Keynote Financial Services Limited has announced the approval of a scheme of amalgamation involving an associate company of its material subsidiary. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Amalgamation Details

The approved amalgamation involves Maple Leaf Trading and Services Limited, an associate company of Keynote Capital Limited (material subsidiary), with Bela Properties Private Limited. The Regional Director Eastern Region has granted approval for this corporate restructuring initiative.

Regulatory Compliance and Next Steps

The Board of Maple Leaf Trading and Services Limited has taken the approval on record during its board meeting. The company is currently in the process of filing INC 28 to give legal effect to the amalgamation scheme.

The disclosure was made in accordance with SEBI Circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July, 2023, and follows the company's earlier intimations regarding the scheme of amalgamation.

Corporate Structure Impact

The company has clarified that neither Keynote Capital Limited (the material subsidiary) nor its associate Maple Leaf Trading and Services Limited are listed on any stock exchanges. This amalgamation represents a strategic corporate restructuring within the group's unlisted entities.

The notification was signed by Simran Kashela, Company Secretary & Compliance Officer, and communicated to both BSE Limited and National Stock Exchange of India Limited on 23rd February 2026.

Keynote Financial Services Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, showcasing mixed performance across its business segments. The Mumbai-based financial services company's Board of Directors approved these results at their meeting held on February 12, 2026.

Consolidated Financial Performance

The company's consolidated operations demonstrated resilience with notable performance metrics for the reporting period:

For the nine-month period ended December 31, 2025, consolidated performance showed strong growth:

Standalone Results Analysis

The standalone financial results revealed contrasting trends compared to consolidated performance. Total standalone income for Q3FY26 reached ₹270.61 lakhs versus ₹84.77 lakhs in Q3FY25, representing significant growth. However, net profit stood at ₹16.17 lakhs for the quarter compared to a loss of ₹80.32 lakhs in the corresponding previous period.

Segment-wise Performance

The consolidated segment results highlight the diversified nature of Keynote's business operations across multiple verticals:

Advisory Services: Generated revenue of ₹644.99 lakhs in Q3FY26 compared to ₹352.53 lakhs in Q3FY25, showing substantial growth of 83.0%. The segment result before exceptional items was ₹365.86 lakhs versus ₹168.61 lakhs in the previous year.

Broking & Related Activities: Revenue declined to ₹89.04 lakhs from ₹120.41 lakhs year-on-year. However, segment results remained positive at ₹77.94 lakhs compared to ₹103.81 lakhs in Q3FY25.

Trading in Securities: This segment showed volatility with revenue of ₹489.31 lakhs in Q3FY26 versus ₹167.16 lakhs in Q3FY25, contributing significantly to overall performance.

Exceptional Items and Regulatory Impact

The company disclosed exceptional items worth ₹79.10 lakhs on a consolidated basis and ₹35.44 lakhs on a standalone basis for Q3FY26. These charges relate to the implementation of four new Labour Codes by the Government of India, including the Code on Wages, 2019, effective from November 21, 2025. The company assessed the incremental impact through actuarial valuation and expects further clarity once related rules are notified.

Capital Structure and Share Information

Keynote Financial Services maintains a paid-up equity share capital of ₹556.66 lakhs with a face value of ₹10 per share. The earnings per share for the nine-month period stood at ₹28.99 on a consolidated basis, reflecting the company's ability to generate returns for shareholders despite market challenges.