Please find enclosed herewith unaudited financial results along-with Limited Review Report of Ashika Credit Capital Limited for the quarter and nine-months ended 31st December, 2025.
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Ashika Credit Capital Ltd reported a strong turnaround in 9M FY26, with standalone total revenue from operations more than doubling to ₹9,747.84 lakhs (vs ₹4,548.49 lakhs in 9M FY25), driven largely by net gains on fair value changes of ₹7,899.76 lakhs and higher interest income of ₹1,693.03 lakhs. Standalone profit after tax for 9M FY26 surged to ₹6,558.26 lakhs (vs ₹1,951.51 lakhs), while Q3 FY26 standalone PAT was a modest ₹12.20 lakhs (vs a loss of ₹1,941.06 lakhs in Q3 FY25). Consolidated 9M FY26 PAT stood at ₹6,440.74 lakhs (vs loss of ₹2,995.14 lakhs for FY25). Comparative figures have been restated to reflect the merger with Yaduka Financial Services Limited, which became effective on 18 November 2025 with a share allotment of 65,34,507 equity shares on 1 December 2025. The group has also been reclassified from NBFC Base Layer to NBFC Middle Layer as group assets crossed the ₹1,000 crore threshold, and three new wholly-owned subsidiaries were incorporated in December 2025.
The sharp rise in profitability is encouraging but is heavily reliant on fair value gains, which are market-dependent and may not recur, so investors should view this with caution. Shareholders face dilution from the Yaduka merger and ongoing warrant conversions, while the upgrade to Middle Layer NBFC status brings stricter regulatory and compliance requirements that could affect future operating flexibility.