1. Un-audited Financial Results (Standalone and Consolidated) for the Quarter and half year ended 30th September, 2025. (Enclosed as Annexure). 2. Limited Review Report (Standalone and ....
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B.N. Rathi Securities, a Hyderabad-based stock broking firm, reported weaker Q2 FY26 results. Standalone total income fell to Rs. 1,469.80 lakhs (vs Rs. 1,699.20 lakhs in Q2 FY25, down ~13.5%), and standalone profit after tax dropped to Rs. 262.58 lakhs (vs Rs. 381.49 lakhs, a ~31% YoY decline). For the half-year (H1 FY26), standalone PAT fell ~40% YoY to Rs. 423.35 lakhs on total income of Rs. 2,804.16 lakhs. Consolidated Q2 PAT was Rs. 234.36 lakhs, down ~41% YoY. The brokerage business saw revenue compression across both equity broking and other operating income lines, while employee and other expenses remained relatively sticky. Statutory auditor M. Anandam & Co. issued an unmodified limited review report for both standalone and consolidated results. The Board also approved the allotment of 2,50,000 equity shares (Rs. 5 face value) at Rs. 10 per share to employees under the BNRSL ESOP Scheme 2022, raising Rs. 25 lakh and increasing total issued shares to 4,17,50,000.
Sharply lower brokerage income and profits reflect weak trading volumes during the period, which is likely to weigh on the stock. The ESOP allotment is a minor dilution (~0.6% of share capital) and not material for shareholders. The clean auditor review report is a positive, but the negative operating cash flow (Rs. 3,350.77 lakhs used in operations) for the half-year is a red flag worth monitoring.