Ontic Finserve Limited reported zero revenue from operations for the quarter ended September 30, 2026 (Q2FY27). The company posted a net loss of ₹4.20 lakh, compared to a profit of ₹30.65 lakh in the corresponding period last year.

The Board of Directors approved the unaudited financial results on October 19, 2026. Total income for the quarter stood at ₹0.00, as both operational revenue and other income were nil. This marks a significant decline from the ₹46.20 lakh total income recorded in Q2FY26.

Financial Performance Overview

The company’s top line collapsed to zero in Q2FY27, down from ₹40.06 lakh in Q2FY25 and ₹0.00 in Q1FY27. Other income also fell to nil, contrasting with ₹6.14 lakh in the year-ago quarter. Consequently, the bottom line swung from a profit of ₹30.65 lakh in Q2FY25 to a loss of ₹4.20 lakh in Q2FY27.

Note: Figures are in lakhs. Loss indicated in parentheses.

Expense Structure and Balance Sheet

Total expenses for the quarter amounted to ₹4.20 lakh, primarily comprising employee benefits of ₹1.36 lakh and other expenses of ₹2.83 lakh. This represents a decrease from ₹4.78 lakh in Q2FY25. However, expenses remained significantly lower than the ₹289.56 lakh incurred in the previous quarter (Q1FY27), which was inflated by ₹288.71 lakh in other expenses.

On the balance sheet, cash and cash equivalents stood at ₹2.66 lakh as on September 30, 2026, down from ₹25.91 lakh as on March 31, 2026. Long-term borrowings were recorded at ₹11.37 lakh, while short-term borrowings reduced to nil from ₹3.50 lakh at the end of FY26. Reserves and surplus showed a negative balance of ₹85.78 lakh, indicating accumulated losses eroding shareholder equity.

What the Numbers Show

A critical divergence is visible between the sharp drop in total assets and the reduction in debt. Total assets declined from ₹43.84 crore (as per balance sheet figures in rupees, approx ₹4.38 crore) to ₹1.80 crore (approx ₹18.05 lakh) over the half-year period. This contraction coincides with a repayment or reclassification of short-term borrowings. The complete absence of revenue generation in two consecutive quarters (Q1FY27 and Q2FY27) suggests a halt in core business activities, leaving the company reliant on financing activities, such as the ₹5.00 lakh inflow from long-term debentures/term loans during H1FY27, to maintain liquidity.

Ontic Finserve Limited shareholders approved the adoption of audited financial statements for the year ended March 31, 2026, alongside a reduction and consolidation of share capital. The resolutions were passed during the Annual General Meeting held on September 30, 2026.

The meeting commenced at 1:00 pm and concluded at 2:30 pm at the company's registered office. The proceedings were conducted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key agenda items

Two primary business items were transacted during the assembly:

1. Adoption of the Audited Profit and Loss Account for the year ended March 31, 2026, and the Balance Sheet as on that date, along with the Auditors' Report.
2. Approval of the Reduction and Consolidation of Share Capital.

Voting results and scrutiny

The consolidated scrutinizer's report, submitted by Jitendra Parmar & Associates on October 1, 2026, detailed the voting outcomes. The remote e-voting period ran from September 27 to September 29, 2026, via the CDSL platform. A total of 48 members cast votes across both resolutions, representing 26,008,333 shares in aggregate for Resolution 1 and 25,969,227 shares for Resolution 2.

Resolution 1: Adoption of FY26 financial statements

The first resolution received unanimous support from all participating members. No dissenting votes or invalid ballots were recorded.

Resolution 2: Reduction and consolidation of shares

The second resolution also passed with a requisite majority, though it saw minor opposition. Four members voted against the proposal, casting 39,106 votes against, while 44 members voted in favor with 25,969,227 votes.

Corporate governance details

The notice was signed by Director Bhupendrakumar Raiyani. The company confirmed that all proposed resolutions were duly approved by the members present. The scrutinizer noted that promoter group members did not attend the meeting or cast votes, with all participation coming from public shareholders.