Master Trust Limited published its unaudited financial results for the quarter ended June 30, 2026 (Q1FY27), in the newspapers Desh Sewak (Punjabi) and Business Standard (English) on August 6, 2026. This publication fulfills the disclosure requirements under Regulation 47(1)(b) read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results confirm a consolidated net profit of ₹346.5 million, marking a 27.8% year-on-year increase from ₹271.1 million in the corresponding period of FY26.

The Board of Directors had previously approved these results on August 4, 2026. The financial statements 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, and subsequently filed the newspaper clippings with BSE Limited and National Stock Exchange of India Ltd on August 6, 2026.

Financial Performance Highlights

Earnings per share (EPS) on a consolidated basis rose to ₹2.80 from ₹2.40 in Q1FY26. EBITDA increased by 19.3% to ₹618.3 million, outpacing revenue growth and indicating improved operational efficiency. The EBITDA margin widened by 190 basis points to 41.3%. Profit before tax also grew significantly, supporting the bottom-line expansion.

The following table summarises the key consolidated financial metrics for the quarter:

On a standalone basis, Master Trust Limited recorded revenue from operations of ₹68.80 million, up from ₹49.40 million in Q1FY26. Interest income contributed ₹63.10 million, while income from dealing in securities added ₹5.60 million. Total expenses stood at ₹22.30 million, slightly lower than the ₹22.80 million incurred in the previous year's quarter.

Strategic Developments and Segment Analysis

The Broking & Allied segment remained the primary revenue driver, contributing approximately 94.5% of total revenue in Q1FY27. This segment delivered healthy growth in core broking operations. The Investment/Trading in Securities & others segment saw its contribution rise significantly by 184.8% year-on-year, reflecting higher treasury and investment-related income. Portfolio Management Services contributed ₹27.9 million, while Insurance Broking added ₹9.4 million.

Beyond organic growth, Master Capital Services Limited, a wholly-owned subsidiary, successfully listed its Non-Convertible Debentures (NCDs) on the NSE Debt Segment. Managing Director Harjeet Singh Arora noted that this listing strengthens the capital structure, enhances financial flexibility, and diversifies funding sources. Additionally, the group's Merchant Banking Division acted as Co-Book Running Lead Manager for the initial public offering of Happy Steels Limited.

Total assets under the consolidated group expanded to ₹22,698.40 million, up from ₹20,550.50 million in Q1FY26. Shareholder's fund increased to ₹8,555.30 million from ₹6,669.90 million during the same period.

What the Numbers Show

The divergence between the 13.8% revenue growth and the 27.8% jump in net profit indicates improved operational leverage and margin expansion, further evidenced by the EBITDA margin widening to 41.3%. While finance costs remained relatively stable, employee benefit expenses rose, reflecting potential investments in human capital or variable pay structures tied to higher revenues. The successful NCD issuance provides additional liquidity to offset sector-specific pressures while funding broader expansion. The significant growth in the Investment/Trading segment suggests that treasury activities are becoming a more material contributor to overall profitability, complementing the stable core broking business.

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.