Disha Resources reported a standalone net loss of ₹6.83 lakh for the first quarter ended June 30, 2026 (Q1FY26), compared to a net loss of ₹6.30 lakh in the corresponding period of FY25. Despite the bottom-line loss, revenue from operations surged to ₹73.17 lakh, a significant increase from ₹2.93 lakh in Q1FY25, driven by activity in its 'Trading Others' segment. The company’s total comprehensive income for the quarter was ₹167.91 lakh, primarily boosted by fair value gains on equity instruments held through other comprehensive income.

The Board of Directors approved the unaudited standalone financial results at a meeting held on July 25, 2026. The results were reviewed by the statutory auditors, S N Shah & Associates, Chartered Accountants, in accordance with Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The financial statements were prepared in accordance with Indian Accounting Standard 34 (Ind AS 34).

Financial Performance

Revenue from operations rose sharply to ₹73.17 lakh in Q1FY26 from ₹2.93 lakh in Q1FY25. This growth was attributed to the 'Trading Others' segment, which contributed ₹73.17 lakh, whereas the 'Trading In Shares' segment reported nil revenue. In contrast, the previous quarter (Q4FY25) saw revenue of ₹47.69 lakh, including ₹11.97 lakh from service income, which was nil in Q1FY26.

Total expenses increased to ₹82.72 lakh in Q1FY26 from ₹11.33 lakh in Q1FY25. Purchases of stock-in-trade accounted for ₹72.23 lakh of this expense. Employee benefits expense decreased slightly to ₹4.34 lakh from ₹4.85 lakh in the prior year period. Other expenses stood at ₹6.12 lakh.

The company incurred a loss before tax of ₹9.55 lakh in Q1FY26, compared to a profit before tax of ₹10.38 lakh in Q4FY25. Deferred tax expenses amounted to ₹2.72 lakh. The basic and diluted earnings per share (EPS) for continuing operations were negative ₹0.37 per share.

Balance Sheet and Ratios

As of June 30, 2026, the company’s net worth, as per Section 2(57) of the Companies Act, 2013, stood at ₹1,143.90 lakh. This includes paid-up equity share capital of ₹731.55 lakh and other equity reserves of ₹1,769.97 lakh, less the reserve for equity instruments through OCI created out of fair valuation.

Total segment assets increased to ₹2,581.06 lakh from ₹2,334.50 lakh at the end of FY25. Unallocable assets constituted the majority at ₹2,504.23 lakh. Total segment liabilities were ₹79.54 lakh, with unallocable liabilities at ₹3.70 lakh.

Key financial ratios for Q1FY26 included a current ratio of 1.14, down significantly from 28.79 in Q4FY25. The debtors turnover ratio was 1.90. The operating margin was -13.05%, and the net profit margin was -2.44%. The debt-equity ratio was not disclosed for the current quarter but was 0.05 in Q1FY25.

What the Numbers Show

The dramatic surge in revenue from ₹2.93 lakh to ₹73.17 lakh year-on-year highlights a shift in business activity towards 'Trading Others', replacing the earlier 'Trading In Shares' focus which yielded nil revenue in Q1FY26. However, the gross margin on these new trading activities appears thin, as purchases of stock-in-trade (₹72.23 lakh) nearly matched the revenue generated, contributing only ₹0.94 lakh to segment results. This operational loss was partially offset by significant fair value gains in equity instruments, which added ₹246.53 lakh to other comprehensive income, turning the total comprehensive income positive despite the net loss from operations.

Promoter Mayadevi Krishnavtar Kabra increased her shareholding in Disha Resources Limited to 12.61% through an off-market inter-se transfer of equity shares executed as a gift. The transaction involved the acquisition of 2,44,448 equity shares, representing 3.34% of the paid-up share capital, from Radhadevi Premnarayan Maheshwari, an immediate relative. The transfer was completed on June 19, 2026, and disclosed to the company under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Following the acquisition, Mayadevi Kabra's total holding rose to 9,22,448 equity shares. Conversely, Radhadevi Premnarayan Maheshwari divested her entire stake of 2,44,448 shares, reducing her holding to zero. The equity share capital of Disha Resources Limited remains at 7,31,55,000 equity shares of ₹10 each. The intimation regarding this change was formally submitted to BSE Limited on June 23, 2026.

Transaction Details

The table below details the changes in shareholding for the parties involved: