Unaudited Standalone Financial Results for the quarter and half year ended September 30, 2025 along with Limited Review Report issued by M/S Jayantilal Thakkar & Co., Chartered Accountant.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mantra Capital, an RBI-registered NBFC, reported Q2 FY26 standalone revenue from operations of Rs. 342.38 lakhs versus Rs. 73.08 lakhs in Q2 FY25, a roughly 4.7x jump, while H1 FY26 revenue rose to Rs. 590.87 lakhs from Rs. 90.61 lakhs. However, the loss after tax widened to Rs. 320.55 lakhs in Q2 (vs Rs. 126.41 lakhs loss) and Rs. 576.09 lakhs for H1 FY26 (vs Rs. 285.55 lakhs). On the balance sheet, loans on the book surged to Rs. 66.23 crore from Rs. 26.15 crore, but borrowings ballooned nearly 9x to Rs. 44.91 crore, while other equity eroded to Rs. 2.18 crore from Rs. 7.97 crore due to accumulated losses. Operating cash flow was sharply negative at Rs. (46.47) crore for H1, largely because of Rs. 46 crore in fresh loans disbursed. Separately, the board approved raising up to Rs. 15 crore via Non-Convertible Debentures (listed or unlisted, secured or unsecured) to support growth. The limited review report from Jayantilal Thakkar & Co. is unqualified.
The stock shows strong top-line momentum and aggressive loan-book expansion, but persistent and widening losses, a sharp jump in borrowings, and a debt-to-equity ratio now around 1.3x raise concerns about profitability and leverage. For shareholders, the Rs. 15 crore NCD raise will further increase debt obligations, and near-term stock reaction is likely to be cautious until losses narrow.