DAM Capital Advisors Limited has announced its financial results for the second quarter of fiscal year 2026, showcasing a remarkable performance with significant growth in revenue and profitability.

Financial Highlights

For the quarter ended September 30, 2025, DAM Capital reported:

The company's total income for Q2 FY26 stood at ₹107.05 crore, marking a substantial increase of 69.1% compared to ₹63.32 crore in the same quarter of the previous year. This growth was primarily driven by a significant rise in fees and commission income, which reached ₹103.43 crore for the quarter.

Segment Performance

DAM Capital's performance was particularly strong in its Investment Banking segment:

• Investment Banking revenue surged to ₹86.14 crore in Q2 FY26, up from ₹37.57 crore in Q2 FY25, representing a 129.3% year-on-year increase.
• The Stock Broking segment, however, saw a decline with revenue of ₹17.34 crore compared to ₹22.96 crore in the same quarter last year.

Operational Highlights

The company executed 12 ECM (Equity Capital Market) transactions in Q2 FY26, raising over ₹13,600 crore. This included 9 IPOs, capturing an 18% market share in terms of the number of IPOs executed during the quarter.

Strong Pipeline

DAM Capital reports a robust pipeline of 21 IPOs, with 3 new IPOs added during Q2 FY26. The company is positioned as the Left Lead Banker for 13 of these IPOs, including 7 as the Sole Banker.

Management Commentary

Dharmesh Mehta, Managing Director & CEO, stated, "Q2 FY26 was a landmark quarter for DAM Capital—our highest-ever performance—as capital market activity rebounded. The revival in India's primary markets has created favorable conditions for issuances. The successful closure of marquee transactions underscores the deep trust our clients place in our expertise and execution capabilities."

Balance Sheet Strength

As of September 30, 2025, DAM Capital maintained a strong balance sheet with:

• Cash and cash equivalents of ₹31.98 crore
• Bank balances other than cash and cash equivalents of ₹204.07 crore
• Total assets of ₹482.96 crore

Outlook

With a strong pipeline of IPOs and multiple QIP and advisory mandates, DAM Capital is well-positioned to capitalize on the opportunities in India's dynamic capital markets. The company's focus remains on strengthening its platform across products and delivering on existing mandates.

DAM Capital Advisors Limited continues to demonstrate its capabilities as a leading Indian investment bank, offering a full spectrum of capital markets services including merchant banking and institutional equities.

Note: All figures are based on consolidated financial results for the quarter ended September 30, 2025.

DAM Capital Advisors Limited , a prominent Indian investment bank, reported a significant decline in its financial performance for the first quarter. The company's profit after tax plummeted by 97.30% quarter-on-quarter and 99.00% year-on-year to INR 0.23 crore, reflecting the challenging market conditions faced by the financial services sector.

Financial Highlights

• Total income stood at INR 31.00 crore, down 15.70% from the previous quarter and 33.30% from the same quarter last year.
• Merchant banking revenue declined to INR 9.00 crore from INR 16.00 crore in the previous quarter.
• Broking services revenue showed a slight increase to INR 18.00 crore.
• The company maintained a strong net cash position of INR 234.00 crore.

Operational Performance

Despite the financial headwinds, DAM Capital Advisors demonstrated resilience in its operational activities:

• Executed a INR 656.00 crore Offer for Sale (OFS) as lead banker.
• Advised on a INR 3,000.00 crore stake sale for Vedanta Limited.
• Completed a INR 150.00 crore buyback deal as sole advisor.
• Added 3 new IPO mandates, bringing the total pipeline to 27 IPOs.
• Expanded institutional equities business to 290 active clients and coverage of 206 stocks across 24 sectors.

Management Commentary

Dharmesh Mehta, Managing Director & CEO of DAM Capital Advisors, attributed the subdued performance to cautious market conditions stemming from geopolitical tensions and macroeconomic uncertainties. He stated, "Q1 began on a very cautious note, with subdued market activity owing to domestic and global geopolitical tensions and macroeconomic uncertainties, which impacted the timelines of our transactions."

Mehta emphasized the company's focus on mandates with strong fundamentals and high-fee potential, expressing optimism about the revival in primary markets for upcoming quarters. He added, "With a strong pipeline of 27 IPO mandates and multiple QIP mandates, we are likely to see a higher volume of executions in the coming quarters, subject to market conditions."

Future Outlook

Despite the challenging quarter, DAM Capital Advisors remains confident in its strategic positioning and India's long-term growth story. The company continues to invest in core talent and capabilities, with its employee strength increasing to 129 from 115 in the same quarter last year.

The management stressed that the company's performance should be evaluated over a longer horizon, given the inherent volatility of capital markets. With a robust deal pipeline and ongoing efforts to strengthen research capabilities and execution platforms, DAM Capital Advisors is poised to capitalize on the anticipated revival in market activity.

As the financial services sector navigates through current market challenges, DAM Capital Advisors' focus on diversification and strategic investments may well position it for a stronger performance in the coming quarters, contingent on improved market conditions.