Financial Results (Standalone)
Quarter Ended June 30, 2026 (Unaudited)
- Total Income: ₹558.60 lakhs (Previous quarter: ₹410.56 lakhs, Year-ago quarter: ₹1,032.31 lakhs)
- Revenue Breakdown:
- Interest Income: ₹198.39 lakhs
- Revenue from Securities Transaction: ₹360.21 lakhs
- Other Income: ₹0.00
- Expenses: ₹86.33 lakhs
- Profit Before Tax: ₹472.27 lakhs (vs loss of ₹485.81 lakhs previous quarter)
- Tax Expense: ₹120.87 lakhs
- Net Profit: ₹351.39 lakhs (vs loss of ₹437.36 lakhs previous quarter)
- Other Comprehensive Income: ₹14.15 lakhs (Remeasurements of Net Defined Plans)
- Total Comprehensive Income: ₹365.54 lakhs
- Basic & Diluted EPS: ₹6.62 (not annualized)
- Paid-up Equity Share Capital: ₹531.17 lakhs (Equity shares of ₹10 each)
Comparative Performance
- Year Ended March 31, 2026 (Audited): Net Loss of ₹575.96 lakhs on Total Income of ₹2,512.54 lakhs
- Quarter Ended June 30, 2025 (Unaudited): Net Profit of ₹165.84 lakhs on Total Income of ₹1,032.31 lakhs
Management Changes
Resignations
1. Mrs. Bansri Bhavesh Dedhia (DIN: 08627610) resigned as Chief Executive Officer and Director effective August 06, 2026
2. Mr. Dipak Ishwarlal Parikh (DIN: 09733159) resigned as Independent Director effective August 06, 2026
Appointments
1. Mr. Rajesh Shantilal Vakharia (DIN: 11874560) appointed as Chief Executive Officer and Director effective August 06, 2026 for a period of five years, subject to shareholder approval
- Profile: Seasoned capital markets professional with over three decades of experience, currently President - Securities Transaction at Tirupati Fincorp since April 2026
2. Mrs. Kinjal Darshit Parkhiya (DIN: 10553695) appointed as Additional Director (Independent Director) effective August 06, 2026 for FY 2026-27, subject to shareholder approval
- Profile: Practicing Company Secretary with over 8 years of expertise in corporate governance and compliance
Other Board Approvals
- Reconstitution of Board of Directors and its committees due to composition changes
- Appointment of M/s. CGCA & Associates LLP, Chartered Accountants (FRN: 123393W) as Statutory Auditor for 5 consecutive years from 44th AGM to 48th AGM (FY2026-27 to FY2030-31)
- Shifting of Registered Office from Rajasthan to Maharashtra
Regulatory Compliance Matters
RBI NBFC Registration
- RBI rejected application for grant of NBFC Certificate of Registration via letter dated May 19, 2025
- Company directed to stop financing business immediately as per RBI order
- Board resolution passed on August 11, 2025 to not pursue NBFC business
- Company sought 6-month extension from RBI for compliance with directions - outcome awaited
- Despite this, company continued financing activities during quarter
Cybersecurity Incident
- Company hit by ransomware cyber attack on July 03, 2026 (post-quarter end)
- All financial data including backups compromised and unrecoverable
- Management states no financial loss from this event
Subsidiary Information
- Wholly owned subsidiary TFL Supereco Automotive Private Limited incorporated on June 02, 2026
- Subsidiary results for quarter ended June 30, 2026: Revenue Nil, Net Loss ₹0.40 lakhs
Auditor Qualifications
JCR & Co. LLP (FRN: 105270W/W100846) issued qualified limited review report highlighting:
- Inability to verify correctness of interest expense/income due to unavailable loan documents
- Internal control gaps in lending business that need strengthening
- Professional tax deducted from employees but not remitted to authorities
- Company lacks mandatory professional tax registration
- Subsidiary results unaudited and certified by management only
Segment Reporting
Company operates in two reportable segments:
1. Lending and Financing Activity: PBT ₹240.38 lakhs, Assets ₹8,425.24 lakhs, Liabilities ₹9,700.67 lakhs
2. Investment and Trading in Securities: PBT ₹235.66 lakhs, Assets ₹2,156.48 lakhs, Liabilities ₹503.47 lakhs
Meeting Details
Board meeting conducted via video conferencing from 4:30 PM to 7:45 PM on August 06, 2026