Aryaman Capital Markets half-year profit rises to Rs 25.76 crore

Aryaman Capital Markets Limited reported net profit of Rs 25.76 crore for the six months ended September 30, 2026, compared with Rs 17.75 crore a year earlier, while total income rose to Rs 50.66 crore from Rs 37.59 crore. The board approved the unaudited standalone results on November 12, 2026.

How did Aryaman Capital Markets perform in the first half?

Aryaman Capital Markets increased half-year net profit to Rs 25.76 crore in the six months ended September 30, 2026, from Rs 17.75 crore in the corresponding period of 2025. Profit before tax rose to Rs 30.12 crore from Rs 24.34 crore, while total income increased by Rs 13.07 crore year on year.

Aryaman Capital Markets' income rose by about 35% from the prior-year half year, while net profit increased by about 45%, based on the reported figures. The company said it had regrouped or reclassified corresponding prior-period figures wherever necessary to make the periods comparable.

The September quarter accounted for Rs 17.93 crore of the half-year net profit, compared with Rs 6.72 crore in the quarter ended September 30, 2025. Quarterly profit before tax was Rs 20.88 crore in the September 2026 quarter, versus Rs 8.53 crore a year earlier.

What does the income and segment disclosure show?

Aryaman Capital Markets reported one operating segment, Other Financial Services, and did not provide a product-level or activity-level split of half-year revenue or profit. The Rs 50.66 crore total-income figure for the six months ended September 30, 2026 is therefore the principal disclosed measure of income across its business.

The filing does not identify a specific client category, transaction, product or investment as the reason for the increase from Rs 37.59 crore of total income in the prior-year period. It also reports no discontinued operations for the September 2026 half year, so the reported Rs 25.76 crore profit relates to continuing operations.

Profit before tax increased by Rs 5.78 crore, from Rs 24.34 crore to Rs 30.12 crore, which was a smaller absolute rise than the Rs 8.01 crore increase in net profit. The financial results provide tax-expense lines but do not include management commentary explaining the movement between pre-tax and post-tax profit.

How did Aryaman Capital Markets' balance sheet change since March?

Aryaman Capital Markets' total assets increased to Rs 128.95 crore as of September 30, 2026, from Rs 118.13 crore as of March 31, 2026. Investments rose to Rs 93.21 crore from Rs 82.47 crore, representing most of the Rs 10.81 crore increase in total assets over the six-month period.

Cash and cash equivalents rose by Rs 1.13 crore between March 31 and September 30, while other equity increased by Rs 11.16 crore to Rs 107.29 crore. Equity share capital was unchanged at Rs 11.98 crore at both reporting dates, meaning the increase in other equity occurred without a reported change in share capital.

Trade receivables stood at Rs 32.46 lakh on September 30, 2026, compared with Rs 22.06 lakh on March 31, 2026. Property, plant and equipment declined to Rs 1.42 crore from Rs 1.49 crore, while other non-financial assets increased to Rs 47.90 lakh from Rs 38.33 lakh.

On the liabilities side, current tax liabilities rose to Rs 3.68 crore from Rs 1.68 crore, while deferred tax liability declined to Rs 5.81 crore from Rs 6.94 crore. Trade payables to creditors other than micro and small enterprises were Rs 13 lakh at September 30, 2026, compared with Rs 1.07 crore at March 31, 2026.

Did Aryaman Capital Markets generate operating cash flow?

Aryaman Capital Markets generated net cash from operating activities of Rs 19.16 crore in the six months ended September 30, 2026, compared with Rs 7.19 crore in the corresponding 2025 period. Cash generated from operating activities before tax payments was Rs 20.21 crore, and taxes paid were Rs 1.05 crore.

Investing activities used Rs 18.03 crore in the September 2026 half year, compared with net investing cash generation of Rs 70.96 lakh in the prior-year period. The current-period investing outflow included Rs 18.47 crore related to purchase or sale of investments, partly offset by Rs 45.45 lakh of interest income.

Net cash increased by Rs 1.13 crore during the 2026 half year, taking closing cash and cash equivalents to Rs 26.23 crore from opening cash of Rs 25.10 crore. In the corresponding 2025 period, net cash increased by Rs 7.90 crore and closing cash and cash equivalents were Rs 27.79 crore.

The difference between the Rs 19.16 crore operating inflow and the Rs 18.03 crore investing outflow broadly explains the smaller increase in cash during the 2026 period. The balance-sheet increase in investments to Rs 93.21 crore from Rs 82.47 crore is consistent with the reported investing cash outflow, although the filing does not provide an investment-category breakdown.

Were Aryaman Capital Markets' results independently reviewed?

Aryaman Capital Markets' quarterly and half-year results for September 30, 2026 were subject to a limited review by V.N. Purohit & Co., Chartered Accountants. In its report dated November 12, 2026, the auditor said nothing had come to its attention that caused it to believe the statement did not disclose required information or contained a material misstatement.

The auditor stated that a limited review consists mainly of inquiries and analytical procedures and is substantially less extensive than an audit conducted under Standards on Auditing. It therefore did not express an audit opinion on the September 2026 results.

The audit committee reviewed the results on November 12, 2026, and the board approved them on the same date. The board meeting began at 12 noon and concluded at 2:10 pm, according to the company's filing with BSE Limited.

Conclusion

Aryaman Capital Markets reported higher income, pre-tax profit, net profit and operating cash generation for the six months ended September 30, 2026. Net profit rose to Rs 25.76 crore from Rs 17.75 crore, total income reached Rs 50.66 crore, and investments increased by Rs 10.74 crore from the March 31, 2026 balance-sheet level.

The filing does not disclose a profit target, business plan or scheduled subsequent financial event. The next disclosure to watch is whether Aryaman Capital Markets provides greater detail on its single Other Financial Services segment, the composition of its Rs 93.21 crore investment balance, and the cash-flow effect of any further investment activity.