KLG Capital Services Limited has announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results at their meeting held on February 12, 2026, following a limited review by statutory auditors Bharat Shah & Associates.

Financial Performance Overview

The company's financial performance for Q3 FY26 showed mixed results compared to the corresponding quarter of the previous year. While the quarterly loss marginally improved, the nine-month performance indicated significant challenges.

Nine-Month Performance Analysis

The nine-month results revealed a stark contrast to the previous year's performance, with the company moving from profitability to significant losses.

Revenue and Expense Breakdown

The company's revenue structure showed a complete absence of interest income during Q3 FY26, compared to ₹18.03 lacs in the corresponding quarter of the previous year. Other income remained minimal at ₹0.02 lacs. On the expense side, employee benefit expenses decreased to ₹2.34 lacs from ₹2.80 lacs year-on-year. However, the nine-month period was significantly impacted by impairment on financial assets amounting to ₹1,057.48 lacs, which was the primary driver of the substantial loss.

Consolidated Results

The consolidated financial results, which include the subsidiary KLG Stock Brokers Private Limited, mirrored the standalone performance. The consolidated figures showed identical losses and income patterns, indicating that the subsidiary's contribution was minimal during the reporting period.

Corporate Governance and Compliance

The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors. The statutory auditors conducted a limited review as required under Regulation 33 of SEBI (LODR) Regulations, 2015. The company maintains its paid-up equity share capital at ₹320.24 lacs with a face value of ₹10 per share. The company operates in a single segment, and the results reflect this focused business approach.

The Independent Directors Committee (IDC) of Harmony Capital Services Limited has formally recommended the open offer made by Mr. Rajesh Ghosh and Dorni Vinimoy Private Limited, stating that the proposed acquisition terms are fair and reasonable for shareholders. The recommendation was submitted to BSE Limited on February 09, 2026, following the committee's unanimous approval.

Open Offer Details

The open offer is being conducted under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The acquirers seek to purchase equity shares from public shareholders of the target company through a structured acquisition process.

Independent Directors Committee Composition

The IDC consists of two independent and non-executive directors who have no shareholding or contractual relationships with the target company. Both committee members confirmed they have not traded any equity shares or securities of Harmony Capital Services Limited during the 12 months prior to the public announcement.

Committee's Assessment and Recommendation

The IDC reviewed multiple offer documents including the Public Announcement dated November 20, 2025, Detailed Public Statement published November 27, 2025, Draft Letter of Offer dated December 04, 2025, and Letter of Offer dated January 29, 2026. The committee determined that the offer price aligns with Regulation 8(2) of SEBI SAST Regulations.

Key factors considered in the recommendation include:

• The company's equity shares are infrequently traded on BSE within the meaning of Regulation 2(1)(j) of SEBI SAST Regulations
• The offer price of ₹10 per equity share is justified under the parameters prescribed in Regulations 8(2) of SEBI SAST Regulations
• The offer complies with provisions of Regulations 3(1) and 4 read with Regulations 13, 14, and 15(1) of SEBI SAST Regulations

Company Information

Harmony Capital Services Limited operates with Corporate Identification Number L67120MH1994PLC288180. The company's registered office is located at WeWork Lightbridge, 6th Floor, Corporate No. 137, Hiranandani Business Park, Sakhi Vihar Road, Tunga Village, Chandivali, Mumbai, Maharashtra, India, 400072.

Transaction Management

Bonanza Portfolio Limited serves as the Manager to the Offer, with CIN U65991DL1993PLC052280. The manager's office is situated at Bonanza House, Plot No. M-2, Cama Industrial Estate, Walbhat Road, Behind The Hub, Goregaon (East), Mumbai - 400 063. The IDC recommendation has been published in Financial Express (English daily), Jansatta (Hindi daily), and Mumbai Lakshadweep (Marathi Daily) newspapers as required under regulatory provisions.