Q1 FY27 Results: Profit grows, subsidiary Mefcom Securities to be sold to promoter
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Mefcom Capital Markets reported standalone Q1 FY27 profit of Rs 604.22 lakhs, up from Rs 490.68 lakhs a year ago. Consolidated profit rose to Rs 722.97 lakhs versus Rs 508.36 lakhs. Standalone revenue was Rs 4,579.47 lakhs and EPS stood at Rs 1.32. The Board also approved sale of its entire stake in subsidiary Mefcom Securities to promoter Vijay Mehta at Rs 8.58 per share for 29,99,800 shares.
Strong profit growth, especially on consolidated basis. Subsidiary sale to promoter is a related party deal and will simplify the group structure.