JK Paper (532162) Q3 25/26 earnings summary

Executive summary

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31st December 2025 were approved, with results reviewed by auditors and published as per regulatory requirements.

• Performance was adversely impacted by planned annual shutdowns at two major plants, continued cheaper imports, and sharp rupee depreciation against the Euro, affecting finance costs.

• Acquisition of Borkar Packaging Private Limited (BPPL) led to BPPL becoming a subsidiary, with shareholding increased to 71.96% during the quarter.

Financial highlights

• Standalone net revenue for Q3 FY26 was ₹1,343.26 crore, down from ₹1,358.01 crore in Q3 FY25; nine-month revenue was ₹4,124.14 crore, down from ₹4,292.67 crore year-over-year.

• Standalone net profit for Q3 FY26 was ₹12.67 crore, a sharp decline from ₹61.15 crore in Q3 FY25; nine-month net profit was ₹141.78 crore, down from ₹291.16 crore year-over-year.

• Consolidated net revenue for Q3 FY26 was ₹1,763.00 crore, up from ₹1,631.99 crore in Q3 FY25; nine-month revenue was ₹5,185.69 crore, up from ₹5,028.57 crore year-over-year.

• Consolidated net profit for Q3 FY26 was ₹27.53 crore, down from ₹65.29 crore in Q3 FY25; nine-month net profit was ₹190.84 crore, down from ₹334.93 crore year-over-year.

• Exceptional item of ₹11.85 crore (standalone) and ₹14.36 crore (consolidated) recognized due to new labour code impact.

Outlook and guidance

• The company will continue to monitor the impact of new labour codes and provide appropriate accounting effects as needed.

• The effect of the approved Composite Scheme of Arrangement will be given after filing the certified NCLT order.