Board Meeting Details

The Board of Directors meeting commenced at 12:30 p.m. and concluded at 01:50 p.m. on May 24, 2026.

Business Transacted

1. Financial Statement

Approved the Audited Financial Statement (Standalone and Consolidated) of the Company for the Financial Year ended March 31, 2026.

2. Financial Results

Approved standalone and consolidated Audited Financial Results for the Quarter and year ended March 31, 2026.

3. Auditors' Report

Received and noted the Auditors' Reports on the standalone and consolidated financial results, which contained an unmodified opinion. A declaration confirming this, as required under SEBI Circular no. CIR/CFD/CMD/56/2016 dated May 27, 2016, was also approved.

4. Dividend

Recommended a final dividend of Re. 1/- per Equity Share (face value of Rs. 10/-) for the financial year ended March 31, 2026. This is subject to approval by members at the ensuing 37th Annual General Meeting (AGM). The dividend is to be paid within the statutory time limit of 30 days from the AGM, if declared. This is consistent with the previous year's dividend.

5. Abstract of Results

Approved an abstract of the Audited Financial Results for publication in newspapers as required under Regulation 47 of the SEBI (LODR) Regulations, 2015.

6. Notice of AGM

Approved the Notice of the 37th Annual General Meeting, which is scheduled to be held on August 20, 2026.

7. Internal Auditor

Approved the re-appointment of M/s ALP & Associates, Chartered Accountants (Firm registration number: 328740E), as the Internal Auditor of the Company for the Financial Year 2026-27. The re-appointment was made on May 24, 2026.

Detailed Financial Results (Standalone)

Income Statement (₹ in Lakhs)

For the Quarter Ended March 31, 2026 (Audited):

  • Revenue From Operations: ₹2,867.63
  • Interest Income: ₹81.55
  • Dividend Income: ₹1.90
  • Rental Income: ₹6.30
  • Fee and Commission Income: ₹208.98
  • Net Gain/(Loss) on Fair Value Changes: (₹80.15)
  • Sale of Services: ₹8.33
  • Sale of Stock-in-Trade (Shares & Securities): ₹2,623.69
  • Other Revenue From Operations: ₹17.03
  • Other Income: ₹19.45
  • Profit on sale of Property, Plant and Equipment: ₹0.04
  • Others: ₹19.41
  • Total Income: ₹2,887.08

Expenses (₹ in Lakhs):

  • Purchase of Stock-in-Trade: ₹2,824.46
  • Changes In Inventory of Stock-in-Trade: ₹82.65
  • Employee Benefits Expense: ₹136.75
  • Depreciation and Amortisation Expenses: ₹22.32
  • Fee and commission Expense: ₹16.86
  • Other Expenses: ₹82.14
  • Total Expenses: ₹3,165.18

Profit/(Loss):

  • Profit / (Loss) before Tax: (₹278.10)
  • Total Tax Expenses: (₹66.99)
  • Current Tax: (₹59.75)
  • Deferred Tax: (₹7.24)
  • Net Profit/(Loss) after tax: (₹211.11)
  • Total other comprehensive income (Net of tax): ₹3.88
  • Total comprehensive income for the period: (₹207.23)

For the Year Ended March 31, 2026 (Audited):

  • Revenue From Operations: ₹10,943.18
  • Other Income: ₹81.06
  • Total Income: ₹11,024.24
  • Total Expenses: ₹10,714.68
  • Profit / (Loss) before Tax: ₹309.56
  • Total Tax Expenses: ₹71.94
  • Net Profit/(Loss) after tax: ₹237.62
  • Total other comprehensive income (Net of tax): ₹4.57
  • Total comprehensive income for the period: ₹242.19

Earnings Per Share (EPS) (not annualised):

  • Basic EPS for Q4 FY26: (₹2.64)
  • Diluted EPS for Q4 FY26: (₹2.64)
  • Basic EPS for FY26: ₹2.98
  • Diluted EPS for FY26: ₹2.98

Balance Sheet (Standalone) as at March 31, 2026 (₹ in Lakhs)

  • Total Assets: ₹6,419.91
  • Paid-up Equity Share Capital: ₹798.44 (Face value of ₹10/- each)
  • Reserves excluding Revaluation Reserves: ₹5,273.84
  • Total Equity: ₹6,072.28
  • Total Liabilities: ₹347.63

Cash Flow Statement (Standalone) for FY26 (₹ in Lakhs)

  • Cash Flow from operating Activities: (₹282.77)
  • Net cash from investing activities: ₹409.66
  • Net cash used in financing activities: (₹80.65)
  • Net increase in cash and cash equivalents: ₹46.24
  • Cash and cash equivalents at the end of the year: ₹86.45

Detailed Financial Results (Consolidated)

The consolidated results include the subsidiary SFSL Commodity Trading Private Limited and associate entities Sumedha Management Solutions Private Limited, US Infotech Private Limited, and Urushya Fund Management LLP.

Income Statement (₹ in Lakhs)

For the Quarter Ended March 31, 2026 (Audited):

  • Total Income: ₹2,873.24
  • Total Expenses: ₹3,166.28
  • Profit / (Loss) before Tax: (₹293.04)
  • Share of Profit/(Loss) of Associates: (₹1.85)
  • Total Tax Expenses: (₹64.54)
  • Net Profit/(Loss) after tax: (₹230.35)
  • Total other comprehensive income (Net of tax): (₹95.38)
  • Total comprehensive income for the period: (₹325.73)

For the Year Ended March 31, 2026 (Audited):

  • Total Income: ₹11,028.33
  • Total Expenses: ₹10,717.73
  • Profit / (Loss) before Tax: ₹310.60
  • Share of Profit/(Loss) of Associates: ₹7.70
  • Total Tax Expenses: ₹76.19
  • Net Profit/(Loss) after tax: ₹242.11
  • Total other comprehensive income (Net of tax): (₹94.69)
  • Total comprehensive income for the period: ₹147.42

Earnings Per Share (EPS) (not annualised):

  • Basic EPS for Q4 FY26: (₹2.89)
  • Diluted EPS for Q4 FY26: (₹2.89)
  • Basic EPS for FY26: ₹3.03
  • Diluted EPS for FY26: ₹3.03

Balance Sheet (Consolidated) as at March 31, 2026 (₹ in Lakhs)

  • Total Assets: ₹6,872.27
  • Paid-up Equity Share Capital: ₹798.44
  • Reserves excluding Revaluation Reserves: ₹5,717.63
  • Total Equity: ₹6,516.13
  • Total Liabilities: ₹356.14

Key Notes to Financial Statements

  • The Company is registered with SEBI as a Merchant Banker/Investment Banker.
  • The Financial Results were reviewed by the Audit Committee and approved by the Board on May 24, 2026.
  • The results are prepared in accordance with Indian Accounting Standards (Ind AS).
  • The company operates in a single reporting segment: "Investment Banking".
  • A provision of ₹17.48 Lakhs was recognized for net liability for Gratuity related to past service cost under the New Labour Code announced by the Government of India on November 21, 2025. This was debited to Employee Benefits Expenses.
  • The figures for the quarter ended March 31, 2026, are derived as the difference between the audited full-year figures and the published unaudited figures for the nine months ended December 31, 2025.
  • Previous period figures have been reclassified/regrouped/rearranged for comparability.

Additional Information

The detailed financial results and auditor's reports have been uploaded on the company's website and the website of BSE Ltd. The abstract of results will be published in newspapers.