ITI (523610) Q3 2026 earnings summary

Executive summary

• Reported a consolidated net loss of Rs. 4,888 lakhs for Q3 FY2025 and Rs. 14,327 lakhs for the nine months ended December 31, 2025, with continued losses year-over-year.

• Revenue from operations for Q3 FY2025 was Rs. 51,465 lakhs, down from Rs. 54,340 lakhs in the previous quarter and Rs. 65,560 lakhs in Q3 FY2024.

• The company remains under a government-approved revival plan and is executing large defense and telecom projects.

Financial highlights

• Total revenue for Q3 FY2025 was Rs. 52,696 lakhs; for the nine months, Rs. 1,05,470 lakhs.

• Total expenses exceeded revenue, with Q3 expenses at Rs. 54,796 lakhs and nine-month expenses at Rs. 1,12,182 lakhs.

• Negative EPS for Q3 FY2025 at Rs. (0.26) and for the nine months at Rs. (1.49).

• Exceptional items included interest on delayed gratuity and privilege leave payments.

Outlook and guidance

• Management asserts going concern status based on a high-value order book (Rs. 1,854,644 lakhs), expected conversion of unbilled revenue, and continued government support.

• Project timelines, such as the ASCON Phase IV defense project, have been revised to December 2026.