BSE: 526871
INTEC CAPITAL LTD.
Operates as a non-banking financial company that historically lent to small and medium enterprises. Lending operations have largely ceased, and the FY26 standalone revenue of Rs. 2,488.97 lakhs is described in filings as generated mainly from recoveries from existing borrowers and other financial activity. During FY26, the company completed a One Time Settlement with all lender banks, repaying Rs. 124.38 lakhs as an exceptional item, which brought total borrowings down from Rs. 4,080.38 lakhs to Rs. 1,083.58 lakhs. It holds one wholly-owned subsidiary, Amulet Technologies Limited. The statutory auditor flagged a material uncertainty related to going concern, citing accumulated losses, cessation of lending, and substantial erosion of net worth; deferred tax assets of Rs. 1,825.95 lakhs remain unrecognised because future taxable income is uncertain. Management prepared the accounts on a going-concern basis citing continued promoter support. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Lending and recoveries, Other financial income, Subsidiary operations. BSE-listed NBFC; lending operations largely ceased, repayments via One Time Settlement
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 10 | 7 | 4 | 4 | 12 |
| EBITDA (ex other income) | 3 | (20) | (8) | 2 | 13 |
| margin % | 31.3 | (296.2) | (222.7) | 53.5 | 111.0 |
| Owners' profit | 0 | 0 | 0 | 0 | 7 |
| EPS, as reported (₹) | 1.24 | (15.33) | (3.08) | 0.24 | 3.76 |
| ROE % · ROCE % | 3.3 · — | (70.5) · — | (16.5) · — | 0.6 · — | 16.7 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 10 | 2 | 3 | 10 | 24 |
| Capex | (0) | (0) | (0) | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 3 | 6 | 1 | 2 | 3 | 1 |
| Profit before tax | (1) | (0) | 4 | 4 | (0) | 0 | 6 | (1) |
| Net profit | (1) | (1) | 3 | 3 | (1) | (0) | 5 | (1) |
| EPS (₹) | (0.49) | (0.36) | 3.38 | 1.62 | (0.33) | (0.21) | 2.68 | (0.52) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 5,70,768 | 28.1 | 4.88 | — | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 1,94,820 | 14.6 | 2.96 | — | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,31,798 | 22.8 | 4.33 | — | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,31,209 | 24.0 | 2.79 | — | 10.4 | — | — | 75.8 |
| MUTHOOT FINANCE LIMITED | 96,352 | 8.5 | 2.42 | — | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 50,202 | 22.1 | 3.19 | — | 13.8 | — | — | 33.1 |
| SUNDARAM FINANCE LTD | 43,766 | 19.6 | 2.94 | — | 13.8 | — | — | 78.4 |
| AUTHUM INVEST & INFRA LTD | 42,040 | 7.2 | 2.85 | — | 13.1 | — | — | 90.1 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.1 | 18.1 | 52 of 200 | 74% |
| P/B | 0.7 | 1.1 | 82 of 253 | 66% |
| ROE | 16.7 | 3.1 | 13 of 257 | 95% |
| EBITDA margin | (75.5) | 48.6 | 212 of 249 | 15% |
| Revenue growth | (90.2) | 12.6 | 215 of 231 | 7% |
| Profit growth | (132.1) | 7.8 | 200 of 251 | 20% |
| Market cap | 27 | 34 | 147 of 268 | 45% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 25 Oct 2026 · Special window for dematerialising eligible physical shares | compliance | minimal | — | — |
| 7 Oct 2026 · Routine compliance filing under SEBI Regulation 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 6 Oct 2026 · Intec Capital Postal Ballot Notice Published In Newspapers | compliance | minimal | — | — |
| 5 Oct 2026 · Postal Ballot for re-appointment of Independent Woman Director | board shareholder meetings | low | — | — |
| 1 Oct 2026 · Board approves Independent Director re-appointment, to seek shareholder nod via postal ballot | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · Trading Window Closed from Oct 1 for Q2 and H1 Results | compliance | minimal | — | — |
| 16 Sept 2026 · 32nd AGM: both resolutions passed with over 99.98% approval | compliance | minimal | — | — |
| 15 Sept 2026 · Intec Capital 32nd AGM held on Sept 15, 2026 | board shareholder meetings | low | — | — |
| 12 Sept 2026 · Corrigendum to Intec Capital FY26 Annual Report over director tenure | compliance | minimal | — | — |
| 11 Sept 2026 · Corrigendum to FY26 Annual Report over Director Tenure Expiry | general | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.