani Projects Limited has received formal approval from the Bombay Stock Exchange (BSE) for the reclassification of APANAPAN DISTRIBUTORS LLP from the promoter group category to the public shareholder category. The approval was granted on December 18, 2025, following the company's initial application submitted in October.

BSE Approval Details

The BSE granted its no-objection for the reclassification request through its official communication dated December 18, 2025. The approval was issued under reference number LIST/COMP/KR/614/2025-26, confirming the exchange's consent for the promoter reclassification.

Regulatory Framework and Compliance

The reclassification has been processed in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The original application was submitted on October 15, 2025, demonstrating the company's commitment to regulatory compliance and transparent corporate governance.

Corporate Action Timeline

The reclassification process began with Thirani Projects' formal application to BSE in October 2025. After a thorough review process spanning approximately two months, the exchange has now granted its approval, allowing the company to proceed with the promoter group restructuring.

Implications for Shareholding Structure

With BSE's approval, APANAPAN DISTRIBUTORS LLP will now be classified as a public shareholder rather than part of the promoter group. This change affects the company's ownership structure and may have implications for corporate governance and investor relations. The entity currently holds no shares in Thirani Projects Limited.

Next Steps and Compliance Requirements

Following the BSE approval, Thirani Projects is required to ensure compliance with subsequent relevant disclosures of material events related to this reclassification. The company must adhere to the applicable provisions of Regulation 31A of SEBI LODR Regulations for all future reporting and disclosure requirements.