Hybrid Financial Services Limited has received the final certified copy of the National Company Law Tribunal (NCLT) order approving the merger of its wholly-owned subsidiary, Maximus Securities Limited. The company informed stock exchanges on December 10, 2025, about receiving the certified order dated December 8, 2025, from the Assistant Registrar, NCLT Mumbai Bench.

BSE Query and Company Response

Following the company's submission, BSE raised a query on December 11, 2025, regarding potential delays in disclosure under SEBI regulations. The exchange noted that additional details required under SEBI Circular dated November 11, 2024, were not disclosed within the mandatory 24-hour timeframe.

Company's Clarification

In response to BSE's query, Hybrid Financial Services clarified that there was no delay from the company's side. The company explained the timeline of events:

The company emphasized that it had already submitted the NCLT Mumbai Bench order dated October 16, 2025, on October 17, 2025, itself within the time limit. The delay was attributed to waiting for the certified true copy, which was signed on December 8, 2025, and actually handed over to the company on December 9, 2025, afternoon.

NCLT Order Details

The key details of the tribunal's approval remain as follows:

Merger Benefits and Implementation

The NCLT order highlights several strategic benefits including operational efficiency through simplified group structure, cost savings from operational consolidation, and enhanced economies of scale. As Maximus Securities was a wholly-owned subsidiary, no new share issuance will occur, and existing shares will be cancelled upon the scheme becoming effective.

Regulatory Compliance Status

The merger has received necessary approvals from key regulatory bodies including post-facto approvals from NSE (June 12, 2025) and BSE (July 9, 2025), along with SEBI compliance and depository participant approvals.

With the certified NCLT order now received and clarifications provided to the exchange, Hybrid Financial Services will proceed with the operational integration of Maximus Securities, expected to enhance the company's market position while delivering improved operational efficiencies to shareholders.

Hybrid Financial Services Limited has released its unaudited financial results for the second quarter and half-year ended September 30, 2025, revealing a mixed performance amidst market fluctuations.

Financial Highlights

The company's financial performance for Q2 FY2026 can be summarized in the following table:

Key Observations

1. Revenue Performance: Hybrid Financial Services reported a total income from operations and others of ₹746.76 lakhs for the quarter ended September 30, 2025.

2. Profitability: The company's net profit after tax stood at ₹14.75 lakhs for Q2 FY2026, while the half-year figure reached ₹38.06 lakhs.

3. Earnings Per Share: Both basic and diluted earnings per share were reported at ₹0.05 for the quarter, indicating modest profitability on a per-share basis.

4. Other Comprehensive Income: The company experienced fluctuations in other comprehensive income, particularly in remeasurement gains/losses on non-current investments. For Q2 FY2026, it reported a gain of ₹0.18 lakhs, a significant improvement from the loss of ₹484.77 lakhs in the previous comparable period.

5. Share Capital: The paid-up equity share capital remained constant at ₹1,471.81 lakhs, consisting of shares with a face value of ₹5 each.

Market Context

The company's performance comes amid a challenging market environment. The significant swing in other comprehensive income, particularly related to non-current investments, suggests volatility in the broader market that may have impacted the company's investment portfolio.

Management Statement

The company reported no exceptional or extraordinary items during the period, indicating that the financial results reflect the normal course of business operations.

K. Chandramouli, Whole Time Director and Company Secretary of Hybrid Financial Services Limited, signed off on these results, which were filed with the stock exchanges in compliance with SEBI regulations.

Investors and stakeholders can access the full format of the unaudited financial results on the websites of BSE ( www.bseindia.com ) and NSE ( www.nseindia.com ) for a more comprehensive view of the company's financial position and performance.