A meeting of the Board of Directors of Mercantile Ventures Limited was held on Friday, 14th August 2026, commencing at 10:50 A.M. and concluding at 11:36 A.M. The board approved the following items:

1. Financial Results Approval

The Board approved the Un-Audited Financial Results (Standalone & Consolidated) of the Company for the Quarter ended 30th June 2026 along with the Limited Review Report of the Statutory Auditors.

2. Standalone Financial Results (Quarter ended 30th June 2026)

  • Total Income: ₹1,187.00 lakhs (Previous quarter: ₹1,272.84 lakhs; Year-ago quarter: ₹1,022.68 lakhs)
  • Income from Operations: ₹1,020.26 lakhs
  • Other Income: ₹166.74 lakhs
  • Total Expenses: ₹1,018.85 lakhs
  • Profit before tax: ₹168.15 lakhs (Previous quarter: ₹100.64 lakhs; Year-ago quarter: Loss of ₹57.07 lakhs)
  • Tax Expense: ₹95.22 lakhs (Current Tax: ₹74.17 lakhs; Deferred Tax: ₹21.05 lakhs)
  • Net Profit after tax: ₹72.93 lakhs
  • Share of loss from LLP/Partnership Firms: ₹(1.27) lakhs
  • Net Profit for the period: ₹71.66 lakhs (Previous quarter: ₹113.71 lakhs; Year-ago quarter: Loss of ₹69.48 lakhs)
  • Other Comprehensive Income: ₹2,188.75 lakhs
  • Total Comprehensive Income: ₹2,260.41 lakhs
  • Paid-up equity share capital: ₹11,207.14 lakhs (Face value of ₹10 each)
  • Earnings per Share (Basic and diluted): ₹0.07

3. Segment-wise Standalone Results (Quarter ended 30th June 2026)

  • Rent and Maintenance of immovable properties: Revenue ₹198.01 lakhs; Segment Assets ₹7,520.63 lakhs
  • Manpower Services: Revenue ₹822.25 lakhs; Segment Profit ₹64.34 lakhs; Segment Assets ₹609.92 lakhs
  • Investment activity: Revenue ₹166.74 lakhs; Segment Profit ₹166.74 lakhs; Segment Assets ₹20,825.41 lakhs
  • Total Assets: ₹31,256.10 lakhs

4. Consolidated Financial Results (Quarter ended 30th June 2026)

  • Total Income: ₹2,551.09 lakhs (Previous quarter: ₹2,576.78 lakhs; Year-ago quarter: ₹2,120.60 lakhs)
  • Income from Operations: ₹2,303.23 lakhs
  • Other Income: ₹247.86 lakhs
  • Total Expenses: ₹2,334.83 lakhs
  • Profit before tax: ₹216.26 lakhs
  • Tax Expense: ₹94.46 lakhs (Current Tax: ₹74.43 lakhs; Deferred Tax: ₹20.03 lakhs)
  • Net Profit after tax: ₹121.80 lakhs
  • Share of loss from LLP/Partnership Firms: ₹(1.27) lakhs
  • Minority Interest: ₹185.60 lakhs
  • Net Profit for the period: Loss of ₹(65.07) lakhs (Previous quarter: Profit of ₹312.11 lakhs; Year-ago quarter: Loss of ₹111.95 lakhs)
  • Other Comprehensive Income: ₹3,145.29 lakhs
  • Total Comprehensive Income: ₹3,080.22 lakhs
  • Paid-up equity share capital: ₹11,207.14 lakhs (Face value of ₹10 each)
  • Earnings per Share (Basic and diluted): Loss of ₹(0.06)

5. Segment-wise Consolidated Results (Quarter ended 30th June 2026)

  • Rent and Maintenance of immovable properties: Revenue ₹198.01 lakhs; Segment Profit ₹76.77 lakhs; Segment Assets ₹7,520.66 lakhs
  • Manpower Services: Revenue ₹822.25 lakhs; Segment Profit ₹64.34 lakhs; Segment Assets ₹909.84 lakhs
  • Security Services: Revenue ₹1,282.97 lakhs; Segment Assets ₹1,124.92 lakhs
  • Investment Activities: Revenue ₹247.86 lakhs; Segment Profit ₹247.86 lakhs; Segment Assets ₹21,662.56 lakhs
  • Total Assets: ₹34,993.33 lakhs

6. Management Changes

The Board approved the re-appointment of Mr. E N Rangaswami (DIN: 06463753) as Whole-time Director of the Company for a period of three years from 05th December 2026 to 04th December 2029.

7. Corporate Calendar

The 25th Annual General Meeting of the Company is scheduled to be held on Thursday, 24th September 2026 at 11.00 AM [IST] through Video Conferencing (VC) or Other Audio-Visual Means (OAVM).

8. Auditor's Qualification for Consolidated Results

The review report contains a qualification regarding the company's subsidiary, Walery Security Management Limited. The subsidiary holds 2.20 crores redeemable cumulative preference shares (nominal value ₹10 per share, aggregating ₹22 crores) in another company. Dividends on these investments remain unpaid since FY 2019-20. In the absence of valuation reports, the auditors are unable to assess the fair market value or carrying value of these investments per Ind AS 109 and Ind AS 113, and its impact on results. The issuer company had requested a rollover for a further five-year term, which was agreed upon during the previous year ended March 31, 2025.

9. NCLT Amalgamation

The NCLT approved a Scheme of Amalgamation of India Radiators Limited with Mercantile Ventures Limited vide order dated 08-07-2026. The Effective date is 23-07-2026 and the Appointed date is 01-01-2025. Consequently, figures for previous periods have been suitably restated.

10. Entities Included in Consolidation

The consolidated results include:

  • I3 Security Private Limited (Subsidiary)
  • Walery Security Management Limited (Subsidiary)
  • Chitaranjan Developers LLP (Subsidiary)