Master Trust FY26 net profit rises 68% to ₹122.3 million

Master Trust reported a 68.4% increase in standalone net profit to ₹122.3 million for the financial year ended March 31, 2026, compared to ₹72.6 million in the previous year. Revenue from operations for the year rose to ₹291.5 million from ₹200.2 million in FY25. The consolidated net profit for the year stood at ₹1260.9 million, with total revenue from operations at ₹5758.5 million.

Standalone Financial Performance

For the quarter ended March 31, 2026, the standalone net profit was ₹41.5 million, a significant increase from ₹2.1 million in the corresponding quarter of the previous year. Total revenue from operations for the quarter stood at ₹83.0 million, up from ₹50.1 million in Q4 FY25. Interest income for the quarter was ₹69.2 million, while income from dealing in securities was ₹13.7 million.

The Board of Directors approved the audited financial results for the quarter and financial year ended March 31, 2026, at a meeting held on May 12, 2026. The results were reviewed by the Audit Committee prior to Board approval.

Consolidated Results

On a consolidated basis, net profit for the quarter ended March 31, 2026, was ₹360.6 million, compared to ₹245.5 million in the same period last year. Total revenue from operations for the quarter increased to ₹1806.1 million from ₹1219.8 million. For the full year, consolidated revenue was ₹5758.5 million, slightly lower than ₹5839.4 million in the previous year.

Key Financial Metrics (Standalone)

Particulars	Year Ended March 31, 2026 (₹ in millions)	Year Ended March 31, 2025 (₹ in millions)
Total Revenue from Operations	291.5	200.2
Total Expenses	93.6	98.7
Profit Before Tax	197.9	101.5
Net Profit	122.3	72.6
Basic Earnings Per Share (Rs.)	1.0	0.7

Corporate Governance and Board Decisions

The Board approved the re-appointment of M/s Romesh K. Aggarwal & Associates, Chartered Accountants, as the Internal Auditor for the financial year 2026-2027. Additionally, the Board approved the proposal for the appointment of Mr. Puneet Singhania and Mr. Jashanjyot Singh Arora as Additional Directors, subject to prior approval by the Reserve Bank of India.

The Board also decided to defer the business of sponsoring or setting up mutual funds by Master Capital Services Limited, a wholly-owned subsidiary, which had received in-principle approval from SEBI. The statutory auditors, M/s Bhushan Aggarwal & Co., issued an unmodified opinion on the audited financial results.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+17.75%	+26.03%	+3.02%	-18.90%	-31.00%	-45.91%

Master Trust Limited has announced the grant of 9,45,200 stock options to eligible employees under its 'Master Trust Limited Employee Stock Option Plan 2025' (ESOP 2025). The Nomination & Remuneration Committee (NRC) of the Board of Directors approved the grant at its committee meeting held on 16th May, 2026, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The grant has been made in compliance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The disclosure has been made in accordance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and December 31, 2024.

Key Details of the ESOP 2025 Grant

Each stock option is convertible into one fully paid-up equity share carrying a face value of INR 1/- each. The following table summarises the key parameters of the grant:

Parameter:	Details
Number of Options Granted:	9,45,200
Plan Name:	Master Trust Limited Employee Stock Option Plan 2025 (ESOP 2025)
Face Value per Share:	INR 1/-
Exercise Price:	Discounted price at not exceeding 20% discount to prevailing market price (closing price on the Stock Exchange having the highest trading volume) one day prior to the date of grant
Vesting Period:	Minimum 1 year; maximum 4 years from the date of grant
Exercise Period:	Maximum 4 years from the date of respective vesting of options
Lock-in after Vesting:	None, except as required by applicable law
Plan Administrator:	Nomination and Remuneration Committee (NRC)

Vesting Schedule

The options will vest over a period of 4 years from the grant date, with 25% vesting annually, subject to continued employment and satisfaction of performance conditions as set forth in the grant letter. The vesting schedule is as follows:

Vesting Milestone:	Options Vesting
End of 1st year from grant date:	25% of options granted
End of 2nd year from grant date:	25% of options granted
End of 3rd year from grant date:	25% of options granted
End of 4th year from grant date:	25% of options granted

Significant Terms and Conditions

The ESOP 2025 plan is administered by the Nomination and Remuneration Committee. Grants are made based on eligibility criteria as defined under the plan. Equity shares allotted pursuant to the exercise of stock options will not be subject to any lock-in period after exercise, except as required by applicable law at the time. Employees may exercise all vested options at one time or at various points within the exercise period. All tax liabilities in relation to the options are to be borne by the employee.

Vesting is subject to the satisfaction of performance criteria and/or service conditions as determined by the NRC. The granted ESOPs will vest as per the vesting schedule cited in the individual grant letter of each employee, as approved by the NRC.