Company Overview

Mercantile Ventures Limited (CIN: L65191TN1985PLC037309), incorporated in 1985, is engaged in leasing of immovable properties and providing manpower supply services. The company's equity shares are listed on BSE Limited (Scrip Code: 538942).

Annual General Meeting and Voting

The 25th Annual General Meeting was held on 24th September 2026 through Video Conferencing. Key agenda items included adoption of FY26 financial statements, reappointment of Mr. K Gopalakrishnan as director, approval of material related party transactions with Southern Petrochemical Industries Corporation Limited (SPIC) not exceeding ₹20 crores, and reappointment of Mr. E N Rangaswami as Whole-time Director for three years at ₹85 lakh annual remuneration.

Financial Performance Highlights

Standalone Performance:

  • Revenue from operations: ₹42.93 crore (Previous year: ₹36.56 crore)
  • Profit after tax: ₹1.32 crore (Previous year: ₹6.94 crore)
  • Total Comprehensive Income: Loss of ₹53.94 crore (Previous year: Profit of ₹7.06 crore)
  • Earnings per share: ₹0.12 (Previous year: ₹0.62)
  • No dividend recommended

Consolidated Performance:

  • Revenue from operations: ₹93.34 crore (Previous year: ₹72.19 crore)
  • Profit after tax: ₹2.04 crore (Previous year: ₹16.27 crore)
  • Total Comprehensive Income: Loss of ₹58.40 crore (Previous year: Profit of ₹12.60 crore)

Segment Reporting Analysis

The company reports under three reportable segments as per IND AS 108:

  • Current Period Segment Profit: ₹1,112.51 lakh
  • Rent and Maintenance: ₹389.04 lakh
  • Manpower Services: ₹198.97 lakh
  • Security Services: ₹223.42 lakh
  • Investment activity: ₹301.08 lakh
  • Total Segment Assets: ₹30,601.27 lakh
  • Finance Cost: ₹10.68 lakh
  • Profit before tax: ₹249.63 lakh

Major Corporate Events

Scheme of Amalgamation - India Radiators Limited:

  • NCLT sanctioned scheme on 2nd July 2026
  • Effective date: 23rd July 2026 (Appointed date: 1st January 2025)
  • Share exchange ratio: 10 equity shares of Mercantile Ventures for every 36 equity shares of India Radiators
  • Allotted 1,53,161 equity shares

Scheme of Amalgamation - Walery Security Management Limited:

  • NCLT approved on 13th July 2026
  • Appointed date: 1st January 2024
  • Amalgamation with i3 Security Private Limited (wholly owned subsidiary)

Subsidiaries Performance

Financial details for subsidiaries as of 31 March 2026:

  • i3 Security Private Limited: Reported loss of ₹147.58 lakh
  • Walery Security Management Limited: Profit after tax of ₹20.21 lakh
  • India Radiators Limited: Loss before taxation of ₹5.41 lakh
  • Mercantile Ventures Limited (Indian Subsidiary): Profit after taxation of ₹113.99 lakh

Regulatory Compliance and Disclosures

  • 0.2251% of total shares held by 45 struck-off companies, with Harrington Investments Ltd as largest holder
  • No benami property, no wilful defaulter status, and no crypto currency investments
  • Compliance with all regulatory requirements including SEBI guidelines
  • Corporate guarantee of ₹30,000 lakhs created on company's assets for third party loan
  • Various tax disputes totaling approximately ₹253 lakhs under dispute

Auditor Qualifications

Statutory Auditor issued qualified opinion on consolidated financial statements regarding valuation of ₹22 crore redeemable cumulative preference shares held by Walery Security Management Limited, with dividends unpaid since FY 2019-20.

Shareholding Pattern

  • Promoters and Promoter Group: 72.75%
  • Public: 27.25%
  • Dematerialized shares: 91.89%
  • Trinity Auto Points Ltd's shareholding increased from 18.72% to 31.58% due to amalgamation