Vaswani Industries Limited's Board of Directors approved the unaudited standalone financial results for Q3FY26 at their meeting held on February 28, 2026. The company reported a significant net loss of ₹796.42 lakhs for the quarter ended December 31, 2025, marking a dramatic shift from the profit of ₹176.98 lakhs recorded in the corresponding quarter of the previous year.

Board Meeting and Regulatory Compliance

The Board meeting commenced at 4:30 p.m. and concluded at 6:30 p.m. on February 28, 2026. In compliance with Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company submitted its unaudited standalone financial results along with the Limited Review Report issued by statutory auditors to both BSE and NSE.

Financial Performance Overview

The company's Q3FY26 results present a mixed picture with revenue growth overshadowed by substantial losses:

Despite achieving revenue growth of 21.36%, the company faced significant cost pressures that resulted in the substantial loss. Total expenses increased by 27.00% to ₹12,716.45 lakhs compared to ₹10,013.38 lakhs in Q3FY25.

Expense Analysis and Cost Pressures

The company experienced significant increases across multiple expense categories:

The most notable increase was in finance costs, which more than doubled, and other expenses, which rose by 64.42%.

Segment-wise Performance Analysis

The company's two primary business segments showed contrasting performance:

The Power segment demonstrated strong performance with revenue more than doubling and segment results improving significantly. However, the Iron & Steel segment, despite revenue growth, reported a substantial segment loss.

Operational Developments and Tax Impact

During the quarter, the company capitalized a solar plant of 50.00 MW and induction furnaces, leading to higher depreciation charges under the Income Tax Act. This capitalization resulted in negative provision for taxation for the quarter due to increased depreciation benefits. The company's paid-up share capital stood at ₹3,294.62 lakhs, with earnings per share (both basic and diluted) at (₹2.48) compared to ₹0.58 in Q3FY25.

Nine-Month Performance

For the nine months ended December 31, 2025, the company reported revenue from operations of ₹32,348.47 lakhs compared to ₹29,623.36 lakhs in the corresponding period of the previous year. However, the company recorded a net loss of ₹115.04 lakhs for the nine-month period against a profit of ₹661.74 lakhs in the previous year, indicating sustained operational challenges throughout the period.

Vaswani Industries Limited has notified stock exchanges about the postponement of its unaudited financial results for the third quarter of fiscal year 2025-26, citing technical difficulties with its accounting systems.

Board Meeting Postponement Details

The company's board meeting, originally scheduled for February 13, 2026, was adjourned to February 14, 2026, but could not be concluded as planned. The meeting was convened to consider the unaudited standalone financial results for the quarter ended December 31, 2025.

Technical Issues Behind the Delay

The delay stems from recent updates and maintenance activities conducted on the company's SAP accounting system. These activities led to certain technical difficulties in finalizing the accounting data, which were identified during the review process by the statutory auditors.

The company explained that the SAP system maintenance created complications that prevented the proper completion of financial data compilation, making it impossible to declare the results as scheduled.

Next Steps and Timeline

Vaswani Industries has outlined its immediate action plan to address the situation:

• A new board meeting will be convened within 14 days to consider and approve the financial results
• Due intimation will be provided to stock exchanges regarding the new meeting date
• The trading window will remain closed until 48 hours after the declaration of financial results

Regulatory Compliance

The notification was issued in continuation of the company's earlier intimation dated February 06, 2026, pursuant to Regulation 29(1) of the SEBI (LODR) Regulations, 2015. Company Secretary Sakshi Agrawal signed the official communication to both BSE Limited and National Stock Exchange of India Limited.

The company has expressed regret for the delay and apologized for any inconvenience caused to stakeholders, emphasizing its commitment to resolving the technical issues promptly.