Quest Capital Markets Limited reported a net profit of ₹72.51 lakh for the first quarter ended June 30, 2026, marking a significant decline from the ₹153.63 lakh earned in the corresponding period of FY25. Revenue from operations fell by approximately 47% year-on-year to ₹115.07 lakh, pressured by a steep drop in income from its venture capital fund and lower profits on the sale of right entitlements. Despite the operational slowdown, the company recorded a substantial total comprehensive income of ₹24,901.72 lakh, largely driven by unrealized gains in other comprehensive income.

The Board of Directors approved the unaudited financial results at its meeting held on August 11, 2026, pursuant to Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, V. Singhi & Associates, who issued an unmodified opinion. Mr. Sunil Kumar Sanganeria, Director, was authorized to sign the results.

Financial Performance

The company’s revenue mix shifted significantly during the quarter. Income from the venture capital fund dropped to ₹0.27 lakh from ₹10.94 lakh in Q1FY25. Similarly, net gain on fair value changes decreased to ₹0.01 lakh compared to ₹0.03 lakh in the prior year quarter, though this remains a minor component relative to the massive ₹2,684.69 lakh gain recorded in the full previous fiscal year. Profit on sale of right entitlements also contracted to ₹109.35 lakh from ₹204.65 lakh. Dividend income rose to ₹5.44 lakh from ₹1.18 lakh.

Total expenses stood at ₹15.06 lakh, slightly higher than the ₹12.10 lakh incurred in Q1FY25, due to increased employee benefits expense (₹7.29 lakh vs ₹5.81 lakh) and administrative costs (₹6.96 lakh vs ₹5.48 lakh). Tax expense for the quarter was ₹27.50 lakh, comprising deferred tax of ₹27.50 lakh with no current tax provision.

Board Appointments

In addition to financial results, the Board approved the appointment of Mr. Alok Kalani and Mr. Gopal Rathi as Additional Directors (Non-Executive, Non-Independent) effective August 11, 2026. This move follows prior approval from the Reserve Bank of India under the RBI (Non-Banking Finance Companies – Registration, Exemptions and Framework of Scale Based Regulation) Directions, 2025. Both directors are liable to retire by rotation and seek shareholder approval via postal ballot for their continuation as Non-Executive Directors until July 1, 2031.

Mr. Alok Kalani, Executive Director (Corporate Finance) at the RP-Sanjiv Goenka Group, brings over three decades of experience in corporate finance and governance. Mr. Gopal Rathi, a Chartered Accountant heading Strategy and M&A at the same group, has over 21 years of experience in acquisitions and corporate strategy. The cut-off date for determining voting eligibility for the postal ballot was fixed as August 7, 2026, with M/s. K. Arun & Co., Practicing Company Secretaries, appointed as the scrutinizer.

Quest Capital Markets shareholders approved a final dividend of ₹2.50 per equity share for the financial year ended March 31, 2026, alongside the adoption of audited financial statements, at its 40th Annual General Meeting (AGM) held on July 27, 2026. The Kolkata-based stockbroking firm also secured shareholder approval for the reappointment of two independent directors, signaling continued stability in its governance structure.

The AGM, conducted via Video Conferencing (VC) / Other Audio-Visual Means (OAVM) pursuant to SEBI and Ministry of Corporate Affairs (MCA) guidelines, commenced at 11:00 a.m. and concluded at 11:46 a.m. Harish Toshniwal, Director of the company, presided over the meeting as Chairman. Twenty-seven members attended the proceedings, including two represented by authorized representatives. In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company submitted the summary of proceedings to BSE Limited.

Voting was conducted through remote e-voting from July 24 to July 26, 2026, followed by e-voting during the AGM using the Central Depository Services (India) Limited (CDSL) platform. K. Arun & Co., appointed as the scrutinizer by the Board, certified that the voting process adhered to Section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014. Out of 10 million total shares, 7,501,688 votes were polled, representing a 75.02% turnout.

All five resolutions placed before the members passed with overwhelming support. The promoter group, holding 7.5 million shares, voted in favor of all items. Public non-institutional shareholders also largely supported the agenda, with resolutions receiving between 99.29% and 100% of valid votes cast. No abstentions were recorded.

Key Resolutions Passed

Sunil Kumar Sangneria was appointed as a director liable to retire by rotation. Independent directors Rusha Mitra and Trivikram Khaitan were reappointed for a second term of five consecutive years each. The company confirmed that the Auditors’ Report did not contain any qualifications, and statutory registers were made available electronically for inspection during the meeting.