Keynote Financial Services Limited has received formal approval from both BSE Limited and National Stock Exchange of India Limited for the extinguishment and cancellation of 14,51,702 equity shares of ₹10.00 each. The approval was communicated through official letters dated January 19, 2026, with the cancellation becoming effective from January 20, 2026.

Regulatory Approvals and Timeline

The share cancellation is being implemented pursuant to a Scheme of Selective Reduction of Capital between the company and its shareholders and creditors. This scheme operates under Section 66 read with Section 52 and other applicable provisions of the Companies Act, 2013, along with the National Company Law Tribunal (Procedure for Reduction of Share Capital of Company) Rules, 2016.

The Hon'ble NCLT Mumbai Bench had originally approved the selective capital reduction scheme on January 09, 2025, providing the legal framework for the share extinguishment process.

Exchange Communications

BSE Limited, through its letter reference DCS/AMAL/NB/4011/2025-26, confirmed that all market participants are allowed to trade in the company's securities effective from January 20, 2026. The exchange also issued Notice No. 20260119-14 dated January 19, 2026, to inform all market participants about the development.

Similarly, NSE confirmed that the extinguishment and cancellation of the equity shares has been recorded in the exchange's systems with effect from January 20, 2026. The NSE communication, referenced as NSE/LIST/C/2026/0047, provided detailed confirmation of the share cancellation process.

Share Distribution Details

The cancelled shares were distributed across multiple distinctive number ranges, with the largest blocks comprising 3,80,000 shares (distinctive numbers 1121021 to 1501020) and 2,50,000 shares (distinctive numbers 1501021 to 1751020). Other significant blocks included 2,10,000 shares and 2,00,000 shares in different ranges.

Compliance and Documentation

The company has fulfilled all requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure includes comprehensive details as mandated by SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The communication was signed by Vineet Suchanti, Managing Director (DIN-00004031), on January 20, 2026. Both depositories, National Securities Depository Limited and Central Depository Services Limited, have been notified of the share cancellation to ensure proper record maintenance across all market infrastructure institutions.

Keynote Financial Services Limited has reported a significant shift in its financial performance for the quarter ended September 30, 2025. The company's board approved the unaudited financial results on November 14, 2025, revealing a complex financial picture marked by revenue growth but a notable decline in profitability.

Financial Highlights

• Total Income: Increased to Rs 114.20 crores from Rs 80.90 crores in the same period last year
• Net Loss: Rs 16.90 crores, compared to a profit of Rs 21.00 crores in the previous year

Segment Performance

The company experienced deteriorated profitability across its various business segments:

• Advisory services
• Broking
• Trading
• Investment activities

Board Meeting Details

The Board of Directors convened on November 14, 2025, to review and approve the financial results:

• Meeting commenced at 12:40 p.m.
• Concluded at 3:30 p.m.

Audit Committee Review

Prior to the board meeting, the Audit Committee reviewed the unaudited financial results for the quarter and half-year ended September 30, 2025.

Subsidiary and Associate Performance

The consolidated financial results include the performance of Keynote Financial Services Limited's subsidiaries and associate:

The interim financial results of the two subsidiaries reflect:

• Total assets: Rs 10,761.04 lakhs as of September 30, 2025
• Total revenue: Rs (57.80) lakhs for the quarter and Rs 919.07 lakhs for the half-year
• Total Comprehensive Income: Rs (57.16) lakhs for the quarter and Rs 317.00 lakhs for the half-year

The associate company, Maple Leaf Trading and Services Limited, contributed a share of net profit (before consolidation adjustment) of Rs 579.88 lakhs for the quarter and half-year ended September 30, 2025.

Regulatory Compliance

The company has submitted these results in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Independent auditors have conducted a review of both standalone and consolidated financial results, ensuring adherence to Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34).

Conclusion

While Keynote Financial Services has shown robust revenue growth, the shift from profit to loss indicates significant challenges in maintaining profitability across its diverse business segments. Investors and stakeholders may need to closely monitor the company's strategies for improving bottom-line performance in the coming quarters.