Arihant Capital Markets published its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, in newspapers on July 25, 2026, as required under Regulation 47(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The advertisements appeared in Free Press (English) and Choutha Sansar (Hindi), ensuring broad dissemination to stakeholders and the public. This procedural step follows the Board of Directors' approval of the results on July 24, 2026, confirming the company's adherence to disclosure norms while reinforcing transparency for investors monitoring its performance.

The Board meeting on July 24, 2026, approved the unaudited financials pursuant to Regulation 30 of the SEBI LODR Regulations, 2015. The Audit Committee reviewed the results, which were subjected to a limited review by statutory auditors Arora Banthia & Tulsiyan in accordance with Regulation 33. Chairman & Managing Director Ashok Kumar Jain certified the statements, confirming compliance with Indian Accounting Standard 34 (Ind AS 34). Company Secretary Mahesh Pancholi signed the intimation letter dated July 27, 2026, addressed to the Bombay Stock Exchange and National Stock Exchange.

Financial Performance Highlights

Standalone net profit rose 55.4% year-on-year to ₹1,892.32 lakh from ₹1,217.69 lakh in Q1FY25, driven by a 56.6% surge in fees and commission income to ₹4,010.45 lakh. Revenue from operations grew 50.1% to ₹7,513.46 lakh, up from ₹5,003.56 lakh in the prior period. Interest income contributed ₹2,157.95 lakh, while dividend income remained minimal at ₹1.19 lakh. Total expenditure increased to ₹5,023.13 lakh from ₹3,443.67 lakh, primarily due to higher fees and commission expenses of ₹2,411.83 lakh and finance costs of ₹706.32 lakh.

Consolidated net profit expanded to ₹2,148.94 lakh from ₹1,270.25 lakh in Q1FY25. Consolidated revenue from operations stood at ₹7,791.40 lakh, with broking and related activities contributing ₹7,695.13 lakh and financing activities adding ₹131.90 lakh. The consolidated pre-tax profit was ₹2,815.54 lakh, including a share of profit from associates of ₹95.85 lakh.

Segment and Operational Insights

The Broking & Related Activities segment delivered a pre-tax profit of ₹3,371.24 lakh, a significant improvement from ₹1,849.00 lakh in Q1FY25, underscoring brokerage services as the primary profit engine. The Financing Activities segment reported a modest pre-tax profit of ₹88.52 lakh, slightly down from ₹99.38 lakh in the prior year quarter, indicating stable but less dynamic performance in lending operations.

What the Numbers Show

The disproportionate growth in net gains on fair value changes—up 86.3% to ₹1,343.87 lakh—suggests that trading book performance played a critical role in boosting margins beyond operational fee income. While fees and commission income grew healthily by 56.6%, the volatility inherent in fair value gains implies that future profitability may remain sensitive to market conditions. Additionally, the consolidated results include the impact of a Composite Scheme of Arrangement approved in August 2025, involving Arihant Financial Services Limited and other group entities, which is pending regulatory approvals from the National Company Law Tribunal under Sections 230 and 232 of the Companies Act, 2013.

Arihant Capital Markets Ltd received 'no adverse observations' from BSE Limited and 'no objection' from the National Stock Exchange of India Limited on June 25, 2026, for its composite scheme of arrangement. The exchanges issued observation letters enabling the company to proceed with filing the draft scheme with the National Company Law Tribunal (NCLT), subject to compliance with specific conditions. The scheme involves Arihant Financial Services Limited, Arihant Capital Markets Limited, Arihant Elite Financial Solutions Limited, Arihant Investment Banking Services Limited, and Arihant Money Marvel Wealth Management Limited.

The observation letters from both exchanges outline mandatory compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company must ensure the scheme adheres to Regulation 11 of the LODR Regulations and discloses all details of ongoing adjudication, recovery proceedings, and enforcement actions against the company, its promoters, and directors to the NCLT and shareholders. Additionally, any changes to the draft scheme require specific written consent from SEBI.

Regulatory Conditions and Disclosures

The exchanges have stipulated comprehensive disclosure requirements to be included in the explanatory statement sent to shareholders. These disclosures are intended to enable informed decision-making and include:

• A small explanation of the scheme, the rationale, synergies, and a cost-benefit analysis.
• Details of the Registered Valuer and Merchant Banker, along with the summary of methods used to determine the share-swap ratio.
• Latest financials of all involved companies not older than six months from the date of the stock exchange's No Objection Certificate (NOC).
• Pre and post-scheme shareholding patterns and capital build-up for the last three years.
• Quantitative details of the impact on reserves for all entities involved.

Listing and Operational Requirements

Arihant Elite Financial Solutions Limited (AEFSL) is advised to complete the listing of its securities and commence trading within sixty days of receiving the NCLT order. The validity of the observation letters is six months from June 25, 2026, within which the scheme must be submitted to the NCLT. The exchanges reserve the right to withdraw their observations if any information provided is found to be incomplete or misleading.