Mafatlal Industries Reports Strong 9M FY26 Performance with 26.7% Revenue Growth
Mafatlal Industries Limited has released its unaudited financial results for the quarter and nine months ended December 31, 2025, highlighting steady operational performance across its business segments.
Revenue from operations for Q3FY26 stood at ₹717.4 crore. For the nine-month period, revenue rose by 26.7% year-on-year to ₹2,987.2 crore, compared with ₹2,357.5 crore in the corresponding period of the previous year. Growth was primarily driven by the Textile and Related Products segment and the Consumer Durables segment, with additional contribution from the Institutional business serving B2B and public sector customers.
The Textile and Related Products segment recorded a 15.7% increase in revenue over the same period last year. Earnings before interest and tax (EBIT) margins in this segment improved to 6.4%, up from 5.5% in 9MFY25, supported by the company’s continued focus on expanding its uniform solutions portfolio.
Within the Digital Infrastructure segment, the company completed ICT Lab projects across 333 public sector schools, including annual maintenance contracts, helping maintain stable performance in this vertical.
The moderation in quarterly revenue on a year-on-year basis was attributed to deferred execution of certain orders during the election code of conduct period in Maharashtra and Bihar. Management indicated that these delays are expected to be addressed from Q4FY26 onward.
Operating EBITDA margins remained largely stable, reflecting the company’s asset-light business approach.
During Q3FY26, following the notification of the New Labour Codes by the Ministry of Labour and Employment, the company reviewed its employee benefit obligations and recognised an estimated incremental liability of ₹2.87 crore as an exceptional item.
As of December 31, 2025, Mafatlal Industries reported an order book of approximately ₹1,200 crore, providing visibility for revenue in the coming quarters. Gross debt stood at ₹52.8 crore, compared with ₹68.3 crore as of March 31, 2025.
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Mr. Raghunath Balakrishnan - Mafatlal CEO
Commenting on the results, M. B. Raghunath, Chief Executive Officer, said the company recorded a satisfactory quarterly performance despite temporary delays caused by the election-related restrictions in Maharashtra and Bihar. He noted that margins improved during the period, reflecting the company’s operating strategy and asset-light model. He added that the nine-month performance exceeded the previous year, supported by growth in the textile and consumer durables segments, and that the company remains focused on strengthening its uniform business and pursuing value-added opportunities.