NDA Securities Limited announced its unaudited financial results for the quarter ended December 31, 2025, revealing a challenging period marked by significant losses and revenue decline. The Board of Directors approved these results in a meeting held on January 20, 2026, at the company's registered office.

Financial Performance Overview

The company's financial performance showed a stark contrast compared to the previous year, with key metrics reflecting operational challenges:

Revenue Breakdown and Analysis

The company's revenue streams experienced significant pressure during the quarter. Brokerage and commission income, the primary revenue source, declined to ₹101.72 crores from ₹145.83 crores in Q3 FY25, representing a 30.25% decrease. Interest income also fell to ₹13.64 crores from ₹19.31 crores year-on-year. Other investment income remained minimal at ₹5.10 crores compared to ₹0.04 crores in the previous year.

Expense Structure and Cost Management

Total expenses increased marginally to ₹157.62 crores from ₹147.46 crores in Q3 FY25. The expense breakdown reveals:

Nine-Month Performance

For the nine-month period ended December 31, 2025, NDA Securities reported a net loss of ₹46.46 crores compared to a profit of ₹64.95 crores in the corresponding period of FY25. Total income for the nine-month period stood at ₹391.27 crores, down from ₹547.59 crores in the previous year.

Consolidated Results

The consolidated financial results, which include subsidiaries NDA Capital Advisors Private Limited and NDA Research and Technologies Private Limited, showed a net loss of ₹52.38 crores for Q3 FY26 compared to a profit of ₹12.07 crores in Q3 FY25. The consolidated earnings per share stood at ₹(0.88) for the quarter.

Impact of LIC De-empanelment

According to the company's disclosure, the quarterly loss was primarily attributed to de-empanelment by Life Insurance Corporation of India (LIC), a major domestic institutional investor, following a change in management control. The management stated it is actively pursuing re-empanelment with LIC at the earliest to restore this significant revenue stream.

Balance Sheet Position

As of December 31, 2025, the company maintained total assets of ₹1,881.67 crores on a standalone basis, with cash and cash equivalents at ₹11.63 crores. The equity base remained stable at ₹1,234.62 crores, supported by paid-up equity share capital of ₹594.84 crores comprising shares with a face value of ₹10 each.

NDA Securities Limited successfully concluded its 1st Extraordinary General Meeting (EGM) of FY 2025-26 on January 08, 2026, with all four proposed resolutions receiving overwhelming shareholder approval. The meeting was conducted at the company's registered office in Delhi, with shareholders participating through remote e-voting and video conferencing facilities.

Meeting Participation and Voting Process

The EGM witnessed significant shareholder engagement despite the virtual format. Key participation details are outlined below:

The remote e-voting process commenced on January 05, 2026, at 9:00 AM and concluded on January 07, 2026, at 5:00 PM. Shareholders holding equity shares as of the cut-off date of January 01, 2026, were eligible to participate in the voting process.

Resolution Results and Outcomes

All four resolutions presented at the EGM received strong shareholder support, with voting results demonstrating clear mandate for the proposed corporate actions:

Key Appointments and Corporate Changes

The meeting approved two significant leadership appointments:

• Ms. Kajal Goel (DIN: 10634514) was regularized as Managing Director of the company through an ordinary resolution
• Mr. Arun Kumar Mistry (DIN: 08400132) was regularized as Whole Time Director through an ordinary resolution

Additionally, shareholders approved two special resolutions for corporate restructuring:

• Increase in authorized share capital with corresponding alteration of Capital Clause V in the Memorandum of Association
• Amendment to Object Clause III of the Memorandum of Association to expand business objects

Scrutinizer Report and Compliance

Surrinder Kishore Kapahi of Kapahi and Associates, serving as the appointed scrutinizer, confirmed that all resolutions met the requisite majority requirements. The ordinary resolutions received more votes in favour than against, while the special resolutions secured more than three times the votes in favour compared to those against.

The scrutinizer's report, submitted on January 09, 2026, validated the voting process conducted through National Securities Depository Limited (NSDL) platform. The e-voting results were unblocked on January 08, 2026, at 5:00 PM in the presence of independent witnesses Ms. Vineeta Gautam and Mr. Jitesh Sharma.

Regulatory Compliance

The voting results were submitted to BSE Limited under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Shalini Chauhan (ACS-71998) filed the comprehensive report on January 09, 2026, ensuring full regulatory compliance for the listed entity with BSE stock code 511535.