Key Financial Figures (Rs. in Lakhs)
For the Quarter Ended 30th June 2026:
- Total Income: ₹221.58
- Total Expenses: ₹177.50
- Profit Before Tax: ₹44.08
- Tax Expense: ₹0.00
- Profit After Tax: ₹44.08
- Other Comprehensive Income (Loss): ₹(161.66)
- Total Comprehensive Income (Loss): ₹(117.58)
- Basic & Diluted EPS (not annualized): ₹0.15
For the Quarter Ended 30th June 2025 (Comparative):
- Total Income: ₹150.57
- Total Expenses: ₹76.86
- Profit Before Tax: ₹73.71
- Tax Expense: ₹0.00
- Profit After Tax: ₹73.71
- Other Comprehensive Income: ₹747.23
- Total Comprehensive Income: ₹820.94
- Basic & Diluted EPS (not annualized): ₹0.25
Paid-up Equity Share Capital: ₹1,471.81 lakhs (unchanged from previous year).
Operational and Strategic Updates
- The company's principal business is stock broking and allied activities. It obtained a single registration certificate from SEBI dated 17th June 2026 to carry out this business.
- The Honourable National Company Law Tribunal (NCLT) approved the merger of the company's wholly-owned subsidiary, Maximus Securities Limited, with the company via an order dated 16th October 2025. The merger is effective from 1st April 2024. The certified true copy of the order was received on 8th December 2025. The accounts from the December 2025 quarter onwards reflect the merged entity. The company is proceeding with transferring membership of stock exchanges and other market intermediaries.
Provisions and Write-Offs
- For the year ended 31st March 2026, a provision and write-off of ₹80.00 lakhs was made for a rental deposit given in 1997 that a landlord failed to return. A suit was decreed in the company's favor but could not be enforced due to a prior bank claim on the property under SARFAESI.
- For the quarter ended 30th June 2026, a provision and write-off of ₹2.67 lakhs was made for unrecoverable debit balances of depository clients outstanding for over three years.
Dividend Declaration
The directors approved a dividend of 1% on preference shares for FY 2025-26, which will absorb ₹0.70 lakhs, subject to confirmation by members at the Annual General Meeting.
Contingencies and Legal Matters
- The company has created contingency provisions for some liabilities, which are reviewed periodically. In the previous year, a contingency provision of ₹465.07 lakhs was reversed as it was no longer required due to the lapse of the limitation period for an income tax demand appeal and the settlement of a customer demand. The management will review remaining provisions during the current year.
- The Hon'ble Bombay High Court sanctioned a Scheme of Compromise under section 391 with many bankers and trustees for debenture holders in 2005 and 2010. The company has completed all payments but is yet to receive final discharge for the release of assets.
Other Notes
- The financial results are prepared in accordance with Indian Accounting Standards (Ind AS).
- The company is a single business segment (financial services) entity.
- The company has unabsorbed depreciation and carry-forward losses under the Income Tax Act, 1961. Due to a lack of clear visibility of future earnings, it has not recognized any deferred tax.
- Other expenditure includes ₹7.79 lakhs paid to BSE and NSE for annual listing fees and to CDSL and NSDL for annual custodial fees for Q1 FY27.
- Other income for the year ended 31st March 2026 included ₹102.24 lakhs from the write-back of provisions and credit balances no longer required.
- Previous year figures have been rearranged for comparability, and the Q1 FY25 figures include Maximus Securities Limited as it was considered for consolidated statements that quarter.
Auditor's Review
The statutory auditors, S. Ramanand Aiyar & Co., conducted a limited review of the results in accordance with Standard on Review Engagements (SRE) 2410. Their report, dated 31st July 2026, draws attention to Note 4 regarding the accounting for the merger but states that based on their review, nothing has come to their attention to believe the statement contains any material misstatement.