Board outcome: Q2 results, unqualified auditor review, three senior appointments
Board on November 04, 2026 approved three appointments: Mr. Mannohan Jindal as Additional Non-Executive Independent Director for a first term of five consecutive years (subject to shareholder approval).
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 295.40 | 350.22 | −15.7% | 247.32 | +19.4% |
| Total income | 304.58 | 350.49 | −13.1% | 247.68 | +23% |
| Profit before tax | 2.12 | 5.37 | −60.5% | 3.55 | −40.3% |
| Profit after tax | 0.79 | 7.44 | −89.4% | 6.21 | −87.3% |
| Total comprehensive income | 1.88 | 8.52 | −77.9% | 6.25 | −69.9% |
| Basic EPS | 0.01 | 0.05 | −80% | 0.04 | −75% |
- Profit after tax year ago
- 7.44 (−89.4%)
- Period
- 3 months ended 30.09.2026
Also decided at the meeting
- Appointed Mr. Manmohan Jindal as Additional Non-Executive Independent Director w.e.f. November 04, 2026 for a term of 5 years, subject to shareholders' approval.
- Appointed Mr. Mitesh M. Pujara as Chief Operating Officer and designated him as Key Managerial Personnel w.e.f. November 04, 2026.
- Appointed Mr. Ganesh Ruvikar (Membership No. A81580) as Whole-time Company Secretary and Compliance Officer w.e.f. November 04, 2026.
Auditor's review
Conclusion: Unmodified
- Emphasis of Matter: even though the going-concern view of the company is improving, the revenue needs to be further increased.
- Emphasis of Matter: properties under legal repossession under the SARFAESI act are treated as assets held for sale; surplus funds are returned to customers.
Notes to the results
- During the quarter and half year ended 30 September 2026 INR 128.01 lakhs received against Asset held for sale, and INR 81.62 lakhs for the quarter ended 30 June 2026.
- Of Rs 20,00,00,000 NCDs issued in 2020, the company repaid Rs. 337.50 lakhs (excluding interest) till 30 September 2026; in talks with bankers to convert the remainder into term loan / moratorium.
- Assets under Management decreased to INR 4731 Lakhs as on 30 September 2026 from INR 4858 Lakhs as on 30 June 2026.
Board meeting outcome
The board met on November 04, 2026 and approved the unaudited (Ind-AS) financial results for the quarter and half year ended September 30, 2026, together with three appointments at the company.
People moves
- Mr. Mannohan Jindal was appointed an Additional Non-Executive Independent Director for a first term of five consecutive years, subject to approval of the shareholders at the ensuing Annual/Extraordinary General Meeting. The update cites long banking experience and prior independent-director experience, with exposure to financial analysis, risk assessment, regulatory compliance and corporate governance. He is not related to any director of the company.
- Mr. Mitesh M. Pujara was appointed Chief Operating Officer and designated a Key Managerial Personnel. He has worked in financial services and capital markets and earlier served as a Whole-time Director of the company. He is the son of Mr. Mahesh N. Pujara, Director and Chief Executive Officer, which the update discloses under relationships between directors.
- Mr. Ganesh Ruvikar was appointed Whole-time Company Secretary and Compliance Officer. He is an Associate Member of the Institute of Company Secretaries of India and holds LL.B., M.Com. and B.Com. degrees from the University of Mumbai.
All three appointments take effect from November 04, 2026.
Auditor's view
H K Shah & Co, the statutory auditors, issued their limited review report with an unqualified conclusion - nothing came to their attention suggesting material misstatement or non-disclosure against the listing rules. They flagged two emphasis of matters:
- The going-concern view of the company is improving, but revenue needs to be further increased.
- Collateral is held wherever required under the SARFESI Act; surplus funds are returned to customers, and properties under legal repossession are treated as assets held for sale.
The quarter in numbers (standalone, unaudited)
- 'Revenue from operations': Rs. 295.40 lakh, against Rs. 350.22 lakh in the corresponding quarter of the previous year.
- 'Net Profit after Tax': Rs. 0.79 lakh, against Rs. 7.44 lakh in that earlier quarter.
- Basic earnings per share for the quarter: 0.01.
- For the half year ended September 30, 2026, 'Net Profit after Tax' was Rs. 6.99 lakh.
Portfolio size
Assets under management stood at Rs. 4731 lakh as on September 30, 2026, down from Rs. 4858 lakh as on June 30, 2026. The update describes this book as loans to salaried, self-employed and farmer customers, net of direct assignment.
What a retail investor may want to track
- Revenue and net profit for the quarter are lower than the same quarter a year earlier, and the earnings per share for the quarter is small.
- The auditors used their emphasis of matter to point at revenue growth as the area that needs improvement, while calling the going-concern view improving.
- Three key roles - an independent director, the chief operating officer and the company secretary/compliance officer - were filled at the same meeting; the independent director's term still needs shareholder approval.
- AUM moved lower over the three months to September 30, 2026.
Also from India Home Loan
Board meeting on 04 November 2026 to consider unaudited results for September quarter
30 Oct 2026
More numbers
- Revenue from operations, Q2 FY27 (standalone)295.40 (INR in Lakhs)
- Revenue from operations, Q2 FY26 (standalone)350.22 (INR in Lakhs)
- Net Profit after Tax, Q2 FY27 (standalone)0.79 (INR in Lakhs)
- Net Profit after Tax, Q2 FY26 (standalone)7.44 (INR in Lakhs)
- Net Profit after Tax, half year ended 30.09.20266.99 (INR in Lakhs)
- Assets under management as on 30.09.20264731 INR Lakhs
- Assets under management as on 30.06.2026INR 4858 Lakhs
- Total income, latest quarter304.58 (INR IN Lakhs)
- Total income, year-ago quarter350.49 (INR IN Lakhs)
- Total income, previous quarter247.68 (INR IN Lakhs)
- Total comprehensive income, latest quarter1.88 (INR IN Lakhs)
- Total comprehensive income, year-ago quarter8.52 (INR IN Lakhs)
- Total comprehensive income, previous quarter6.25 (INR IN Lakhs)
- Profit after tax, latest quarter0.79 (INR IN Lakhs)
- Profit after tax, year-ago quarter7.44 (INR IN Lakhs)
- Profit after tax, previous quarter6.21 (INR IN Lakhs)
- Revenue from operations, latest quarter295.40 (INR IN Lakhs)
- Revenue from operations, year-ago quarter350.22 (INR IN Lakhs)
- Revenue from operations, previous quarter247.32 (INR IN Lakhs)
- Profit before tax, latest quarter2.12 (INR IN Lakhs)
- Profit before tax, year-ago quarter5.37 (INR IN Lakhs)
- Profit before tax, previous quarter3.55 (INR IN Lakhs)
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