Company Overview

Gretex Corporate Services Limited (Scrip Code: 543324), a SEBI-registered Category-I Merchant Banker, submitted an Investor Presentation for Analysts/Investors Earnings Call for quarter and half year ended September 30, 2026, pursuant to Regulation 30(6) of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.

Financial Performance - Q2-FY27 (Consolidated)

Revenue from Operations: ₹756 Mn, decreased 5.0% YoY from ₹796 Mn in Q2-FY26 but increased 101.6% QoQ from ₹375 Mn in Q1-FY27.

EBITDA: ₹96 Mn, declined 69.7% YoY from ₹317 Mn and decreased 44.2% QoQ from ₹172 Mn.

EBITDA Margins: 12.70%, declined 2,763 basis points YoY from 39.82% and decreased 3,317 basis points QoQ from 45.87%.

Profit Before Tax (PBT): ₹96 Mn, decreased 49.7% YoY from ₹191 Mn and declined 44.2% QoQ from ₹172 Mn.

Profit After Tax (PAT): ₹71 Mn, declined 45.0% YoY from ₹129 Mn and decreased 44.5% QoQ from ₹128 Mn.

PAT Margins: 9.39%, declined 682 basis points YoY from 16.21% and decreased 2,474 basis points QoQ from 34.13%.

Diluted EPS: ₹1.83, decreased 68.0% YoY from ₹5.71 and declined 53.9% QoQ from ₹3.97.

Financial Performance - H1-FY27 (Consolidated)

Revenue from Operations: ₹1,131 Mn, increased 11.4% YoY from ₹1,015 Mn in H1-FY26.

EBITDA: ₹266 Mn, decreased 20.6% YoY from ₹335 Mn.

EBITDA Margins: 23.52%, declined 948 basis points YoY from 33.00%.

Profit Before Tax (PBT): ₹268 Mn, increased 30.1% YoY from ₹206 Mn.

Profit After Tax (PAT): ₹199 Mn, increased 43.2% YoY from ₹139 Mn.

PAT Margins: 17.60%, improved 391 basis points YoY from 13.69%.

Diluted EPS: ₹5.80, decreased 5.4% YoY from ₹6.13.

Operational Highlights

IPO Mandate Progress: The Company progressed four IPO mandates to the DRHP filing stage:

  • Sky Alloys and Power Limited (NSE and BSE Mainboard)
  • Tenty Limited (NSE and BSE Mainboard)
  • Abacus Lifestyle Brands (NSE Emerge)
  • Oremet Alloys (NSE Emerge)

Successful Listing: Vama Wovenfab Limited successfully listed on the BSE SME platform on September 22, 2026.

New Mandate: Secured an underwriting mandate from Armee Infotech Limited.

Expansion: Through subsidiary Gretex Share Broking Ltd., opened a branch office in Ahmedabad, Gujarat.

AIF Fund: Celestial Chakra Momentum Fund, jointly sponsored by GCSL and GSBL through Bahutex Ventures, successfully marked its first close at ₹250 million.

Business Overview

Group Structure: Integrated financial services platform comprising:

  • Gretex Corporate Services Ltd. (SEBI Cat-I Merchant Banker): SME & Mainboard IPOs, FPOs, rights issues, M&A, restructuring, private equity & debt, valuation and compliance advisory
  • Gretex Share Broking Ltd. (Material Subsidiary): SEBI-registered stock broker, market making for SME-listed companies, depository participant with NSDL, institutional desk with 12 empaneled institutions as of September 30, 2026
  • Gretex Industries Ltd. (Associate Company): Trading of musical instruments, acquiring an NBFC to expand structured financing capabilities

Track Record: 60+ successful SME IPO listings, now expanding into Mainboard IPOs. Total of ~₹1,579 crore mobilized through capital market transactions.

Board of Directors:

  • Alok Harlalka (Managing Director & CFO) - 17 years on Board, 28+ years in capital markets
  • Arvind Harlalka (Whole-Time Director) - 17 years on Board, 32 years across finance & manufacturing
  • Sumeet Harlalka (Whole-Time Director) - 2+ years on Board, 23 years in FX & securities operations
  • Rajiv Kumar Agarwal (Non-Executive & Independent Director)
  • Khusbu Agrawal (Non-Executive & Independent Director)
  • Dimple Laxminarayan Khetan (Non-Executive & Independent Director)

Capital Market Data (as on September 30, 2026)

Shareholding Pattern:

  • Promoter & Promoter Group: 60.54%
  • Public: 36.96%
  • FPI: 2.50%

Market Statistics:

  • Face Value: ₹10.0
  • CMP: ₹675.9
  • 52-Week High/Low: ₹682.5 / ₹213.2
  • Market Capitalization: ₹16,899.9 Mn
  • Shares Outstanding: 25.0 Mn

Historical Financial Performance (Consolidated)

FY25-FY26-H1-FY27 Revenue: ₹2,589 Mn / ₹1,785 Mn / ₹1,131 Mn

FY25-FY26-H1-FY27 PAT: ₹18 Mn / ₹279 Mn / ₹199 Mn

FY25-FY26-H1-FY27 Diluted EPS: ₹0.57 / ₹9.82 / ₹5.80

Strategic Outlook

Growth Target: Target total fund raise of ~₹20,000 crore over the next 3 years through private equity placements and IPOs.

Competitive Strengths: Full-stack capital markets partner, SME & emerging-company specialist, market maker + merchant banker combination, proven track record, SEBI Cat-I registration, promoter-led experienced team.

Compliance Information

Submitted by: Bhavna Nishant Desai, Group Head – Legal, Company Secretary & Compliance Officer

SEBI Registration No.: INM000012177