BSE: 514238
MKVENTURES CAPITAL LIMITED
Operates as a non-banking financial company (NBFC) classified as an investment company, generating revenue through three operating divisions: Loans and Investment, Consultancy, and Others. The Loans and Investment Division earns from lending activity and treasury investments, while the Consultancy Division earns advisory and professional service fees. FY26 total revenue stood at Rs 17.93 crore against total assets of Rs 115.03 crore, with net profit of Rs 10.61 crore and an EBITDA margin of 81.38%. Cost structure is dominated by employee expenses at 7.3% of revenue and other operating expenses at 17.3%, with no raw material costs given the financial-services nature of the business. The company maintains a strong capital adequacy ratio (CRAR) of 88.05% and declared an interim dividend of Rs 0.25 per equity share for FY26. A leadership transition took place in May 2026 with Mr. Ajay Shah (ex-EY Investment Banking partner) appointed as Managing Director and CEO, while Mr. Madhusudan Kela was re-designated to a Non-Executive Director role. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Loans and Investment Division, Consultancy Division, Others. Asset-light NBFC earning from lending, treasury investments and advisory fees.
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 27 | 39 | 25 | 18 |
| EBITDA (ex other income) | 26 | 36 | 14 | 14 |
| margin % | 94.1 | 92.8 | 56.5 | 75.5 |
| Owners' profit | 16 | 21 | 9 | 11 |
| EPS, as reported (₹) | 47.91 | 55.46 | 24.69 | 27.59 |
| ROE % · ROCE % | 51.4 · — | 22.6 · — | 9.2 · 13.4 | 9.4 · 12.6 |
| Debt / equity (x) | — | — | 0.00 | 0.00 |
| Cash from operations | (259) | 258 | 33 | 10 |
| Capex | 0 | (1) | (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 | 7 | 8 | 3 | 6 | 6 | 4 | 2 | 6 |
| Profit before tax | 6 | 7 | (7) | 6 | 5 | 2 | 1 | 2 |
| Net profit | 4 | 5 | (5) | 4 | 4 | 2 | 0 | 1 |
| EPS (₹) | 11.04 | 14.01 | 13.80 | 11.16 | 9.14 | 6.07 | 1.23 | 2.32 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Loans and Investment Division | 5 | 25.5 |
| Consultancy Divison | 1 | 4.7 |
| Others | 1 | 2.7 |
| Loans and investment division | 2 | 10.1 |
| Consultancy Division | 9 | 47.5 |
| Loans & Investment Division | 2 | 9.4 |
| others | 0 | 0.1 |
| Total, before eliminations | 19 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| JIO FIN SERVICES LTD | 1,36,843 | 64.4 | 1.02 | — | 1.2 | — | — | 70.7 |
| ADITYA BIRLA CAPITAL LTD. | 96,668 | 22.6 | 2.63 | — | 10.5 | — | 18.8 | 40.8 |
| L&T FINANCE LIMITED | 60,306 | 18.9 | 2.15 | — | 10.6 | — | 5.5 | 62.3 |
| TATA INVESTMENT CORP LTD | 28,220 | 65.5 | 0.97 | — | 1.5 | — | 19.5 | 92.6 |
| CHOLAMANDALAM FIN HOL LTD | 23,640 | 8.9 | 0.70 | — | 16.2 | — | 23.0 | 58.4 |
| TVS HOLDINGS LIMITED | 23,316 | 11.8 | 1.81 | — | 26.3 | — | 23.4 | 16.4 |
| MAHARASHTRA SCOOTERS LTD | 13,373 | 48.0 | 0.48 | — | 1.1 | — | — | 84.1 |
| JSW HOLDINGS LIMITED | 12,433 | 90.5 | 0.38 | — | 0.4 | — | 14.1 | 84.0 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 51.5 | 20.6 | 39 of 51 | 24% |
| P/B | 3.3 | 0.6 | 58 of 63 | 8% |
| ROCE | 11.6 | 0.4 | 3 of 28 | 93% |
| ROE | 9.3 | 1.3 | 11 of 65 | 84% |
| Debt / Equity | 0.0 | 0.0 | 1 of 27 | 39% |
| EBITDA margin | 35.9 | 61.6 | 39 of 62 | 38% |
| Revenue growth | 3.0 | 13.6 | 33 of 56 | 42% |
| Profit growth | (79.2) | 10.7 | 54 of 66 | 19% |
| Market cap | 372 | 283 | 31 of 68 | 55% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 14 Oct 2026 · Routine quarterly compliance certificate on dematerialisation of securities for Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · AGM voting results: 3 resolutions passed, all with over 97 percent approval | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Independent Director Ms. Shruti Mimani resigns with immediate effect | management changes | medium | — | — |
| 29 Sept 2026 · MKVentures Capital 35th AGM held; FY26 financials shared, resolutions passed | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Independent Director Shruti Mimani resigns after relatives buy 4 percent stake | management changes | medium | — | — |
| 28 Sept 2026 · Independent Director Shruti Mimani resigns after relatives acquire 4 percent stake | management changes | medium | — | — |
| 28 Sept 2026 · Independent Director resigns after relatives acquire 4 percent stake | management changes | medium | — | — |
| 28 Sept 2026 · Intimation regarding resignation of Independent Director Mrs Shruti Mimani | management changes | medium | — | — |
| 28 Sept 2026 · Intimation regarding resignation of Independent Director Mrs Shruti Mimani | management 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.