New Markets Avenue Limited will hold a Board of Directors meeting on August 25, 2026, to transact business including the appointment of an additional independent director. The meeting is scheduled at the company's registered office in Mumbai.

The agenda includes considering the appointment of Himanshu Khatri (DIN: 08974992) as an additional director in the capacity of a Non-Executive Independent Director. This move aligns with regulatory requirements for board composition under SEBI listing obligations.

Key Agenda Items

The Board has listed three primary items for discussion during the session:

• Appointment of Himanshu Khatri as an additional Non-Executive Independent Director.
• Approval for the purchase of a software license from Mizzen Digital Private Limited.
• Any other business with the permission of the Chair.

The company, formerly known as New Markets Advisory Limited, issued the intimation on August 21, 2026, pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Kishore Kanhialal Jain, Whole Time Director, signed the communication addressed to the Bombay Stock Exchange.

New Markets Avenue reported a net loss of ₹25.49 lakh for the quarter ended June 30, 2026, reversing a profit position from the corresponding period last year. The Mumbai-based financial services firm posted no revenue from operations, relying entirely on ₹1.80 lakh in other income to generate total revenue. This stands in sharp contrast to the previous quarter, where the company also reported zero operational revenue but incurred lower overall costs. The widening loss underscores the pressure on shareholder capital as the company continues to burn cash without generating core business earnings.

The widening loss was driven by a significant spike in operating expenses, which totaled ₹27.29 lakh for the quarter. Employee benefits expense alone accounted for ₹18.60 lakh, more than double the ₹8.85 lakh reported in the preceding quarter. Other expenses also nearly doubled to ₹8.66 lakh from ₹4.01 lakh. The Board of Directors approved these unaudited financial results on August 11, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were subsequently published in “Pratkaal” and “Financial Express” on August 12, 2026, under Regulation 47(1)(b).

Financial Performance

The company’s basic and diluted earnings per share (EPS) stood at ₹(0.52), down from a positive EPS of ₹0.63 in the same quarter of the previous fiscal year. For the full fiscal year ended March 31, 2026, New Markets Avenue had reported a net loss of ₹31.75 lakh against total revenue of ₹19.59 lakh. Equity share capital remained stable at ₹494.00 lakh.

Fund Utilization Disclosure

Alongside the financial results, the company filed a statement on deviation or variation in the utilization of funds raised under Regulation 32 of the SEBI Listing Regulations. The firm raised ₹5,02,50,000 through a preferential issue on November 27, 2025, primarily for working capital requirements and pre-operating expenses.

As of June 30, 2026, the company utilized ₹2,64,18,489 of the raised funds. The breakdown includes ₹30,66,569 for pre-operative expenses and ₹1,10,84,881 for working capital used for business purposes. Additional expenditures covered salary, RTA payments, software and technology costs, and exchange fees. The company reported no deviation or variation in the use of funds, and no monitoring agency was appointed for this fundraising exercise.

What the Numbers Show

The complete absence of revenue from operations in Q1FY27, combined with a doubling of employee benefits expense, suggests ongoing structural costs despite a lack of business activity. The reliance on other income for total revenue highlights a gap between the company’s operational output and its cash burn rate. With over half of the raised preferential issue funds already deployed towards pre-operative and working capital needs, the pressure to generate operational revenue will intensify in subsequent quarters.