Summary of Key Information:
Reporting Period: Quarter and Year ended March 31, 2026
Nature of Filing / Announcement: Outcome of Board Meeting - Audited Financial Results
Audit Opinion:
Unmodified opinion with emphasis of matter regarding material uncertainty related to going concern.
Auditor’s Comment:
The auditors drew attention to notes 7, 9, and 10 regarding breach of security cover and other loan covenants, continued financial stress including deteriorating asset quality, restructuring plan presented to existing lenders, and potential equity infusion. The increased loss in the current year indicates conditions that may cast significant impact to the going concern of the company. The going concern is dependent upon the restructuring plan and potential equity infusion.
Key Financial Highlights [Rs in lacs]:
Standalone Results:
Revenue from Operations:
- Q4 FY26: 1,449.86 vs Q4 FY25: 3,531.51 (YoY decline)
- FY26: 8,241.21 vs FY25: 19,641.56 (YoY decline)
Total Income:
- Q4 FY26: 1,514.59 vs Q4 FY25: 3,603.95
- FY26: 8,548.10 vs FY25: 19,925.61
Net Profit/(Loss):
- Q4 FY26: (1,771.28) vs Q4 FY25: (7,043.49)
- FY26: (11,042.33) vs FY25: (6,660.53)
EPS (Not annualized):
- Basic Q4 FY26: (2.23) vs Q4 FY25: (6.03)
- Basic FY26: (9.29) vs FY25: (5.70)
- Diluted Q4 FY26: (2.23) vs Q4 FY25: (6.03)
- Diluted FY26: (9.29) vs FY25: (5.70)
Other Equity:
- As at March 31, 2026: 2,951.24 vs March 31, 2025: 13,881.18
Cash and Cash Equivalents:
- As at March 31, 2026: 818.86
Debt:
- Debt Securities: 13,915.19
- Borrowings (Other than Debt Securities): 19,583.81
- Total Financial Liabilities: 33,792.14
Consolidated Results:
Revenue from Operations:
- Q4 FY26: 1,522.03 vs Q4 FY25: 3,608.62
- FY26: 8,443.86 vs FY25: 19,897.63
Total Income:
- Not separately specified in consolidated data
Net Profit/(Loss):
- Q4 FY26: (1,614.99) vs Q4 FY25: (6,773.21)
- FY26: (11,265.15) vs FY25: (5,925.00)
EPS:
- Not specified in consolidated data
Other Equity:
- As at March 31, 2026: 2,722.95 vs March 31, 2025: 13,875.70
Cash and Cash Equivalents:
- As at March 31, 2026: 834.07 vs March 31, 2025: 3,901.53
Debt:
- Debt Securities: 13,915.19
- Borrowings (Other than Debt Securities): 19,211.85
- Total Financial Liabilities: 33,427.86
Segment-wise Performance:
The Company has two reportable business segments:
1. Fund Based Activities
2. Advisory Services
Segment Revenue:
- Q4 FY26: Fund Based: 1,522.03; Advisory: Not specified
- FY26: Fund Based: 8,443.86; Advisory: Not specified
Segment Results (Profit/(Loss) before tax):
- Q4 FY26: Fund Based: (2,569.57); Advisory: (45.64); Total: (2,615.21)
- FY26: Fund Based: (14,652.89); Advisory: (202.02); Total: (14,854.91)
Corporate Actions:
No dividend declarations, share splits, bonus issues, buybacks, or capital raising activities were announced during the quarter.
Other Significant Information:
Debt Restructuring Plan:
The company has presented a comprehensive business plan to lenders comprising Gold loans and EV lending as part of restructuring effort. The plan proposes:
- 4-year repayment schedule: 10% in year 1, 20% in year 2, 30% in year 3, and 40% in year 4
- Interest payment of 8% per year on monthly basis
- Potential conversion of some debt to equity
Foreign Exchange Loss:
The company incurred Rs. 12.96 crore loss in FY26 due to unhedged foreign currency exposure on ECB loans from responsAbility AG and Blue Orchard. The loss resulted from:
- Credit rating downgrade in July 2025 leading to un-hedging of exposures by AD banks between August and December 2025
- INR depreciation from 89.92 in Dec 2025 to 95.65 in March 2026 due to Iran-US conflict
- Rs. 5.5 crore hit in December 2025 and Rs. 7.45 crore hit in March 2026
Asset Quality:
- GNPA%: 25.24% as at March 31, 2026 vs 3.69% as at March 31, 2025
- NNPA%: 15.63% as at March 31, 2026 vs 2.17% as at March 31, 2025
- Overall Provision Coverage Ratio: 38.05% as at March 31, 2026 vs 41.08% as at March 31, 2025
Entities in Consolidation:
1. TruCap Finance Limited (Parent)
2. DFL Technologies Private Limited (Subsidiary)