Modern shares & stockbrokers Limited has notified BSE Limited that it will not be submitting the Annual Secretarial Compliance Report for the financial year ended 31st March, 2026, citing regulatory exemptions under SEBI guidelines.

Regulatory Exemption Details

The company has claimed exemption under Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. According to this regulation, corporate governance provisions do not apply to listed entities that meet specific financial thresholds.

Compliance Report Non-Applicability

The Annual Secretarial Compliance Report requirement falls under Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018, read with BSE Circular dated 9th May, 2019. Since the company qualifies for the exemption under Regulation 15(2), it is not required to submit this compliance report.

Official Communication

The notification was formally communicated to BSE Limited on April 1, 2026, through an official letter bearing reference number MSSL/003/2026-2027. The communication was addressed to the General Manager-Listing at BSE Limited's Phiroze Jeejebhoy Towers office in Mumbai.

The company has requested BSE Limited to take this exemption claim on record, emphasizing that the non-submission of the Annual Secretarial Compliance Report is in accordance with applicable SEBI regulations for entities meeting the specified financial criteria.

Modern Shares & Stockbrokers Limited reported challenging third-quarter results for FY26, posting a net loss of ₹4.78 lakhs for the quarter ended December 31, 2025. This represents a significant decline from the profit of ₹15.90 lakhs achieved in the previous quarter and a loss of ₹0.62 lakhs in the corresponding quarter of the previous year.

Financial Performance Overview

The company's financial performance showed mixed results across different time periods:

Revenue Composition and Analysis

The company's revenue streams showed varying performance during Q3FY26. Brokerage and commission income, the primary revenue driver, declined to ₹61.75 lakhs from ₹77.39 lakhs in the previous quarter. Interest income remained relatively stable at ₹19.44 lakhs compared to ₹20.03 lakhs in Q2FY26.

Expense Structure

Total expenses increased to ₹86.53 lakhs in Q3FY26 from ₹78.86 lakhs in the previous quarter. Employee benefit expenses remained the largest cost component at ₹42.74 lakhs, while administrative and other expenses rose significantly to ₹39.52 lakhs from ₹30.86 lakhs in Q2FY26.

Nine-Month Performance

Despite the quarterly challenges, the company maintained steady performance over the nine-month period. Total revenue for nine months FY26 stood at ₹285.18 lakhs compared to ₹292.06 lakhs in the corresponding period of FY25. Net profit for the nine-month period was ₹26.03 lakhs, marginally lower than ₹26.95 lakhs achieved in 9M FY25.

Corporate Governance and Compliance

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on January 30, 2026. The meeting commenced at 1:45 PM and concluded at 2:40 PM. Statutory auditors BDG & Co LLP conducted a limited review of the quarterly results in accordance with Regulation 33 of SEBI Listing Regulations.

Regulatory Compliance

Pursuant to Regulation 47 of SEBI Listing Regulations, the company published newspaper extracts of its unaudited financial results on February 1, 2026. The publication appeared in The Free Press Journal (English) and Navshakti (local regional language). Whole Time Director Anil S Manghnani communicated the compliance to BSE Limited through reference MSSL/046/2025-2026 dated February 2, 2026.

Key Financial Metrics

The company maintained a paid-up equity share capital of ₹293.11 lakhs with a face value of ₹10 per share. Other equity stood at ₹980.63 lakhs as per the previous year's balance sheet. The total comprehensive income for Q3FY26 was negative ₹6.33 lakhs after accounting for other comprehensive income items, primarily related to re-measurement losses on defined benefit plans.