Ontic Finserve appointed PCS Jitendra Parmar as its secretarial auditor for the financial year 2025-26. The company’s board of directors approved the appointment during a meeting held on August 31, 2026.

The meeting commenced at 12:30 pm and concluded at 1:00 pm at the company’s registered office. The decision aligns with regulatory requirements under Regulation 30 of the SEBI (LODR) Regulations, 2015.

Board Meeting Outcome

The sole agenda item addressed during the session was the statutory appointment of the secretarial auditor. The board formally resolved to appoint PCS Jitendra Parmar to oversee compliance and governance matters for the upcoming fiscal year.

The company filed the outcome with the Department of Corporate Services at the Bombay Stock Exchange Ltd. following the conclusion of the meeting.

Ontic Finserve Limited reported a significant deterioration in its financial performance for the first quarter of FY27, posting a net loss of ₹2.87 crore (₹287.39 lakh) for the quarter ended June 30, 2026. This stands in sharp contrast to the net profit of ₹40.13 lakh (₹40.13 lakh) recorded in the corresponding quarter of the previous fiscal year.

The Board of Directors approved the unaudited standalone financial results on August 14, 2026. The results were reviewed by the Audit Committee and subjected to a limited review by statutory auditors Nirav S. Shah & Co.

Financial Performance

The company’s top-line revenue remained at zero for the current quarter, mirroring the trend from the preceding quarter (Q4FY26). However, this represents a decline from the ₹56.12 lakh in operational revenue recorded in Q1FY26. Total income for the quarter stood at just ₹2.17 lakh, derived entirely from other income sources.

Expense Surge Drives Loss

The primary driver of the quarterly loss was a substantial increase in operating costs. Total expenses rose to ₹289.56 lakh in Q1FY27, compared to ₹5.51 lakh in Q1FY26. This spike was largely attributed to "other expenses," which jumped to ₹288.71 lakh from ₹4.04 lakh year-over-year. Employee benefit expenses also increased slightly to ₹0.84 lakh from ₹1.45 lakh.

For the full fiscal year ended March 31, 2026, the company had reported a net profit of ₹54.17 lakh on total revenues of ₹109.42 lakh. The current quarter’s results mark a reversal of that annual profitability.

What the Numbers Show

The divergence between income and expenditure is stark. With total income limited to ₹2.17 lakh and total expenses soaring to ₹289.56 lakh, the company’s operational cash generation appears severely constrained. The absence of revenue from operations combined with a near-60x increase in other expenses suggests a period of significant non-operational spending or restructuring costs, though the specific nature of these expenses was not detailed in the filing. The basic earnings per share turned negative at (₹0.32), down from ₹0.04 in the prior year quarter.