Carysil shares jump over 5% as Q3 profit surges 68% on margin expansion

Shares of Carysil Limited rose more than 5% after the company reported a strong set of earnings for the December quarter, with net profit jumping 68% year-on-year to ₹21 crore, aided by operating leverage and margin expansion, despite modest revenue growth.

In an exchange filing on Wednesday, February 4, Carysil said revenue from operations rose 9.6% YoY to ₹222.6 crore in Q3FY26, compared with ₹203 crore in the same quarter last year. EBITDA surged 46.2% YoY to ₹42 crore from ₹28.8 crore, while EBITDA margin expanded sharply to 18.9% from 14.2% a year ago.

The improvement in profitability was driven by better cost efficiencies and operating leverage, with margins expanding even as topline growth remained in single digits.

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Separately, the company informed exchanges that ICRA, the monitoring agency appointed for its Qualified Institutions Placement (QIP), reported no material deviation in the utilisation of funds raised through the issue. Carysil had raised ₹125 crore via the QIP in July 2024, with net proceeds of ₹121.65 crore after issue-related expenses.

As of December 31, 2025, the company had utilised ₹82.52 crore of the QIP proceeds, primarily towards capital expenditure for new manufacturing facilities, working capital requirements and general corporate purposes. The remaining unutilised amount of ₹39.13 crore has been parked in fixed deposits and cash credit accounts, as per the monitoring report.

ICRA noted that the utilisation of funds remains in line with the stated objects of the issue and that there were no delays or adverse events impacting the execution of the company’s expansion plans.

Shares of the company surged over 5% following the Q3 result announcement and were trading at ₹1,006.80 as of 3.12 pm. The stock has grown 44% in the past year.