Date: August 12, 2026

Board Meeting Outcomes

The Board of Directors meeting held on August 12, 2026 (commenced at 04:58 P.M. and concluded at 05:49 P.M.) considered and approved:

  • Un-Audited Standalone Financial Statements as on June 30, 2026
  • Financial results prepared under Regulation 33 of SEBI Listing Regulations

Financial Results (Standalone)

Income Statement Highlights (Amount in ₹ Lakhs)

Quarter Ended June 30, 2026 (Unaudited):

  • Total Income: ₹438.17
  • Revenue from Operations: ₹251.68
  • Interest Income: ₹166.46
  • Net Gain on Fair Value Changes: ₹30.40
  • Other Operating Income: ₹54.82
  • Other Income: ₹186.49
  • Total Expenses: ₹1,400.14
  • Finance Costs: ₹22.81
  • Impairment and Loss Allowances: ₹4.03
  • Employee Benefits Expense: ₹927.45
  • Depreciation and Amortization: ₹50.48
  • Other Expenses: ₹395.37
  • Loss Before Tax: (₹961.97)
  • Income Tax Expense: ₹0
  • Net Loss After Tax: (₹961.97)
  • Other Comprehensive Income: ₹0.09
  • Total Comprehensive Loss: (₹961.88)

Comparative Performance:

  • March 31, 2026 (Unaudited): Net Loss (₹1,236.48), Total Comprehensive Loss (₹1,236.66)
  • June 30, 2025 (Unaudited): Net Loss (₹614.83), Total Comprehensive Loss (₹621.67)
  • March 31, 2026 (Audited): Net Loss (₹3,379.87), Total Comprehensive Loss (₹3,379.46)

Earnings Per Share (Face Value ₹10):

  • Basic EPS: (₹0.29)
  • Diluted EPS: (₹0.29)

Balance Sheet Highlights (As at June 30, 2026)

Assets (₹ Lakhs):

  • Total Assets: ₹2,71,071.98
  • Financial Assets: ₹2,68,579.21
  • Cash and cash equivalents: ₹298.29
  • Loans: ₹7,120.95
  • Investments: ₹2,60,953.92
  • Other financial assets: ₹206.05
  • Non-financial Assets: ₹2,492.77
  • Current Tax assets (net): ₹940.41
  • Property, plant and equipment: ₹159.23
  • Right of use asset: ₹618.39
  • Intangible assets: ₹7.55
  • Other non financial assets: ₹767.19

Liabilities and Equity (₹ Lakhs):

  • Total Liabilities: ₹10,628.68
  • Financial Liabilities: ₹9,769.36
  • Trade payables: ₹489.11 (Micro/small enterprises: ₹18.52, Others: ₹470.59)
  • Lease liabilities: ₹778.05
  • Other financial liabilities: ₹8,502.19
  • Non-financial Liabilities: ₹859.32
  • Provisions: ₹743.00
  • Other non-financial liabilities: ₹116.32
  • Equity: ₹2,60,443.30
  • Equity Share Capital: ₹34,123.37
  • Other equity: ₹2,26,319.93

Segment Performance (Quarter Ended June 30, 2026)

Segment Revenue (₹ Lakhs):

  • Investment & Financing Activities: ₹305.34
  • Lending Activities: ₹77.49
  • Braking Activities: ₹137.39
  • Insurance Activities: ₹2.93
  • Investment-Others: ₹87.53
  • Unallocated: ₹132.83
  • Total Revenue: ₹438.17

Segment Results (₹ Lakhs):

  • Investment & Financing Activities: (₹686.83)
  • Lending Activities: (₹300.12)
  • Braking Activities: (₹459.42)
  • Insurance Activities: (₹12.57)
  • Investment-Others: ₹85.28
  • Unallocated: (₹275.14)
  • Loss Before Tax: (₹961.97)

Cash Flow Statement (Quarter Ended June 30, 2026)

  • Net Cash Used in Operating Activities: (₹2,222.35)
  • Net Cash Used in Investing Activities: (₹12,348.54)
  • Purchase of Property, Plant and Equipment: (₹5.74)
  • Proceeds from Sale of Property, Plant and Equipment: ₹0.56
  • Investment made in mutual funds: (₹12,200.00)
  • Redemption of mutual funds: ₹11,825.00
  • Investment in subsidiary Companies: (₹11,968.52)
  • Interest Income Received: ₹0.16
  • Net Cash Generated From Financing Activities: ₹14,659.22
  • Proceeds from conversion of Share Warrant: ₹14,705.00
  • Payment of lease rent: (₹45.78)
  • Net Increase in Cash and Cash Equivalents: ₹88.33
  • Cash and Cash Equivalents at Beginning: ₹209.96
  • Cash and Cash Equivalents at End: ₹298.29

Significant Notes to Financial Results

Note 3: Share Capital Changes

  • Company allotted 83,43,263 shares at ₹235 per share on conversion of share warrants during quarter ended June 30, 2026
  • Paid-up equity capital increased to ₹34,123.37 lakhs divided into 34,12,33,742 equity shares of ₹10 each

Note 4: Dividend Restriction

  • Company continues to be barred from declaring dividends as per RBI letter issued in December 2019

Note 5: Preference Share Disputes

  • 15 lakh preference shares issued to Oscar Investments Limited (redemption value ₹4,190.28 lakhs) not redeemed due to dispute
  • 250 lakh preference shares issued to RHC Finance Pvt Limited (redemption value ₹4,212.75 lakhs) not redeemed due to dispute
  • Both matters sub-judice in Delhi High Court and NCLT

Note 6: Governance Review

  • Board commissioned governance review of Company and subsidiaries (RFL and RHDFCL) in FY2025
  • External law firm engaged, review in progress to identify potential instances of misconduct

Note 7: Preferential Allotment

  • Board approved issuance of up to 6,38,29,782 warrants convertible into equity shares at ₹235 per warrant
  • EGM held August 08, 2025 approved with 83.79% majority
  • Received ₹14,705 lakhs during quarter for conversion of 83,43,263 warrants (shares allotted June 04, 2026)

Note 8: Subsidiary Investment

  • Company subscribed to rights issue amounting to ₹11,968.52 lakhs in subsidiary Care Health Insurance Ltd (CHIL)

Note 9: Demerger Update

  • Board approved Scheme of Arrangement on February 2026 for demerger of financial services business into Religare Finvest Limited
  • Insurance business (Care Health Insurance) to remain with REL
  • Received observation letters from BSE and NSE with no objection in July 2026
  • Received RBI rejection letter dated August 6, 2026 - request not acceded to
  • Company and RFL to engage with Regulator for further clarifications

Note 10: Tax Litigation

  • Income tax assessment for AY 2017-18: demand of ₹10,853 lakhs (including interest)
  • Company filed appeal before ITAT, interim stay granted on recovery of demand
  • Considered as contingent liability, no provision recognized