Please find the enclosed letter for the approval of Unaudited Standalone and consolidated financial results for the quarter ended June 30, 2025
ELCIDIN · price
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Elcid Investments, a non-banking financial company (NBFC) that operates purely as an investment company, reported its Q1 FY2026 results on August 8, 2025. As an investment company, its revenue mainly comes from net gains on fair value changes of its equity investments, and the quarter saw a significant turnaround, swinging from a large loss in Q1 FY2025 to a sizeable profit this quarter on both standalone and consolidated bases. Consolidated Total Comprehensive Income came in at roughly Rs. 29,300 lakhs for Q1 FY26 versus a deep loss of about Rs. 2,56,843 lakhs in the year-ago quarter, with the swing driven by mark-to-market gains on equity holdings. The statutory auditor, V.K. Beswal & Associates, issued an unqualified (clean) limited review report on both standalone and consolidated results. The Board also reconstituted the Audit Committee effective August 9, 2025, with Mr. Essaji Vahanvati as Chairman and Mr. Kartikeya Kaji and Mrs. Ragini Vakil as members.
The sharp swing from a large prior-year loss to a strong profit this quarter is driven by fair value movements on the company's investment portfolio and is therefore inherently volatile and not reflective of operating cash flows. Shareholders should view the headline numbers with caution, as future quarters could reverse sharply depending on market movements; the clean audit report and routine governance changes are neutral for the stock.