Unaudited standalone and consolidated results for quarter ended 30 June 2025 are attached herewith.
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Bazel International, a registered NBFC, reported standalone total revenue from operations of ₹104.32 lakh for Q1 FY26, up about 39% from ₹74.84 lakh in Q1 FY25, driven mainly by interest income of ₹102.51 lakh. Standalone net profit rose to ₹44.13 lakh (vs ₹33.34 lakh, ~32% growth), while EPS stood at ₹1.58 (vs ₹1.71). On a consolidated basis, the picture was weaker — net profit for the period was ₹34.69 lakh (vs ₹33.34 lakh, only ~4% growth), pulled down by subsidiary SR Industries Ltd (50.1% owned), which reported zero revenue and a net loss of ₹18.85 lakh. The board also noted the resignation of Company Secretary Ms. Preeti Bhatia effective 31 July 2025 due to personal reasons. Separately, the company issued a clarification correcting a prior disclosure error — paid-up equity share capital was wrongly reported as ₹33,791.16 lakh instead of the correct ₹278.60 lakh (which had inadvertently included partly paid-up warrant money).
Strong standalone earnings growth is positive, but the consolidated result was dragged by the loss-making subsidiary, muting per-share earnings (₹1.24 vs ₹1.58 standalone). The earlier overstatement of paid-up share capital by roughly 120x is a serious disclosure error that, even if unintentional, may dent investor confidence and draw regulatory scrutiny. Shareholders should watch for progress on the subsidiary and any further regulatory response.