BSE: 509084
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. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Single segment (unnamed) (100%). Small, lumpy-revenue, investment-driven entity with negligible material input costs
Exhibit 1: Financial summary, FY21–FY25 (all audited; no estimate years)
| ₹ crore · consolidated | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| EBITDA (ex other income) | (0) | (0) | (1) | (0) | (1) |
| margin % | (5.2) | (22.9) | — | (119.6) | — |
| Owners' profit | (0) | 2 | 0 | 0 | (1) |
| EPS, as reported (₹) | (0.94) | 12.54 | (2.46) | (13.08) | (4.54) |
| ROE % · ROCE % | (1.3) · — | 17.9 · — | (3.6) · (3.1) | (24.0) · (4.0) | (9.1) · (5.8) |
| Debt / equity (x) | — | — | 0.00 | 0.00 | 0.00 |
| Cash from operations | 0 | (0) | (1) | 0 | (1) |
| Capex | 0 | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | (0) | (0) | 0 | (0) | (0) | (0) | (0) | (0) |
| Net profit | (2) | (0) | 0 | (0) | (0) | (0) | 0 | 0 |
| EPS (₹) | (13.48) | (0.93) | 1.26 | (2.43) | (2.43) | (0.18) | 1.43 | 1.46 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 13 Oct 2026 · Submission of Regulation 74(5) certificate for Q2 FY27 | compliance | minimal | — | — |
| 29 Sept 2026 · Photon Capital Advisors appoints Mr. Rama Kiran Kumar Varma Pothuri as CFO | management changes | high | — | — |
| 29 Sept 2026 · Appointment of new CFO Mr. Rama Kiran Kumar Varma Pothuri | management changes | medium | — | — |
| 29 Sept 2026 · Trading window closed from Oct 1 for Q2 results | compliance | minimal | — | — |
| 21 Sept 2026 · 41st AGM held; results awaited via e-voting and poll | board shareholder meetings | low | — | — |
| 8 Aug 2026 · Q1 FY27 results, name change to Inference Platforms and ESOS approved | results | medium | — | — |
| 8 Aug 2026 · Q1 FY27 profit at Rs 16.11L; name change to Inference Platforms approved | management changes | medium | — | — |
| 8 Aug 2026 · Board clears Q1 results, name change to Inference Platforms, Rs.500 cr borrowing limit | results | medium | — | — |
| 8 Jul 2026 · Routine compliance certificate for Q1 FY27 under SEBI Reg 74(5) | compliance | minimal | — | — |
| 1 Jul 2026 · Photon Capital Advisors files FY26 audited results, swings to profit | results | high | — | — |
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.