Unaudited standalone and consolidated financial results for the Quarter ended 31st December 2025
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Mercantile Ventures reported its Q3 FY26 results with standalone total income of Rs 1,128.19 lakhs versus Rs 956.62 lakhs in Q3 FY25, and standalone net profit of Rs 49.39 lakhs versus Rs 35.66 lakhs last year. On a consolidated basis, total income rose to Rs 2,574.69 lakhs from Rs 1,996.66 lakhs, driven largely by the newly reported Security Services segment, but net profit fell sharply to Rs 80.29 lakhs from Rs 158.91 lakhs. The nine-month consolidated net profit dropped to Rs 339.22 lakhs from Rs 923.12 lakhs, and standalone nine-month results swung to a loss of Rs 13.44 lakhs mainly due to a Rs 2,051.52 lakh share of losses from an LLP. The statutory auditor issued a qualified conclusion in the consolidated review report because they could not assess the fair value of Rs 22 crore worth of redeemable cumulative preference shares held by subsidiary Walery Security Management Limited due to missing valuation reports.
Shareholders may view the quarter positively with revenue growth and a return to standalone profit, but the heavy year-to-date PAT erosion, large LLP loss drag, and the auditor qualification on a Rs 22 crore investment at a subsidiary introduce uncertainty around the true value of assets on the balance sheet.