Standard Capital Markets posts Rs 58.3914 crore half-year loss

Standard Capital Markets Limited posted a consolidated pre-tax loss of Rs 58.3914 crore for the half year ended September 30, 2026, after a Rs 26.1058 crore profit a year earlier, as total income declined to Rs 42.9833 crore from Rs 150.8565 crore.

What were Standard Capital Markets' half-year earnings?

Standard Capital Markets reported a consolidated pre-tax loss of Rs 58.3914 crore in the half year ended September 30, 2026, reversing from a pre-tax profit of Rs 26.1058 crore in the corresponding half year ended September 30, 2025. The group reported a net loss of Rs 58.1699 crore after a deferred-tax credit of Rs 0.2216 crore, compared with net profit of Rs 26.1058 crore a year earlier.

Total income declined by Rs 107.8732 crore year on year to Rs 42.9833 crore. Revenue from operations fell to Rs 42.2108 crore from Rs 135.168 crore, while other income declined to Rs 0.7138 crore from Rs 15.6885 crore. Standard Capital Markets is primarily engaged in financial services and reported no separate operating segments under Indian Accounting Standard 108.

Total expenses fell by Rs 23.375 crore to Rs 101.3757 crore, but remained above total income by Rs 58.3924 crore before the reported tax credit. Finance costs rose to Rs 57.335 crore from Rs 5.1823 crore, depreciation and amortisation increased to Rs 2.0113 crore from Rs 1.1027 crore, and other expenses rose to Rs 41.282 crore from Rs 24.7507 crore.

How did Standard Capital Markets' September quarter compare?

Standard Capital Markets reported a pre-tax profit of Rs 10.6528 crore for the quarter ended September 30, 2026, compared with a pre-tax loss of Rs 69.0342 crore in the quarter ended June 30, 2026. The September quarter therefore offset part of the preceding quarter's loss but did not prevent the Rs 58.3914 crore first-half pre-tax loss.

September-quarter total income was Rs 32.146 crore, compared with Rs 10.5383 crore in the June 2026 quarter and Rs 83.8536 crore in the quarter ended September 30, 2025. Revenue from operations rose sequentially to Rs 31.8198 crore from Rs 10.3906 crore, but remained below the Rs 76.7046 crore recorded in the prior-year September quarter.

The September-quarter result included total expenses of Rs 21.4932 crore against total income of Rs 32.146 crore. Basic and diluted earnings per share, or EPS, were Rs 0.043 on equity shares with a face value of Rs 1 each, compared with negative Rs 0.153 in the September 2025 quarter. The half-year EPS was negative Rs 0.213, against negative Rs 0.135 in the corresponding prior-year half.

How much did Standard Capital Markets' balance sheet change?

Standard Capital Markets' consolidated total assets declined to Rs 2,001.9723 crore at September 30, 2026 from Rs 3,152.7454 crore at March 31, 2026. Financial assets fell to Rs 1,982.3785 crore from Rs 3,133.3057 crore, while non-financial assets increased to Rs 19.5938 crore from Rs 19.4397 crore.

Loans declined by Rs 1,056.6126 crore over the six months to Rs 1,229.0412 crore from Rs 2,285.6538 crore. Investments declined to Rs 655.07 crore from Rs 820.2768 crore, while other financial assets increased to Rs 25.3357 crore from Rs 21.2531 crore. Cash and cash equivalents increased to Rs 66.025 crore from Rs 5.7952 crore.

Borrowings were Rs 1,262.8718 crore at September 30, 2026, down Rs 912.2547 crore from Rs 2,175.1265 crore at March 31, 2026. Other financial liabilities decreased to Rs 255.4334 crore from Rs 469.7328 crore. Equity fell to Rs 380.8033 crore from Rs 433.7785 crore, as other equity declined to Rs 135.3455 crore from Rs 188.3207 crore while equity share capital remained Rs 245.4578 crore.

What do Standard Capital Markets' cash flows and disclosures show?

Standard Capital Markets recorded net cash inflow from operating activities of Rs 787.495 crore in the September 30, 2026 cash-flow column, compared with an outflow of Rs 722.5981 crore for the year ended March 31, 2026. The operating inflow included a Rs 1,056.6127 crore decrease in loans, even as the group reported a Rs 58.3914 crore pre-tax loss.

Investing activities generated Rs 185.7948 crore of cash in the September 2026 column, reflecting Rs 185.7948 crore of investment sales and no investment purchases. Financing activities used Rs 913.06 crore, including Rs 912.2547 crore of repayment of borrowings and a Rs 0.8053 crore share-premium correction. These movements produced a Rs 60.2298 crore increase in cash and cash equivalents, from Rs 5.7951 crore at opening to Rs 66.025 crore at closing in the cash-flow statement.

The statutory auditor issued an unmodified limited-review conclusion on the consolidated results dated November 14, 2026. The auditor drew attention to an inadvertent credit of Rs 80.52968 lakh to the security premium account during financial year 2025-26, which Standard Capital Markets said it rectified in the current period; the auditor did not modify its conclusion for this matter.

Standard Capital Markets also withdrew its proposed Rs 1,200 crore subscription for 881,380 compulsorily convertible preference shares of Sunbridge Solar Power Private Limited at Rs 13,615 per share. Management cited regulatory requirements, concentration of credit and investment exposures, and the need to safeguard financial and regulatory interests. The consolidated accounts include three wholly owned subsidiaries, which together reported nil revenue and a Rs 13.17 lakh net loss for the half year.

Conclusion

Standard Capital Markets' first-half figures show a reversal from Rs 26.1058 crore of pre-tax profit to a Rs 58.3914 crore loss as total income dropped Rs 107.8732 crore. The same reporting period included a Rs 1,056.6126 crore reduction in loans, a Rs 912.2547 crore decline in borrowings and a Rs 60.2298 crore rise in cash and cash equivalents.

The next reported results will show whether the September 2026 quarter's Rs 10.6528 crore pre-tax profit is sustained after the June-quarter loss. Investors can also monitor Standard Capital Markets' capital allocation after management withdrew the proposed Rs 1,200 crore Sunbridge Solar Power Private Limited preference-share subscription.