S.I. Capital & Financial Services Reports Q2 Loss Despite Revenue Growth

SI Capital & Financial Services Limited, a financial services company, has released its unaudited financial results for the quarter ended September 30, 2023, revealing a mixed performance with increased revenue but a net loss.

Key Financial Highlights

Metric	Q2 2023	Q2 2022	YoY Change
Net Profit/(Loss)	(₹10.88)	₹4.54	↓339.65%
Revenue from Operations	₹90.96	₹60.27	↑50.92%
Interest Income	₹90.33	Not specified	-

All figures in lakhs

Quarterly Performance

SI Capital & Financial Services reported a net loss of ₹10.88 lakhs for the quarter ended September 30, 2023, compared to a profit of ₹4.54 lakhs in the same quarter last year. This represents a significant downturn in profitability. However, the company showed improvement from the previous quarter's loss of ₹20.12 lakhs, indicating some recovery in its financial position.

Despite the loss, the company's total revenue from operations increased substantially to ₹90.96 lakhs from ₹60.27 lakhs year-over-year, marking a growth of 50.92%. This increase was primarily driven by higher interest income, which stood at ₹90.33 lakhs for the quarter.

Half-Year Results and Loan Portfolio

For the half-year period, SI Capital & Financial Services achieved a profit of ₹31.00 lakhs, a notable improvement from a loss of ₹24.72 lakhs in the previous year. This turnaround in the half-yearly results suggests that the company's overall performance for the year might be on an upward trajectory despite the quarterly loss.

The company's loan portfolio expanded significantly, reaching ₹4,144.92 lakhs from ₹1,129.32 lakhs, indicating a substantial increase in lending activities.

Operational Costs

Expense Category	Q2 2023	Q2 2022	YoY Change
Finance Costs	₹19.39	₹19.16	↑1.20%
Employee Benefit Expenses	₹25.23	₹17.39	↑45.08%

All figures in lakhs

The company saw a marginal increase in finance costs, rising to ₹19.39 lakhs from ₹19.16 lakhs. Employee benefit expenses rose more significantly to ₹25.23 lakhs from ₹17.39 lakhs, reflecting a 45.08% increase.

Financial Stability and Shareholder Returns

SI Capital & Financial Services maintained a robust capital adequacy ratio of 46.04%, well above regulatory requirements, indicating strong financial stability. The company reported basic earnings per share of ₹0.22 for the quarter.

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 13, 2023. The company has made these results available on its website at www.sicapital.co.in , as per regulatory requirements.

While the quarterly loss is a concern, the increased revenue and improved half-yearly results suggest that SI Capital & Financial Services is navigating through a challenging period with some positive indicators for future growth.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.97%	+15.73%	-15.51%	-35.72%	-39.65%	+54.82%

SI Capital & Financial Services Limited has successfully raised Rs 2.8 crore through the allotment of secured unlisted redeemable non-convertible debentures (NCDs). The company's Debenture Allotment Committee approved this private placement on November 6, 2025, marking a significant move in its fund-raising efforts.

Key Details of the NCD Issuance

Particulars	Details
Number of NCDs	28,000
Face Value per NCD	Rs 1,000
Total Issue Size	Rs 2.80 crore
Interest Rate	12.00% per annum
Interest Payment	Monthly
Tenure	60 months
Maturity Date	November 6, 2030
Security	First charge on company assets

Investor Participation

The private placement attracted four investors:

PIT Solutions Private Limited
AIALPHA Financial Advisory Services Private Limited
Salim KK
Raihana Salim

Interest Payment Schedule

The company has outlined a structured interest payment plan:

First interest payment: From November 6, 2025, to November 25, 2025
Subsequent payments: On the 25th of every month until October 25, 2030
Final interest payment: November 6, 2030

Security and Compliance

The NCDs are secured by a first charge on the company's assets, as referred to in Schedule III of the Companies Act, 2013. This security arrangement has been valued by a Registered Valuer and approved by the Board of Directors or its designated committee.

Regulatory Disclosure

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, SI Capital & Financial Services Limited has duly informed the BSE Limited about this development. The Debenture Allotment Committee meeting, which approved this issuance, was held on November 6, 2025, commencing at 11:03 AM and concluding at 11:10 AM.

This strategic move by SI Capital & Financial Services Limited to raise funds through NCDs demonstrates the company's efforts to strengthen its financial position. The successful private placement indicates investor confidence in the company's financial instruments and future prospects.