Master Trust Q4 PAT Rises 46.9% YoY to Rs 360.6 Mn; Results Published Under SEBI Reg 47
Master Trust Limited reported audited Q4FY26 consolidated results with PAT surging 46.9% YoY to Rs 360.6 Mn and total income rising 48.1% to Rs 1806.1 Mn, while standalone Q4 PAT stood at Rs 41.5 Mn. For the full year ended March 31, 2026, consolidated PAT declined 3.9% to Rs 1260.9 Mn. The results were published in Business Standard and Desh Sewak on May 14, 2026, under SEBI Regulation 47.
*this image is generated using AI for illustrative purposes only.
Master Trust Limited has announced its audited financial results for the quarter and year ended March 31, 2026. The Board of Directors, in its meeting held on May 12, 2026, approved the standalone and consolidated financial results. The statutory auditors, M/s Bhushan Aggarwal & Co., Chartered Accountants, issued an unmodified opinion on the financial results for the financial year ended March 31, 2026. In compliance with Regulation 47(1)(b) read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company submitted newspaper clippings published in Desh Sewak (Punjabi) and Business Standard (English) on May 14, 2026, regarding these results to the exchanges. The submission was signed by Company Secretary and Compliance Officer Vikas Gupta.
Consolidated Quarterly Financial Performance
For the quarter ended March 31, 2026, the company reported strong year-on-year growth. Total income rose 48.1% to Rs 1806.1 million from Rs 1219.8 million in the same period last year. Profit after tax (PAT) surged 46.9% to Rs 360.6 million from Rs 245.5 million, while profit before tax (PBT) grew 30.2% to Rs 487.3 million. EBITDA increased 21.1% to Rs 640.1 million. Basic earnings per share (EPS) stood at Rs 3.0, up from Rs 2.2 in the prior year period.
| Particulars | Quarter Ended Mar 31, 2026 (Rs Mn) | Quarter Ended Mar 31, 2025 (Rs Mn) | Y-O-Y % |
|---|---|---|---|
| Total Income | 1806.1 | 1219.8 | +48.1% |
| EBITDA | 640.1 | 528.4 | +21.1% |
| Profit Before Tax | 487.3 | 374.2 | +30.2% |
| Profit After Tax | 360.6 | 245.5 | +46.9% |
| EPS-Basic* | 3.0 | 2.2 | +36.4% |
*EPS is calculated on Face Value of Rs. 1 each per share.
On a sequential basis, total income grew 32.1% from Rs 1367.2 million in the quarter ended December 31, 2025. PAT increased 14.4% quarter-on-quarter from Rs 315.2 million, while PBT rose 9.2% from Rs 446.4 million. EBITDA grew 4.8% from Rs 610.5 million, and basic EPS improved to Rs 3.0 from Rs 2.7.
Standalone Financial Performance
For the quarter ended March 31, 2026, standalone total income stood at Rs 83.0 million, compared to Rs 50.1 million in the same period last year. Standalone PBT for the quarter was Rs 55.8 million, up from Rs 26.8 million in the prior year period. Standalone PAT for the quarter was Rs 41.5 million, up from Rs 2.1 million in the prior year. The following table presents the standalone financial summary for both the quarter and full year.
| Particulars | Quarter Ended Mar 31, 2026 (Rs Mn) | Quarter Ended Mar 31, 2025 (Rs Mn) | Year Ended Mar 31, 2026 (Rs Mn) | Year Ended Mar 31, 2025 (Rs Mn) |
|---|---|---|---|---|
| Total Income | 83.0 | 50.1 | 291.5 | 200.2 |
| Profit Before Tax | 55.8 | 26.8 | 197.9 | 101.5 |
| Profit After Tax | 41.5 | 2.1 | 122.3 | 72.6 |
| EPS-Basic (not annualised) ₹ | 0.3 | 0.1 | 1.0 | 0.7 |
| EPS-Diluted (not annualised) ₹ | 0.3 | 0.1 | 1.0 | 0.6 |
Annual Financial Performance
For the full year ended March 31, 2026, total income stood at Rs 5758.5 million, a marginal decline of 1.4% from Rs 5839.4 million in the previous year. EBITDA for the year was Rs 2361.7 million, down 2.8% from Rs 2430.9 million. PBT declined 3.5% to Rs 1724.8 million, while PAT decreased 3.9% to Rs 1260.9 million. Annual basic EPS was reported at Rs 10.6 compared to Rs 11.8 in the preceding year.
| Particulars | Year Ended Mar 31, 2026 (Rs Mn) | Year Ended Mar 31, 2025 (Rs Mn) | Y-O-Y % |
|---|---|---|---|
| Total Income | 5758.5 | 5839.4 | -1.4% |
| EBITDA | 2361.7 | 2430.9 | -2.8% |
| Profit Before Tax | 1724.8 | 1787.2 | -3.5% |
| Profit After Tax | 1260.9 | 1312.4 | -3.9% |
| EPS-Basic* | 10.6 | 11.8 | -10.2% |
*EPS is calculated on Face Value of Rs. 1 each per share.
Board Decisions and Corporate Actions
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 receipt of prior approval from the Reserve Bank of India. The Board also decided to defer the business of sponsoring or setting up of mutual funds by its wholly-owned subsidiary, Master Capital Services Limited, for the time being, despite receiving in-principle approval from SEBI.
Auditor Declaration
In compliance with Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company confirmed that the statutory auditors issued an unmodified opinion on the audited financial results for the financial year ended March 31, 2026. The declaration was signed by Chief Financial Officer Sunil Kumar and submitted to the exchanges.
Historical Stock Returns for Master Trust
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -5.98% | -12.51% | +6.14% | -30.32% | -47.81% | -53.73% |
Given the full-year revenue decline of 1.4% contrasted with strong Q4 growth of 48.1%, what strategic initiatives is Master Trust planning to sustain quarterly momentum and reverse the annual downtrend in FY2027?
With the Board deferring the mutual fund sponsorship plan for Master Capital Services Limited despite receiving SEBI's in-principle approval, what conditions or market factors could trigger a revival of this strategic initiative?
How might the appointment of Mr. Puneet Singhania and Mr. Jashanjyot Singh Arora as Additional Directors, pending RBI approval, influence Master Trust's governance structure and future business direction in the NBFC or broking space?
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