Greencrest Financial Services Limited has announced its unaudited financial results for the third quarter ended December 31, 2025, showing mixed performance compared to the previous year. The company, formerly known as Marigold Glass Industries Limited, operates in the finance and investments segment.

Financial Performance Overview

The company's financial performance for Q3FY26 showed a decline in both revenue and profitability compared to the corresponding quarter of the previous year.

Revenue Composition and Analysis

The company's revenue streams showed varied performance across different segments. Interest income increased substantially to ₹240.98 lakhs from ₹116.00 lakhs in Q3FY24. However, revenue from sale of shares, which forms a significant portion of total revenue, declined dramatically to ₹1,027.80 lakhs from ₹2,239.98 lakhs in the corresponding quarter of the previous year.

Nine-Month Performance

For the nine-month period ended December 31, 2025, the company reported total revenue of ₹2,370.71 lakhs compared to ₹5,928.86 lakhs in the corresponding period of FY24. Net profit for the nine-month period stood at ₹276.42 lakhs, significantly lower than ₹541.96 lakhs achieved in the same period of the previous year.

Expense Management

Total expenses for Q3FY26 decreased to ₹1,163.47 lakhs from ₹2,107.94 lakhs in Q3FY24. Notable changes in the expense structure included an increase in finance costs to ₹163.25 lakhs from ₹78.50 lakhs. The company also recorded bad debts written off of ₹135.13 lakhs during the quarter, compared to a write-back of ₹0.30 lakhs in the previous year.

Corporate Governance and Compliance

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on February 11, 2026. The meeting commenced at 13:00 hours and concluded at 13:40 hours. The results have been prepared in accordance with Indian Accounting Standards (Ind AS) 34 and have undergone a limited review by the company's statutory auditors, Rajesh Kumar Gokul Chandra & Associates, Chartered Accountants.

The company maintains a paid-up equity share capital of ₹3,655.08 lakhs with a face value of ₹1.00 per share. Other equity stood at ₹2,133.74 lakhs as of December 31, 2025, compared to ₹2,260.68 lakhs in the corresponding period of the previous year.

Greencrest Financial Services Limited , a finance and investment company, has released its unaudited financial results for the second quarter of fiscal year 2026, revealing a decline in both revenue and profit compared to the same period last year.

Key Financial Highlights

Revenue Breakdown

The company's total revenue from operations for Q2 FY26 stood at Rs. 555.38 lakhs, marking a significant decrease of 25.86% from Rs. 749.11 lakhs in the corresponding quarter of the previous year. This decline was primarily driven by:

1. A substantial reduction in revenue from the sale of shares, which fell to Rs. 375.77 lakhs from Rs. 1,203.42 lakhs in Q2 FY25.
2. A decrease in other income, particularly gains from trading in shares and the F&O segment, which dropped to Rs. 1.55 lakhs from Rs. 186.86 lakhs in the same quarter last year.

Profitability

Net profit for the quarter experienced a sharp decline of 40.13%, falling to Rs. 102.57 lakhs compared to Rs. 171.33 lakhs in Q2 FY25. This reduction in profitability can be attributed to the significant decrease in revenue, despite a corresponding reduction in expenses.

Half-Year Performance

For the first half of FY26, Greencrest Financial Services reported:

• Total revenue of Rs. 1,108.09 lakhs, down from Rs. 1,569.80 lakhs in H1 FY25.
• Net profit of Rs. 347.95 lakhs, a substantial decrease from Rs. 1,127.56 lakhs in the previous year's first half.

Balance Sheet Highlights

As of September 30, 2025:

• Cash and cash equivalents stood at Rs. 2.23 lakhs, down from Rs. 3.75 lakhs in the previous year.
• The company's total assets were reported at Rs. 10,787.20 lakhs.
• Total equity amounted to Rs. 5,708.05 lakhs.

Management Commentary

The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors in their meeting held on November 12, 2025. The company operates within a single business segment of Finance & Investments, as per Indian Accounting Standard (IndAS) 108 "Operating Segment".

Auditor's Review

Rajesh Kumar Gokul Chandra & Associates, the company's independent auditors, conducted a limited review of the financial results. They stated that nothing has come to their attention that causes them to believe that the financial statements do not present a true and fair view in accordance with applicable accounting standards and other recognized accounting practices and policies.

Investors and stakeholders should note that while the company has experienced a decline in both revenue and profit, the management continues to navigate the challenges in the finance and investment sector. The coming quarters will be crucial in determining whether Greencrest Financial Services can reverse this downward trend and improve its financial performance.