Vikalp Securities has reported a net loss of Rs 0.96 lakhs for the quarter ended September 30, 2025, according to the company's latest financial results. The microcap firm, which operates in the financial services sector, faced challenges during the period, with total income falling short of expenses.

Financial Performance

For the quarter under review, Vikalp Securities recorded a total income of Rs 0.26 lakhs, which was significantly outweighed by total expenses of Rs 1.25 lakhs. This resulted in a loss before tax of Rs 1.02 lakhs for the period.

The company's financial performance can be summarized in the following table:

Regulatory Compliance Issues

In a concerning development, the company's auditors have highlighted a significant regulatory compliance issue. According to the auditors' report, Vikalp Securities has deployed funds for unsecured loans without obtaining the required registration from the Reserve Bank of India (RBI) under section 45-IA of the RBI Act.

This observation raises questions about the company's compliance with regulatory norms and may potentially expose it to regulatory scrutiny or penalties.

Balance Sheet Overview

As of September 30, 2025, Vikalp Securities reported:

• Total Assets: Rs 256.67 lakhs
• Total Equity: Rs 234.61 lakhs
• Current Liabilities: Rs 22.06 lakhs

The company maintains a paid-up equity share capital of Rs 305.19 lakhs, with a face value of Rs 10 per share.

Management Commentary

The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their meeting held on November 13, 2025. The company's management has not provided any specific commentary on the quarterly performance or the auditors' observations in the available documents.

Investor Considerations

While the company continues to operate in the securities market, the reported loss and the auditors' emphasis on regulatory non-compliance may be areas of concern for stakeholders. Investors and market participants may need to closely monitor the company's steps to address these issues and its plans for improving financial performance in the coming quarters.

The unaudited financial results have been prepared in accordance with the applicable Indian Accounting Standards (IND AS) and other recognized accounting practices and policies.

Investors are advised to consider the company's financial position and regulatory compliance status when making investment decisions.

Vikalp Securities Limited has announced significant changes to its leadership team, marking a new chapter in the company's strategic direction. The board of directors, in a meeting held on July 25, 2025, approved two key appointments that are set to steer the company's future course.

New Managing Director

Mr. Dipakkumar Ganeshbhai Patel, previously serving as a Non-Executive Director, has been appointed as the Managing Director of Vikalp Securities. This appointment, effective July 25, 2025, comes with a five-year term, subject to shareholder approval at the next general meeting.

Mr. Patel's elevation to this crucial role signifies the board's confidence in his leadership abilities and vision for the company. It's worth noting that Mr. Patel has a familial connection within the company's leadership, as he is married to Kamuben Dipakkumar Patel, who currently serves as a Director of Vikalp Securities.

Chief Financial Officer Appointment

In another strategic move, the company has brought on board Mr. Rajesh B. Kshatriya as the new Chief Financial Officer (CFO), also effective from July 25, 2025. Mr. Kshatriya brings a wealth of experience to this role, with his appointment aimed at strengthening the company's financial leadership.

Mr. Kshatriya's educational background includes an M.Com degree from Gujarat University. His professional experience is both extensive and diverse, spanning over two decades across different industries:

• Over 23 years of experience in the aluminum industry, specializing in project planning, handling, and management.
• More than 25 years of experience in the dyes and chemicals sector.

This multi-faceted perspective is expected to add significant value to his role as CFO.

Board Approval and Compliance

Both appointments were made based on recommendations from the Nomination and Remuneration Committee, underscoring the company's commitment to proper corporate governance practices. The board meeting that confirmed these appointments:

• Commenced at: 6:30 PM
• Concluded at: 7:00 PM

These leadership changes have been duly reported to the BSE Limited, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

As Vikalp Securities Limited embarks on this new phase with fresh leadership at the helm, stakeholders will be keenly watching how these appointments influence the company's strategic direction and performance in the coming years.