Gretex Corporate Services Limited reported consolidated revenue from operations of ₹1,785 Mn for the quarter ended June 30, 2026 (Q1FY27). The SEBI-registered Category-I Merchant Banker posted a net profit of ₹276 Mn for the period, reflecting stable performance in its capital markets advisory and transaction execution business.

The filing was submitted to the National Stock Exchange of India Limited and BSE Limited on August 08, 2026, pursuant to Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Bhavna Desai, Group Head – Legal, Company Secretary & Compliance Officer, signed the submission.

Financial Performance

The company’s financial results for FY24–FY26 highlight the trajectory of its consolidated operations. Revenue from operations grew significantly from ₹1,090 Mn in FY24 to ₹2,589 Mn in FY25, before settling at ₹1,785 Mn in FY26. Operating expenses followed a similar trend, rising to ₹2,576 Mn in FY25 before decreasing to ₹1,358 Mn in FY26.

Profit Before Tax (PBT) stood at ₹394 Mn in FY26, compared to ₹50 Mn in FY25 and ₹471 Mn in FY24. The tax provision for FY26 was ₹118 Mn.

Balance Sheet Position

As of FY26, Gretex Corporate Services Limited reported total assets of ₹2,441 Mn. Non-current assets decreased to ₹950 Mn from ₹1,725 Mn in FY25, primarily due to changes in financial assets and deferred tax assets. Current assets rose to ₹1,491 Mn in FY26, driven by an increase in inventories to ₹1,340 Mn and trade receivables to ₹100 Mn.

On the liabilities side, shareholders’ fund stood at ₹2,187 Mn in FY26. Total current liabilities increased to ₹217 Mn, with short-term borrowings at ₹103 Mn and lease liabilities at ₹12 Mn. Cash and cash equivalents saw a net decrease of ₹106 Mn in FY26.

What the Numbers Show

The normalization of margins in FY26 is a key development for investors. The presentation notes that the margin dip in FY25 was non-recurring, driven by the scale-up of low-margin, high-volume market-making activities which inflated revenue at wafer-thin spreads. In contrast, the core fee-based merchant-banking business remained profitable throughout. This shift suggests a stabilization of profitability as the company balances its diversified service portfolio across merchant banking, broking, and wealth services.

Operational Highlights

Gretex continues to leverage its presence in Mumbai and Kolkata to execute deals across multiple sectors. With over 200 total transactions executed historically, the firm has established itself as a top volume performer on the BSE. The company migrated to the mainboard in September 2025 and has mobilized approximately ₹495 crore through 11 IPOs in recent periods. The forward pipeline indicates continued visibility in primary issuances, supported by deepening domestic flows in India’s capital markets.

Gretex Corporate Services Limited has secured in-principle approval from India’s premier stock exchanges for a preferential allotment of 19,51,000 Fully Convertible Equity Share Warrants (FCEWs). The National Stock Exchange of India Limited and BSE Limited granted the approvals on August 07, 2026, paving the way for the company to raise capital from promoters and non-promoters. This move allows Gretex Corporate Services Limited to strengthen its capital base while adhering to stringent regulatory frameworks governing preferential issues.

The warrants are priced at not less than ₹358 each and will convert into 19,51,000 equity shares with a face value of ₹10 each. Pursuant to Regulation 28(1) and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company disclosed the receipt of approval letters from both exchanges. The NSE issued letter reference NSE/LIST/55077, while BSE issued letter reference LOD/PREF/SS/FIP/638/2026-27, both dated August 07, 2026.

Regulatory Compliance and Conditions

Both exchanges have mandated strict adherence to internal controls before the allotment of securities. The primary focus is on monitoring trades executed by proposed allottees to prevent non-compliance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Specifically, the company must obtain undertakings from allottees confirming they will not engage in intra-day trading or sell the scrip until the allotment date.

The onus of verification lies solely with Gretex Corporate Services Limited. Any non-compliance observed post-verification may impact the listing of the shares. Furthermore, the company must file a listing application within twenty days from the date of allotment, as per Schedule XIX – Para (2) of the ICDR Regulations and SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023. Failure to comply attracts fines as specified in the circular.

Operational Implications

The approval is conditional upon the company fulfilling all statutory requirements, including obtaining necessary approvals from the Reserve Bank of India, Ministry of Corporate Affairs, and other relevant authorities. The exchanges reserve the right to withdraw the in-principle approval if submitted information is found to be incomplete, incorrect, or misleading.

Upon allotment, Gretex Corporate Services Limited must submit the listing application without delay, along with applicable fees, in terms of Regulation 14 of the LODR Regulations. For convertible securities, depositories will automatically release the excess lock-in period of pre-preferential holdings without requiring a No Objection Certificate from the exchange, ensuring smoother post-issue formalities.

What the Numbers Show

The issuance of 19,51,000 warrants at a minimum price of ₹358 represents a significant capital infusion mechanism for Gretex Corporate Services Limited . By targeting both promoters and non-promoters, the company signals confidence in its growth trajectory while diversifying its shareholder base. The strict regulatory oversight on trading behavior highlights the importance of market integrity during such corporate actions, ensuring that the allotment process remains transparent and compliant with SEBI’s guidelines on insider trading and market manipulation.