Fusion CX advanced Rs 28.415 crore to group firms in June

Fusion CX advanced Rs 28.415 crore to two promoter-group companies in the three months ended June 30, 2026, equivalent to 5.80% of revenue from operations. PKR Services Inc. received Rs 20.64 crore, or 4.21% of revenue, while Windows Technologies Private Limited received Rs 7.775 crore, or 1.59%.

How much did Fusion CX advance to promoter-group companies?

Fusion CX reported Rs 28.415 crore of loans given to two promoter-group and group companies in the June 2026 quarter. The transactions appear in the related-party summary prepared under Indian Accounting Standard 24, or Ind AS 24, which requires disclosure of transactions with related parties.

PKR Services Inc. accounted for Rs 20.64 crore, or about 72.6% of the Rs 28.415 crore advanced in the June 2026 quarter. Windows Technologies Private Limited accounted for the remaining Rs 7.775 crore. The reported percentages use revenue from operations as the denominator, so they show each period's transaction value relative to quarterly revenue, rather than the amount outstanding at June 30, 2026.

How did Fusion CX's June 2026 promoter-group loans change?

Fusion CX's Rs 28.415 crore of June-quarter loan advances was below Rs 51.355 crore in the three months ended March 31, 2026, but above Rs 23.461 crore for the year ended March 31, 2025. The disclosed transaction totals show that lending to PKR Services Inc. and Windows Technologies Private Limited occurred in each of those periods, although the amounts and recipients' shares changed.

PKR Services Inc. received Rs 35.451 crore in the three months ended March 31, 2026, compared with Rs 20.64 crore in the June 2026 quarter. Windows Technologies Private Limited received Rs 15.904 crore in the March 2026 period, compared with Rs 7.775 crore in June 2026. Against the year ended March 31, 2025, PKR Services Inc.'s June-quarter advance of Rs 20.64 crore was close to its Rs 21.461 crore annual amount, while Windows Technologies Private Limited's Rs 7.775 crore exceeded its Rs 2 crore fiscal-2025 amount.

The June-quarter total was Rs 22.94 crore lower than the Rs 51.355 crore reported for the three months ended March 31, 2026. This comparison concerns loans given during each stated period, not the loan balances at period end. The supplied related-party summary does not disclose maturity dates, interest rates, collateral, loan terms or outstanding balances.

Did Fusion CX receive loan repayments during the June quarter?

Fusion CX reported Rs 8.10 crore of loan repayment from Windows Technologies Private Limited in the three months ended June 30, 2026. The related-party table did not report a June-quarter loan repayment from PKR Services Inc.; it reported Rs 62.9 lakh of repayment from PKR Services Inc. in the three months ended March 31, 2026.

Windows Technologies Private Limited's Rs 8.10 crore repayment exceeded its Rs 2.67 crore repayment in the year ended March 31, 2025, but was below Rs 21.714 crore in the three months ended March 31, 2026. Netting the reported June-quarter loans of Rs 28.415 crore against the disclosed Rs 8.10 crore repayment gives a transaction-level net advance of Rs 20.315 crore to the two named companies.

Fusion CX's restated cash-flow statement separately reports net loan given of Rs 20.717 crore for April 1, 2026 to June 30, 2026. That amount is Rs 40.2 lakh above the Rs 20.315 crore calculated from the named related-party loan advances and repayment. The supplied pages do not identify the items causing the difference, so the cash-flow line and related-party summary cannot be treated as identical reporting scopes.

What income and operating dealings accompanied the loans?

Fusion CX's related-party summary identified Rs 1.449 crore of interest income on loans given in the June 2026 quarter. PKR Services Inc. accounted for Rs 1.316 crore, Windows Technologies Private Limited for Rs 13 lakh, and promoter Rasiash Consultants Private Limited for Rs 3 lakh.

PKR Services Inc.'s Rs 1.316 crore of interest income equalled 0.27% of June-quarter revenue from operations, whereas no interest income from that entity was reported for the years ended March 31, 2025 or March 31, 2024. Windows Technologies Private Limited generated Rs 13 lakh of loan-interest income in June 2026, compared with Rs 1.004 crore in fiscal 2025 and Rs 98 lakh in fiscal 2024. The restated cash-flow statement separately records Rs 1.451 crore of interest income on loans to related parties; neither disclosure provides contractual interest rates or related principal balances.

Windows Technologies Private Limited also appeared in operating categories during the June 2026 quarter, including Rs 1.177 crore of outsourcing expenses and Rs 41 lakh of electricity expenses. Fusion CX reported Rs 29 lakh of depreciation on a right-of-use asset, Rs 17 lakh of rent expense, Rs 11.2 lakh of interest income on a security deposit and Rs 5.9 lakh of interest expense on a lease liability involving the company. A right-of-use asset is the accounting asset recognised for a leased property or other leased resource.

How broad were Fusion CX's promoter-group dealings beyond lending?

Fusion CX's June 2026 related-party summary covered lending, interest, lease-linked items, outsourcing, utilities and remuneration to key management personnel, rather than financing alone. The Rs 1.177 crore outsourcing expense involving Windows Technologies Private Limited was the largest disclosed non-loan operating item in the June quarter and represented 0.24% of revenue from operations.

Fusion CX reported Rs 1.48 crore of remuneration to Managing Director and Chief Executive Officer Pankaj Dhankuka and Rs 1.448 crore to Managing Director and Chief Operating Officer Kishore Saraogi for the June 2026 quarter. Chief Financial Officer Amit Soni received Rs 19.5 lakh and Company Secretary and Compliance Officer Barun Singh received Rs 7.2 lakh. These payments were separately classified from transactions with promoter-group companies in the Ind AS 24 summary.

The earlier disclosures include transactions not reported in the June 2026 quarter. Global Seamless Tubes and Pipes Private Limited recorded Rs 3.248 crore of sale of capital work in progress in the year ended March 31, 2026, while Omind Technologies Private Limited and Omind Technologies Inc. recorded subscription costs of Rs 8.254 crore and Rs 6.935 crore, respectively, in fiscal 2024. O'currance Inc. acquired 100% of Omind Technologies Inc.'s issued shares under a December 31, 2023 share purchase agreement, and the disclosure states those transactions preceded its becoming a subsidiary.

Conclusion

Fusion CX's June 2026 disclosures show that related-party financing was concentrated in two promoter-group companies, with Rs 28.415 crore advanced and Rs 20.64 crore, or about 72.6%, going to PKR Services Inc. The same disclosures record Rs 8.10 crore of repayment from Windows Technologies Private Limited, alongside loan interest, outsourcing and lease-related dealings.

The next disclosure to watch is whether Fusion CX provides outstanding loan balances, repayment schedules, interest rates, security or other lending terms for PKR Services Inc. and Windows Technologies Private Limited. The June 2026 summary supplies transaction values and revenue percentages, but it does not disclose those conditions or explain the Rs 40.2 lakh difference between the related-party transaction calculation and the cash-flow statement's net-loan-given line.