Board Meeting Details

The meeting commenced at 04:00 PM and concluded at 06:00 PM on 12th November 2026.

Standalone Financial Results (in ₹ Lakhs)

Quarter Ended 30-Sep-26:

  • Revenue from Operations: ₹39.18
  • Interest Income: ₹39.18
  • Dividend Income: ₹0.00
  • Net gain on fair value changes: ₹0.00
  • Total Income: ₹39.18
  • Total Expenses: ₹6.26
  • Finance Costs: ₹0.00
  • Employee Benefits: ₹0.81
  • Other Expenses: ₹5.45
  • Profit before Tax: ₹32.92
  • Tax Expense: ₹8.88 (Deferred Tax)
  • Net Profit after tax: ₹24.04
  • Total Comprehensive Income: ₹24.04
  • Paid-up equity share capital: ₹377.50
  • Other Equity: Negative (not specified in standalone table)
  • EPS (Basic & Diluted): ₹0.06

Half Year Ended 30-Sep-26:

  • Revenue from Operations: ₹78.75
  • Total Income: ₹78.75
  • Total Expenses: ₹12.61
  • Profit before Tax: ₹66.15
  • Tax Expense: ₹17.75 (Deferred Tax)
  • Net Profit after tax: ₹48.39
  • Total Comprehensive Income: ₹48.39
  • EPS (Basic & Diluted): ₹0.13

Consolidated Financial Results (in ₹ Lakhs)

Quarter Ended 30-Sep-26:

  • Revenue from Operations: ₹10.27
  • Interest Income: ₹5.74
  • Broking, Fees, Commission: ₹3.34
  • Net Gain on Fair Value changes: ₹1.19
  • Other Income: ₹65.00
  • Total Income: ₹75.28
  • Total Expenses: ₹49.74
  • Finance Costs: ₹1.14
  • Employee Benefits: ₹14.44
  • Depreciation: ₹6.94
  • Other Expenses: ₹27.22
  • Profit before Tax: ₹25.53
  • Tax Expense: ₹19.75 (Deferred Tax)
  • Net Profit after tax: ₹5.78
  • Other Comprehensive Income: ₹4.22
  • Total Comprehensive Income: ₹10.01
  • Paid-up equity share capital: ₹377.50
  • Other Equity: Negative ₹(5,329.61) as of 31-Mar-26
  • EPS (Basic & Diluted): ₹0.02

Half Year Ended 30-Sep-26:

  • Revenue from Operations: ₹18.02
  • Other Income: ₹129.49
  • Total Income: ₹147.52
  • Total Expenses: ₹95.18
  • Profit before Tax: ₹52.33
  • Tax Expense: ₹38.11 (Deferred Tax)
  • Net Profit after tax: ₹14.22
  • Other Comprehensive Income: ₹4.82
  • Total Comprehensive Income: ₹19.05
  • EPS (Basic & Diluted): ₹0.04

Audit Qualifications - Standalone

The statutory auditor, Ajay Shobha and Co., issued a qualified review report with two specific qualifications:

1. Loan 1 (₹65.60 crores): Interest at negotiated rate of 7.00% was provided up to 31st March 2026 but not provided for H1 FY27. Had interest been provided:

  • Finance cost, loss and liabilities would be higher by ₹1.17 crores (Q2) and ₹2.30 crores (H1)
  • Reserves and surplus would be lower by ₹1.17 crores (Q2) and ₹2.30 crores (H1)

2. Loan 2 (₹76.00 crores): Interest at negotiated rate of 7% was provided up to 31st March 2026 but interest of ₹2.67 crores for H1 not provided. Had interest been provided:

  • Finance cost, loss and liabilities would be higher by ₹1.35 crores (Q2) and ₹2.67 crores (H1)
  • Reserves and surplus would be lower by ₹1.35 crores (Q2) and ₹2.67 crores (H1)

Audit Qualifications - Consolidated

In addition to the two loan interest qualifications mentioned above, the consolidated review report includes a third qualification:

3. Subsidiary Goodwill Impairment: IndiaNivesh Shares and Securities Private Limited (INSSPL) has not performed impairment testing of goodwill amounting to ₹20.36 crores as required by Ind AS 36. The auditor is unable to comment on the carrying value and resultant impact.

Impact of Qualifications

Standalone Impact for H1 FY27:

  • Reported Net Profit: ₹48.39 lakhs
  • Adjusted Net Loss after qualifications: ₹(430.82) lakhs
  • Reported EPS: ₹0.13
  • Adjusted EPS: ₹(1.19)
  • Reported Total Liabilities: ₹14,186.96 lakhs
  • Adjusted Total Liabilities: ₹14,683.00 lakhs
  • Reported Net Worth: ₹(5,827.12) lakhs
  • Adjusted Net Worth: ₹(6,324.08) lakhs

Consolidated Impact for H1 FY27:

  • Reported Net Profit before Tax: ₹52.25 lakhs
  • Adjusted Net Loss before Tax after qualifications: ₹(444.71) lakhs
  • Reported EPS: ₹0.04
  • Adjusted EPS: ₹(1.28)
  • Reported Total Liabilities: ₹14,373.73 lakhs
  • Adjusted Total Liabilities: ₹14,870.69 lakhs
  • Reported Net Worth: ₹(4,933.13) lakhs
  • Adjusted Net Worth: ₹(5,430.10) lakhs

Management's View on Qualifications

Management states that "Interest and terms of repayment are under negotiation and will be settled before the end of the financial year."

Segment Reporting - Standalone

Revenue by Segment (H1 FY26):

  • Investment & Trading Activities: ₹(0.00) lakhs
  • Financing Activities: ₹78.76 lakhs
  • Advisory and other services: ₹0.00 lakhs

Net Assets (30-Sep-26):

  • Investment & Trading Activities: ₹7,826.95 lakhs
  • Financing Activities: ₹276.17 lakhs
  • Unallocated: ₹256.81 lakhs

Segment Reporting - Consolidated

Revenue by Segment (H1 FY26):

  • Investment & Trading Activities: ₹1.19 lakhs
  • Finance Activities: ₹11.83 lakhs
  • Broking, Fees, commission: ₹5.01 lakhs

Assets (30-Sep-26):

  • Investment & Trading Activities: ₹5,354.51 lakhs
  • Finance Activities: ₹263.56 lakhs
  • Broking, Fees, commission: ₹2,552.18 lakhs
  • Unallocable: ₹1,270.35 lakhs

Other Material Disclosures

  • The company's standalone and consolidated networth is eroded
  • Directors/Management will induct funds as required to meet various costs and losses
  • Short-term borrowings have been utilized for long-term investment cost amounting to ₹72,99,041.54 (Standalone) and ₹63,80,482.53 (Consolidated)
  • During FY 2022-23, subsidiary INSSPL restarted trading terminals on NSE Cash Segment after SAT granted interim relief
  • SAT final order dated March 6, 2026 imposed penalty of ₹40.39 lakhs on INSSPL

The financial results have been prepared in accordance with Indian Accounting Standards and Section 133 of the Companies Act, 2013, and comply with SEBI Listing Regulations.