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Kalyan Capitals Ltd (formerly Akashdeep Metal Industries), an NBFC, announced its Q2 FY26 results along with the appointment of Mr. Anshu Agarwal as CFO (now designated CEO cum CFO) with immediate effect, replacing Mr. Abhijeet. On a standalone basis, total revenue from operations grew ~33% YoY to Rs 1,204 lakhs for H1 FY26, led by the Corporate Loan Division with new forays into Gold Loan and Retail divisions. However, standalone profit after tax for H1 FY26 declined to Rs 66.55 lakhs from Rs 76.45 lakhs, with Q2 PAT nearly halving to Rs 15.41 lakhs from Rs 31.19 lakhs YoY. On a consolidated basis (including subsidiary Anmol Financial Services), PAT grew ~17% YoY to Rs 378.53 lakhs for H1 FY26 on revenue of Rs 1,740 lakhs. The statutory auditor T.K. Gupta & Associates issued a clean limited review report with no qualifications.
Mixed signals for shareholders - revenue growth is healthy and business expansion into gold loans is positive, but standalone profitability has weakened with sharp Q2 PAT decline and finance costs rising faster than income. Investors should watch whether the new Gold Loan and Retail divisions can sustain margins given the sharp rise in finance costs (~37% YoY in H1 standalone).