Rikhav Securities FY26 audited results approved May 23

Board clears audited numbers for FY26

Rikhav Securities Limited said its Board of Directors approved the audited financial results for the year and half-year ended March 31, 2026. The approval was taken at the board meeting held on May 23, 2026. The update matters because it formally closes the company’s audited reporting cycle for FY26, and also provides a compliance anchor for investors tracking filings and auditor observations. The company is listed on BSE under the ticker RIKHAV (544340). Alongside the audited results, the board also cleared the auditors’ reports and a statement tracking the utilisation of funds. The approvals come after the company had earlier reported a turnaround in H1 FY26 profitability versus the prior period.

What the board approved on May 23, 2026

The company said the board approved a set of audited results and supporting documents for the period ended March 31, 2026. These approvals covered both standalone and consolidated financials. It also included formal assurance documents from the auditors, and a funds utilisation statement.

The board-approved items were:

• Standalone audited financial results for the financial half year and year ended March 31, 2026
• Consolidated audited financial results for the financial half year and year ended March 31, 2026
• Independent auditors’ report on standalone and consolidated results
• Statement of funds utilised as on March 31, 2026

H1 FY26 consolidated highlights previously disclosed

In an earlier H1 FY26 update, Rikhav Securities reported consolidated financial performance for the half year. The company reported total income of ₹386.67 crore and EBITDA of ₹25.96 crore. EBITDA margin was reported at 6.71%. Consolidated net profit stood at ₹17.75 crore, with a net profit margin of 4.59%. EPS for the period was ₹4.64.

The company also disclosed that revenue from operations rose to ₹379.91 crore in H1 FY26, and total income increased 67% to ₹386.67 crore. It said revenue from operations surged 68.8% to ₹379.91 crore. On a consolidated basis, it reported profit of ₹17.75 crore, including its subsidiary RSL IFSC Private Limited. The company also reported cash and equivalents of ₹9.69 crore in the period, describing it as a strong liquidity position.

Standalone turnaround in H1 FY26

For the half year ended September 30, 2025, the company reported standalone profit of ₹17.86 crore, reversing previous losses. It also reported revenue from operations of ₹379.91 crore for the same half year, up from ₹92.99 crore in the same period last year, as stated in the disclosure. Earnings per share improved to ₹4.66 on the standalone numbers referenced. The company reported operating profit before working capital changes at ₹19.20 crore, and linked performance improvement to better inventory management.

The operational data points were accompanied by management commentary indicating continued traction in business segments. The company said it onboarded several institutional clients, and flagged that it had started building a new product line through a margin trading facility. These disclosures framed the H1 FY26 period as a recovery phase, with profitability and scale-up coming together after a weaker comparative base.

Management commentary: growth guidance and margin trading facility

Commenting on H1 FY26 performance, Chairman and Managing Director Hitesh Lakhani said the company’s performance improved during H1 FY26, reflecting steady operational progress and business expansion. The management said it expected overall growth of around 20% to 25% year-on-year. It also disclosed the start of its Margin Trading Facility (MTF) with a current book size of approximately ₹10 crore. Management said it expected the MTF segment to grow 30% to 40% every half year.

While the company’s guidance and product commentary are forward-looking, the disclosed numbers provide context for what management is prioritising. The MTF book size disclosure is particularly relevant for investors tracking risk, funding requirements, and potential interest income contribution over time. The institutional client onboarding point suggests an effort to diversify beyond retail flows and improve stability across market cycles.

FY25 audited results: key numbers and headwinds cited

In another disclosure dated May 15, Rikhav Securities reported audited financial results for H2 FY25 and FY25. For FY25, it reported total income of ₹327.77 crore, EBITDA of ₹34.50 crore, and an EBITDA margin of 10.53%. Net profit for FY25 was reported at ₹23.67 crore, with a net profit margin of 7.22%. EPS for FY25 was reported at ₹7.51.

In the same update, management said H2 faced challenges due to a sharp correction in midcap and SME stocks, and reduced derivative volumes following regulatory changes by SEBI. It also disclosed a strategic reclassification of certain equity investments from non-current investments to stock-in-trade, aligning with a shift toward active trading. As a result of this change, a non-cash fair valuation loss of ₹33.88 crore was recognised in the Profit and Loss account as of March 31, 2025, which management said materially affected reported profitability.

Longer financial history: FY22 to FY25 trend points

Rikhav Securities’ published tables show a sharp expansion in operating income over FY22 to FY25, alongside a drop in margins in FY25. Operating income in the provided Profit and Loss table rose from ₹35.27 crore (Mar 2022) to ₹48.56 crore (Mar 2023), then ₹103.31 crore (Mar 2024), and ₹318.06 crore (Mar 2025). Profit after tax in the same table was ₹17.39 crore (Mar 2022), ₹20.19 crore (Mar 2023), ₹42.37 crore (Mar 2024), and ₹23.93 crore (Mar 2025). The same table showed adjusted EPS of ₹5.80 (Mar 2022), ₹6.74 (Mar 2023), ₹14.14 (Mar 2024), and ₹6.25 (Mar 2025).

Another table in the disclosure reported revenue of ₹42.98 crore (2022), ₹54.52 crore (2023), ₹110.60 crore (2024), and ₹327.77 crore (2025), with net profit of ₹17.62 crore (2022), ₹19.57 crore (2023), ₹42.21 crore (2024), and ₹23.67 crore (2025). It also showed operating profit margin declining to 10.56% in 2025 from 49.65% in 2024, and net profit margin declining to 7.22% in 2025 from 38.16% in 2024.

Key figures at a glance

Market impact and what investors track next

The board’s approval of audited results is primarily a compliance and disclosure milestone, but it also provides investors a clearer basis to compare audited annual performance against earlier half-year unaudited disclosures. The inclusion of an independent auditors’ report for both standalone and consolidated results is important for users of financial statements who track qualifications, emphasis-of-matter notes, and accounting policy disclosures. The statement of funds utilised as on March 31, 2026 adds another layer of transparency for stakeholders tracking deployment of capital.

Operationally, the company’s H1 FY26 disclosures highlighted rapid growth in revenue from operations and a return to profitability. The management commentary flagged continued focus on expansion, institutional onboarding, and scaling a margin trading facility with an initial book size of about ₹10 crore. Investors are also likely to keep a close watch on the effect of market conditions and regulatory changes referenced in the FY25 commentary, given the company’s exposure to capital market activity and trading volumes.

Conclusion

Rikhav Securities said its board approved standalone and consolidated audited results for the half-year and year ended March 31, 2026, along with the auditors’ reports and a funds utilisation statement, at its May 23, 2026 meeting. The approval follows disclosures of consolidated H1 FY26 total income of ₹386.67 crore and net profit of ₹17.75 crore, and earlier FY25 audited numbers that included a ₹33.88 crore non-cash fair valuation loss linked to investment reclassification. The next set of investor cues will come from the detailed audited financial statements and auditor observations forming part of the approved results, and any subsequent operational updates on the margin trading facility and institutional client traction.