Financial Performance Overview

63 moons technologies limited reported dramatically improved standalone financial results for FY26, with net profit surging to ₹174.66 crore (₹17,465.55 lakhs) from ₹5.95 crore (₹594.85 lakhs) in FY25. This performance was driven primarily by exceptional gains totaling ₹1,169.24 crore (₹11,692.43 lakhs), including:

  • Net gain of ₹145.66 crore (₹14,565.72 lakhs) from sale of shares in associate company NTT Data Payment Services
  • Profit of ₹1.27 crore (₹126.71 lakhs) on sale of STP-Gate business undertaking
  • Write-off of ₹30 crore (₹3,000 lakhs) investment in subsidiary National Spot Exchange Limited

Despite strong standalone performance, consolidated operations showed a net loss of ₹22.43 crore (₹2,243.37 lakhs), reflecting challenges in subsidiary performance.

NSEL Settlement Breakthrough

The most significant development was the NCLT-sanctioned ₹1,950 crore settlement scheme for National Spot Exchange Limited (NSEL), approved on November 28, 2025. The scheme received overwhelming support with 92.81% of traders by number and 91.35% by value voting in favor. This settlement, covering 5,682 traders for claims of approximately ₹4,610 crore, is expected to bring closure to civil legal cases against the Group. The Supreme Court has kept related NCLT and NCLAT orders in abeyance to facilitate scheme implementation.

Dividend Declaration with Restrictions

The Board recommended a final dividend of ₹2 per share (100%) for FY26, subject to shareholder approval at the AGM scheduled for September 23, 2026. However, dividend distribution remains constrained by a Bombay High Court interim order dated September 30, 2015, which restricts payment pending final hearing. This has resulted in accumulated undistributed dividends totaling ₹930.79 crore (₹9,307.86 lakhs) for financial years 2014-15 through 2024-25.

Business Operations and Divestments

The company completed several strategic divestments:

  • Sale of STP-Gate business undertaking on September 9, 2025
  • Divestment of entire stake in NTT Data Payment Services India Limited on February 18, 2026
  • Earlier sales of ODIN and MATCH businesses completed January 20, 2025

Core operations continue in exchange technology solutions, risk solutions division, QiLegal platform, and 63SATS cybersecurity ecosystem, which includes consumer cybersecurity super app CYBX, enterprise solutions CSF, and critical infrastructure protection Cyberdome.

Legal and Regulatory Challenges

The company faces multiple ongoing legal proceedings related to the NSEL payment default, including civil suits, FIRs/charge-sheets from EOW, CBI, SFIO, and ED, with assets attached under MPID Act and PMLA. Applications have been filed for disposal of suits and release of properties pursuant to the settlement scheme. The financial statements include a qualified audit opinion due to these uncertainties.

Financial Position and Investments

The company maintains a strong balance sheet with shareholders' funds of ₹36,495.22 crore (₹3,64,952.24 lakhs) on standalone basis and substantial bank balances of ₹136.42 crore (₹13,642.065 lakhs). However, investments face impairment challenges including:

  • IL&FS Transportation Networks NCDs: ₹200 crore investment, impaired ₹135.57 crore with interim distributions received
  • Yes Bank AT-1 Bonds: ₹300 crore investment, fully impaired with matter pending in Supreme Court

Corporate Governance and Compliance

The Board comprises 9 Directors (2 Executive, 7 Non-Executive including 3 Independent) with proper governance structures. The company received warning letters from BSE and NSE regarding disclosures about MSE's trading engine but filed clarifying statements. CSR expenditure of ₹3.78 crore (₹377.56 lakhs) exceeded the required ₹2.82 crore (₹282.18 lakhs) obligation.

Outlook

The successful implementation of the NSEL settlement scheme represents a potential turning point for the company, offering resolution to long-standing legal challenges. However, the consolidated loss and ongoing regulatory scrutiny indicate continued operational challenges despite the improved standalone profitability driven by exceptional items.