Outcome of Board Meeting held on 29th January 2026
SHARDUL · price
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Shardul Securities, a Base Layer NBFC, approved its unaudited standalone and consolidated financial results for Q3 FY26 and nine months ended December 31, 2025, along with the auditor's limited review report. On a standalone basis, the company posted a loss after tax of Rs. 2,184.04 lakhs in Q3 FY26 (vs loss of Rs. 3,336.22 lakhs in Q3 FY25), driven mainly by net losses on fair value changes of Rs. 2,083.73 lakhs, wiping out operating income. For nine months FY26, standalone profit after tax plunged to just Rs. 104.03 lakhs from Rs. 8,639.86 lakhs a year ago. On a consolidated basis (including broking subsidiary Shriyam Broking and Shriyam Realtors), Q3 FY26 loss after tax was Rs. 1,726.44 lakhs, while nine-month FY26 PAT dropped sharply to Rs. 1,460.61 lakhs from Rs. 10,268.69 lakhs in the prior year. EPS for the quarter was Rs. (2.50) standalone and Rs. (1.97) consolidated. The auditor (Akkad Mehta & Co LLP) issued an unqualified limited review report on both sets of results. The Board also noted the end of Independent Director Mr. Devesh Vasavada's tenure effective February 4, 2026.
Heavy mark-to-market losses on investments turned what would have been a small operating profit into a significant quarterly loss, and nine-month earnings collapsed versus last year — this is a negative signal for shareholders, though the underlying NBFC business and subsidiaries remain operational and the auditor raised no concerns.