Board Meeting Details

The Board of Directors meeting commenced at 5:00 PM and concluded at 5:20 PM on November 5, 2026.

Key Matters Approved

1. Financial Results Approval

The Board approved the Unaudited Standalone Financial Results for the quarter and half year ended September 30, 2026, along with the limited review report thereon.

2. CFO Appointment

Pursuant to Section 203 of the Companies Act, 2013 and Regulation 30 of SEBI (LODR) Regulations, 2015, the Board approved the appointment of Mr. Manish Kabra as the Chief Financial Officer (Key Managerial Personnel) of the Company with effect from November 5, 2026, based on the recommendation of the Nomination & Remuneration Committee.

3. Capital Raising Plan

The Board considered and approved raising additional capital to the extent of ₹20 Crore through issue of one or more instruments including:

  • Equity Shares
  • Convertible or Non-Convertible Securities of any description
  • Warrants
  • Debt Securities

The capital may be raised through Preferential Issue, Private Placements, Rights Issue, or any other methods or combination thereof as permitted under applicable laws, subject to regulatory/statutory approvals including shareholder approval.

Financial Results Summary (Standalone)

Quarterly Performance (Q2 FY27 vs Q2 FY26)

  • Revenue from Operations: ₹582.75 lakh (vs ₹228.78 lakh in Q2 FY26)
  • Profit Before Tax: ₹55.34 lakh (vs ₹9.36 lakh in Q2 FY26)
  • Profit After Tax: ₹53.55 lakh (vs ₹9.36 lakh in Q2 FY26)
  • Basic EPS: ₹2.44 (vs ₹0.47 in Q2 FY26)
  • Diluted EPS: ₹2.44 (vs ₹0.40 in Q2 FY26)

Half-Year Performance (H1 FY27 vs H1 FY26)

  • Revenue from Operations: ₹926.72 lakh (vs ₹453.68 lakh in H1 FY26)
  • Profit Before Tax: ₹260.97 lakh (vs ₹118.42 lakh in H1 FY26)
  • Profit After Tax: ₹214.19 lakh (vs ₹86.16 lakh in H1 FY26)
  • Basic EPS: ₹9.77 (vs ₹4.29 in H1 FY26)
  • Diluted EPS: ₹9.77 (vs ₹3.69 in H1 FY26)

Revenue Breakdown (Quarter Ended September 30, 2026)

  • Interest Income: ₹107.97 lakh
  • Dividend Income: ₹62.45 lakh
  • Net gain on fair value changes: ₹873.19 lakh
  • Sale of Share and Securities: ₹4,952.52 lakh
  • Other operating Income: (₹168.68) lakh
  • Total Revenue from operations: ₹5,827.45 lakh

Expense Breakdown (Quarter Ended September 30, 2026)

  • Finance Costs: ₹9.87 lakh
  • Purchases of Stock-in-trade: ₹5,568.82 lakh
  • Employee Benefits Expenses: ₹23.64 lakh
  • Depreciation, amortization and impairment: ₹0.82 lakh
  • Others expenses: ₹35.07 lakh
  • Total Expenses: ₹5,274.06 lakh

Tax Expense (Quarter Ended September 30, 2026)

  • Current year Tax: ₹17.94 lakh

Balance Sheet Position (As at September 30, 2026)

Assets (₹ in Lakhs)

  • Total Assets: ₹13,865.78 (vs ₹12,284.74 as at March 31, 2026)
  • Financial Assets:
  • Cash and cash equivalents: ₹581.03
  • Bank Balance other than cash: ₹2,157.36
  • Trade Receivables: ₹20.17
  • Other Receivables: ₹182.37
  • Loans: ₹2,039.90
  • Investments: ₹3,421.47
  • Non-Financial Assets:
  • Inventories: ₹3,999.32
  • Current tax assets (Net): ₹127.47
  • Property, Plant and Equipment: ₹12.20
  • Capital Work in Progress: ₹1,323.95
  • Other non-financial assets: ₹0.54

Liabilities and Equity (₹ in Lakhs)

  • Financial Liabilities:
  • Trade Payables: ₹48.43
  • Other Payables: ₹1.79
  • Borrowings (Other than Debt Securities): ₹25.68
  • Other financial liabilities: ₹12.00
  • Non-Financial Liabilities:
  • Provisions: ₹5.83
  • Deferred Tax Liabilities (Net): ₹14.87
  • Other non-financial liabilities: ₹7.09
  • Equity:
  • Equity share capital: ₹2,192.14 (Face Value of ₹10 Each)
  • Other equity: ₹11,557.95

Cash Flow Statement (Half Year Ended September 30, 2026)

  • Net cash flow from operating activities: (₹520.25) lakh
  • Net cash from investing activities: ₹626.67 lakh
  • Net cash from financing activities: (₹109.61) lakh
  • Net decrease in Cash and cash equivalents: (₹3.19) lakh
  • Cash and cash equivalents at end of period: ₹581.03 lakh

Additional Information

  • The financial results were prepared in accordance with Indian Accounting Standards (Ind AS)
  • The company's main business is NBFC Activity with no separate reportable segments as per Ind AS 108
  • The results were reviewed by the Audit Committee and approved by the Board of Directors
  • Figures of previous periods have been regrouped/reclassified where necessary
  • The unaudited financial results will be available on the company's website (www.upsurgeinvestment.com) and BSE website (www.bseindia.com)

Auditor Review

Jain & Trivedi, Chartered Accountants (Firm Registration No. 113496W) issued a limited review report stating that nothing has come to their attention that causes them to believe that the financial results contain any material misstatement. The review was conducted in accordance with SRE 2410 issued by ICAI.