Yaari Digital Integrated Services , formerly known as Indiabulls Limited, has announced its financial results for the quarter ended September 30, 2025, alongside significant corporate restructuring and leadership changes.

Financial Performance

The company reported a consolidated net profit of ₹75.31 crore for Q2 FY26, compared to a loss of ₹13.39 crore in the same quarter last year. Total revenue from operations increased to ₹236.27 crore from ₹114.89 crore year-over-year.

Key financial highlights for Q2 FY26:

The company's performance showed significant improvement, particularly in net gains on fair value changes, which rose to ₹140.38 crore from ₹1.70 crore in the previous year.

Corporate Restructuring

Yaari Digital Integrated Services completed a major corporate restructuring through a Composite Scheme of Arrangement, which became effective on October 14, 2025, with an appointed date of April 1, 2023. The scheme involved the merger of multiple entities, including Dhani Services Limited and other participating companies.

Leadership Changes

Following the restructuring, the company announced several key management changes:

1. Gurbans Singh appointed as Executive Chairman
2. Divyesh B. Shah appointed as Executive Director & CEO
3. Three new independent directors appointed: Dr. Prabhat Kumar, Mr. Rajinder Singh Nandal, and Brig. Labh Singh Sitara (Retd.)
4. Rajeev Lochan Agrawal appointed as Chief Financial Officer
5. Ram Mehar appointed as Company Secretary & Compliance Officer

Share Capital and ESOP Changes

The company is in the process of issuing and allotting fully paid-up equity shares as per the approved share swap ratio. This includes:

• 1,92,43,01,572 equity shares to shareholders of Amalgamating Company 1
• 21,81,70,697 equity shares to shareholders of Amalgamating Company 2
• 8,14,67,610 equity shares to shareholders of the Demerged Company

Additionally, the company will issue fresh employee stock options to eligible transferred employees, replacing the ESOPs of merged entities.

Outlook

The corporate restructuring and leadership changes mark a significant transformation for Yaari Digital Integrated Services. The improved financial performance in Q2 FY26 suggests that the company may be positioned for growth. However, the full impact of these changes on the company's long-term performance remains to be seen.

The Sameer Gehlaut group has significantly increased its stake in Indiabulls Limited (formerly Yaari Digital Integrated Services Limited) following a merger scheme. The group's combined shareholding has risen from 27.46% to 32.84%, marking a notable change in the company's ownership structure.

Key Details of the Stake Increase

The increase in shareholding occurred through the allotment of equity shares on November 4, 2025, as part of a merger involving Dhani Services Limited and Indiabulls Enterprises Limited with Indiabulls Limited. This merger scheme was approved by the National Company Law Tribunal on August 29, 2025, and became effective on October 14, 2025.

Impact on Share Capital

The merger has substantially impacted Indiabulls Limited's share capital structure:

Breakdown of Shareholding

The Sameer Gehlaut group's increased stake is held across multiple entities:

Regulatory Compliance

In compliance with regulatory requirements, disclosures were made to the BSE Limited and the National Stock Exchange of India Limited under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Market Implications

This significant increase in promoter group shareholding may have implications for the company's governance and future strategic decisions. Investors and market analysts will likely be watching closely to see how this change in ownership structure might influence Indiabulls Limited's business direction and performance in the coming months.