Shivansh Finserve Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, following approval by the Board of Directors in their meeting held on February 14, 2026. The results were prepared in accordance with Indian Accounting Standards and reviewed by the company's statutory auditors.

Quarterly Financial Performance

For the third quarter of FY26, Shivansh Finserve reported mixed financial performance with revenue operations showing significant variation compared to previous quarters.

The company recorded no revenue from operations during Q3FY26, similar to Q3FY25, while the previous quarter Q2FY26 had shown substantial operational revenue of Rs 260.31 lakhs.

Nine-Month Performance Analysis

The nine-month period ended December 31, 2025, demonstrated a remarkable turnaround in the company's financial position compared to the corresponding period in the previous year.

Expense Structure and Operational Metrics

The company's expense profile for Q3FY26 totaled Rs 9.86 lakhs, significantly lower than Q2FY26's Rs 205.51 lakhs but comparable to Q3FY25's Rs 21.76 lakhs. Key expense components included:

• Employee benefits expense: Rs 3.80 lakhs
• Finance costs: Rs 1.51 lakhs
• Legal & Professional expenses: Rs 3.30 lakhs
• Other expenses: Rs 0.64 lakhs
• Depreciation and amortisation: Rs 0.61 lakhs

Corporate Governance and Compliance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors. The company's statutory auditors, HSK & Co LLP, conducted a limited review of the unaudited financial results and provided their independent review report. The company maintains a paid-up equity share capital of Rs 624.00 lakhs with face value of Rs 10 per share, which remained consistent across all reported periods.

Business Segment and Operations

Shivansh Finserve operates in a single business segment in line with Indian Accounting Standard 108 on Operating Segments. The company, formerly known as Mansarovar Financial Services Limited, is headquartered in Ahmedabad, Gujarat, and operates in the financial services sector.

Shivansh Finserve Ltd has received a disclosure from Sanjeev Lunkad regarding substantial acquisition of shares under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure pertains to the acquisition of 42,110 equity shares through open market purchases, which resulted in crossing the 7% shareholding threshold.

Acquisition Details

The acquisition involved Sanjeev Lunkad as the primary acquirer, working in concert with three other individuals. The group's total holding increased from 415,465 shares to 457,575 shares following this transaction.

Persons Acting in Concert

The acquisition group consists of four individuals working together as persons acting in concert:

• Sanjeev Lunkad (Primary Acquirer) - PAN: AAKPL1075A
• Sneha Lunkad (PAC) - PAN: AAZPL0120D
• Rushank SS Lunkad (PAC) - PAN: BLPPL6871F
• Riddhi Lunkad (PAC) - PAN: AKAPL0872H

The group does not belong to the promoter or promoter group category of Shivansh Finserve Ltd.

Company Information

Shivansh Finserve Ltd maintains its registered office at 22, Harsiddh Complex, First Floor, Ashram Road, Opp. Kalupur Commercial Bank, Income Tax, Ahmedabad, Gujarat-380014. The company's shares are listed on BSE Limited.

Regulatory Compliance

The disclosure was submitted on February 9, 2026, following the crossing of the 7% threshold on February 6, 2026. The acquirer has fulfilled the mandatory disclosure requirements under SEBI regulations and has communicated the same to the company secretary, stock exchange, and registrar transfer agent Purva Sharegistry (India) Pvt. Ltd.

The acquisition represents a straightforward equity purchase through open market transactions, with no involvement of warrants, convertible securities, or any encumbrances such as pledges or liens.