Summary of Key Information:
Reporting Period (Quarter/Year): Quarter and Half Year ended 30 September 2026
Nature of Filing / Announcement: Outcome of Board Meeting - Unaudited Financial Results
Audit Opinion:
Clean Review Opinion - Statutory Auditor S.R. Batliboi & Co. LLP issued limited review reports for both standalone and consolidated financial results with no modifications or qualifications.
Auditor's Comment: No issues affecting earnings quality, internal controls, or going concern were identified in the limited review.
Key Financial Highlights [Amounts in ₹ Lakhs]:
Standalone Results:
Revenue from Operations:
- Q2 FY27: ₹14,151.31 (vs Q2 FY26: ₹6,356.79 - 122.6% YoY increase)
- H1 FY27: ₹22,445.45 (vs H1 FY26: ₹12,839.58 - 74.8% YoY increase)
Total Income:
- Q2 FY27: ₹14,594.03
- H1 FY27: ₹23,331.20
Net Profit:
- Q2 FY27: ₹2,954.65 (vs Q2 FY26: ₹(210.64) - Significant improvement from loss)
- H1 FY27: ₹3,619.30 (vs H1 FY26: ₹65.24 - 5,447% YoY increase)
EPS (not annualized):
- Basic: Q2 FY27: ₹10.84; H1 FY27: ₹13.28
- Diluted: Q2 FY27: ₹9.86; H1 FY27: ₹12.08
Other Equity: ₹34,328.03 as at 30 September 2026 (vs ₹28,337.11 as at 31 March 2026)
Cash and Cash Equivalents: ₹2,220.03 as at 30 September 2026 (vs ₹2,480.27 as at 31 March 2026)
Debt:
- Borrowings (other than debt securities): ₹6,125.60
- Debt Securities: ₹14,211.44
- Total Debt: ₹20,337.04
Consolidated Results:
Revenue from Operations:
- Q2 FY27: ₹15,134.90 (vs Q2 FY26: ₹7,208.58 - 110% YoY increase)
- H1 FY27: ₹24,320.65 (vs H1 FY26: ₹14,506.14 - 67.6% YoY increase)
Total Income:
- Q2 FY27: ₹15,669.53
- H1 FY27: ₹25,316.74
Net Profit:
- Q2 FY27: ₹3,098.59 (vs Q2 FY26: ₹45.95 - 6,644% YoY increase)
- H1 FY27: ₹4,009.28 (vs H1 FY26: ₹524.25 - 665% YoY increase)
EPS (not annualized):
- Basic: Q2 FY27: ₹11.37; H1 FY27: ₹14.72
- Diluted: Q2 FY27: ₹10.34; H1 FY27: ₹13.38
Other Equity: ₹41,842.05 as at 30 September 2026 (vs ₹35,448.22 as at 31 March 2026)
Cash and Cash Equivalents: ₹2,794.36 as at 30 September 2026 (vs ₹4,748.84 as at 31 March 2026)
Segment-wise Performance:
The Company operates in one reportable operating business segment: Advisory and Transactional Services (comprising Broking and Distribution of Securities, Investment Banking & Other Related Financial Intermediation Services)
For consolidated results, two reportable segments:
1. Advisory and Transactional Services: Revenue of ₹25,027.31 lakh for H1 FY27
2. Financing and Investment Activities: Revenue of ₹503.08 lakh for H1 FY27
Corporate Actions:
Dividend: No dividend declared in this quarter
Share Issuance:
- Allotted 145,449 equity shares during the quarter and 10,800 equity shares subsequent to the quarter to eligible employees pursuant to exercise of Stock Options
- Completed conversion of 20,00,000 warrants into equity shares for promoters Krishna Kumar Karwa (12,50,000 shares) and Prakash Kacholia (7,50,000 shares)
Warrant Conversion: Received remaining 75% consideration (₹179.62 per warrant) totaling ₹808.31 lakh for warrant conversion
Other Significant Information:
Subsidiary Restructuring:
- Incorporated new wholly owned subsidiary Emkay Capital Private Limited (ECPL) on August 24, 2026
- Approved transfer of entire shareholding in Emkay Investment Managers Limited (EIML) and Emkay Wealth Advisory Limited (EWAL) to ECPL
- Approved transfer of Wealth Management business to EWAL on slump sale basis
ESOPs: 13,67,481 Stock Options outstanding under various ESOP Schemes as of September 30, 2026
Entities Included in Consolidation:
Wholly Owned Subsidiaries:
- Emkay Fincap Limited
- Emkay Investment Managers Limited
- Emkay Wealth Advisory Limited
- Emkay Commotrade Limited
- Emkayglobal Financial Services IFSC Private Limited
- Emkay Global Financial Services Pte. Ltd.
- Emkay Capital Private Limited (w.e.f. September 23, 2026)
Associates:
- Azalea Capital Partners LLP (50% share)
- Finlearn Edutech Private Limited (35.97% share)
- AES Trading and Consultants LLP (40% share)
Financial Ratios (Standalone):
Debt Equity Ratio: 0.64 (vs 0.42 as at March 2026)
Debt Service Coverage Ratio: 0.86 (vs 1.98 as at March 2026)
Interest Service Coverage Ratio: 4.03 (vs 1.98 as at March 2026)
Current Ratio: 1.16 (vs 1.17 as at March 2026)
Operating Margin: 20.36% (vs 4.70% as at March 2026)
Net Profit Margin: 16.12% (vs 3.41% as at March 2026)