TCI Finance Limited has completed its quarterly regulatory compliance by submitting the mandatory certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The submission demonstrates the company's adherence to securities market regulations and transparency requirements.

Regulatory Compliance Details

The certificate confirms that TCI Finance Limited has furnished all required details of securities dematerialized and rematerialized during Q4 FY26 to the stock exchanges where its shares are listed. This quarterly reporting requirement ensures transparency in the movement of securities between physical and electronic form.

Stock Exchange Communications

The compliance certificate was formally communicated to both major stock exchanges where TCI Finance shares are traded. The company maintains listings on BSE Limited and National Stock Exchange of India Limited, ensuring comprehensive market coverage.

Registrar Confirmation

KFin Technologies Private Limited, serving as the Registrar to an Issue and Share Transfer Agent for TCI Finance Limited, provided confirmatory letters dated April 1, 2026. These letters were addressed to both Central Depository Services (India) Limited and National Securities Depository Limited, certifying compliance with the regulatory requirements.

The confirmation letters were signed by Bhaskar Roy, Deputy Vice President at KFin Technologies Limited, validating that all necessary details regarding securities dematerialization and rematerialization activities have been properly reported to the relevant stock exchanges.

Corporate Governance

This quarterly submission reflects TCI Finance Limited's commitment to maintaining proper corporate governance standards and regulatory compliance. The timely filing of the certificate demonstrates the company's systematic approach to meeting SEBI requirements and maintaining transparency with market participants and regulatory authorities.

TCI Finance Limited has announced its unaudited standalone financial results for the quarter ended December 31, 2025, reporting a significant net loss of ₹109.31 lakhs compared to ₹23.11 lakhs loss in the corresponding quarter of the previous year. The board meeting held on February 10, 2026, approved these results in accordance with Regulation 33 of SEBI (LODR) Regulations, 2015.

Financial Performance Overview

The company's financial performance deteriorated significantly during Q3FY26, with total comprehensive loss reaching ₹125.75 lakhs against ₹361.52 lakhs loss in Q3FY25. The company reported zero revenue from operations, relying solely on other income of ₹0.03 lakhs.

Nine-Month Performance

For the nine months ended December 31, 2025, TCI Finance reported a net loss of ₹188.85 lakhs compared to ₹94.91 lakhs loss in the corresponding period of the previous year. The total comprehensive loss for nine months stood at ₹106.38 lakhs.

Expense Analysis

The company's total expenses for Q3FY26 increased to ₹109.34 lakhs from ₹27.00 lakhs in Q3FY25. Finance costs emerged as a significant burden at ₹80.54 lakhs, while employee benefit expenses stood at ₹17.92 lakhs and other expenses at ₹10.88 lakhs.

RBI Deregistration Notice and Legal Proceedings

TCI Finance faces regulatory challenges as it received a notice from the Reserve Bank of India directing surrender of its Certificate of Registration for voluntary deregistration as an NBFC due to non-maintenance of minimum Net Owned Funds. The company has filed a writ petition before the Hon'ble High Court of Telangana, which passed an interim order on July 7, 2025, directing RBI not to take coercive action. The matter is scheduled for final hearing on January 28, 2026.

Corporate Guarantee and Investment Issues

The company continues to face substantial exposures from corporate guarantees given to lenders of Amrit Jal Ventures Private Limited and its subsidiaries, aggregating to ₹25,619.80 lakhs. Certain lenders have invoked guarantees and raised claims of ₹17,820.89 lakhs, against which the company has made a provision of ₹7,798.91 lakhs. Additionally, the company has written off investments in Gati Limited shares totaling ₹1,704.66 lakhs due to prolonged legal proceedings and uncertainty regarding recoverability.

The statutory auditors have qualified their opinion regarding these matters and emphasized concerns about the company's going concern status. The company maintains that management is exploring various alternatives and new areas to venture into for revival.