Shardul Securities Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, presenting a mixed performance across different operational metrics. The Mumbai-based Non-Banking Financial Company (NBFC) operates primarily in holding, investing, and financing activities with a focus on earning income through dividends, interest, and gains from investments.

Standalone Financial Performance

The company's standalone operations showed contrasting results between quarterly and nine-month periods. For Q3 FY26, the company reported negative revenue from operations, primarily driven by fair value changes in investments.

The revenue composition included interest income of ₹1.14 lakhs, dividend income of ₹23.76 lakhs, and rent income of ₹34.80 lakhs for the quarter. However, net loss on fair value changes amounted to ₹2,083.73 lakhs, significantly impacting overall revenue performance.

Consolidated Financial Results

The consolidated results, which include the holding company and its two wholly owned subsidiaries - Shriyam Broking Intermediary Limited and Shriyam Realtors Private Limited, showed similar patterns with some variations due to subsidiary contributions.

The consolidated revenue benefited from additional income streams including fees and commission income (brokerage income) of ₹150.51 lakhs for the quarter and ₹511.80 lakhs for the nine-month period.

Segment Performance Analysis

The company operates across two main segments: Investment and Finance activities, and Other activities (primarily stock and securities broking). The Investment and Finance segment recorded revenue loss of ₹1,461.35 lakhs for Q3 FY26, while Other activities contributed ₹161.91 lakhs during the same period.

Corporate Governance Update

The Board of Directors noted the completion of tenure of Mr. Devesh Vasavada as an Independent Director, effective from the close of business hours on February 4, 2026. Consequently, he will cease to be a member of the Stakeholder Relationship Committee and chairman of the Audit Committee, Nomination and Remuneration Committee, and Corporate Social Responsibility Committee.

Regulatory Compliance

The company has been classified by the Reserve Bank of India as a Base Layer NBFC. The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS 34) and comply with SEBI Listing Regulations. The results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on January 29, 2026.

Shardul Securities Limited has announced a board meeting scheduled for January 29, 2026, to review and approve the company's quarterly financial performance. The meeting will focus on considering unaudited financial results for the third quarter and nine months ended December 31, 2025, in accordance with regulatory requirements.

Board Meeting Details

The company's Board of Directors will convene on Thursday, January 29, 2026, with the primary agenda being the consideration and approval of unaudited financial results. This meeting is being conducted in compliance with Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Trading Window Restrictions

In line with insider trading regulations, Shardul Securities has implemented a trading window closure for designated persons. The trading window for dealing in the company's shares was closed from Thursday, January 1, 2026, and will remain closed until 48 hours after the announcement of financial results for the quarter and nine months ended December 31, 2025.

This restriction applies to all designated persons of the company and their immediate relatives, ensuring compliance with insider trading norms during the period leading up to and immediately following the financial results disclosure.

Regulatory Compliance

The announcement was made through a formal communication to BSE Limited, where the company's shares are listed under security code 512393. The notification was signed by Daya Bhalia, who serves as Director and Company Secretary with DIN 07049483, ensuring proper corporate governance protocols are followed.

The company has requested BSE to take the information on record and ensure appropriate dissemination to market participants, maintaining transparency in its communication with stakeholders and regulatory authorities.