HB Stockholdings posts Rs 3.2905 crore September-quarter loss

HB Stockholdings Limited reported a consolidated loss after tax of Rs 3.2905 crore for the three months ended 30 September 2026, compared with a Rs 7.9495 crore profit in the June quarter, as total income fell to Rs 63.72 lakh from Rs 10.1272 crore and the group recorded fair-value and equity-trading losses.

How did HB Stockholdings perform in the September quarter?

HB Stockholdings posted a Rs 3.2905 crore consolidated loss after tax in the three months ended 30 September 2026, reversing a Rs 7.9495 crore profit after tax in the three months ended 30 June 2026. The latest result also compared with a Rs 4.603 crore loss after tax in the quarter ended 30 September 2025. Basic and diluted earnings per share were both negative Rs 4.61, against positive Rs 11.15 in the June 2026 quarter.

Total income declined to Rs 63.72 lakh in the September 2026 quarter from Rs 10.1272 crore in June 2026, although it was above Rs 45.69 lakh in the September 2025 quarter. Revenue from operations was Rs 59.90 lakh, while other income was Rs 3.82 lakh. In June, revenue from operations was Rs 10.0894 crore and other income was Rs 3.78 lakh.

Total expenses were Rs 4.2302 crore for the September quarter, compared with Rs 14.495 crore in the June quarter. This resulted in a loss before tax of Rs 3.593 crore, against a profit before tax of Rs 8.6777 crore three months earlier. A tax credit of Rs 30.25 lakh reduced the post-tax loss from the pre-tax amount.

What caused HB Stockholdings' September-quarter loss?

HB Stockholdings' loss reflected a Rs 2.3269 crore net loss on fair-value changes and a Rs 67.99 lakh net loss in equity derivative trading or share dealing. In the June 2026 quarter, the group instead reported a Rs 8.9942 crore net gain on fair-value changes and a Rs 63.75 lakh profit in equity derivative trading or share dealing. These items accounted for the main change in operating revenue between the two quarters.

Interest income rose to Rs 38.21 lakh in the September quarter from Rs 37.47 lakh in June, and dividend income increased to Rs 21.69 lakh from Rs 8.30 lakh. The rise in these two income lines did not offset the reversal in fair-value and trading outcomes. The September quarter had no net gain on fair-value changes or profit in equity derivative trading or share dealing.

Finance costs increased to Rs 37.69 lakh from Rs 31.87 lakh, while employee-benefit expenses were Rs 79.13 lakh against Rs 78.47 lakh in June. Depreciation and amortisation expenses were Rs 6.02 lakh, compared with Rs 5.99 lakh, and other expenses were Rs 29.50 lakh, compared with Rs 28.62 lakh. A Rs 30 lakh write-back of provision for sub-standard and doubtful assets partly offset these costs in the September quarter.

Did HB Stockholdings remain profitable for the first half?

HB Stockholdings remained profitable for the six months ended 30 September 2026, reporting consolidated profit after tax of Rs 4.659 crore, compared with Rs 2.8529 crore for the six months ended 30 September 2025. Profit before tax rose to Rs 5.0847 crore from Rs 3.3775 crore, while total income increased to Rs 7.80 crore from Rs 6.8493 crore.

The first-half profit was retained because the June-quarter profit of Rs 7.9495 crore exceeded the September-quarter loss of Rs 3.2905 crore. Total comprehensive income for the six months was Rs 5.1867 crore, compared with Rs 3.0123 crore a year earlier. Basic and diluted earnings per share for the six-month period were Rs 6.53, against Rs 4.01 in the corresponding 2025 period.

First-half total expenses fell to Rs 2.7153 crore from Rs 3.4718 crore in the prior-year six-month period. Finance costs increased to Rs 69.56 lakh from Rs 63.17 lakh, while employee-benefit expenses were Rs 1.576 crore, compared with Rs 1.5847 crore a year earlier. The results identify no reportable operating segments under Indian Accounting Standard 108.

What changed in HB Stockholdings' financial position and cash flow?

HB Stockholdings' consolidated total assets increased to Rs 99.5923 crore at 30 September 2026 from Rs 91.4335 crore at 31 March 2026. Investments rose to Rs 73.8913 crore from Rs 64.7232 crore, while loans were unchanged at Rs 14.1215 crore. Cash and cash equivalents decreased to Rs 98.72 lakh from Rs 1.2482 crore.

Borrowings increased to Rs 14.5162 crore at 30 September 2026 from Rs 10.8661 crore at 31 March 2026. Other equity rose to Rs 76.0418 crore from Rs 70.8549 crore, while equity share capital was unchanged at Rs 7.6808 crore. Total liabilities and equity were Rs 99.5923 crore, matching total assets in the unaudited consolidated balance sheet.

Net cash used in operating activities was Rs 3.7481 crore in the six months ended 30 September 2026, compared with Rs 11.6384 crore used in the previous-year period. Investing activities generated Rs 50 lakh, and financing activities generated Rs 2.9871 crore, including Rs 3.6501 crore from borrowings. These movements led to a Rs 26.10 lakh reduction in cash and cash equivalents during the six months.

What did the auditor say about HB Stockholdings' consolidated results?

HB Stockholdings' statutory auditor issued an unmodified conclusion on the limited review of the consolidated financial results for the quarter and six months ended 30 September 2026. The Audit Committee reviewed the results and the Board approved them on 5 November 2026, according to the filing made under Regulation 33 of the Securities and Exchange Board of India listing regulations.

The consolidated results include Mount Finance Limited, HB Stockholdings' wholly owned subsidiary. Mount Finance had total assets of Rs 6.40 lakh at 30 September 2026, no revenue for either the September quarter or first half, and a loss after tax of Rs 63,000 for the quarter and Rs 1.32 lakh for the six months. The auditor said the subsidiary's interim information was not separately reviewed and was not material to the group.

The accounts were prepared under Indian Accounting Standards, including Indian Accounting Standard 34 for interim reporting and Indian Accounting Standard 110 for consolidated financial statements. HB Stockholdings is registered as a non-banking financial company with the Reserve Bank of India, while the filing states that the parent had no reportable segments under Indian Accounting Standard 108.

Conclusion

HB Stockholdings shifted from a Rs 7.9495 crore June-quarter profit to a Rs 3.2905 crore September-quarter loss as fair-value results moved to a Rs 2.3269 crore loss and equity derivative trading or share dealing produced a Rs 67.99 lakh loss. The group nevertheless reported a Rs 4.659 crore profit after tax for the six months ended 30 September 2026, up from Rs 2.8529 crore a year earlier.

The filing discloses no earnings guidance, targets or future scheduled corporate event. The next results will show whether the fair-value and equity-trading lines, which moved from June gains of Rs 8.9942 crore and Rs 63.75 lakh to September losses, continue to drive changes in income, alongside borrowings of Rs 14.5162 crore at 30 September 2026.