Board approves Q2 and H1 results; auditor review conclusion unmodified
Board of Faze Three met on November 03, 2026 and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 264.58 | 206.98 | +27.8% | 229.39 | +15.3% |
| Total income | 267.82 | 207.22 | +29.2% | 235.10 | +13.9% |
| Profit before tax | 20.97 | (6.65) | — | 13.38 | +56.7% |
| Profit after tax | 15.46 | (5.20) | — | 9.64 | +60.4% |
| Total comprehensive income | 15.43 | (5.23) | — | 9.52 | +62.1% |
| Basic EPS | 6.37 | (2.14) | — | 3.96 | +60.9% |
- Total income
- Latest 267.82; Year ago 207.22 (+29.2%); Prev qtr 235.10 (+13.9%)
- Profit after tax
- Latest 15.46; Year ago (5.20); Prev qtr 9.64 (+60.4%)
- Period
- Quarter Ended September 30, 2026
Auditor's review
Conclusion: Unmodified
Notes to the results
- During the half year ended September 30, 2026, the company granted 3,31,154 stock options under the Faze Three Employee Stock Option Scheme 2024.
- During the quarter ended September 30, 2026 the Holding Company issued 2,78,840 equity shares to Faze Three Employee Trust at face value of ₹10 each.
Board meeting outcome
Faze Three's Board met on November 03, 2026, from 05:00 PM to 05:39 PM, and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. The audit committee reviewed, and the Board approved, both sets of results, which carry independent review reports from MSKA & Associates, the statutory auditors. A limited review is narrower than a full audit; it checks the numbers through enquiries and analytical review rather than a full audit examination.
Auditor's conclusion
The auditors state that nothing has come to their attention that causes them to believe the statements contain a material misstatement or fail the disclosures required under the regulations - an unmodified conclusion. For one subsidiary that they did not review, they relied on the report of another auditor; their conclusion is not modified for that reliance.
Quarter in numbers (standalone)
- 'Revenue from operations' was ₹ 247.34 crore for the quarter.
- 'Profit for the period' was ₹ 11.74 crore, against a loss in the same quarter a year earlier.
Quarter in numbers (consolidated)
- 'Revenue from operations' was ₹ 264.58 crore for the quarter.
- 'Profit for the period' was ₹ 15.46 crore, against a loss of ₹ (5.20) crore in the same quarter a year earlier.
Half year
Consolidated 'Profit for the period' for the half year ended September 30, 2026 was ₹ 25.10 crore. The consolidated numbers cover the holding company, two wholly owned subsidiaries - Faze Three US LLC, USA and Mats and More Private Limited, India - and the Faze Three Employee Trust, an employee welfare trust.
Employee stock options
During the half year, the company granted 3,31,154 stock options under the Faze Three Employee Stock Option Scheme 2024 to eligible employees. Each option is exercisable into one equity share of face value ₹10 each. In simple terms, an option is a right given to employees to take shares in future at set terms; it is a reward and retention tool, and the related expense is already part of the reported numbers.
Shares issued to the employee trust
During the quarter, the company issued 2,78,840 equity shares to the Faze Three Employee Trust at face value of ₹10 each. The trust holds shares for employee benefit, and such trust-held shares are excluded while computing basic and diluted earnings per share.
What the reader can take away
- Both standalone and consolidated results are unaudited and independently reviewed, with an unmodified conclusion.
- The business runs in a single reportable segment - manufacturing and export of home textiles such as bathmats, rugs, blankets, throws and cushions.
- The quarter's profit at both standalone and consolidated level compares with a loss in the same quarter a year earlier, a swing back into profit.
- The result set also includes a balance sheet and cash flow statement for the half year, showing how funds were generated and used across operations, investing and financing activities.
- Employee-related issuances (options and trust shares) affect the share count and are worth tracking over coming quarters.
Also from Faze Three
Faze Three Q2 FY27 presentation: total income up 29.1% to INR 267.8 Crs, PAT of INR 15.5 Crs
3 Nov 2026
Board meet on November 3 to consider and approve September quarter results
29 Oct 2026
Dun & Bradstreet publication carries interview of President on exports, capacity and growth priorities
3 Oct 2026
More numbers
- Revenue from operations, standalone - quarter₹ 247.34 crore
- Profit for the period, standalone - quarter₹ 11.74 crore
- Profit for the period, consolidated - half year₹ 25.10 crore
- Stock options granted under ESOS 2024 during the half year3,31,154
- Equity shares issued to Faze Three Employee Trust2,78,840
- Total income, latest quarter267.82 (₹ in Crores)
- Total income, year-ago quarter207.22 (₹ in Crores)
- Total income, previous quarter235.10 (₹ in Crores)
- Total comprehensive income, latest quarter15.43 (₹ in Crores)
- Total comprehensive income, year-ago quarter(5.23) (₹ in Crores)
- Total comprehensive income, previous quarter9.52 (₹ in Crores)
- Profit after tax, latest quarter15.46 (₹ in Crores)
- Profit after tax, year-ago quarter(5.20) (₹ in Crores)
- Profit after tax, previous quarter9.64 (₹ in Crores)
- Revenue from operations, latest quarter264.58 (₹ in Crores)
- Revenue from operations, year-ago quarter206.98 (₹ in Crores)
- Revenue from operations, previous quarter229.39 (₹ in Crores)
- Profit before tax, latest quarter20.97 (₹ in Crores)
- Profit before tax, year-ago quarter(6.65) (₹ in Crores)
- Profit before tax, previous quarter13.38 (₹ in Crores)
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