Key Financial Results (₹ in Lakhs)

For Year Ended March 31, 2026:

  • Revenue from Operations: ₹18,358.82 (vs. ₹934.38 in FY25)
  • Total Expenses: ₹16,576.05 (vs. ₹1,196.26 in FY25)
  • Profit Before Tax: ₹1,782.77 (vs. loss of ₹261.88 in FY25)
  • Tax Expense: ₹753.02
  • Profit After Tax: ₹1,029.75 (vs. loss of ₹219.95 in FY25)
  • Basic EPS: ₹6.93 (vs. negative ₹1.42 in FY25)

For Quarter Ended March 31, 2026:

  • Revenue from Operations: ₹1,355.06
  • Profit After Tax: ₹263.71
  • Basic EPS: ₹1.77

Audit Qualifications and Contingent Liability

The Statutory Auditors, M/s Sunil Vankawala & Associates, issued a qualified opinion with four key matters:

1. Fraudulent Transactions: Company detected suspicious transactions by merchant Prime Technologies aggregating ₹10,500.00 lakhs, subsequently reduced to ₹7,528.18 lakhs following voluntary settlement of smaller claims. Company's bank account with ICICI Bank remains under lien to the extent of ₹7,528.18 lakhs by investigating authorities. Matter is sub judice before Bombay High Court, which granted interim stay on March 12, 2026. Based on legal opinion dated May 27, 2026, management expects favorable outcome. No provision recognized - disclosed as contingent liability of ₹10,500.00 lakhs under Ind AS 37.

2. Balance Confirmations: Balances relating to trade receivables, trade payables, loans, advances, borrowings, and current liabilities are subject to confirmation and reconciliation. Management is obtaining confirmations and any adjustments will be reflected upon completion.

3. Income Reconciliation: Income recognized based on internal software systems, with reconciliation to bank transactions in progress. Management believes this won't result in material adjustments.

4. Agent Commission Expense: ₹432.21 lakhs recognized as agent commission expense without adequate supporting documentation, including merchant-wise mapping and workings. Management represents expenses were incurred in ordinary course and documentation is being compiled.

Additional Financial Information

Statement of Assets and Liabilities (as at March 31, 2026):

  • Total Assets: ₹12,497.15 lakhs (vs. ₹4,036.41 lakhs in FY25)
  • Financial Assets: ₹11,089.89 lakhs (includes Cash & Cash Equivalents: ₹2,581.27 lakhs, Bank Balances other than cash: ₹1,840.92 lakhs, Loans: ₹6,548.59 lakhs)
  • Equity: ₹4,327.53 lakhs (Share Capital: ₹1,487.00 lakhs, Other Equity: ₹2,840.53 lakhs)
  • Liabilities: ₹8,169.62 lakhs (Financial Liabilities: ₹7,496.53 lakhs, Non-Financial Liabilities: ₹673.09 lakhs)

Cash Flow Statement (FY26):

  • Cash from Operating Activities: ₹2,182.95 lakhs
  • Cash from Investing Activities: ₹1,945.11 lakhs
  • Cash from Financing Activities: negative ₹1,708.16 lakhs
  • Net increase in Cash: ₹2,419.90 lakhs
  • Cash and Cash Equivalents at year-end: ₹2,581.26 lakhs (excluding ₹1,840.92 lakhs in lien account)

Other Material Disclosures

  • Loan Write-off: Company wrote off loans aggregating ₹1,303.21 lakhs during FY26 (included in Other Expenses), approved by Board on January 22, 2026.
  • Revenue Decline: Q4 FY26 revenue decline attributed to renegotiation/temporary suspension of commercial arrangements with certain merchants and impact of recent government policy changes.
  • Trading Window: Trading window for insiders reopens from June 1, 2026.
  • Segment Reporting: Not applicable as company operates under single chief operating decision maker.