News Earnings Vapi Enterprise Reports Q3FY26 Results: Net Profit Declines 21.7% to Rs. 32.96 LacsVapi Enterprise Reports Q3FY26 Results: Net Profit Declines 21.7% to Rs. 32.96 Lacs
Vapi Enterprise Limited announced Q3FY26 results showing net profit decline of 21.7% to Rs. 32.96 lacs despite stable revenue of Rs. 56.43 lacs. The company's nine-month performance remained positive with 12.6% growth in net profit to Rs. 107.91 lacs. Auditors noted compliance issues with employee benefit standards and audit trail requirements.
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Vapi Enterprise Limited has announced its unaudited financial results for the third quarter ended December 31, 2025. The company's board of directors approved these results during a meeting held on February 12, 2026, under Regulation 33 of the SEBI Listing Regulations. The board meeting commenced at 10:00 AM and concluded at 12:00 noon.
Financial Performance Overview
The company's quarterly performance showed mixed results compared to the previous year. While the nine-month period demonstrated growth, the individual quarter reflected some challenges.
| Financial Metric: | Q3FY26 | Q3FY25 | Change (%) |
|---|---|---|---|
| Total Income: | Rs. 56.43 lacs | Rs. 56.86 lacs | -0.8% |
| Total Expenses: | Rs. 10.71 lacs | Rs. 8.02 lacs | +33.5% |
| Profit Before Tax: | Rs. 45.72 lacs | Rs. 48.84 lacs | -6.4% |
| Net Profit After Tax: | Rs. 32.96 lacs | Rs. 42.09 lacs | -21.7% |
| Earnings Per Share: | Rs. 1.44 | Rs. 1.84 | -21.7% |
Revenue and Income Analysis
The company's total income for Q3FY26 stood at Rs. 56.43 lacs, showing a marginal decline of 0.8% from Rs. 56.86 lacs in Q3FY25. The entire income was derived from other operating income, as the company reported no income from primary operations during both quarters.
Expense Structure
Total expenses increased significantly by 33.5% to Rs. 10.71 lacs in Q3FY26 from Rs. 8.02 lacs in the previous year quarter. The expense breakdown revealed:
| Expense Category: | Q3FY26 | Q3FY25 |
|---|---|---|
| Employee Benefit Expenses: | Rs. 6.49 lacs | Rs. 5.30 lacs |
| Other Expenses: | Rs. 4.18 lacs | Rs. 2.52 lacs |
| Depreciation: | Rs. 0.05 lacs | Rs. 0.20 lacs |
| Finance Cost: | Nil | Nil |
Nine-Month Performance
Despite the quarterly decline, the company's nine-month performance showed positive growth trends:
| Nine-Month Metrics: | FY26 (9M) | FY25 (9M) | Change (%) |
|---|---|---|---|
| Total Income: | Rs. 178.22 lacs | Rs. 158.30 lacs | +12.6% |
| Net Profit: | Rs. 107.91 lacs | Rs. 95.87 lacs | +12.6% |
| Earnings Per Share: | Rs. 4.73 | Rs. 4.20 | +12.6% |
Tax and Profitability
The company's tax expenses for Q3FY26 increased substantially to Rs. 12.76 lacs compared to Rs. 6.75 lacs in Q3FY25. This included current tax of Rs. 12.73 lacs and deferred tax of Rs. 0.03 lacs. The higher tax burden contributed to the decline in net profit margins.
Auditor Review and Compliance Matters
The financial results were reviewed by statutory auditors M. I. Shah & Co., Chartered Accountants, who provided a limited review report. The auditors highlighted certain compliance matters, including non-compliance with Indian Accounting Standard (IndAS-19) on Employee Benefits regarding non-provisioning of employee benefits. Additionally, the company's accounting software lacks audit trail facility as required under the Companies (Audit and Auditors) Rules, 2014.
Corporate Details
Vapi Enterprise Limited, formerly known as Vapi Paper Mills Limited, maintains its registered office at 213, Udyog Mandir, Pitamber Lane, Mahim, Mumbai and operates a factory in Vapi, Gujarat. The company's paid-up equity share capital remained unchanged at Rs. 228.15 lacs with a face value of Rs. 10.00 per share. Managing Director Manoj Ramanbhai Patel signed the board meeting outcome documents.
Historical Stock Returns for Vapi Enterprise
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.95% | +4.95% | +0.57% | -11.19% | +15.45% | +279.77% |
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