Daulat Securities reported a net profit of ₹227.0 crore for the first quarter of FY26, marking a significant year-on-year increase from ₹131.0 crore in Q1FY25. The gain was driven by a 66% rise in revenue from operations, which stood at ₹246.3 crore, compared to ₹148.1 crore in the corresponding period last year.

The company’s total income for the quarter was ₹254.5 crore, up from ₹161.0 crore in Q1FY25. This improvement included other income of ₹3.2 crore and profit on the sale of investments amounting to ₹5.0 crore. In contrast, the preceding quarter (Q4FY25) had seen a loss before tax of ₹313.0 crore, highlighting the volatility inherent in its share broking and depository services business.

Financial Performance

Total expenses for the quarter decreased by 8% to ₹27.5 crore from ₹30.0 crore in Q1FY25. Employee benefits expense remained relatively stable at ₹11.5 crore, while other expenses fell to ₹16.1 crore from ₹18.2 crore. There were no finance costs or depreciation expenses recorded for the quarter, with depreciation provision scheduled for year-end.

What the Numbers Show

The profitability in Q1FY26 is heavily influenced by non-operating items. While revenue from operations grew significantly, the profit on the sale of investments (₹5.0 crore) and other income (₹3.2 crore) contributed to the bottom line. Notably, the company incurred no tax expense for the quarter, allowing the pre-tax profit of ₹227.0 crore to flow directly to the net profit figure. This contrasts with the full year FY25, where deferred tax expenses impacted the final result.

Balance Sheet Position

As of June 30, 2026, Daulat Securities’ total assets increased to ₹2,322.0 crore from ₹2,110.0 crore at the end of FY25. Non-current financial assets, primarily investments, rose to ₹1,102.0 crore from ₹887.0 crore. Current assets, including inventories and trade receivables, stood at ₹853.0 crore.

The equity base remained unchanged at ₹500.0 crore, while other equity increased to ₹1,660.0 crore. Current liabilities were ₹144.0 crore, mainly comprising trade payables of ₹137.0 crore. The company reported no borrowings under both current and non-current liabilities.

Corporate Actions

The Board of Directors, in its meeting held on August 14, 2026, approved the unaudited financial results along with the cash flow statement and the limited review report issued by the statutory auditors, P D Randar and Co. The Audit Committee had reviewed these documents prior to the board meeting.

Additionally, the board:

• Approved the Board’s Report and Secretarial Auditor’s Report for FY25.
• Appointed a scrutinizer for the voting process of the 33rd Annual General Meeting (AGM).
• Approved the draft notice for the 33rd AGM, including its date, time, and venue.
• Considered the book closure date for the AGM.

The company operates in the share broking and depository services segment. As per Ind AS 108, it does not have separate operating reportable segments, and thus segment reporting is not applicable. The quarterly results are not indicative of likely annual results due to the nature of the capital markets in which the company operates.

Daulat Securities Limited reported a net loss of ₹178.72 lakh for the financial year ended March 31, 2026, reversing from a net profit of ₹161.80 lakh in the previous year. The company’s revenue from operations turned negative during the year, recorded at (₹142.80) lakh compared to ₹166.30 lakh in FY25. Total comprehensive income for the year stood at (₹240.47) lakh, a sharp decline from ₹77.25 lakh in the prior year.

The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 29, 2026. The results were reviewed by the Audit Committee prior to approval. The statutory auditors issued an unmodified audit report on the standalone financial results, confirming compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Extracts of the audited financial results were published in Arthik Lipi (Bengali) and Business Standard (English) on May 30, 2026.

Financial Performance

The company’s financial performance deteriorated significantly in FY26, with total income dropping to (₹77.62) lakh from ₹290.99 lakh in the previous year. Expenses for the year decreased to ₹118.57 lakh from ₹131.49 lakh. Profit before tax for the year was (₹196.19) lakh, compared to a profit of ₹159.50 lakh in FY25.

For the quarter ended March 31, 2026, the company reported a net loss of (₹295.27) lakh. Revenue from operations for the quarter was (₹287.20) lakh, while total expenses were ₹36.93 lakh. The basic and diluted earnings per share (EPS) for the year stood at (₹3.57), compared to ₹3.24 in the previous year.

Balance Sheet and Cash Flows

The company’s total assets as of March 31, 2026, stood at ₹2,109.62 lakh, a decrease from ₹2,347.96 lakh in the previous year. Equity and liabilities totaled ₹2,109.62 lakh, with other equity decreasing to ₹1,433.41 lakh from ₹1,673.88 lakh. Current liabilities increased to ₹158.88 lakh from ₹157 lakh.

Cash flow from operating activities resulted in a net outflow of (₹62.12) lakh for the year, compared to an inflow of ₹105.12 lakh in the previous year. Cash and cash equivalents at the end of the year were ₹19.93 lakh, up from ₹10.73 lakh in the prior year.

Key Financial Metrics for FY26

Auditor's Report

P. D. Randar & Co., Chartered Accountants, the statutory auditors, provided an unmodified opinion on the standalone financial results. The report confirmed that the results give a true and fair view of the company's net loss and other comprehensive income for the year ended March 31, 2026, in conformity with Indian Accounting Standards (Ind AS). The auditors noted that the figures for the quarter ended March 31, 2026, are balancing figures between the audited annual results and the published unaudited figures for the preceding three quarters.