Board approved unaudited standalone and consolidated results for quarter and half year ended September 30, 2026
Board meeting on Oct 15, 2026 approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026, with the Statutory Auditors' Limited Review Report.
By ScoutQuest · · 4 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 189.51 | 567.11 | −66.6% | 414.68 | −54.3% |
| Total income | 194.85 | 573.71 | −66% | 415.43 | −53.1% |
| Profit before tax | (693.34) | 10.43 | — | (118.97) | −483% |
| Profit after tax | (693.34) | 58.88 | — | (118.97) | −483% |
| Total comprehensive income | (693.34) | 58.95 | — | (119.55) | −480% |
| Basic EPS | (0.11) | 0.01 | — | (0.02) | −450% |
- Total Income (Year ago)
- 573.71 (−66%)
- Period
- 30-Sep-26
Auditor's review
Conclusion: Unmodified
- Emphasis of matter: ED proceedings under PMLA against a promoter and director and associated entities (Note 9); no predicate offence alleged against the Company, no Company assets attached; outcome uncertain.
- Emphasis of matter: financial assistance of Rs. 64.00 Crores to Elitecon International Limited, with accrued interest Rs. 12.08 Crores and penal interest Rs. 1.35 Crores, under dispute; carried as recoverable (Note 10).
Notes to the results
- Rs. 77.43 Crores outstanding from Elitecon International Limited (principal Rs. 64.00 Crores, interest Rs. 12.08 Crores, penal interest Rs. 1.35 Crores) under legal/arbitral proceedings; carried as financial asset.
- Income tax liabilities aggregating to Rs. 7.98 Crores were outstanding and unpaid as at September 30, 2026 due to temporary liquidity constraints.
- Parent received a SEBI communication dated July 15, 2026 under section 11C(3) of the SEBI Act; matter at preliminary investigation stage, impact not ascertainable.
- ED issued a Provisional Attachment Order under PMLA on assets of a director and promoter and associated entities; no Company assets attached; no adjustment made in results.
What the board approved
The Board of Directors met on Thursday, October 15, 2026 from 03:00 P.M. to 03:45 P.M. and considered and approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026, along with the Limited Review Report issued by the Statutory Auditors of the Company.
Auditor's review conclusion
The Limited Review Report comes from MASAR & Co., Chartered Accountants. It carries no qualification: based on the review, nothing has come to the auditors' attention that causes them to believe the statement is not prepared in accordance with Ind AS 34 and other accounting principles generally accepted in India, or that it contains any material misstatement. A review gives less assurance than an audit and no audit opinion is expressed. The statement includes the results of Advika Finvest Limited, a wholly owned subsidiary of the parent.
What the auditors highlighted (Emphasis of Matters)
- ED proceedings: the Directorate of Enforcement issued a Provisional Attachment Order under the Prevention of Money Laundering Act, 2002 in respect of certain assets and properties of one director and promoter of the parent company, and other entities and individuals associated with that director and promoter. The proceedings relate to ongoing investigations concerning certain foreign investments, including investments through Foreign Portfolio Investors, Qualified Institutional Placements and other foreign entities, and the alleged linkage of ultimate beneficiaries of such investments. The parent company states it has not received any allegation that it has committed any predicate offence under the PMLA, and that no asset, property, bank account or business undertaking of the parent company has been attached. The ultimate outcome is uncertain and no adjustment has been made in the financial results in respect of this matter.
- Loan to Elitecon International Limited: financial assistance aggregating to Rs. 64.00 Crores was extended by the company during financial year 2024-25, disbursed in multiple tranches between August 21, 2024 and August 30, 2024. Recovery is presently under dispute and subject to ongoing legal/arbitral proceedings. As at September 30, 2026 an amount aggregating to Rs. 77.43 Crores remains outstanding and unpaid, comprising principal of Rs. 64.00 Crores, accrued interest of Rs. 12.08 Crores and penal interest of Rs. 1.35 Crores. The respondents have disputed the nature of the transaction and certain underlying documents. Based on management's assessment and legal advice, the outstanding amount continues to be considered recoverable and is carried as a financial asset; the ultimate outcome cannot presently be determined.
Key numbers from the results (consolidated, figures in lakh)
- Revenue from operations: 189.51 for the quarter ended 30-Sep-26, 604.20 for the half year ended 30-Sep-26, and 136.55 for the year ended 31-Mar-26.
- Total income: 194.85 for the quarter and 610.28 for the half year.
- Loss for the period: (693.34) for the quarter and (812.31) for the half year.
- Finance costs: 663.21 for the quarter.
- Total assets: 41,424.42 as at 30-Sep-26 against 30,272.03 as at 31-Mar-26.
- Borrowings: 26,251.20 as at 30-Sep-26 against 14,387.63 as at 31-Mar-26.
- Cash and cash equivalents: 95.82 as at 30-Sep-26 against 968.09 as at 31-Mar-26.
Other notes in the results
- Income tax liabilities aggregating to Rs. 7.98 Crores were outstanding and unpaid as at September 30, 2026. Management submits the delay arose on account of temporary liquidity constraints and prioritisation of operational funding and investment requirements, and states it is taking necessary steps for settlement.
- The parent company received a communication dated July 15, 2026 from SEBI in reference to section 11C(3) of the SEBI Act 1992. The matter is currently at a preliminary stage of investigation, and any financial impact, if at all, cannot be ascertained at this point in time.
- The group operates in two operating segments, Financing and Trading in Securities, as reviewed by the Chief Operating Decision Maker, and its operations are confined to India.
What this means for a reader
The update is the routine quarterly outcome, with results approved and reviewed with a clean conclusion. The items that draw attention are the loss reported for the quarter and half year, the two emphasis-of-matter notes (an ED provisional attachment order involving a promoter and director, and a large disputed loan receivable), the unpaid income tax liability, and the SEBI communication. Management's stated position is that these matters do not have any immediate impact on the company's operations or financial results, and no adjustment has been made in the results for them.
Also from Advik Capital
Board meeting on October 15, 2026 to consider, approve and take on record unaudited results
12 Oct 2026
More numbers
- Total income, half year ended 30-Sep-26 (consolidated)610.28 lakh
- Loss for the period, half year ended 30-Sep-26 (consolidated)(812.31) lakh
- Total assets as at 30-Sep-26 (consolidated)41,424.42 lakh
- Borrowings as at 30-Sep-26 (consolidated)26,251.20 lakh
- Financial assistance extended to Elitecon International LimitedRs. 64.00 Crores
- Amount outstanding from Elitecon International Limited as at September 30, 2026Rs. 77.43 Crores
- Income tax liabilities outstanding and unpaid as at September 30, 2026Rs. 7.98 Crores
- Total income, latest quarter194.85 (Amount in Lakhs)
- Total income, year-ago quarter573.71 (Amount in Lakhs)
- Total income, previous quarter415.43 (Amount in Lakhs)
- Total comprehensive income, latest quarter(693.34) (Amount in Lakhs)
- Total comprehensive income, year-ago quarter58.95 (Amount in Lakhs)
- Total comprehensive income, previous quarter(119.55) (Amount in Lakhs)
- Profit after tax, latest quarter(693.34) (Amount in Lakhs)
- Profit after tax, year-ago quarter58.88 (Amount in Lakhs)
- Profit after tax, previous quarter(118.97) (Amount in Lakhs)
- Revenue from operations, latest quarter189.51 (Amount in Lakhs)
- Revenue from operations, year-ago quarter567.11 (Amount in Lakhs)
- Revenue from operations, previous quarter414.68 (Amount in Lakhs)
- Profit before tax, latest quarter(693.34) (Amount in Lakhs)
- Profit before tax, year-ago quarter10.43 (Amount in Lakhs)
- Profit before tax, previous quarter(118.97) (Amount in Lakhs)
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