MPS Q3 FY26 results: revenue ₹1,824.9 crore, profit ₹355

Board clears Q3FY26 numbers

MPS Limited informed exchanges that its Board of Directors met on 2 February 2026 and approved the company’s unaudited financial results for the third quarter and nine months ended 31 December 2025. The outcome was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board approval covered both standalone and consolidated results, based on the Audit Committee’s recommendation. The company also said it took on record the limited review report issued by its statutory auditors. Alongside the financial results, the board handled certain governance items, including amendments to internal codes and a director resignation.

What the exchange filing said

In its disclosure, the company said it approved and took on record the unaudited financial results for Q3 and the nine-month period ended 31 December 2025. The filing also stated that the statutory auditor, Walker Chandiok & Co LLP, issued a limited review report on the results, and the board noted the report. The limited review report refers to the standalone unaudited financial results for the quarter ended 31 December 2025 and year-to-date results from 1 April 2025 to 31 December 2025, submitted under Regulation 33 of the listing regulations. The company also referred to consolidated results covering the holding company and its subsidiaries.

Key quarterly numbers disclosed

A results summary circulated with the filing showed a mixed operating picture in the quarter ended 31 December 2025. Consolidated revenue was stated at ₹1,824.90 crore in Q3FY26 compared with ₹1,863.60 crore in Q3FY25, a decline of 2.07%. Consolidated net profit was stated at ₹355.00 crore compared with ₹407.10 crore, a decline of 12.80%. Basic earnings per share (EPS) were reported at ₹20.93 versus ₹24.00, and diluted EPS at ₹20.91 versus ₹23.99. Separately, the same material also referenced “consolidated revenue growth of 20% year-over-year”, but the quarter-on-quarter comparison table provided alongside the numbers indicates a year-on-year decline based on the stated Q3FY25 base.

Standalone quarter performance snapshot

On a standalone basis, MPS reported revenue from operations of ₹1,081.20 crore for Q3FY26 compared with ₹900.90 crore in the corresponding quarter of the previous year, reflecting growth of 20.01% on the figures cited. The exchange outcome specifically mentions that both standalone and consolidated results were approved. The filing does not provide additional line items in the narrative extract beyond revenue for the standalone quarter, and it does not include management commentary in the text provided. Investors typically track standalone and consolidated performance differently for companies with overseas subsidiaries and acquired businesses, and the company’s disclosure includes both.

Exceptional item linked to new Labour Codes

The company also disclosed exceptional items of ₹73.80 crore (net) for Q3FY26, primarily linked to the implementation of new Labour Codes notified by the Government of India on 21 November 2025. The incremental impact, as stated, included gratuity provisions of ₹52.40 crore and long-term compensated absences of ₹17.80 crore. The exceptional item disclosure is important because it can affect comparability of profits across periods, particularly if investors are assessing underlying performance excluding one-off provisions. The material shared does not detail whether these provisions were booked entirely in the quarter or how they might be treated in future periods.

Governance updates: code amendment and director resignation

Beyond numbers, the board approved amendments to the company’s Code of Conduct. The exchange summary also refers to a policy amendment described as an amendment to the insider trading code. In addition, the company acknowledged the resignation of Ms. Yamini Tandon as a Non-Executive Director, effective 2 February 2026, citing personal reasons in the shared extract. The combination of policy changes and a board change was communicated alongside the results outcome, consistent with how listed companies bundle material updates in a board meeting disclosure.

Auditor’s limited review and compliance disclosures

MPS said the limited review report was issued by Walker Chandiok & Co LLP, Chartered Accountants (Firm Registration No. 001076N/N500013). The limited review covers the unaudited financial results and is distinct from an audit opinion on annual accounts. The filing references the results being submitted pursuant to Regulation 33 of the SEBI listing regulations. The disclosure also includes the statutory auditor’s review language and the fact that both standalone and consolidated statements were reviewed. For investors, the presence of a limited review report is a standard requirement for quarterly results, signalling that the numbers have undergone prescribed review procedures.

FY2025 context from the annual report

The company’s 55th annual report for the year ended 31 March 2025 provides context for the latest quarterly disclosure. For FY2025, standalone revenue from operations was reported at ₹351.34 crore (₹35,133.52 lakh) versus ₹327.57 crore (₹32,756.74 lakh) in FY2024. Consolidated revenue from operations was reported at ₹726.89 crore (₹72,688.85 lakh) versus ₹545.31 crore (₹54,530.65 lakh) in FY2024. The company also reported FY2025 standalone total comprehensive income of ₹111.16 crore (₹11,115.71 lakh) and consolidated total comprehensive income of ₹152.56 crore (₹15,256.01 lakh). It also stated there was no change in the nature of business during FY2025.

Dividend and payout details for FY2025

MPS reported that, in addition to an interim dividend, the board recommended a final dividend of ₹50 per equity share (face value ₹10) for FY2024-25 at its meeting held on 16 May 2025. The annual report stated the record date as 13 August 2025, and that the proposed dividend would be paid within 30 days from the date of the AGM, subject to shareholder approval. It also stated that the total dividend payout for FY2024-25, including the proposed final dividend, amounted to ₹83 per equity share and would involve a total outflow of ₹141.98 crore (₹14,197.83 lakh). These details matter because they indicate capital return policy and cash outflows alongside operating performance.

Key figures at a glance

Why this update matters for investors

The February 2026 board outcome combines three investor-relevant elements: quarterly performance, exceptional items, and governance changes. The quarter’s consolidated revenue and profit figures, as presented, suggest pressure versus the comparable quarter, while standalone revenue growth was reported higher on the cited numbers. The exceptional item linked to Labour Codes is a notable disclosure because it directly relates to employee cost provisioning and can create a step change in reported profitability for the quarter. Separately, changes to internal codes and a non-executive director resignation are part of routine governance reporting, but they still affect how investors track board composition and compliance.

Conclusion

MPS Limited’s 2 February 2026 board meeting resulted in the approval of unaudited Q3FY26 and nine-month financial results, recognition of the statutory auditor’s limited review report, an update to internal codes, and the resignation of Non-Executive Director Ms. Yamini Tandon. The company also disclosed a ₹73.80 crore net exceptional item tied to Labour Codes notified on 21 November 2025. Investors will watch subsequent filings for fuller financial statement details and any additional disclosures accompanying future quarterly results and governance updates.