The Investment Trust Of India530023Quarterly results
Q2/H1 FY26 results approved; Manager appointed; auditor notes subsidiary amalgamation scheme
Board meeting on Nov 4, 2026 approved unaudited standalone and consolidated results for Q2/H1 ended Sept 30, 2026.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 5,260.74 | 7,905.56 | −33.5% | 5,936.00 | −11.4% |
| Total income | 5,419.69 | 7,932.25 | −31.7% | 6,527.93 | −17% |
| Profit before tax | 194.15 | 803.10 | −75.8% | 1,480.42 | −86.9% |
| Profit after tax | 134.40 | 561.01 | −76% | 1,237.98 | −89.1% |
| Total comprehensive income | 148.27 | 556.60 | −73.4% | 1,251.87 | −88.2% |
| Basic EPS | 0.26 | 0.56 | −53.6% | 2.37 | −89% |
- Total income
- Latest 5,419.69; Year ago 7,932.25 (−31.7%); Prev qtr 6,527.93 (−17%)
- Profit after tax
- Latest 134.40; Year ago 561.01 (−76%); Prev qtr 1,237.98 (−89.1%)
- Period
- Quarter ended 30.09.2026
Also decided at the meeting
- Appointed Mr. Rashesh Praful Shah as Manager, Key Managerial Personnel and Senior Management Personnel w.e.f. 04th November, 2026, subject to shareholders' approval.
Auditor's review
Conclusion: Unmodified
- Emphasis of matter: Scheme of Arrangement for amalgamation of wholly owned subsidiaries ITIGL, ITIWML, ITIAFML and FMAL into the Company, appointed date April 1, 2026; effect to be given when approvals received.
- Other matter: eleven subsidiaries, three step-down subsidiaries and two associates reviewed by other auditors; conclusion not modified.
Notes to the results
- Scheme of Arrangement for amalgamation of ITI Gilts, ITI Wealth Management, ITI Alternate Funds Management and Fortune Management Advisors into the Company w.e.f. 1st April, 2026, subject to regulatory approvals.
- ITI Gold Loans Limited became an associate w.e.f. November 30, 2025; figures for quarters ended June 30, 2026 and September 30, 2026 are not comparable with previous periods.
What the board decided
The board of The Investment Trust of India met on Wednesday, November 4, 2026 and considered and approved the following:
- The unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, as recommended by the Audit Committee.
- The appointment of Mr. Rashesh Prafull Shah as Manager, Key Managerial Personnel (KMP) and Senior Management Personnel (SMP) of the company with effect from 4th November, 2026, subject to approval of the shareholders.
The standalone results in numbers (Rs. in Lakhs)
- Revenue from operations: 198.80 for the quarter and 972.03 for the half year.
- Total Income: 1,474.08 for the half year.
- Total Expenses: 1,578.70 for the half year.
- Profit/(Loss) after tax: (128.98) for the quarter and (108.59) for the half year; the same line stood at (19.57) for the half year ended September 30, 2025.
Figures in brackets are losses as printed, so the standalone Profit/(Loss) after tax line closed the half year in a loss, wider than the loss in the same half of the previous year. On the cash side, the standalone cash flow statement shows Net cash inflow from operating activities of 687.29 for the half year.
What the auditors said
- The statutory auditors, Ramesh M. Sheth & Associates, issued limited review reports on the standalone and on the consolidated results for the quarter and half year ended September 30, 2026.
- Their conclusion is that nothing has come to their attention that causes them to believe the statements have not disclosed the information required, including the manner in which it is to be disclosed, or that they contain any material misstatement.
- Both reports carry an Emphasis of Matter on the scheme of arrangement under which the wholly owned subsidiaries — ITI Gilts Limited, ITI Wealth Management Limited, ITI Alternate Funds Management Limited and Fortune Management Advisors Limited — are to be amalgamated into The Investment Trust of India Limited under Section 233 of the Companies Act, 2013.
- The appointed date of the scheme is April 1, 2026. The auditors note that the effect of the scheme will be given only when all approvals are received and the scheme becomes effective, and that their conclusion is not modified on this account.
How a retail reader can think about it
- An emphasis of matter is a pointer to something significant the reader should know about; here it is a pending group restructuring, and the auditor's review conclusion itself is unchanged.
- Because the scheme's appointed date is April 1, 2026 but its effect is given only once approvals come through, the reported numbers and the post-scheme numbers are not directly comparable until the scheme becomes effective.
- The cash flow statement and the Profit/(Loss) after tax line move in different directions at the half-year stage, so the loss line is best read together with the operating cash figure rather than in isolation.
- The board also settled a senior management appointment, with Mr. Shah taking charge as Manager, KMP and SMP from 4th November, 2026, subject to shareholder approval.
Overall, the update is a regular board outcome that combines a fresh set of results, a senior management appointment and an update on an ongoing amalgamation of subsidiaries into the listed company.
5,936.00 (₹ in Lakhs)Revenue from operations, quarter
Total income, latest quarter5,419.69 (₹ in Lakhs)
Profit before tax, latest quarter194.15 (₹ in Lakhs)
Total comprehensive income, latest quarter148.27 (₹ in Lakhs)
Profit after tax, latest quarter134.40 (₹ in Lakhs)
₹972.03 lakh
Q2 FY26₹198.80 lakhH1 FY26₹972.03 lakh
Also from The Investment Trust Of India
Rashesh Praful Shah appointed Manager, KMP and SMP; board also approves Q2 and H1 results
4 Nov 2026
Clarification: BSE portal text said CFO, but the resignation intimation was for the CEO
29 Oct 2026
Board meeting on 04 November 2026 to approve unaudited results for September quarter and half year
27 Oct 2026
More numbers
- Revenue from operations, Q2 FY26 (standalone, Rs. in Lakhs)198.80
- Revenue from operations, H1 FY26 (standalone, Rs. in Lakhs)972.03
- Total Income, H1 FY26 (standalone, Rs. in Lakhs)1,474.08
- Total Expenses, H1 FY26 (standalone, Rs. in Lakhs)1,578.70
- Profit/(Loss) after tax, Q2 FY26 (standalone, Rs. in Lakhs)(128.98)
- Profit/(Loss) after tax, H1 FY26 (standalone, Rs. in Lakhs)(108.59)
- Profit/(Loss) after tax, H1 FY25 (standalone, Rs. in Lakhs)(19.57)
- Net cash inflow from operating activities, H1 FY26 (standalone, Rs. in Lakhs)687.29
- Total income, latest quarter5,419.69 (₹ in Lakhs)
- Total income, year-ago quarter7,932.25 (₹ in Lakhs)
- Total income, previous quarter6,527.93 (₹ in Lakhs)
- Total comprehensive income, latest quarter148.27 (₹ in Lakhs)
- Total comprehensive income, year-ago quarter556.60 (₹ in Lakhs)
- Total comprehensive income, previous quarter1,251.87 (₹ in Lakhs)
- Profit after tax, latest quarter134.40 (₹ in Lakhs)
- Profit after tax, year-ago quarter561.01 (₹ in Lakhs)
- Profit after tax, previous quarter1,237.98 (₹ in Lakhs)
- Revenue from operations, latest quarter5,260.74 (₹ in Lakhs)
- Revenue from operations, year-ago quarter7,905.56 (₹ in Lakhs)
- Revenue from operations, previous quarter5,936.00 (₹ in Lakhs)
- Profit before tax, latest quarter194.15 (₹ in Lakhs)
- Profit before tax, year-ago quarter803.10 (₹ in Lakhs)
- Profit before tax, previous quarter1,480.42 (₹ in Lakhs)
Source: BSE · 4 Nov 2026
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