Financial Performance
Standalone Performance (FY 2025-26 vs FY 2024-25):
- Total Income: ₹3,234.49 lakhs (vs ₹2,165.10 lakhs)
- Profit After Tax: ₹1,991.18 lakhs (vs ₹786.38 lakhs) - 153% increase
- EPS: ₹8.69 (vs ₹3.45)
Consolidated Performance (FY 2025-26 vs FY 2024-25):
- Total Income: ₹18,631.15 lakhs (vs ₹28,242.83 lakhs)
- Profit After Tax: ₹1,748.18 lakhs (vs Loss of ₹46.99 lakhs) - Meaningful turnaround
- EPS: ₹7.73 (vs Negative ₹0.16)
Key Assets & Liabilities:
- Investments: ₹12,215.78 lakhs including quoted equity, mutual funds, and AIF
- Trade receivables: ₹2,310.00 lakhs with allowance for doubtful debts of ₹916.78 lakhs
- Borrowings: ₹4,278.00 lakhs (₹3,366.75 lakhs in FY25)
- Property, Plant and Equipment: ₹2,212.50 lakhs net carrying value
Strategic Investment Decision
The company made a deliberate decision to move over 65% of its portfolio into cash and gold more than a year ago in response to FII selling headwinds. Gold delivered returns in excess of 70% over 16 months. The company has begun liquidating this position and intends to complete the exit in the near term, with proceeds to be redeployed into equities. Risk management included long-dated exchange-traded options as protective downside cover.
Segment Performance
Consolidated Segment Revenue:
- Capital Market: ₹5,097.37 lakhs (vs ₹14,900.22 lakhs)
- Trading: ₹1,234.26 lakhs (vs ₹2,156.19 lakhs)
- Manufacturing: ₹12,173.46 lakhs (vs ₹11,070.15 lakhs)
Subsidiaries Performance:
- Vibrant Global Trading Private Limited: Loss After Tax of ₹193.98 lakhs (improved from loss of ₹462.07 lakhs)
- Vibrant Global Salt Private Limited: Loss After Tax of ₹62.68 lakhs (improved from loss of ₹378.13 lakhs)
Corporate Developments
Post-Balance Sheet Event: Acquired 65% equity stake in The Private Reserve Capital Pvt. Ltd. on June 2, 2026 for ₹5,99,81,423, making it a subsidiary engaged in PMS, Category III AIFs, and wealth advisory.
Board Changes: Ms. Khushboo Pasari ceased as Non-executive Independent Director after completing her second term. Mrs. Chhaya Ambrish Kapadia appointed as Additional Non-Executive Independent Director. Mr. Vaibhav Vinod Garg retires by rotation and is recommended for reappointment.
Corporate Governance & Compliance
- CSR spending: ₹61.17 lakhs on various socio-economic projects
- Interim dividend of ₹0.65 per equity share declared and paid during the year
- Secretarial Audit and Statutory Audit conducted with unqualified reports
- All SEBI and RBI compliance requirements met
- Contingent liabilities include income tax disputes totaling ₹136.73 lakhs
Outlook
The company believes FY 2026-27 marks the start of a new cycle for Indian capital markets with FIIs expected to return later this year. The Nifty is expected to move towards fresh all-time highs after two years of negative returns.