ARIHANTS SECURITIES LTD.

Trades shares and derivatives on its own account. Per the latest segment data available (year ended 31 March 2020), 'Trading of shares and derivatives' is the only revenue-generating line, contributing Rs 0.1028 crore, with the other three reported segments — Loans, Trading of commodities and Others — at zero revenue. FY26 (per filings) total income was Rs 90.82 lakh, a decline from Rs 129.19 lakh in FY25, with profit after tax of Rs 23.26 lakh versus Rs 48.82 lakh the prior year; Q4 FY26 alone swung to a net loss of Rs 29.28 lakh, and the company booked an Other Comprehensive Income loss of Rs 159.34 lakh on write-down of share holdings. Income largely comes from other operating income (interest, dividend and similar receipts) rather than direct trading P&L — Q3 FY26 reported revenue from operations of just Rs 12.52 lakh against 'other operating income' of Rs 14.25 lakh. On the cost side, employee cost (76.8% of revenue) and other operating expenses (198.7% of revenue) dominate, with no material spend on materials, depreciation or capex.