Shriram Asset Management Company531359Quarterly results
Board approves results for quarter and half year ended September 30, 2026, new Vice-Chairman and fund manager
Mr. Vikrant Kishore Gugnani appointed Additional Director (Executive & Non-Independent) and Vice-Chairman & Whole-Time Director for 3 years from November 16, 2026; shareholders' approval via postal ballot.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Total income | 296.86 | 297.28 | −0.1% | 404.46 | −26.6% |
| Profit before tax | (941.12) | (440.37) | −114% | (682.84) | −37.8% |
| Profit after tax | (941.69) | (440.37) | −114% | (688.53) | −36.8% |
| Total comprehensive income | (950.67) | (435.74) | −118% | (684.37) | −38.9% |
| Basic EPS | (5.53) | (3.38) | −63.6% | (4.05) | −36.5% |
- Profit after tax - YoY
- (440.37) (−114%)
- Period
- September 30, 2026 (Unaudited)
Also decided at the meeting
- Appointed Mr. Vikrant Kishore Gugnani (DIN: 01814337) as Additional Director (Executive, Non-Independent), Vice-Chairman w.e.f. November 16, 2026, subject to shareholder approval.
- Appointed Mr. Vikrant Kishore Gugnani as Vice-Chairman and Whole-Time Director for 3 years w.e.f. November 16, 2026 and fixed his remuneration, subject to shareholder approval.
- Appointed Mr. Ketankumar Shah as Fund Manager w.e.f. November 6, 2026; he ceases to be Principal Officer under SEBI (Portfolio Managers) Regulations.
- Appointed Mr. Hitesh Savanth as Principal Officer under SEBI (Portfolio Managers) Regulations w.e.f. November 6, 2026; he ceases to be Senior Fund Manager.
- Approved conducting a Postal Ballot to seek shareholder approval for the appointment of Mr. Vikrant Kishore Gugnani.
Auditor's review
Conclusion: Unmodified
Notes to the results
- NRC on August 05, 2026 approved grant of 66,200 stock options at exercise price of ₹ 303 per share under ESOP-2022; 156,640 equity shares allotted during the quarter on exercise of options.
- The Company does not have any subsidiary/associate/joint venture entity(ies) for the quarter ended September 30, 2026.
The Board of Directors met on November 05, 2026 and approved three sets of matters: the unaudited financial results, changes in directors and senior management, and a postal ballot to seek shareholders' approval for the director appointments.
New Vice-Chairman and Whole-Time Director
- Mr. Vikrant Kishore Gugnani has been appointed as an Additional Director in the category of Executive and Non-Independent Director, designated as the Vice-Chairman and Whole-Time Director, with effect from November 16, 2026, and he is not liable to retire by rotation.
- The appointment as Vice-Chairman and Whole-Time Director is for a period of 3 years, from November 16, 2026 to November 15, 2029, and his remuneration has been fixed.
- Both decisions are subject to the approval of the shareholders.
- The update describes him as a Chartered Accountant with close to 30 years of experience across banking, asset management and financial services, with senior leadership roles at Reliance Capital and Citibank India & Indonesia, and as the CEO of Reliance Capital Asset Management Limited.
- The company states that he is not related to any Director of the Company and is not debarred from holding the office of a Director by virtue of any SEBI order or any other such authority.
Fund Manager and Principal Officer
- Mr. Ketankumar Shah has been appointed as the Fund Manager under the SEBI (Mutual Funds) Regulations, 2026 with effect from November 6, 2026. He ceases to hold the position of Principal Officer under the SEBI (Portfolio Managers) Regulations, 2020 from the same date.
- Mr. Hitesh Savanth has been appointed as the Principal Officer under the SEBI (Portfolio Managers) Regulations, 2020 with effect from November 6, 2026. He ceases to hold the position of Senior Fund Manager under the SEBI (Mutual Funds) Regulations, 2026 from that date.
- The update describes Mr. Shah as having 17+ years in equity research and 15+ years of buy-side experience; Mr. Savanth as having 12+ years across portfolio management and wealth management.
Shareholder approval
- A postal ballot will be conducted for seeking the approval of the shareholders for the matters at serial no. 2(A) and 2(B) of the outcome, which cover the appointment of Mr. Gugnani as an Additional Director and as Vice-Chairman and Whole-Time Director.
Financial results and auditor's review
- The Board approved the unaudited financial results of the company for the quarter and half year ended September 30, 2026, prepared as per Regulation 33 of the SEBI LODR Regulations.
- M/s. G D Apte & Co., the Statutory Auditors, issued a Limited Review Report on those results. Their conclusion: based on the review, nothing has come to their attention that causes them to believe that the statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed, or that it contains any material misstatement.
- The report notes that a review is substantially less in scope than an audit and that the auditors do not express an audit opinion.
The meeting commenced at 06:00 p.m. and concluded at 07:35 p.m.
What it means for a retail investor
- The fund manager and principal officer changes take effect from November 6, 2026, so two key investment-facing roles are reshuffled almost immediately, with the new fund manager moving over from the principal officer role.
- The director appointment and the 3-year term begin from November 16, 2026, but the appointment and remuneration are subject to shareholders' approval through the postal ballot.
- The results carry a limited review conclusion from the statutory auditors that does not flag any matter causing them to believe the statement contains a material misstatement.
- The update does not state a stated reason for the senior management reallocation; the profiles given focus on the experience each person brings to the new role.
Also from Shriram Asset Management Company
Board approves Sept 2026 quarter results, appoints Vice-Chairman and two senior management personnel
5 Nov 2026
Nomination and Remuneration Committee approves grant of ~4.28 lakh stock options under ESOP 2022
30 Oct 2026
Board meeting on 5 November 2026 to consider unaudited results for quarter and half year ended September 30, 2026
29 Oct 2026
More numbers
- Term as Vice-Chairman and Whole-Time Director (from November 16, 2026)3 years
- Mr. Vikrant Kishore Gugnani's stated experienceclose to 30 years
- Mr. Ketankumar Shah's equity research experience17+ years
- Mr. Ketankumar Shah's buy-side experience15+ years
- Mr. Hitesh Savanth's experience12+ Years
- Total income, latest quarter296.86 (₹ In Lakhs)
- Total income, year-ago quarter297.28 (₹ In Lakhs)
- Total income, previous quarter404.46 (₹ In Lakhs)
- Total comprehensive income, latest quarter(950.67) (₹ In Lakhs)
- Total comprehensive income, year-ago quarter(435.74) (₹ In Lakhs)
- Total comprehensive income, previous quarter(684.37) (₹ In Lakhs)
- Profit after tax, latest quarter(941.69) (₹ In Lakhs)
- Profit after tax, year-ago quarter(440.37) (₹ In Lakhs)
- Profit after tax, previous quarter(688.53) (₹ In Lakhs)
- Profit before tax, latest quarter(941.12) (₹ In Lakhs)
- Profit before tax, year-ago quarter(440.37) (₹ In Lakhs)
- Profit before tax, previous quarter(682.84) (₹ In Lakhs)
Source: BSE · 5 Nov 2026
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