Hybrid Financial Services500262Quarterly results
Board approves unaudited results for quarter and half year ended 30 September 2026; auditor conclusion unmodified
Board on 2 November 2026 approved the unaudited results for the quarter and half year ended 30 September 2026 and took on record the statutory auditors' Limited Review Report.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 114.93 | 105.52 | +8.9% | 107.16 | +7.3% |
| Total income | 204.34 | 184.92 | +10.5% | 151.43 | +34.9% |
| Profit before tax | 116.36 | 108.35 | +7.4% | 58.22 | +99.9% |
| Profit after tax | 116.36 | 108.54 | +7.2% | 58.22 | +99.9% |
| Total comprehensive income | (233.96) | (376.23) | +37.8% | 733.74 | — |
| Basic EPS | 0.40 | 0.37 | +8.1% | 0.20 | +100% |
- Total Income Growth
- Year ago 184.92 (+10.5%); Prev qtr 151.43 (+34.9%)
- Profit After Tax
- 116.36 lakhs; Year ago 108.54 (+7.2%); Prev qtr 58.22 (+99.9%)
- Period
- Quarter Ended 30.09.2026 (Unaudited)
Auditor's review
Conclusion: Unmodified
- Emphasis of matter: attention drawn to Note 4 describing accounting for merger of wholly owned subsidiary Maximus Securities Limited per NCLT order dated 16th October 2025, effective from 1st April 2024.
Notes to the results
- NCLT approved merger of subsidiary Maximus Securities Limited with the Company by order dated 16th October 2025, effective from 1st April 2024; merged entity accounts provided from December 2025 quarter.
- Company yet to start stock broking in own name; BSE membership transferred 1st September 2026, NSE/NSE Clearing and NSDL applications under process.
- Provisions and Write Offs of Rs. 2.67 Lakhs for half year ended 30th September 2026 represent irrecoverable debit balances of depository clients outstanding over three years.
- During previous year the Company reversed Contingency Provision of Rs.465.07 Lakhs no longer required.
What the board approved
- The board met on 2 November 2026 and approved the unaudited financial results for the quarter and half year ended 30 September 2026.
- It took on record the Limited Review Report of the statutory auditors, S. Ramanand Aiyar & Co, Chartered Accountants.
- The notes state the accounts represent consolidated business operations, including those of the previously wholly owned subsidiary Maximus Securities Ltd, which has merged into the company.
How the auditors read the numbers
The review conclusion is unmodified — nothing came to the auditors' attention that causes them to believe the statement contains any material misstatement or omits disclosures required under SEBI's listing rules. The auditors drew attention to Note No.4, which sets out the accounting for the merger of Maximus Securities Ltd, approved by NCLT by its order dated 16th October 2025 and effective from 1st April 2024. A draw-attention paragraph points readers to a specific note; it is not a qualification of the reported figures. A limited review is narrower than a full audit: it rests on inquiries and analytical procedures, so it carries less assurance than an audit opinion.
The reported figures (Rs. in Lakhs)
- Total Income for the quarter ended 30.09.2026: 204.34. Profit after Exceptional Items and Tax: 116.36.
- Half year ended 30.09.2026: Total Income 355.77, against 335.49 in the half year ended 30.09.2025.
- Profit after Exceptional Items and Tax for the half year: 174.58, against 182.25 in the year-earlier half.
- Basic EPS for the half year: 0.59, marked not annualised; diluted EPS is the same.
- Cash and Cash Equivalents at the end of the half year: 567.26.
What else moved the numbers
- Other Comprehensive (Loss) Income for the quarter was negative, mainly from remeasurement of gains and losses on non-current investments. That pulled Total Comprehensive (Loss) Income for the quarter into a loss even though Profit after Exceptional Items and Tax was positive.
- Provisions and write-offs in the half year include debit balances of depository clients outstanding for more than three years.
- The company states that contingency provisions are reviewed periodically by management, with prior-year reversals made where no longer required.
Business transition
- The company's new principal business is stock broking and allied businesses. It has received SEBI's Single Registration Certificate dated 17th June 2026, transfer of Trading Membership from BSE Ltd on 1st September 2026 and Self Clearing Membership from BSE Clearing Ltd on 29th September 2026.
- Applications to NSE and NSE Clearing for transfer of membership, and to NSDL for depository participant rights, are under process. The company is yet to start the stock broking business in its own name, pending approval of transfer of trading membership by NSE.
- NCLT approved the merger of Maximus Securities Ltd with the company by order dated 16th October 2025, effective 1st April 2024; the certified true copy of the order was received on 8th December 2025. Residual compliances with the stock exchanges and allied operations are being carried out.
What a retail reader can take away
- This is the company's regular quarterly disclosure, combining the September-quarter numbers with a status update on the shift to a broking-led business.
- Half-year profit was slightly lower than in the year-earlier half, and the remeasurement of non-current investments produced an other-comprehensive loss in the quarter.
- The auditors' conclusion is unmodified, with the merger accounting flagged for attention rather than qualified.
₹567.26 lakhCash and Cash Equivalents at end of period (Rs. in Lakhs
Profit after Exceptional Items and Tax, half year ended 30.09. (Rs. in Lakhs₹174.58 lakh
Profit after Exceptional Items and Tax, quarter ended 30.09. (Rs. in Lakhs₹116.36 lakh
Profit after tax, year-ago quarter108.54 (Rs. in Lakhs)
Profit before tax, year-ago quarter108.35 (Rs. in Lakhs)
Profit after tax, quarter58.22 (Rs. in Lakhs)
₹174.58 lakh-4.2%
2025₹182.25 lakh2026₹174.58 lakh
Also from Hybrid Financial Services
Board meeting on 2 November 2026 to consider unaudited Q2 and H1 results
19 Oct 2026
More numbers
- Total Income, half year ended 30.09.2026 (Rs. in Lakhs)355.77
- Profit after Exceptional Items and Tax, half year ended 30.09.2026 (Rs. in Lakhs)174.58
- Total Income, half year ended 30.09.2025 (Rs. in Lakhs)335.49
- Profit after Exceptional Items and Tax, half year ended 30.09.2025 (Rs. in Lakhs)182.25
- Basic EPS, half year (Not annualised)0.59
- Cash and Cash Equivalents at end of period (Rs. in Lakhs)567.26
- Total income, latest quarter204.34 (Rs. in Lakhs)
- Total income, year-ago quarter184.92 (Rs. in Lakhs)
- Total income, previous quarter151.43 (Rs. in Lakhs)
- Total comprehensive income, latest quarter(233.96) (Rs. in Lakhs)
- Total comprehensive income, year-ago quarter(376.23) (Rs. in Lakhs)
- Total comprehensive income, previous quarter733.74 (Rs. in Lakhs)
- Profit after tax, latest quarter116.36 (Rs. in Lakhs)
- Profit after tax, year-ago quarter108.54 (Rs. in Lakhs)
- Profit after tax, previous quarter58.22 (Rs. in Lakhs)
- Revenue from operations, latest quarter114.93 (Rs. in Lakhs)
- Revenue from operations, year-ago quarter105.52 (Rs. in Lakhs)
- Revenue from operations, previous quarter107.16 (Rs. in Lakhs)
- Profit before tax, latest quarter116.36 (Rs. in Lakhs)
- Profit before tax, year-ago quarter108.35 (Rs. in Lakhs)
- Profit before tax, previous quarter58.22 (Rs. in Lakhs)
Source: BSE · 2 Nov 2026
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