Key Financial Figures - Consolidated
Income Statement (₹ lakhs):
- Q2 FY27 Revenue from Operations: ₹189.51 (vs ₹567.11 in Q2 FY26)
- Q2 FY27 Total Income: ₹194.85 (vs ₹573.71 in Q2 FY26)
- Q2 FY27 Finance Costs: ₹663.21 (vs ₹361.91 in Q2 FY26)
- Q2 FY27 Net Loss: ₹(693.34) (vs Profit of ₹58.88 in Q2 FY26)
- H1 FY27 Net Loss: ₹(812.31) (vs Profit of ₹106.94 in H1 FY26)
- Basic EPS: ₹(0.11) for Q2 FY27 (vs ₹0.01 in Q2 FY26)
Balance Sheet (Consolidated as of September 30, 2026):
- Total Assets: ₹41,424.42 lakhs
- Loans: ₹34,861.92 lakhs
- Investments: ₹4,209.14 lakhs
- Borrowings: ₹26,251.20 lakhs
- Cash and Cash Equivalents: ₹95.82 lakhs
- Equity Share Capital: ₹6,085.20 lakhs
Key Financial Figures - Standalone
Income Statement (₹ lakhs):
- Q2 FY27 Revenue from Operations: ₹684.17 (vs ₹564.44 in Q2 FY26)
- Q2 FY27 Net Loss: ₹(180.99) (vs Profit of ₹43.46 in Q2 FY26)
- Basic EPS: ₹(0.03) for Q2 FY27 (vs ₹0.01 in Q2 FY26)
Balance Sheet (Standalone as of September 30, 2026):
- Total Assets: ₹41,519.30 lakhs
- Loans: ₹36,477.98 lakhs
- Cash and Cash Equivalents: ₹56.93 lakhs
Segment Reporting
The company operates in two reportable segments: Financing and Trading in securities. For Q2 FY27:
- Loan Division revenue: ₹1,206.45 lakhs
- Securities/Share Division loss: ₹(483.88) lakhs
- Total segment loss before tax: ₹(705.35) lakhs
Regulatory and Legal Matters
SEBI Communication: The company received a communication from SEBI dated July 15, 2026, under section 11C(3) of the SEBI Act 1992. The matter is at a preliminary investigation stage, and financial impact cannot be ascertained.
ED Proceedings: The Directorate of Enforcement issued a Provisional Attachment Order under PMLA against a promoter/director and associated entities. No predicate offense is alleged against the company, and no company assets have been attached. Management believes no immediate impact on operations.
Elitecon International Loan Dispute:
- Financial assistance of ₹64.00 crores extended to Elitecon International in FY25
- Total outstanding amount: ₹77.43 crores (principal ₹64.00 cr + interest ₹12.08 cr + penal interest ₹1.35 cr)
- Recovery is disputed and subject to legal/arbitral proceedings
- Management considers amount recoverable based on legal advice
- Outcome uncertain, no provision made in financial results
Tax Liabilities
As of September 30, 2026:
- Consolidated outstanding income tax: ₹7.98 crores
- Standalone outstanding income tax: ₹4.87 crores
- Delay attributed to temporary liquidity constraints and prioritization of operational funding
Audit Review
The limited review was conducted by MASAR & Co. (FRN: 033829N). The auditors issued an unmodified conclusion but emphasized the ED proceedings and Elitecon loan recovery matter as emphasis of matters.
Cash Flow
Consolidated cash flow for H1 FY27:
- Net cash used in operating activities: ₹(11,519.86) lakhs
- Net cash used in investing activities: ₹(50.98) lakhs
- Net cash from financing activities: ₹10,698.57 lakhs
- Net decrease in cash: ₹(872.27) lakhs
Capital Structure
- Equity share capital remains unchanged at ₹6,085.20 lakhs (6,085,200 shares of ₹1 each)
- No change in weighted average number of shares
Governance
Narendra Kumar Singhal, Director (DIN: 10800406), signed the financial results and regulatory filings.