BSE: 504340
Longspur International Venture
Operates as a BSE-listed financial services entity with a substantial loan book and a recently approved pivot into solar energy. As of FY26, non-current loans stood at ₹3,47,327 lakhs against total assets of ₹4,10,153 lakhs, indicating that lending is the principal activity generating revenue. FY26 revenue from operations surged to ₹41,286 lakhs from ₹939.89 lakhs in FY25, though profit after tax eased to ₹52.91 lakhs from ₹60.48 lakhs, leaving an EBITDA margin of 27.3%. The cost mix of 0% materials, 6.6% employees, 23.5% other operating expenses and 7.5% depreciation fits a services-led financial profile rather than a manufacturing one. In April 2026 shareholders approved a change in the main object clause to add solar energy activities, covering manufacturing, supply, installation and maintenance of off-grid DC solar photovoltaic water pumping systems and broader renewable energy projects. The company is funding this transition through a preferential issue of up to 2,03,50,000 equity shares of ₹10 each, equivalent to about ₹20.35 crore, with phased allotments already completed in June 2026. Q1 FY27 (quarter ended 30 June 2026) reported revenue from operations of ₹75 lacs and a profit of ₹15.68 lacs, versus a loss of ₹9.37 lacs a year earlier. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Lending and financial services, Solar energy (planned). Financial services company (NBFC-style lending) with large loan book, pivoting to off-grid solar PV water pumping and renewable energy
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 9 | 15 | 5 | 9 | 4 |
| EBITDA (ex other income) | 0 | 0 | 1 | 1 | 1 |
| margin % | 0.6 | 1.7 | 16.9 | 11.5 | 27.2 |
| Owners' profit | 0 | 0 | 0 | 1 | 1 |
| EPS, as reported (₹) | 0.02 | 0.07 | 0.33 | 0.44 | 0.39 |
| ROE % · ROCE % | 0.1 · 0.2 | 0.3 · 0.8 | 1.6 · 2.7 | 2.0 · 3.3 | 1.8 · 2.1 |
| Debt / equity (x) | 0.00 | 0.02 | 0.00 | 0.10 | 0.33 |
| Cash from operations | (1) | 0 | (1) | (2) | (6) |
| Capex | (0) | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 7 | 2 | 1 | 1 | 1 | 1 |
| Profit before tax | (0) | 0 | 0 | 0 | 0 | 0 | 0 | (0) |
| Net profit | (0) | 0 | 0 | 0 | 0 | 0 | 0 | (0) |
| EPS (₹) | (0.26) | 0.11 | 0.01 | 0.15 | 0.14 | 0.24 | 0.02 | (0.22) |
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. % |
|---|---|---|---|---|---|---|---|---|
| CRISIL LTD | 33,999 | 38.5 | 10.39 | — | 13.7 | 16.1 | — | 30.6 |
| ONEMI TECHNOLOGY SOL LTD | 5,509 | 19.5 | 4.10 | 9.4 | 21.0 | 18.8 | — | 32.0 |
| GYFTR LIMITED | 1,234 | — | 2.54 | 37.9 | 4.5 | 5.3 | 32.8 | 4.3 |
| CENTRUM CAPITAL LIMITED | 969 | — | 0.74 | 9.7 | (21.4) | (2.5) | 49.7 | 29.7 |
| PRIME SECURITIES LIMITED | 968 | 172.9 | 3.78 | — | 5.1 | — | 25.7 | 19.0 |
| WEALTH FRST PORT. MG. LTD | 881 | 26.7 | 5.18 | 16.9 | 22.5 | 30.3 | — | 97.5 |
| REGENCY FINCORP LIMITED | 571 | 52.3 | 3.56 | — | 8.4 | — | — | 84.3 |
| STELLANT SECURITIES (INDIA) LT | 529 | — | 1687.57 | — | 18.2 | 18.2 | — | 56.7 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 41.1 | 19.0 | 54 of 76 | 29% |
| P/B | 0.3 | 1.0 | 22 of 105 | 80% |
| ROCE | 1.9 | 1.8 | 39 of 83 | 54% |
| ROE | 1.8 | 1.3 | 47 of 111 | 58% |
| Debt / Equity | 0.3 | 0.0 | 60 of 77 | 22% |
| EBITDA margin | (3.0) | 25.6 | 71 of 91 | 22% |
| Revenue growth | (4.1) | (4.1) | 44 of 85 | 49% |
| Profit growth | (239.7) | (0.2) | 97 of 109 | 11% |
| Market cap | 10 | 26 | 88 of 113 | 22% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board to approve September 2026 half-year results on November 5 | results | low | — | — |
| 14 Oct 2026 · BSE lists 17.25 lakh new shares from preferential allotment | capital market events | medium | — | — |
| 12 Oct 2026 · Compliance certificate for Q2 FY26 under SEBI DP Regulations | compliance | minimal | — | — |
| 1 Oct 2026 · 46th AGM outcome: financials adopted, director reappointed | board shareholder meetings | low | — | — |
| 1 Oct 2026 · 46th AGM voting results: both resolutions passed with 99.99 percent majority | compliance | minimal | — | — |
| 30 Sept 2026 · Trading window closed ahead of Q2 financial results | compliance | minimal | — | — |
| 30 Sept 2026 · 46th AGM proceedings held on Sep 30, 2026; results awaited | board shareholder meetings | low | — | — |
| 16 Sept 2026 · Newspaper clippings filed for 46th AGM, e-voting and book closure notice | compliance | minimal | — | — |
| 8 Sept 2026 · Annual Report FY26 filed; income drops to Rs 413.38 Lakhs, PAT lower | results | high | — | — |
| 8 Sept 2026 · Notice of 46th AGM to be held on 30 September 2026 | board shareholder meetings | 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.