Unaudited Standalone and Consolidated financial results of the Company for the Quarter ended June 30, 2025
MERCANTILE · price
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Mercantile Ventures reported its Q1 FY26 (quarter ended 30 June 2025) standalone and consolidated results. On a standalone basis, total income rose to about Rs 1,021 lakhs from Rs 906 lakhs a year ago, driven by a sharp jump in other income (Rs 170 lakhs vs Rs 60 lakhs). Standalone profit after tax surged to roughly Rs 177 lakhs from Rs 28 lakhs in Q1 FY25, helped by a large deferred tax credit. On a consolidated basis, however, profit after tax fell sharply to around Rs 87 lakhs versus Rs 677 lakhs in the year-ago quarter, with the newly added 'Security Services' segment (Walery Security) showing thin revenues. The consolidated limited review report carries a qualification regarding Walery Security Management Ltd, a subsidiary that holds Rs 22 crore of redeemable cumulative preference shares with unpaid dividends since FY 2019-20 and no fair-value valuation report available. The board also appointed KRA & Associates as Secretarial Auditor for 5 years (subject to shareholder approval) and Ms. Ramya Ganapathy as Internal Auditor for FY 2025-26. The 24th AGM is scheduled for 25 September 2025.
Standalone earnings look strong, but the consolidated picture is weak and the auditor's qualification on a Rs 22 crore preference-share investment at a subsidiary raises a governance flag that investors should watch. The auditor changes are routine mid-year housekeeping but warrant attention if any red flags emerge in future filings.