Board approves unaudited Q2 and H1 FY27 results; postal ballot for statutory auditor appointment
Board met on 14th October, 2026 (04.30 p.m.–7.10 p.m.) and approved unaudited results for the quarter and half year ended 30th September, 2026; auditors gave an unmodified opinion in their limited review.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 276.54 | 57.58 | +380% | 131.17 | +111% |
| Total income | 285.23 | 65.60 | +335% | 207.37 | +37.5% |
| Profit before tax | 201.78 | -10.09 | — | 152.91 | +32% |
| Profit after tax | 151.10 | (9.69) | — | 113.71 | +32.9% |
| Total comprehensive income | 151.10 | (9.69) | — | 113.71 | +32.9% |
| Basic EPS | 0.07 | (0.01) | — | 0.07 | 0% |
- Total Income YoY Growth
- Year ago 65.60 (+335%)
- Profit After Tax (Latest)
- 151.10 Lakhs; Year ago (9.69); Prev qtr 113.71 (+32.9%)
- Period
- Quarter Ended 30.09.2026
Also decided at the meeting
- Approved Notice of Postal Ballot seeking shareholders' approval to appoint M/s. DDS & Associates (FRN: 120362W) as Statutory Auditors to fill casual vacancy from resignation of M/s. Dharmendra K. Agarwal & Co.
Auditor's review
Conclusion: Unmodified
Notes to the results
- Preferential Allotment Committee allotted 8,85,00,000 warrants on 16th June, 2026, later converted into 8,85,00,000 equity shares on receipt of balance consideration of ₹18,58,50,000.
- Paid-up equity share capital increased to ₹23,10,00,000/- comprising 23,10,00,000 equity shares of Re. 1/- each.
- ₹42.37 lakhs of fees and commission income for quarter ended June 30, 2026 regrouped from Other Income to Fees and Commission Income; no impact on profit.
Board meeting outcome: two decisions
The Board of Directors met on Wednesday, 14th October, 2026, from 04.30 p.m. to 7.10 p.m. It considered and approved the unaudited financial results of the company for the quarter and half year ended 30th September, 2026, along with the statement of assets and liabilities and the cash flow statement. It also approved the notice of a postal ballot seeking shareholders' approval for the appointment of M/s. DDS & Associates, Chartered Accountants (FRN: 120362W) as Statutory Auditors of the company, to fill the casual vacancy arising from the resignation of M/s. Dharmendra K Agarwal & Co., Chartered Accountants (FRN: 025525C), and authorised the Company Secretary to conduct the postal ballot e-voting process.
Auditor's review conclusion
The results were reviewed by the Audit Committee and approved by the Board, and were subjected to a limited review by the statutory auditors, who expressed an unmodified opinion. The auditors stated that nothing has come to their attention that causes them to believe the statement has not disclosed the information required to be disclosed, or that it contains any material misstatement. A limited review offers moderate assurance and is not an audit, so no audit opinion is expressed.
Results at a glance (Rs. in lacs, except EPS)
- Total income: 285.23 for the quarter ended 30.09.2026 and 492.60 for the half year ended 30.09.2026
- Revenue from operations: 276.54 for the quarter and 407.71 for the half year
- Fees and commission income: 155.00 for the quarter and 197.37 for the half year
- Net profit for the period: 151.10 for the quarter and 264.81 for the half year
- Basic and diluted EPS (continuing operations): 0.07 for the quarter and 0.11 for the half year
- For comparison, the quarter ended 30.09.2025 showed a loss for the period of -9.69, and the half year ended 30.09.2025 a loss of -42.69
Balance sheet and cash flow (Rs. in lacs)
- Total assets: 5649.61 as at 30.09.2026 against 3365.35 as at 31.03.2026
- Loans: 5207.31 against 2943.16
- Borrowings (other than debt securities): 337.53 against 724.89
- Cash and cash equivalents: 142.90 against 43.67
- Net cash used in operating activities for the half year: (2109.37), against 90.78 in the half year ended 30.09.2025
- Net cash from financing activities for the half year: 2090.64, against (104.82)
Warrants and share capital (Note 4)
- 8,85,00,000 warrants were allotted on a preferential basis to 19 investors, who paid 25% of the issue price upfront
- On receipt of the balance 75% of the issue price, the Preferential Allotment Committee allotted 8,85,00,000 equity shares on conversion of the warrants, against aggregate balance consideration of ₹18,58,50,000
- Issued, subscribed and paid-up equity share capital stands at ₹23,10,00,000, comprising 23,10,00,000 fully paid-up equity shares of Re. 1/- each
One presentation change to note
An amount of ₹42.37 lakhs, representing fees and commission income, was classified under "Other Income" in the financial results for the quarter ended 30.06.2026. In the results for the quarter ended 30.09.2026, the corresponding figure for the quarter ended 30.06.2026 has been regrouped under the "Fees and Commission Income" head for appropriate presentation. The company states this regrouping is purely presentational and has no impact on the profit or loss of the company or its overall financial performance.
What this means in simple terms
The quarterly and half-yearly numbers are unaudited but have been reviewed by an independent chartered accountant firm, and that review carries no qualification. The company operates in a single segment, finance services. The larger loan book, and the conversion of warrants against which the company received aggregate balance consideration of ₹18,58,50,000, are the visible balance-sheet movements in this set of statements. The appointment of the new statutory auditor is being placed before shareholders through the postal ballot, and the Board has authorised the Company Secretary to run the e-voting process.
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More numbers
- Total income, half year ended 30.09.2026 (Rs. in lacs)492.60
- Net profit for the period, half year ended 30.09.2026 (Rs. in lacs)264.81
- Warrants allotted on preferential basis8,85,00,000
- Equity shares allotted on conversion of warrants8,85,00,000
- Aggregate balance consideration on conversion of warrants₹18,58,50,000
- Paid-up equity share capital after allotment₹23,10,00,000
- Total income, latest quarter285.23 (Rs. in Lacs)
- Total income, year-ago quarter65.60 (Rs. in Lacs)
- Total income, previous quarter207.37 (Rs. in Lacs)
- Total comprehensive income, latest quarter151.10 (Rs. in Lacs)
- Total comprehensive income, year-ago quarter(9.69) (Rs. in Lacs)
- Total comprehensive income, previous quarter113.71 (Rs. in Lacs)
- Profit after tax, latest quarter151.10 (Rs. in Lacs)
- Profit after tax, year-ago quarter(9.69) (Rs. in Lacs)
- Profit after tax, previous quarter113.71 (Rs. in Lacs)
- Revenue from operations, latest quarter276.54 (Rs. in Lacs)
- Revenue from operations, year-ago quarter57.58 (Rs. in Lacs)
- Revenue from operations, previous quarter131.17 (Rs. in Lacs)
- Profit before tax, latest quarter201.78 (Rs. in Lacs)
- Profit before tax, year-ago quarter-10.09 (Rs. in Lacs)
- Profit before tax, previous quarter152.91 (Rs. in Lacs)
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