SFSG Finserve539199Quarterly results

Board approves September quarter results, two minority stake buys, GIFT City finance company plan

Board meeting on October 16, 2026 approved the un-audited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026.

By ScoutQuest · Fri 16 Oct 2026, 2:02 PM IST · 4 min read

Minority stake acquisition

24.5% of SG Enterprise Solutions Private Limited (12,250 equity shares) for ₹ 1,22,500 in cash

Minority stake acquisition

15.5% of Successship Technologies Private Limited for ₹ 4.65 crore in cash

GIFT City finance company plan

up to USD 5 million (approximately ₹48 crore) as a wholly owned subsidiary

The Board of the company met on Friday, October 16, 2026, from 11:00 A.M. to 01:50 P.M., and took a number of decisions apart from approving the un-audited financial results for the quarter and half-year ended September 30, 2026.

Results and the auditor's review conclusion

The Board approved the Un-Audited Financial Results (Standalone & Consolidated) of the company for the quarter and half-year ended September 30, 2026, along with the Limited Review Report issued by M/s. S. P. Chopra & Co., Chartered Accountants, the statutory auditors. The review was carried out under the Standard on Review Engagements (SRE) 2410, which requires the auditors to plan and perform the review to obtain moderate assurance; the auditors state that they do not express an audit opinion. The conclusion: based on the review, nothing has come to the auditors' attention that causes them to believe that the statement of un-audited financial results, prepared in accordance with applicable Ind AS and other recognised accounting practices and policies, has not disclosed the information required by the listing regulations, or that it contains any material misstatement, or that it has not been prepared in accordance with the relevant prudential norms and directions issued by the Reserve Bank of India in respect of income recognition, asset classification, provisioning and other related matters. The consolidated statement covers SG Finserve Limited as Parent / Holding Company and two wholly owned subsidiaries: SG Insurance Brokers Limited (with effect from June 19, 2026) and SG Alternative Investment Fund Limited (with effect from July 16, 2026).

Acquisition of 24.5% in SG Enterprise Solutions Private Limited On the Audit Committee's recommendation, the Board approved the acquisition of 24.5% of the issued, subscribed and paid-up equity share capital of SG Enterprise Solutions Private Limited — 12,250 equity shares — for an aggregate cash consideration of ₹ 1,22,500.

• The seller is SG Green Buildings Private Limited, a related party of the company; the promoters of the company, together with their immediate relatives, hold equity share capital of SG Green Buildings Private Limited.
• The target entity is a group shared services company that will provide common corporate support services to participating group entities through a centralised shared services model.
• Post acquisition, the target becomes an associate of the company. The acquisition is expected to be completed by December 31, 2026.

Acquisition of 15.5% in Successship Technologies Private Limited The Board also approved the acquisition of 15.5% of the issued, subscribed and paid-up equity share capital of Successship Technologies Private Limited for an aggregate cash consideration of ₹ 4.65 crore.

• This acquisition does not constitute a related party transaction, and the promoter, promoter group and group companies of the company have no interest in the target.
• The target is in IT Services. The stated purpose is to enable and strengthen in-house AI and Digital capabilities for the company's captive Supply Chain Financing and Digital Lending requirements, and to provide AI-enabled services to its Corporate and MSME customers.
• The target's turnover was Rs. 52.5 Lakh in FY 2025-26. The acquisition is expected to be completed by March 31, 2027.

Plan for a finance company in GIFT City

The Board approved an investment plan of up to USD 5 million (approximately ₹48 crore) for setting up a finance company in GIFT City as a wholly owned subsidiary of the company, subject to obtaining the requisite regulatory and statutory approvals. The Board delegated the necessary powers to the Finance Committee of the company to undertake all requisite actions and complete the necessary formalities in connection with the proposed investment and incorporation of the subsidiary.

Change in Internal Auditor

Mr. Saurabh Mishra will transition from his current role as Head – Internal Audit and shall step down from this position with effect from the close of the business hours of October 16, 2026, to pursue other responsibilities within the organisation. The Board approved the appointment of Mr. Alok Bhushan as the Internal Auditor of the company with effect from October 17, 2026. He is a banking professional with experience in the banking and financial services sector, has held senior positions with State Bank of India and Bank of Baroda, and served as Deputy General Manager prior to his superannuation from State Bank of India in August 2025. He is not related to any director or key managerial personnel of the company.

Points to note

• The financial results are un-audited and have been reviewed, not audited, so the assurance given is limited, as the auditors' report itself states.
• Of the two stake purchases, one is from a related party and the other is not a related party transaction.
• The GIFT City investment is an approved plan, subject to obtaining the requisite regulatory and statutory approvals.

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