BSE: 539692
INTERACTIVE FINANCIAL SERVICES
A SEBI-registered NBFC and merchant banker based in Ahmedabad, operating in capital markets. It earns from merchant banking work such as handling IPO due diligence — for instance, it acted as Merchant Banker for the SME IPO of Rachana Infrastructure Limited — and from NBFC and investment activities, including investing in equity and debt markets. In FY26, revenue from operations was Rs 737.07 lakh, marginally lower than Rs 740.81 lakh in FY25, while profit after tax rose about 22.5% to Rs 349.45 lakh. Total assets stood at Rs 34.10 crore. The largest operating cost is employee expense at Rs 1.907 crore, or 25.9% of revenue, followed by other opex at Rs 1.386 crore (18.8%). The company raised Rs 1,175.11 lakh via a Rights Issue in January-February 2025; Rs 900 lakh was deployed toward increasing networth, Rs 250 lakh for general corporate purposes, and Rs 10.68 lakh for issue expenses, with Rs 14.43 lakh unutilized. A planned property purchase (the 3rd Eye Vision project) was cancelled and those funds reallocated to networth after shareholder approval in September 2025. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Merchant banking, NBFC and investment activities, Investments in equity and debt markets. Small-capital NBFC and merchant banker operating in Indian capital markets
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 2 | 3 | 7 | 7 |
| EBITDA (ex other income) | (0) | 0 | 1 | 3 | 4 |
| margin % | (23.8) | 20.8 | 38.4 | 40.1 | 53.5 |
| Owners' profit | 1 | 1 | 1 | 3 | 3 |
| EPS, as reported (₹) | 3.32 | 3.99 | 2.02 | 6.77 | 5.04 |
| ROE % · ROCE % | 12.7 · 15.3 | 13.9 · 18.0 | 4.9 · 12.7 | 10.2 · 14.4 | 11.0 · 15.3 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.02 | 0.03 |
| Cash from operations | 0 | 0 | 0 | (1) | 2 |
| Capex | 0 | (0) | (0) | (0) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3 | 2 | 1 | 1 | 1 | 2 | 2 | 3 |
| Profit before tax | 3 | 1 | 1 | (1) | 1 | 2 | 1 | 2 |
| Net profit | 2 | 1 | 0 | (0) | 1 | 1 | 0 | 1 |
| EPS (₹) | 6.67 | 2.89 | 1.15 | 0.92 | 0.87 | 1.60 | 0.65 | 1.92 |
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. % |
|---|---|---|---|---|---|---|---|---|
| GRETEX CORPORATE SERVICES | 1,816 | 48.7 | 5.70 | 42.1 | 8.8 | 12.2 | — | 47.1 |
| QUEST CAPITAL MARKETS LIMITED | 220 | 13.3 | 0.46 | — | 3.3 | — | — | 57.0 |
| 21ST CENTURY MGMT SERVICE | 55 | — | 1.67 | — | (72.7) | (72.2) | — | 94.6 |
| MEFCOM CAPITAL MARKETS LTD. | 51 | 24.8 | 2.81 | — | (12.3) | (5.9) | — | 15.1 |
| INTERACTIVE FINANCIAL SERVICES ◆ | 8 | 2.2 | 0.24 | — | 11.0 | 15.1 | — | 66.5 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 2.2 | 19.6 | 1 of 58 | 100% |
| P/B | 0.2 | 2.8 | 1 of 65 | 100% |
| ROCE | 15.1 | 16.0 | 18 of 33 | 47% |
| ROE | 11.0 | 11.4 | 34 of 65 | 48% |
| Debt / Equity | 0.0 | 0.0 | 19 of 30 | 38% |
| EBITDA margin | 66.5 | 45.7 | 17 of 64 | 75% |
| Revenue growth | 234.7 | 23.1 | 1 of 58 | 100% |
| Profit growth | 445.5 | 17.6 | 3 of 61 | 97% |
| Market cap | 8 | 940 | 69 of 69 | 0% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Letter of Offer filed for Rs 58.91 crore rights issue | corporate actions | high | — | — |
| 23 Oct 2026 · Rights Issue record date fixed for October 30, 2026 | corporate actions | medium | — | — |
| 23 Oct 2026 · Board approves Rs 58.91 crore rights issue at Rs 10 per share | corporate actions | medium | — | — |
| 19 Oct 2026 · Board meeting on Oct 23 to finalise Rights Issue price and record date | corporate actions | medium | — | — |
| 14 Oct 2026 · Routine RTA certificate for Q2 FY27 dematerialisation compliance | compliance | minimal | — | — |
| 30 Sept 2026 · AGM 2026: All 4 resolutions passed with about 97% approval | compliance | minimal | — | — |
| 30 Sept 2026 · Trading Window closed until November 17 for Right Issue and Q2 results | compliance | minimal | — | — |
| 29 Sept 2026 · Proceedings of 32nd AGM held on September 29, 2026 | board shareholder meetings | medium | — | — |
| 14 Sept 2026 · Board approves Draft Letter of Offer for Rights Issue | corporate actions | high | — | — |
| 11 Sept 2026 · Board approves Rights Issue to raise up to Rs 62 crore | board shareholder meetings | medium | — | — |
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.