Mukul Agrawal stock crashes 18% after its net profit declines by 53% in Q3

SYNOPSIS: IFB Industries reported Q3 FY26 revenue growth driven by home appliances and engineering segments, but a sharp sequential and annual decline in net profit weighed on sentiment despite steady demand across segments.

During Tuesday’s trading session, shares of a company operating two businesses, manufacturing of consumer durables and producing fine blank components, crashed nearly 18 percent on BSE, after its Q3 FY26 net profit more than halved sequentially and fell 23 percent YoY.

At 12:27 p.m., shares of IFB Industries Limited were trading in red at Rs. 1156.85 on BSE, down by over 14 percent, compared to its previous closing price of Rs. 1,352.2, with a market cap of Rs. 4,687.4 crores. The stock has delivered negative returns of around 27 percent in the last one year, and has fallen by over 26 percent in the last one month.

Financial Performance for Q3 FY26

IFB Industries Limited announced the financial results for the third quarter of FY26 on Saturday, as per the latest regulatory filings with the stock exchanges. For the quarter, the company posted a consolidated revenue from operations of Rs. 1,412.5 crores, reflecting a sequential growth of around 3 percent QoQ compared to Rs. 1,370.4 crores in Q2 FY26. Likewise, on a year-on-year basis, revenue grew over 11 percent from Rs. 1,269.5 crores recorded in Q3 FY25.

Net profit for the quarter stood at Rs. 24 crore, more than halving on a quarter-on-quarter basis by around 53 percent from Rs. 51 crore in Q2 FY26. On a year-on-year basis, profit declined by around 23 percent from Rs. 31 crore reported in Q3 FY25. The sequential and year-on-year decline in profitability may have weighed on investor sentiment, potentially contributing to the stock’s decline during today’s trading session.

Revenue Mix & More

For the quarter ended December 2025, Home Appliances remained the largest contributor to revenue, generating Rs. 1,118 crore and accounting for about 77.5 percent of total segment revenue, compared with Rs. 1,018 crore in December 2024, reflecting a growth of nearly 9 percent YoY. The Engineering segment reported revenue of Rs. 258.55 crore, contributing around 18 percent, up from Rs. 220.3 crore a year earlier, marking a growth of about 17.4 percent.

The Motor segment contributed Rs. 19 crore, or roughly 1.3 percent of total revenue, compared with Rs. 15.25 crore in December 2024, registering a year-on-year increase of around 22.6 percent. The Steel segment recorded revenue of Rs. 47.7 crore, accounting for about 3.3 percent of the total, marginally higher than Rs. 46.64 crore reported in the same quarter last year. 

As per the December 2025 shareholding pattern, the ace investor Mukul Mahavir Agrawal holds a 1.23 percent stake, equivalent to 5 lakh equity shares, in the company.

IFB Industries Limited is engaged in the business of manufacturing fine blanked and stamping components, manufacturing and trading of home appliances and the manufacture of cold rolled steel strips and motors.

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