Board Meeting Details

The meeting commenced on May 22, 2026 at 10:30 PM (IST) and concluded on May 23, 2026 at 2:00 AM (IST).

Key Decisions Approved

1. Financial Results Approval

The Board approved:

  • Audited Standalone Financial Results for quarter and year ended March 31, 2026
  • Audited Consolidated Financial Results for quarter and year ended March 31, 2026
  • The Statutory Auditors, M/s. Mehra Goel & Co., Chartered Accountants, issued an unmodified audit opinion in accordance with Regulation 33(3)(d) of SEBI Listing Regulations

2. Internal Auditor Appointment

The Board approved the appointment of M/s. Dhirubhai Shah & Co LLP, Chartered Accountants (FRN: 102511W/W100298) as Internal Auditor of the Company for FY 2026-27. The appointment was made pursuant to SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

3. Promoter Reclassification Request

The Board considered the request of Ms. Shefali Chintan Parikh, Promoter, seeking reclassification from 'Promoter' category to 'Public' category in terms of Regulation 31A(8) of SEBI Listing Regulations. This is subject to approval from BSE Limited and National Stock Exchange of India Limited.

Standalone Financial Performance (All amounts in ₹ lakhs)

Quarterly Performance (Q4 FY26)

  • Revenue from operations: ₹2,024.95
  • Other income: ₹143.81
  • Total income: ₹2,168.76
  • Total expenses: ₹466.39
  • Profit before tax: ₹1,702.37
  • Tax expense: ₹446.19
  • Profit for the period: ₹1,256.18
  • Earnings per share (Basic): ₹2.64
  • Earnings per share (Diluted): ₹2.51

Annual Performance (FY26)

  • Revenue from operations: ₹6,327.25
  • Other income: ₹586.14
  • Total income: ₹6,913.40
  • Total expenses: ₹1,394.74
  • Profit before tax: ₹5,518.66
  • Tax expense: ₹1,410.87
  • Profit for the year: ₹4,107.78
  • Earnings per share (Basic): ₹10.42
  • Earnings per share (Diluted): ₹9.80
  • Paid-up equity share capital: ₹475.28 (face value ₹10 per share)
  • Other equity: ₹14,315.64

Year-over-Year Comparison (FY26 vs FY25)

  • Revenue from operations: Increased from ₹221.71 to ₹632.73 (185% growth)
  • Total income: Increased from ₹246.28 to ₹691.34 (181% growth)
  • Profit before tax: Increased from ₹169.51 to ₹551.87 (226% growth)
  • Profit after tax: Increased from ₹126.54 to ₹410.78 (224% growth)
  • EPS (Basic): Increased from ₹4.14 to ₹10.42

Standalone Balance Sheet Position (as at March 31, 2026)

  • Total assets: ₹15,237.56
  • Non-current assets: ₹14,961.60
  • Current assets: ₹2,759.62
  • Total equity: ₹14,790.92
  • Non-current liabilities: ₹678.85
  • Current liabilities: ₹3,787.53

Consolidated Financial Performance (All amounts in ₹ lakhs)

Quarterly Performance (Q4 FY26)

  • Revenue from operations: ₹8,387.25
  • Other income: ₹2,209.80
  • Total income: ₹10,597.05
  • Total expenses: ₹9,973.36
  • Profit before tax: ₹615.42
  • Tax expense: ₹(2,482.46) [credit]
  • Profit after tax: ₹3,097.89
  • Earnings per share (Basic): ₹6.14
  • Earnings per share (Diluted): ₹5.84

Annual Performance (FY26)

  • Revenue from operations: ₹17,939.30
  • Other income: ₹2,695.42
  • Total income: ₹20,634.72
  • Total expenses: ₹15,186.14
  • Profit before tax: ₹5,448.58
  • Tax expense: ₹1,283.39
  • Profit for the year: ₹6,482.64
  • Earnings per share (Basic): ₹16.45
  • Earnings per share (Diluted): ₹15.47
  • Paid-up equity share capital: ₹475.28
  • Other equity: ₹15,946.92

Consolidated Entities Included

The consolidated results include:

  • Brantford Limited (WOS)
  • Synthar Data Storage Private Limited (WOS)
  • ALTRR Software Services Limited (WOS)
  • NES Data Private Limited (WOS)
  • Pepperfry Limited (Subsidiary) (w.e.f. December 8, 2025)
  • Pepcart Logistics Private Limited (Subsidiary) (w.e.f. December 31, 2025)
  • Pepperfry Modular Private Limited (Step down Subsidiary)
  • Clouddio Sleep Private Limited (Step down Subsidiary)

Segment-wise Performance (FY26)

Revenue Breakdown

  • Brokerage & Other Services: ₹15,177.84
  • Rental & Leasing of Equipment: ₹3,334.92
  • Information Technology: ₹1,272.06
  • Total: ₹19,784.83

Segment Profit Before Tax

  • Brokerage & Other Services: ₹7,181.58
  • Rental & Leasing of Equipment: ₹1,880.86
  • Information Technology: ₹316.97
  • Unallocated: ₹(3,979.05)

Key Notes to Financial Statements

1. Related Party Transactions (Regulation 23)

The auditors highlighted an emphasis of matter regarding certain related party transactions for which prior shareholder approval under Regulation 23 of SEBI Listing Regulations was not obtained. Management represented that:

  • Certain transactions were entered into prior to parties becoming related parties
  • Transactions were undertaken on commercial terms and arm's length basis
  • Terms were not prejudicial to company or public shareholders
  • Necessary approvals under Companies Act, 2013 sections 177 and 188 were complied with
  • Transactions were approved by audit committee
  • Company is obtaining legal opinion and will take corrective steps including shareholder ratification

2. Subsidiary Updates

  • Pepperfry Limited raised ₹109.97 crore by allotment of 28,12,483 equity shares at ₹391 per share on preferential basis
  • Company acquired remaining 0.59% equity stake in NES Data Private Limited, making it a wholly owned subsidiary

3. Deferred Tax Assets Recognition

Pepperfry Limited recognized deferred tax assets of ₹3,240.79 lakhs on carried forward losses based on management's reassessment of future taxable profits post-acquisition by TCC Concept Limited.

4. Goodwill and Impairment Assessment

Company carries goodwill of ₹4,278 lakhs relating to Synthar Data Storage Private Limited. The underlying Cash Generating Unit discontinued operations during the year, but management concluded no impairment is required based on plans to recommence operations. This assessment involves significant judgement.

Auditor's Emphasis of Matters

Standalone Financials

Emphasis on related party transactions without prior shareholder approval as required by Regulation 23 of SEBI Listing Regulations.

Consolidated Financials

1. Emphasis on recognition of deferred tax assets on carried forward losses based on management's assessment of future taxable profits

2. Emphasis on non-impairment of goodwill amounting to ₹4,278 lakhs allocated to Synthar CGU that discontinued operations

Signatories and Authentication

  • Company Secretary & Compliance Officer: Isha Arora
  • Chairman and Managing Director: Umesh Kumar (DIN: 01733060)
  • Statutory Auditor: Mehra Goel & Co (FRN: 000517N), Partner: Roshan Daultani (Membership No.: 137405)