BSE: 506161
ISHWARSHAKTI HOLDINGS & TRADER
Registered as a Non-Banking Financial Company (NBFC) and listed on BSE, the entity operates with very small revenue from operations — Rs 6.65 lakh in FY26, down from Rs 164.71 lakh in FY25. The decline came from a reversal of interest income after a default in interest servicing, indicating that its earlier operating revenue was largely interest on loans or advances. The balance sheet is dominated by non-current investments of Rs 429.39 lakh, held primarily in two associate companies — Seksaria Industries Pvt Ltd and Seksaria Confectionaries Pvt Ltd — revalued under a NAV-based methodology adopted in Q4 FY26. Net worth stood at roughly Rs 39 crore as of March 31, 2026, against paid-up equity capital of just Rs 44.4 lakh, and the company reported zero outstanding borrowing on the same date. The firm posted a net loss of Rs 31.29 lakh for FY26, but total comprehensive income came in positive at Rs 348.63 lakh thanks to a Rs 351.76 lakh revaluation gain booked through Other Comprehensive Income on the associate investments. Operating costs are modest in absolute terms — employee costs were 15.9% of revenue and other operating expenses 17.0% — and there is no material depreciation or capex disclosed. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. NBFC operations (interest income), Fair-value movements on associate investments. Small NBFC functioning primarily as an investment-holding vehicle, with negligible operating revenue and balance-sheet value concentrated in two associate companies.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3 | 1 | 2 | 2 | 1 |
| EBITDA (ex other income) | 0 | (0) | 0 | (0) | (0) |
| margin % | 2.0 | (10.6) | 14.5 | (16.3) | (56.4) |
| Owners' profit | 0 | (0) | 0 | (0) | (0) |
| EPS, as reported (₹) | 0.23 | (0.85) | 2.11 | (1.19) | (2.17) |
| ROE % · ROCE % | 6.2 · — | (11.9) · — | 23.3 · — | (7.3) · — | (0.8) · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (0) | (0) | 0 | (0) | (0) |
| 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 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | (0) | (0) | 0 | 1 | (0) | (1) |
| Net profit | 0 | 0 | (0) | (0) | 0 | 0 | (0) | (1) |
| EPS (₹) | 0.37 | 0.44 | (0.72) | (1.30) | 0.88 | 3.18 | (0.98) | (5.25) |
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 | 5,67,346 | 27.9 | 4.85 | — | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 1,93,785 | 14.5 | 2.94 | — | 15.2 | — | 22.5 | 74.7 |
| TATA CAPITAL LIMITED | 1,28,620 | 23.5 | 2.73 | — | 10.4 | — | — | 75.8 |
| CHOLAMANDALAM IN & FIN CO | 1,25,298 | 21.7 | 4.11 | — | 17.2 | — | 26.5 | 71.2 |
| MUTHOOT FINANCE LIMITED | 96,653 | 8.5 | 2.43 | — | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 50,250 | 22.1 | 3.20 | — | 13.8 | — | — | 33.1 |
| SUNDARAM FINANCE LTD | 42,997 | 19.2 | 2.89 | — | 13.8 | — | — | 78.4 |
| PIRAMAL FINANCE LIMITED | 42,166 | 24.9 | 1.50 | — | 5.3 | — | — | 63.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.1 | 1.1 | 4 of 253 | 98% |
| ROE | (0.8) | 3.1 | 211 of 257 | 18% |
| EBITDA margin | (448.5) | 48.6 | 236 of 249 | 5% |
| Revenue growth | (42.9) | 12.6 | 187 of 231 | 19% |
| Profit growth | (302.7) | 7.8 | 227 of 251 | 10% |
| Market cap | 2 | 33 | 263 of 268 | 2% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board to approve quarterly and half-year results on November 4, 2026 | results | low | — | — |
| 8 Oct 2026 · Quarterly compliance certificate - no dematerialisation requests received | compliance | minimal | — | — |
| 30 Sept 2026 · Ishwarshakti Holdings 43rd AGM: All 4 resolutions passed unanimously | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 43rd AGM results: all 4 resolutions passed with 100% approval | compliance | low | — | — |
| 30 Sept 2026 · 43rd AGM held; 4 resolutions passed including capital hike and director change | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed ahead of Q2 FY26 results | compliance | minimal | — | — |
| 25 Sept 2026 · Promoters reshuffle shares via inter-se transfer among family entities | ownership changes | medium | — | — |
| 25 Sept 2026 · Inter-se transfer among promoters; three acquirers approach 25 percent | ownership changes | medium | — | — |
| 25 Sept 2026 · Inter-se transfer of promoter shares via gifts and HUF dissolution | ownership changes | medium | — | — |
| 18 Sept 2026 · Inter-se share transfers among promoters; aggregate holding unchanged | ownership changes | 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.