Xpro India Limited announced its unaudited standalone and consolidated financial results for Q3 FY26 ended December 31, 2025, through a regulatory filing under SEBI Regulations 30 and 33. The polymer processing company's Board of Directors approved the quarterly results at their meeting held on February 4, 2026, presenting a mixed performance with revenue growth offset by declining net profitability.

Financial Performance Overview

The company's quarterly performance showed contrasting trends across different financial metrics:

Revenue from operations increased marginally by 1.68% to ₹10,631.38 lacs compared to ₹10,455.39 lacs in Q3 FY25. Total income, including other income of ₹429.04 lacs, reached ₹11,060.42 lacs, up from ₹10,907.26 lacs in the corresponding quarter last year.

Profitability and Cost Structure Analysis

Despite revenue growth, the company experienced pressure on bottom-line profitability. Net profit declined to ₹873.31 lacs from ₹968.05 lacs in Q3 FY25, representing a decrease of 9.78%. The profit before tax stood at ₹1,171.16 lacs compared to ₹1,288.28 lacs in the previous year.

Key expense components showed varied trends:

Nine-Month Performance Analysis

The nine-month period ended December 31, 2025, revealed more pronounced challenges:

Foreign Exchange Impact

The company experienced notable foreign exchange fluctuations during the quarter. Unrealized foreign exchange gains of ₹72.52 lacs and realized gains of ₹47.97 lacs contributed positively to the results. However, for the nine-month period, unrealized foreign exchange losses of ₹963.18 lacs significantly impacted profitability, primarily due to Euro-denominated borrowings affected by EUR/INR exchange rate movements.

Corporate Governance Development

The Board of Directors approved the re-appointment of Sri Sidharth Birla as Chairman in whole-time employment for a three-year term from March 1, 2026, to February 28, 2029, subject to shareholder approval. Sri Birla, with 47 years of industry experience and an MBA from IMEDE, Lausanne, Switzerland, originally founded the company's business activities in 1983.

Regulatory Compliance and Audit

The unaudited financial results were reviewed by Walker Chandiok & Co LLP, the company's statutory auditors, who conducted a limited review in accordance with Standard on Review Engagements (SRE) 2410. The Board meeting commenced at 11:45 a.m. and concluded at 3:35 p.m. on February 4, 2026.

Xpro India Limited has received a credit rating update from India Ratings and Research Pvt. Ltd., with the rating agency taking specific actions on the company's bank loan facilities. The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Rating Actions Overview

India Ratings and Research Pvt. Ltd. has taken comprehensive rating actions covering the company's banking facilities. The rating agency has both assigned new ratings and affirmed existing ones, reflecting their assessment of Xpro India's creditworthiness.

The rating actions cover a total banking facility exposure of ₹195.00 crores, with the IND A-/Stable/IND A1 rating being consistently applied across both new assignments and existing affirmations.

Rating Significance

The IND A-/Stable/IND A1 rating represents India Ratings' assessment of the company's credit quality. The 'A-' rating indicates adequate credit quality with moderate credit risk, while the 'Stable' outlook suggests that the rating is likely to remain unchanged over the medium term. The IND A1 component typically relates to short-term debt instruments, indicating strong capacity for timely payment of short-term financial commitments.

Regulatory Compliance

The rating disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed companies to inform stock exchanges about material events and information. Company Secretary Kamal Kishor Sewoda signed the communication on January 14, 2026, ensuring compliance with regulatory requirements.

The notification was simultaneously sent to both the National Stock Exchange of India Ltd. and BSE Limited, covering the company's listing obligations across both major Indian stock exchanges where Xpro India trades under the symbol XPROINDIA.