Master Trust Limited reported a consolidated net profit of ₹346.5 crore for the quarter ended June 30, 2026 (Q1FY27), marking a 74% increase from ₹271.1 crore in the corresponding period of FY26. This significant profitability surge was driven by a 14% year-on-year rise in total revenue from operations to ₹1,497.9 crore, alongside improved operational leverage. In addition to strong financial results, the group’s subsidiary, Master Capital Services Limited, successfully raised ₹30 crore through Non-Convertible Debentures (NCDs), receiving listing approval from the National Stock Exchange of India Limited (NSE) on May 7, 2026.

The Board of Directors approved the unaudited financial results on August 4, 2026, pursuant to Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subjected to a limited review by statutory auditors Bhushan Aggarwal & Co., Chartered Accountants, in compliance with Standard on Review Engagements (SRE) 2410. Company Secretary Vikas Gupta submitted the disclosure to the exchanges on August 4, 2026.

Financial Performance Highlights

The company’s growth was broad-based, with earnings per share (EPS) on a consolidated basis rising to ₹2.8 from ₹2.4 in Q1FY26. EBITDA increased by 19.3% to ₹618.3 million, outpacing revenue growth and indicating margin expansion. Standalone net profit also surged 74% to ₹34.8 crore from ₹20.0 crore a year ago.

On a standalone basis, Master Trust Limited recorded revenue from operations of ₹68.8 million, up from ₹49.4 million in Q1FY26. Interest income contributed ₹63.1 million, while income from dealing in securities added ₹5.6 million. Total expenses stood at ₹22.3 million, slightly lower than the ₹22.8 million incurred in the previous year’s quarter.

Strategic Developments and Segment Analysis

The Broking & Allied segment remained the primary revenue driver, contributing ₹1,416.1 million to the consolidated top line, an increase from ₹1,231.0 million in Q1FY26. This segment delivered the highest profit before tax at ₹434.7 million. The Investment/Trading in Securities & others segment saw its contribution rise significantly to ₹26.2 million from ₹9.2 million year-ago.

Beyond organic growth, Master Capital Services Limited, a wholly-owned subsidiary, executed a strategic fund raise of ₹30 crore through NCDs. The proceeds are designated to support business growth, strengthen the capital base, and enhance financial flexibility for future expansion. Additionally, the group’s Merchant Banking Division achieved a key milestone by acting as Co-Book Running Lead Manager for the initial public offering of Happy Steels Limited, reinforcing its capabilities in primary capital market transactions.

Total assets under the consolidated group expanded to ₹22,698.4 million, up from ₹20,550.5 million in Q1FY26. Shareholder’s fund increased to ₹8,555.3 million from ₹6,669.9 million during the same period.

What the Numbers Show

The divergence between the 14% revenue growth and the 74% jump in net profit indicates improved operational leverage and margin expansion. While finance costs remained relatively stable at ₹145.5 million (down slightly from ₹147.8 million), employee benefit expenses rose to ₹296.0 million from ₹231.2 million, reflecting potential investments in human capital or variable pay structures tied to higher revenues. The Interest segment reported a loss before tax of ₹3.6 million, contrasting with a profit of ₹7.1 million in the prior year, suggesting volatility in interest income or higher funding costs in that specific vertical despite overall group strength. The successful NCD issuance provides additional liquidity to offset such sector-specific pressures while funding broader expansion.

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)

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.