Fundviser Capital reports Rs 6.24 crore half-year profit

Fundviser Capital (India) Limited reported unaudited consolidated net profit of Rs 6.24 crore for the half year ended September 30, 2026, compared with Rs 53.37 lakh a year earlier, as total revenue rose to Rs 82.76 crore from Rs 61.54 crore. The Audit Committee and board approved the results on November 5, 2026.

What drove Fundviser Capital's half-year profit increase?

Fundviser Capital's consolidated profit after tax was Rs 6.24 crore for the half year ended September 30, 2026, versus Rs 53.37 lakh in the corresponding six months of 2025. Profit before tax increased to Rs 7.13 crore from Rs 76.61 lakh, while total expenses rose to Rs 75.63 crore from Rs 60.77 crore over the same periods.

Revenue from operations increased to Rs 76.33 crore from Rs 61.49 crore, while other income reached Rs 6.43 crore from Rs 4.85 lakh. The rise in other income, together with a Rs 14.84 crore increase in operating revenue, took total revenue up by Rs 21.22 crore year on year. Total expenses increased by Rs 14.86 crore, leaving a higher pre-tax result.

Fundviser Capital recorded current tax of Rs 56.82 lakh and deferred-tax expense of Rs 31.80 lakh in the latest half year. Net profit attributable to the company's shareholders was Rs 6.23 crore, while non-controlling interests accounted for Rs 4.56 lakh. Total comprehensive income was Rs 6.28 crore, including Rs 3.42 lakh of other comprehensive income.

How did Fundviser Capital perform in the September quarter?

Fundviser Capital reported a consolidated net profit of Rs 3.19 crore for the quarter ended September 30, 2026, compared with a loss of Rs 58.87 lakh in the corresponding 2025 quarter. The latest quarterly profit was also higher than the Rs 3.05 crore reported for the quarter ended June 30, 2026.

Quarterly total revenue was Rs 41.75 crore, compared with Rs 44.13 crore a year earlier and Rs 41.00 crore in the preceding quarter. Although revenue declined year on year, total expenses fell to Rs 37.86 crore from Rs 44.53 crore, producing profit before tax of Rs 3.90 crore against a pre-tax loss of Rs 40.31 lakh in the September 2025 quarter.

Revenue from operations in the September 2026 quarter was Rs 39.50 crore, lower than Rs 44.49 crore a year earlier, while other income was Rs 2.25 crore against Rs 1.36 crore. Purchase of stock in trade was Rs 41.74 crore during the quarter, compared with Rs 1.15 crore in the corresponding quarter, while the change in inventories was a negative Rs 2.95 crore versus a negative Rs 1.15 crore.

The results are unaudited consolidated financial statements prepared under Indian Accounting Standards, or Ind AS. The statutory auditor's review conclusion said nothing had come to its attention to indicate that the statement did not disclose information required under Regulation 33 of the Securities and Exchange Board of India listing regulations, subject to reliance on other auditors for certain subsidiaries.

Which Fundviser Capital segments accounted for revenue and assets?

Fundviser Capital's merchant and foreign trading segment generated Rs 66.83 crore of revenue in the half year ended September 30, 2026, the largest disclosed segment contribution. Bullion contributed Rs 5.65 crore, investment activities and derivatives contributed Rs 3.77 crore, and media and entertainment contributed Rs 7.29 lakh, together reconciling to Rs 76.33 crore of revenue from operations.

Merchant and foreign trading reported profit before finance cost and tax of Rs 3.95 crore for the half year. Investment activities and derivatives reported Rs 3.67 crore, bullion reported Rs 11.29 lakh, and media and entertainment recorded a loss of Rs 42.83 lakh. After Rs 17.77 lakh of consolidated finance cost, Fundviser Capital reported profit before tax of Rs 7.13 crore.

Merchant and foreign trading held segment assets of Rs 579.19 crore at September 30, 2026, against consolidated assets of Rs 630.45 crore. Its segment liabilities were Rs 553.06 crore, compared with total segment liabilities of Rs 555.51 crore. The segment therefore accounted for most of the assets and liabilities reported in the consolidated statement.

The consolidation includes Starlight Box Theatres Private Limited, DARS Transtrade Private Limited, New India RE and Infra LLP and Silver Sage Trading LLC. Silver Sage Trading LLC became a wholly owned foreign subsidiary on April 3, 2026, while Fundviser Capital has held a 51.12% stake in DARS Transtrade since October 23, 2024 and a 64% capital contribution in New India RE and Infra LLP since November 11, 2024.

How did Fundviser Capital's balance sheet and cash flow change?

Fundviser Capital's consolidated assets increased to Rs 630.45 crore at September 30, 2026 from Rs 95.68 crore at March 31, 2026. Trade receivables rose to Rs 573.82 crore from Rs 39.04 crore, while total current assets increased to Rs 595.94 crore from Rs 70.54 crore.

Total equity increased to Rs 74.94 crore from Rs 69.92 crore over the six months. Other equity rose to Rs 47.58 crore from Rs 42.58 crore, while equity share capital was unchanged at Rs 7.90 crore and money received against share warrants remained Rs 13.78 crore.

Current liabilities increased to Rs 555.22 crore from Rs 25.76 crore. The statement shows provisions of Rs 525.64 crore, trade payables other than to micro and small enterprises of Rs 26.21 crore, and other current liabilities of Rs 2.77 crore at September 30. Borrowings were Rs 3 lakh, down from Rs 3.07 crore at March 31.

Fundviser Capital used Rs 9.07 crore in operating activities during the half year, compared with Rs 15.21 crore used in the prior-year half year. Investing activities used Rs 9.85 crore, including Rs 11.92 crore for net purchases, sales or redemptions of investments, while financing activities generated Rs 11.04 crore. Cash and cash equivalents ended at Rs 5.82 crore on September 30, 2026, compared with Rs 6.25 crore reported at the end of the prior-year half year.

Conclusion

Fundviser Capital's filing shows a move from Rs 53.37 lakh of consolidated half-year profit to Rs 6.24 crore, supported by higher revenue from operations and other income. Merchant and foreign trading was the largest disclosed source of segment revenue, assets and liabilities, while the balance-sheet expansion was concentrated in trade receivables, provisions and that segment's reported balances.

The next disclosed matter to watch is deployment of preferential-issue proceeds and the remaining warrants. Shareholders changed the allocation of unutilised funds at the September 22, 2026 annual general meeting, including Rs 23 crore for Silver Sage Trading LLC, for which the filing showed no utilisation by September 30. Fundviser Capital also reported 45 lakh outstanding convertible warrants after 19.85 lakh warrants were converted into shares on March 23, 2026.