Prithvi Exchange (India) Limited reported a significant contraction in profitability for the first quarter of FY26, with standalone net profit falling 37.5% year-on-year to ₹70.90 lakh. The Chennai-based foreign exchange dealer saw its consolidated net profit decline to ₹73.48 lakh, compared to ₹112.48 lakh in Q1FY25. Despite a robust 29.5% surge in revenue from foreign currency sales, driven by higher transaction volumes, the company’s bottom line was pressured by rising operational costs, particularly in employee benefits.

The Board of Directors approved the unaudited financial results on August 08, 2026, following a limited review by statutory auditors M/s Chandarana & Sanklecha. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The results were also reviewed by the Audit Committee before final approval. Extracts of the financial results have been published in newspapers as per Regulation 47 of the SEBI Listing Regulations.

Financial Performance

Total revenue from operations rose sharply to ₹1,10,822.54 lakh in Q1FY26, up from ₹85,627.59 lakh in Q1FY25. This growth was primarily fueled by sales of foreign currencies, which increased to ₹1,10,471.85 lakh from ₹85,289.78 lakh in the corresponding period last year. Other operating income contributed minimally at ₹350.69 lakh. However, total expenses grew at a faster pace than revenue, reaching ₹1,10,762.62 lakh against ₹85,509.48 lakh in Q1FY25.

On a consolidated basis, total income reached ₹1,10,865.45 lakh, while total expenses amounted to ₹1,10,767.97 lakh. The consolidated net profit attributable to owners of the company was ₹73.48 lakh, down from ₹112.48 lakh in Q1FY25. Earnings per share (basic) declined to ₹0.89 from ₹1.36 in the previous year’s corresponding quarter.

What the Numbers Show

The divergence between revenue growth and profit decline highlights a margin compression issue. While revenue surged nearly 30%, total expenses expanded at a similar rate, leaving little room for profit accumulation. Employee benefit expenses emerged as a key cost driver, rising 26.2% YoY to ₹453.79 lakh (standalone) from ₹359.60 lakh. This increase outpaced the growth in other expense categories such as finance cost, which actually decreased slightly to ₹6.19 lakh from ₹6.87 lakh. The narrow profit margin—less than 0.1% of revenue—underscores the low-margin nature of the foreign exchange trading business, where volume gains do not automatically translate to proportional profit improvements if cost structures are not tightly controlled.

Prithvi Exchange (India) Limited has scheduled its 31st Annual General Meeting (AGM) for August 27, 2026, to be conducted exclusively through Video Conferencing (VC) or Other Audio Visual Means (OAVM). The meeting, convened by the Board of Directors on May 23, 2026, allows shareholders to participate remotely in compliance with the Companies Act, 2013, and SEBI Listing Regulations. This digital-first approach ensures broader accessibility for members while adhering to regulatory guidelines regarding physical attendance.

The company has activated remote e-voting facilities for all resolutions set forth in the AGM notice. Shareholders holding shares as of the cut-off date of August 19, 2026, are eligible to cast their votes electronically. The remote e-voting window opens on Monday, August 24, 2026, at 09:00 a.m. IST and closes on Wednesday, August 26, 2026, at 05:00 p.m. IST. Once a vote is cast, it cannot be modified, and members who exercise remote voting rights will not be entitled to vote again during the live AGM session.

Key Dates and Procedures

Shareholders whose names appear in the register of members or beneficial owners as of the cut-off date may access the National Securities Depository Limited (NSDL) platform to vote. Those who become members after the dispatch of the AGM notice but hold shares on the cut-off date can obtain user IDs and passwords by contacting NSDL or the company’s Registrar and Transfer Agent (RTA), Integrated Registry Management Services Private Limited.

Digital Participation and Quorum

In line with circulars issued by the Ministry of Corporate Affairs (MCA) and SEBI, physical attendance is dispensed with for this meeting. Consequently, the facility for appointing proxies is not available. However, corporate members intending to appoint authorized representatives under Sections 112 and 113 of the Companies Act must submit a certified true copy of the board resolution to the Scrutinizer and NSDL prior to the meeting. Attendance via VC/OAVM counts toward the quorum requirement under Section 103 of the Act.

Document Availability

The Notice of AGM and the Annual Report for the financial year 2025-26 have been dispatched electronically to registered email addresses. These documents are also accessible on the company’s website, the BSE Limited website, and the NSDL e-voting portal. Shareholders are advised to review the resolutions carefully before casting their votes during the specified window.