Date: 20th July, 2026

Financial Results (Consolidated)

FY2026 Performance:

  • Total Revenue: ₹104.26 Crores (FY2025: ₹27.19 Crores) - +283% YoY growth
  • Revenue Composition:
  • Fees & Commission: ₹10.70 Crores (+5.7% YoY)
  • Fair Value Changes: ₹79.05 Crores (+848% YoY from ₹8.34 Crores)
  • Interest Income: ₹13.51 Crores (+82% YoY)
  • Other Income: ₹1.00 Crores (-23% YoY)
  • Profit Before Tax: ₹83.23 Crores (FY2025: ₹10.36 Crores) - +703% YoY
  • PBT Margin: 79.83% (FY2025: 38.10%)
  • Tax Expense: ₹17.06 Crores
  • Profit After Tax: ₹66.17 Crores (FY2025: ₹7.89 Crores) - +738% YoY

Q4 FY2026 Performance:

  • Total Revenue: ₹38.41 Crores
  • Profit Before Tax: ₹31.35 Crores
  • PBT Margin: 81.62%
  • Tax Expense: ₹5.18 Crores
  • Profit After Tax: ₹26.17 Crores (Highest quarter in company's 31-year history)

Expense Breakdown (FY2026):

  • Employee Benefits Expenses: ₹7.75 Crores
  • Depreciation and Amortisation: ₹0.65 Crores
  • Other Expenses: ₹8.24 Crores
  • Total Expense: ₹21.03 Crores

Dividend Declaration or Non-Declaration

  • Consistent dividend track record with dividends paid in 10 out of 12 financial years since FY15
  • Average Dividend: 11.2%
  • Specific dividend declaration for FY2026 not explicitly stated in the presentation

Board Meeting Outcomes

The presentation outlines strategic decisions including:

  • Proposed strategic demerger to separate core financial services from clean-tech and real estate assets
  • Development of AIF Category 2 alternatives platform for HNIs & corporates
  • Expansion of GIFT City IFSC operations for international capital routing
  • Continued systematic deployment of treasury capital

Subsidiary / Associate Update

Femto Green Hydrogen Ltd (56.85% owned):

  • Green-tech fuel decarbonization platform with patented terahertz-frequency wave technology
  • Exclusive Asia/India rights to patented fuel carbon-reduction technology
  • Technology demonstrates 12-25% fuel efficiency gains across validation studies:
  • +16.55% MPG improvement on Jeep Compass petrol (Roush Industries validation)
  • +12.21% Fuel Economy gain on Hyundai Creta BS6 E20 fuel
  • 15-25% Diesel efficiency gains in various trials
  • Revenue model includes device deployment, carbon credit generation ($40-$150 per tonne CO₂), and international licensing
  • PCT patent filed January 2026 (PCT/IN2026/050049)
  • US utility patent active
  • Current stage: Commercial pilot deployment

Indo Thai Realties Ltd (100% WOS):

  • Real estate and co-working space platform established in 2013
  • Operations include strategic land monetization, flexible workspaces (Sky Space brand), and furniture leasing
  • Dual income profile: recurring + transactional revenue

Indo Thai Globe Fin (IFSC) Ltd:

  • GIFT City registered entity for international financial operations
  • Fully active operations serving NRIs and global family offices
  • Facilitates participation in offshore structures and foreign currency trading

Indo Thai Financial Services Ltd (ITFSL):

  • Demerger vehicle for regulated core platform
  • Incorporated September 2025
  • Regulatory registrations in progress for equity, F&O, commodity, currency broking, and depository operations
  • Planned services: Investment Banking and Institutional Research

Proposed Value Unlock & Strategic Demerger

  • Demerger proposal to separate core regulated financial services (99.6% of revenue) from clean-tech and real estate assets
  • Demerger ratio: 1:1
  • NCLT filing in progress
  • BSE/NSE have provided no adverse observations as of March 18, 2026
  • Post-demerger structure:
  • Indo Thai Securities Ltd (ITSL): Full broking & distribution, treasury trading desk, investment banking & research, Gift City operations
  • Demerged entity: Femto Green Hydrogen Ltd (decarbonisation tech) and Indo Thai Realties Ltd (real estate + co-working)

Corporate Governance & Leadership

Board of Directors:

  • Mr. Parasmal Doshi: Chairman cum Whole Time Director, Chartered Accountant with 44+ years experience
  • Mr. Rajendra Bandi: Whole Time Director, 40+ years operations experience
  • Mr. Dhanpal Doshi: Managing Director, Chartered Accountant with 38+ years experience
  • Mrs. Sweta Sharma Pastaria: Independent Woman Director, 18+ years media ethics and law experience
  • Mr. Amber Chaurasia: Independent Director, Masters in Financial Administration with 25+ years experience
  • Mr. Dharmendra Jain: Independent Director, Chartered Accountant with 15+ years experience

Management Team:

  • Mr. Sarthak Doshi: Chief Executive Officer, Chartered Accountant, CFA & MBA from London Business School, 10+ years experience
  • Mr. Nishit Doshi: Chief Financial Officer / Chief Operating Officer, Master's Degree in Finance & Master of Science in Quantitative Finance, 8+ years experience
  • Specialized managers for Algo/HNI Desk, Sales, Institutional Desk, Research, and Quant Engineering

Operational Highlights

  • Founded: 1995, Listed: 2011
  • Total Assets Under Influence: ₹9,000+ Crores across 15,000+ active client accounts
  • Average AUI: ₹60.0 Lakh
  • Exchange memberships: NSE, BSE, MCX, MSEI, NCDEX
  • Geographic presence: Madhya Pradesh, Gujarat, Maharashtra, Chhattisgarh
  • 30% of seniors have tenures between 20 to 25 years
  • Strong women representation across team

Forward-Looking Initiatives

  • Upcoming revenue lines: AIF Category 2, Investment Banking, Equity Research
  • GIFT City IFSC initiatives for international operations
  • Investment in future technologies to enhance shareholder value
  • Continued focus on CSR and philanthropic activities