Artemis ADR Marketplace Q4FY26 Results: Net loss widens 1% to ₹74.93 lakh
- Net loss widened 1% YoY to ₹74.93 lakh for FY26
- Revenue from operations fell 49% to ₹37.75 lakh
- Cash reserves surged to ₹2,000 lakh post-warrant issuance
- Company pivots from spice trading to ADR services
- AGM scheduled for September 21, 2026
*this image is generated using AI for illustrative purposes only.
Artemis ADR Marketplace reported a net loss of ₹74.93 lakh for the fiscal year ended March 31, 2026, widening slightly from the previous year's loss of ₹74.48 lakh. The company will hold its 14th Annual General Meeting on September 21, 2026.
Revenue from operations declined 49% year-on-year to ₹37.75 lakh as the firm exited its spice trading business to pivot toward alternate dispute resolution services. Despite the operational loss, the balance sheet strengthened significantly following a major capital raise.
Financial Performance
The company recorded a profit before tax of (₹82.37 lakh), compared to (₹78.20 lakh) in FY25. Total revenue stood at ₹57.93 lakh, driven by other income of ₹20.17 lakh, which surged from ₹6.39 lakh in the prior year. This increase was largely due to interest income on fixed deposits generated from recent fundraising activities.
| Metric | FY26 | FY25 | Change |
|---|---|---|---|
| Revenue from Operations | ₹37.75 lakh | ₹73.55 lakh | -49% |
| Other Income | ₹20.17 lakh | ₹6.39 lakh | +215% |
| Total Expenditure | ₹107.42 lakh | ₹158.14 lakh | -32% |
| Net Loss After Tax | ₹74.93 lakh | ₹74.48 lakh | +1% |
Total expenditure fell to ₹107.42 lakh from ₹158.14 lakh in FY25, reflecting the cessation of inventory purchases for its former spice business. However, operating margins remained deeply negative at -217.93%, highlighting the ongoing costs associated with transitioning to a service-based model.
Capital Raise and Balance Sheet
A defining feature of the financial year was the issuance of 98.58 lakh equity warrants to Bridge India Fund. The company received ₹2,661.60 lakh (75% of the issue price) upfront, with the remaining balance payable upon exercise. This infusion boosted cash and cash equivalents to ₹2,000.00 lakh as of March 31, 2026, up from just ₹41.35 lakh in the previous year.
Consequently, the current ratio improved sharply to 116.54x from 227.44x, while net worth expanded by 281.80% to ₹3,444.84 lakh. The company also capitalized ₹584.71 lakh towards the development of its new ADR marketplace infrastructure.
Strategic Pivot and Governance
Shareholders approved the change in the company's main object clause in December 2025, shifting focus from spice trading to providing mediation, arbitration, and conciliation services. The name change from Jetmall Spices and Masala Limited was finalized in May 2026.
The AGM agenda includes the reappointment of M/s K Singh & Associates as statutory auditors for four years and the reappointment of Ms. Arti Chadha as a director retiring by rotation. The board also seeks ratification of the auditor's certificate confirming that over 50% of revenue in the preceding year derived from the new business activity.
Historical Stock Returns for Artemis ADR Marketplace
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | 0.0% | 0.0% | 0.0% | +330.66% | +483.62% |
How long is the company projected to remain cash-burn negative before its new alternate dispute resolution services generate sufficient revenue to offset operating costs?
What specific strategies does management have in place to mitigate dilution risks for existing shareholders once Bridge India Fund exercises its 98.58 lakh equity warrants?
Given the deep negative operating margins, what key performance indicators will signal that the pivot from spice trading to ADR services has successfully stabilized?
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