Sreeram Reddy Vanga, a promoter of Photon Capital Advisors Limited, has increased his stake in the company by acquiring 9,97,000 equity shares via an off-market transfer. The transaction, which took place on June 18, 2026, raises the acquirer's holding to 54.47% of the total voting capital of the company. The shares were transferred from an escrow demat account maintained for the purpose of an open offer made by Vanga under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, to his own demat account upon the closure of the offer process.

The disclosure was submitted to BSE Limited pursuant to Regulation 29(2) of the SEBI (SAST) Regulations, 2011. The acquisition pertains to shares carrying voting rights, and no warrants or convertible securities were acquired in this specific transaction. Prior to the acquisition, Vanga held 4,85,000 equity shares, accounting for 17.83% of the total share capital.

Details of shareholding

The following table outlines the changes in Vanga's shareholding and voting rights as a result of the acquisition:

Capital structure details

The total equity share capital of Photon Capital Advisors Limited before and after the acquisition remains unchanged at ₹2,72,06,940, divided into 27,20,694 equity shares of ₹10 each. However, the total diluted share capital, which accounts for the full conversion of outstanding convertible securities and warrants, stands at ₹4,71,06,940, divided into 47,10,694 equity shares of ₹10 each. The off-market transfer mode was utilized for this acquisition.

Photon Capital Advisors Limited returned to profitability in the financial year ended March 31, 2026, reporting a net profit of ₹88.88 lakh compared to a net loss of ₹50.64 lakh in the previous year. The turnaround was driven by revenue from operations, which totaled ₹144 lakh for the year, up from zero in FY25. Total income for the year rose to ₹172.64 lakh from ₹24.54 lakh in the prior year, while total expenses increased to ₹64.50 lakh from ₹50.59 lakh.

For the quarter ended March 31, 2026, the company reported a net profit of ₹120.19 lakh, a significant increase from the net loss of ₹31.43 lakh in the same quarter of the previous year. Revenue from operations for the quarter was ₹144 lakh, compared to nil in the corresponding period last year. Total income for Q4FY26 stood at ₹157.37 lakh, while total expenses were ₹17.92 lakh.

The Board of Directors, in its meeting held on May 29, 2026, approved the annual audited financial statements for FY26 and the audited financial results for the quarter ended March 31, 2026. The meeting commenced at 3:00 p.m. and concluded at 5:10 p.m. on the same day. The financial results were reviewed by the Audit Committee and are prepared in accordance with Ind AS prescribed under Section 133 of the Companies Act, 2013, and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

M. Anandam & Co., Chartered Accountants, issued an Independent Auditor's Report on the quarterly and year-to-date audited financial results. The report states that the financial results give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards. The audit was conducted in accordance with the Standards on Auditing specified under section 143(10) of the Companies Act, 2013.

The paid-up equity share capital of the company increased to ₹272.07 lakh as of March 31, 2026, from ₹151.37 lakh in the previous year. Basic Earnings Per Share (EPS) for FY26 was reported at ₹5.73, compared to a loss of ₹3.35 per share in FY25. For the quarter ended March 31, 2026, Basic EPS stood at ₹7.24.

Financial Performance Summary

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