GCM Capital Advisors Limited submitted its unaudited standalone financial results for the half year ended 30th September 2026 (H1 FY27) to BSE Limited in compliance with Clause 43 of the Listing Agreement.

The financial results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on 5 November 2026, which commenced at 16:45 hours and concluded at 17:30 hours. The results have been subjected to a limited review by the statutory auditors, SPML & Associates Chartered Accountants.

Financial Performance Highlights (All figures in ₹ lakhs)

Income Statement:

  • Revenue from Operations: ₹62.17 (H1 FY27) vs ₹117.91 (H1 FY26) and ₹110.02 (H2 FY26)
  • Total Income: ₹62.17 (H1 FY27) vs ₹119.95 (H1 FY26) and ₹110.02 (H2 FY26)
  • Total Expenses: ₹148.73 (H1 FY27) vs ₹128.18 (H1 FY26) and ₹150.81 (H2 FY26)
  • Loss before tax: ₹(86.56) (H1 FY27) vs ₹(8.23) (H1 FY26) and ₹(40.79) (H2 FY26)
  • Tax Expenses: ₹(4.80) (H1 FY27) vs ₹(2.55) (H1 FY26) and ₹(9.63) (H2 FY26)
  • Net Loss: ₹(81.76) (H1 FY27) vs ₹(5.68) (H1 FY26) and ₹(31.16) (H2 FY26)
  • Earnings per Share (Basic & Diluted): ₹(0.48) (H1 FY27) vs ₹(0.03) (H1 FY26) and ₹(0.18) (H2 FY26)

Key Expense Components:

  • Employees Benefit Expenses: ₹25.33
  • Finance Costs: ₹3.87
  • Depreciation & Amortization: ₹15.73
  • Fair value adjustment on Investments: ₹67.47
  • Provision of Expected Credit Loss: ₹28.32
  • Other Expenses: ₹9.17

Balance Sheet Position (as at 30 September 2026):

  • Total Assets: ₹2,740.91 lakhs (vs ₹2,687.88 lakhs as at 31 March 2026)
  • Property, Plant and Equipment: ₹143.17 lakhs
  • Investments: ₹342.84 lakhs
  • Loans: ₹1,569.59 lakhs
  • Cash & Cash Equivalents: ₹26.56 lakhs
  • Total Equity: ₹2,444.19 lakhs (Equity Share Capital: ₹1,694.00 lakhs; Reserves & Surplus: ₹750.19 lakhs)
  • Total Liabilities: ₹296.72 lakhs

Cash Flow Statement:

  • Net Cash From Operating Activities: ₹249.45 lakhs
  • Net Cash Used in Investing Activities: ₹(308.21) lakhs (including Purchases of Investments: ₹250.00 lakhs; Purchases of Assets: ₹58.21 lakhs)
  • Net Cash From Financing Activities: ₹50.93 lakhs
  • Net Decrease in Cash & Cash Equivalents: ₹(7.83) lakhs

Material Disclosures and Notes

1. Segment Reporting: The company operates in a single business segment of "Finance & Investments" as per IndAS 108.

2. Accounting Standards: The financial results have been prepared in accordance with Indian Accounting Standards (Ind-AS), including Ind AS 34 Interim Financial Reporting, as prescribed under section 133 of the Companies Act 2013, and in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

3. Balance Confirmations: Balances of certain trade receivables, trade payables, loans and advances are subject to confirmation/reconciliation. Management does not expect any material adjustments affecting the financial statements.

4. Investments Valuation: The company holds investments in unlisted companies valued at ₹160.26 lakhs as on 30 September 2026, measured at fair value based on latest available valuation reports as at 31 March 2025. The company is obtaining updated valuation reports, and any fair value adjustments will be recognized upon receipt.

5. Advances for Acquisition: The company has given various advances totaling ₹619.90 lakhs (gross value) shown under 'Other financial assets (current)' for acquiring shares/securities. These acquisitions are pending as of the reporting date. Management is processing either settlement through acquisition or repayment.

6. Dormant Bank Account: The company has a dormant bank account with Yes Bank Limited totaling ₹0.01 lakhs, pending confirmation and potential adjustment.

7. Non-Recognition of Interest Income: The company has not recognized interest income on certain loans aggregating ₹484.14 lakhs (gross) as at 30 September 2026, as recovery is not considered probable. These loans are credit-impaired with an expected credit loss allowance of ₹220.83 lakhs recognized against them.

Auditor's Emphasis of Matter

The statutory auditors highlighted four key areas in their limited review report:

  • Certain balances are subject to confirmation/reconciliation (Note 4)
  • Investments in unlisted companies valued based on March 2025 valuation reports (Note 5)
  • Advances totaling ₹619.90 lakhs for pending acquisitions (Note 6)
  • Non-recognition of interest income on credit-impaired loans of ₹484.14 lakhs (Note 8)

The auditors noted they have relied on management representations regarding these matters.