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Awaiting price reaction for this filing.
Sita Enterprises, a non-deposit taking NBFC focused on investment and financing, reported a sharp jump in earnings for Q2 FY26. Total revenue surged to Rs. 263.13 lakhs (from Rs. 31.49 lakhs in Q2 FY25), while net profit jumped to Rs. 217.74 lakhs (from Rs. 19.86 lakhs). For the half-year, revenue rose to Rs. 476.89 lakhs and net profit to Rs. 415.87 lakhs, with EPS of Rs. 13.86. The growth was driven mainly by higher net gains on fair value changes in investments. Statutory auditor Patel Shah & Joshi issued an unmodified (clean) review report. During the quarter, control of the company changed hands — 70% stake was transferred to new promoter Mr. Jitendra Rasiklal Sanghavi after RBI approval and an open offer. The company also sold its stake in associate Bombay Mercantile and Leasing Co. to existing directors (a related-party transaction) and saw a complete change in its board.
Strong headline growth looks impressive but is largely driven by mark-to-market gains on investments rather than core interest/dividend income, which remains small. Shareholders should note the change of control and related-party sale of the associate company shares to directors, which warrant a closer look at governance. Short-term stock may react positively to the earnings beat and new promoter entry.