Esaar (India) Ltd turned profitable in FY26, reporting a net profit of ₹1,113.69 lakh compared to a net loss of ₹224.40 lakh in the previous year. The Mumbai-based NBFC saw its revenue from operations surge 175% to ₹4,070.88 lakh, driven primarily by significant gains from share trading activities.

The company submitted its 74th Annual Report for the financial year ended March 31, 2026, to the BSE on September 7, 2026. The turnaround was underpinned by a sharp rise in income from operations and a reduction in impairment charges on financial instruments.

Financial Performance

Revenue from operations rose to ₹4,070.88 lakh from ₹1,476.84 lakh in FY25. This growth was largely fueled by a net gain on trading of shares amounting to ₹2,652.97 lakh, a line item that did not exist in the prior year's format due to a change in accounting presentation. Interest income also contributed, rising to ₹1,314.99 lakh from ₹886.93 lakh.

Total expenses stood at ₹2,617.26 lakh. While finance costs increased to ₹972.21 lakh from ₹538.04 lakh, impairment on financial instruments decreased significantly to ₹1,070.44 lakh from ₹1,258.75 lakh. Other income fell to ₹107.73 lakh from ₹412.23 lakh, reflecting lower bad debts written back and sundry balances reversed compared to the previous year.

What the Numbers Show

The profitability in FY26 was heavily influenced by trading activities rather than core lending operations. The net gain on trading of shares (₹2,652.97 lakh) exceeded the total interest income (₹1,314.99 lakh), indicating a strategic shift or increased volume in share trading inventory. Furthermore, while other income dropped sharply, the company managed to reduce its impairment charges by nearly ₹188 lakh, suggesting improved asset quality or specific recoveries within its loan book.

Balance Sheet and Capital Structure

Total assets grew to ₹11,973.26 lakh from ₹10,872.55 lakh. Loans, the largest asset class, remained stable at ₹8,551.78 lakh. However, inventories (shares held for trade) expanded dramatically to ₹1,309.17 lakh from just ₹37.52 lakh, aligning with the revenue mix shift. Borrowings declined to ₹4,688.28 lakh from ₹5,433.22 lakh, improving the debt-equity ratio to 1.19 from 3.00.

Corporate Developments

During the year, Prabhat Capital Investments Limited completed an open offer to acquire up to 26% stake in Esaar (India). Approximately 8.46 lakh shares representing 4.19% of the voting share capital were tendered and accepted. The company also increased its authorized share capital from ₹61.50 crore to ₹81.50 crore. No dividend was recommended for FY26.

The Board appointed Dipesh B. Mistri as CFO effective June 10, 2026, following the resignation of the previous CFO. The secretarial audit highlighted delays in filing quarterly results for Q2 and Q3 FY26 due to the resignation of the statutory auditor during the year.

Esaar (India) Ltd has scheduled its 74th Annual General Meeting for Wednesday, September 30, 2026. The meeting will include a special resolution to approve loans and guarantees of up to ₹100 crore to group entities.

The company notified the Bombay Stock Exchange on September 7, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation complies with General Circulars issued by the Ministry of Corporate Affairs dated April 8, 2020, April 13, 2020, and May 5, 2020.

Meeting Details

The notice and annual report for the financial year ended March 31, 2026, are available on the company website and stock exchange portals. Members holding shares as on the cut-off date of September 4, 2026, are eligible to participate. Remote e-voting facilities have been engaged through National Securities Depository Limited.

Agenda Highlights

The meeting will transact ordinary business, including the adoption of audited financial statements for FY26. Additionally, Mr. Bipin Dinesh Varma, Director (DIN: 05353685), retires by rotation and offers himself for reappointment.

The special business involves a resolution under Section 185 of the Companies Act, 2013. Shareholders will be asked to approve the Board’s authority to advance loans, provide guarantees, or offer security to subsidiaries, associates, joint ventures, or other interested entities. The aggregate amount for these exposures is capped at ₹100 crore at any point in time.