PHOTON CAPITAL ADVISORS LTD.

Operates as a small BSE-listed entity whose FY26 revenue of Rs 1.44 crore came entirely from a single, unnamed segment. Income in FY26 was driven by a Rs 144 lakh gain on the sale of investments, while prior quarters in FY25 and the first three quarters of FY26 generated only Rs 0.05–0.25 crore each, indicating revenue is lumpy rather than recurring. During FY26 the company raised about Rs 19.6 crore via shares and warrants and placed the proceeds into fixed deposits and corporate loans, lifting total assets to Rs 27.80 crore. The cost base carries no material input cost; employee expenses are the largest line at 26.6% of revenue, followed by other operating expenses at 16.2% and depreciation at 1.8%. In June 2026 the entity underwent a complete change of control after acquirer Sreeram Reddy Vanga completed an open offer, taking 54.47% of equity and reconstituting the board.