Ultramarine & Pigments Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, demonstrating solid operational performance across both standalone and consolidated operations. The Board of Directors approved these results at their meeting held on February 11, 2026, following review by the Audit Committee on February 10, 2026.

Standalone Financial Performance

The company's standalone operations showed robust performance during the third quarter of FY26. Revenue from operations reached ₹17775 lakhs, while total income including other income stood at ₹18121 lakhs.

For the nine months ended December 31, 2025, standalone revenue from operations totaled ₹52729 lakhs compared to ₹46887 lakhs in the corresponding previous period. Net profit for the nine-month period reached ₹5995 lakhs against ₹5378 lakhs in the previous year.

Consolidated Financial Results

On a consolidated basis, the company's performance was equally strong. Revenue from operations for Q3FY26 stood at ₹19560 lakhs, with total income reaching ₹19903 lakhs. Net profit for the quarter was ₹2709 lakhs.

Exceptional Items and Special Developments

The results include exceptional items worth ₹426 lakhs for standalone operations and ₹423 lakhs for consolidated operations. These comprise:

• Gain of ₹577 lakhs and interest of ₹20 lakhs from compulsory acquisition of factory land by National Highway Authority of India (NHAI)
• One-time cost of ₹171 lakhs (standalone) and ₹174 lakhs (consolidated) towards Gratuity and Compensated absences liability due to new labour codes effective from November 21, 2025

The company also made a strategic investment, subscribing to 15,20,270 equity shares of Thirumalai Chemicals Ltd at ₹296 per share (including premium of ₹295 per share) on a private placement basis, with shares allotted on December 23, 2025.

Segment-wise Performance

The company operates across three main segments: Chemicals and Allied Products, IT Enabled Services, and Windmill operations.

The Chemicals and Allied Products segment remains the primary revenue driver, contributing significantly to overall profitability. The IT Enabled Services segment showed consistent performance, while the Windmill segment contributed to the renewable energy portfolio.

Financial Position and Outlook

The company maintains a strong financial position with paid-up equity share capital of ₹584 lakhs (face value ₹2 per share). Total comprehensive income for Q3FY26 was negative ₹6465 lakhs on standalone basis and negative ₹6088 lakhs on consolidated basis, primarily due to other comprehensive income adjustments related to equity instruments.

The financial results demonstrate the company's operational resilience and ability to navigate regulatory changes while maintaining growth momentum across its diversified business segments.

Ultramarine & Pigments Limited has received a GST order imposing interest and penalty totaling ₹15.09 lakh from the tax authorities. The company disclosed this development on January 2, 2026, pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

GST Order Details

The order, numbered 20251259TK00001681AO and dated December 29, 2025, was issued by the Office of the Superintendent of CGST and Central Excise Range-III, Ambattur Chennai North Commissionerate. The company received this order on December 31, 2025.

Nature of Violations

The GST order addresses two primary violations spanning multiple financial years:

IGST Related Issues:

• Non-payment of tax on supplies declared as SEZ supplies due to non-furnishing of endorsement for FY 2022-23
• Tax amount: ₹10,223 with penalty of ₹10,223

ITC Related Violations:

• Wrong availment of Input Tax Credit on invoices reflecting in Form GSTR 2A where tax was not paid by the supplier
• Period covered: FY 2018-19 to FY 2022-23
• Tax amount: ₹9,31,649 with interest of ₹4,20,522 and penalty of ₹9,31,649
• Net adjustment shows ₹7,95,182 in parentheses indicating potential credit

Company Response and Financial Impact

Ultramarine & Pigments Limited is currently evaluating the order in terms of pursuing an appeal against the GST authorities' decision. The company has indicated that it has already paid certain components of the demand.

Regarding financial implications, the company has stated that if the matter is finally decided against them, it will lead to an outflow of ₹15.09 lakh. However, management believes this amount is insignificant and will not have any material impact on the company's financial position.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations, with Company Secretary Kishore Kumar Sahoo signing the communication to BSE Limited. The company has provided detailed information as required under Para A of Part A of Schedule III under Regulation 30 of SEBI Listing Regulations.

This GST order represents ongoing tax compliance challenges faced by the company, with violations spanning a five-year period from FY 2018-19 to FY 2022-23, primarily related to SEZ supply documentation and Input Tax Credit claims.