Comfort Intech Limited Q3 FY26 Concall Decoded:53% QoQ revenue jump, EBITDA resurrection, and a liquor pivot doing the heavy lifting

1. Opening Hook

While most microcaps are still blaming macros, funding winters, and destiny itself, Comfort Intech casually flipped the switch from losses to profits in one quarter. Q3 FY26 didn’t just improve—it respawned. EBITDA went from negative to positive, profits staged a dramatic comeback, and management suddenly sounds like it found religion in operating discipline.

But before anyone orders celebratory whisky (ironically, Comfort sells that now), remember: this quarter was powered by execution, not excuses. The liquor bet is bold, the trading business is back, and the narrative has finally shifted from “turnaround hope” to “prove it again.”

Stick around. The real story is why this quarter may not be a one-off.

2. At a Glance

Revenue ₹6,592.5 lakh (+53% QoQ) – Growth hit fast-forward without asking permission.
EBITDA ₹112 lakh vs –₹17 lakh – From ICU to gym membership in one quarter.
PAT ₹56 lakh vs –₹68 lakh – Losses evicted, profits moved in quietly.
Liquor capacity 1.56 mn cases/year – Real assets, not just PowerPoint.
Two-core verticals – Trading feeds cash, liquor builds brand muscle.

3. Management’s Key Commentary

“Revenue increased by 53.22% QoQ.”
(Translation: Something finally worked, and it worked fast.) 😏

“EBITDA turned positive at ₹112.01 lakh.”
(Translation: Cost control entered the chat.)

“Strategic acquisition of Liquors India Limited.”
(Translation: Backward integration, real margins, real risk.)

“Licensed capacity of 1.56 million cases per year.”
(Translation: No shortage of scale if demand shows up.)

“Focus on premium and semi-premium whisky.”
(Translation: Margins matter more than volumes now.)

“Expansion across Telangana, AP, Karnataka, TN, Kerala.”
(Translation: South India first, because regulations are… manageable.) 😌

4. Numbers Decoded

Source table

Metric	Q2 FY26	Q3 FY26	What It Really Means
Revenue (₹ lakh)	4,302.6	6,592.5	Trading + liquor both clicked
EBITDA (₹ lakh)	-17.1	112.0	Structural turnaround
PAT (₹ lakh)	-68.0	56.1	Not cosmetic, operational
QoQ Revenue Growth	—	+53.2%	Aggressive execution
EBITDA Swing	—	+755%	Base was ugly, recovery strong

This is not margin expansion—it’s margin creation.

5. Analyst Questions

Q: Is this turnaround sustainable?
(A: Depends on liquor execution,

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