Financial Performance Overview
Gamco Limited reported a consolidated net loss of ₹471.7 crore (₹4,717.05 lakh) for FY26, a significant reversal from the ₹64.5 crore (₹644.78 lakh) profit in FY25. This was primarily driven by net fair value changes in investments totaling ₹5,010.65 lakh on equity securities held as stock-in-trade, concentrated in Q4 due to adverse market conditions. Revenue from operations surged to ₹283.1 crore (₹2,830.87 lakh) from ₹52.5 crore (₹524.71 lakh) in FY25, with sale of securities contributing ₹259.8 crore.
Strategic Acquisitions and Divestments
The company completed the acquisition of 96.26% equity shares of Uma Properties & Traders Limited on 23rd October 2025, recognizing ₹883.5 crore goodwill and expanding property, plant & equipment by ₹2,733.9 crore. Post-year-end, the company divested 100% of Visco Advisory Private Limited to a Blackstone affiliate (BREP Asia III India Holding Co II Pte. Ltd.) for ₹1,580.30 lakh, completed on 3rd August 2026. The company also entered the hospitality sector by acquiring a 33.33% stake in Blissara Resorts Private Limited.
Capital Structure and Financing
Total borrowings increased to ₹287.9 crore (₹28,794.01 lakh) from ₹150.1 crore (₹15,012.38 lakh) in FY25. The board approved a preferential issue of up to 43,05,960 equity shares at ₹50 per share to raise ₹21.53 crore for partial prepayment of secured loans carrying 9.00-9.50% interest. The amalgamation of wholly-owned subsidiary Complify Trade Private Limited with Gamco Limited was effective from 1st April 2026, simplifying the corporate structure.
Balance Sheet and Investments
Total assets more than doubled to ₹50,909.92 lakh, driven by increased investments and inventory build-up. Investments shifted significantly from quoted (₹21.8 crore vs ₹138.5 crore in FY25) to unquoted instruments (₹156.7 crore vs ₹27.3 crore in FY25). Cash and cash equivalents decreased to ₹1.1 crore from ₹2.4 crore, while inventories increased to ₹180.4 crore from ₹51.2 crore.
Governance and Regulatory Compliance
The 44th AGM is scheduled for 16th September 2026, with the register of members closing from 10th to 16th September 2026. The company maintained compliance with SEBI Listing Regulations, RBI NBFC regulations, and Companies Act requirements. The board saw appointments of new independent directors and key managerial personnel, with unmodified audit opinions from both statutory and secretarial auditors.
Subsequent Events and Outlook
The divestment to Blackstone and strategic acquisitions represent execution of the company's strategy to acquire, build, and monetize assets. The proposed preferential issue aims to reduce debt burden, while the shift in investment portfolio reflects strategic repositioning. No dividend was recommended for FY26 due to the loss position.