BSE: 523343
MICROSE INDIA LTD.
Classified as a Non-Banking Financial Company (NBFC) and engaged in Futures & Options trading, the entity is listed on the BSE with its registered office at Nariman Point, Mumbai. Revenue from operations stood at Rs 136.27 lakhs in FY26, essentially flat versus Rs 136.42 lakhs in FY25. It reported a net loss of Rs 172.32 lakhs for FY26, reversing a profit of Rs 95.85 lakhs in the prior year, and for the nine months ended December 2025 revenue from operations was negative at Rs (100.07) lakhs with a loss after tax of Rs 158.73 lakhs. Reserves and surplus turned negative at Rs (71.34) lakhs and total assets fell sharply to Rs 152.97 lakhs from Rs 506.85 lakhs, driven mainly by a drop in trade receivables from Rs 424.27 lakhs to Rs 66.33 lakhs. The statutory auditor flagged an Emphasis of Matter noting the company used the non-NBFC financial results format instead of the NBFC format prescribed under SEBI regulations. Short-term borrowings stood at Rs 87.81 lakhs and cash was Rs 0.95 lakhs as of September 2025. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Futures & Options trading. Micro-cap, loss-making NBFC focused on derivatives trading with negative reserves
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 0 | (0) | 1 | (1) |
| EBITDA (ex other income) | 1 | (0) | (0) | 1 | (2) |
| margin % | 70.5 | — | 204.6 | 70.2 | 152.5 |
| Owners' profit | 1 | (0) | (0) | 1 | (2) |
| EPS, as reported (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| ROE % · ROCE % | 46.7 · 46.7 | (2.7) · (2.7) | (34.4) · (34.4) | 46.3 · 46.3 | (382.3) · (399.6) |
| Debt / equity (x) | 0.29 | 0.31 | 0.42 | 1.43 | 2.29 |
| Cash from operations | (0) | 0 | 0 | (2) | — |
| Capex | 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 | 0 | 0 | 0 | 1 | (1) | (0) | 0 | 0 |
| Profit before tax | (0) | (0) | (0) | 1 | (1) | (0) | (0) | (0) |
| Net profit | (0) | (0) | (0) | 1 | (1) | (0) | (0) | (0) |
| EPS (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
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 |
|---|---|---|---|---|
| ROCE | (399.6) | 2.0 | 59 of 59 | 0% |
| ROE | (382.3) | 3.1 | 257 of 257 | 0% |
| Debt / Equity | 2.3 | 0.0 | 50 of 53 | 6% |
| Revenue growth | (100.0) | 12.6 | 220 of 231 | 2% |
| Profit growth | (119.4) | 7.8 | 198 of 251 | 21% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Dheeraj Mishra appointed CFO effective 1 November 2026 | management changes | high | — | — |
| 23 Oct 2026 · Microse India appoints Dheeraj Mishra as new CFO from Nov 1, 2026 | management changes | medium | — | — |
| 23 Oct 2026 · Dheeraj Mishra appointed CFO effective 1 November 2026 | management changes | medium | — | — |
| 19 Oct 2026 · Microse India board to consider CFO appointment on Oct 23 | board shareholder meetings | low | — | — |
| 19 Oct 2026 · CFO Mr. Amit Mishra resigns from Microse India, effective Nov 1, 2026 | management changes | high | — | — |
| 19 Oct 2026 · CFO Amit Mishra resigns effective 1st November 2026 | management changes | high | — | — |
| 13 Oct 2026 · RTA confirms demat processing for July to September 2026 quarter | compliance | minimal | — | — |
| 29 Sept 2026 · Scrutinizer Report: Microse India 38th AGM resolutions passed unanimously | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Microse India 38th AGM proceedings held on September 29, 2026 | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Scrutinizer Report for Microse India's 38th AGM - All Resolutions Passed Unanimously | compliance | minimal | — | — |
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.