SMIFS Capital Markets Limited (formerly known as SMIFS Capital Markets Limited) has announced several key decisions following its Board of Directors meeting on November 4, 2025. The company has made strategic moves in management, financial reporting, and stock exchange listing.

Key Developments

New Company Secretary Appointment

SMIFS Capital Markets has appointed Ms. Sanjana Gupta as the new Company Secretary cum Compliance Officer, effective November 4, 2025. Ms. Gupta brings valuable experience to the role, having previously served as Company Secretary at SMIFS Capital Services Limited, a wholly owned subsidiary of the company.

Financial Results Approval

The Board has approved the unaudited financial results for the quarter ended September 30, 2025. While specific financial figures were not disclosed, this approval indicates the company's commitment to timely financial reporting.

Proposed Delisting from Calcutta Stock Exchange

The company has proposed the voluntary delisting of its equity shares from The Calcutta Stock Exchange Limited (CSE). This decision is subject to necessary approvals under SEBI regulations. Importantly, SMIFS Capital Markets will continue to remain listed on BSE Limited, which offers nationwide trading terminals.

Details of New Company Secretary

Implications and Outlook

The appointment of Ms. Gupta as Company Secretary cum Compliance Officer strengthens SMIFS Capital Markets' corporate governance structure. Her experience within the company's subsidiary suggests a familiarity with the organization's operations.

The proposal to delist from the Calcutta Stock Exchange, while maintaining listing on BSE Limited, may streamline the company's compliance requirements and potentially reduce associated costs. This move aligns with the trend of companies consolidating their presence on major national exchanges.

The approval of the Q2 financial results demonstrates the company's adherence to regulatory requirements and commitment to transparency. Investors and stakeholders may look forward to the detailed financial figures to assess the company's performance in the quarter ended September 30, 2025.

As these developments unfold, market participants will be watching closely to see how they impact SMIFS Capital Markets' operational efficiency and market presence in the coming months.

SMIFS Capital Markets Limited (formerly Nexome Capital Markets Limited) has released its financial results for the quarter ended September 30, 2025, revealing significant impacts on its loan and investment portfolio, along with key organizational changes.

Comprehensive Portfolio Review

The company conducted a thorough review of its loan and investment holdings during the quarter. This assessment led to two major financial adjustments:

1. Expected Credit Loss: SMIFS Capital Markets recognized an expected credit loss on a loan extended to an undisclosed party.
2. Fair Valuation Loss: Based on an independent valuer's report, the company recorded a fair valuation loss on its investment portfolio.

While specific figures for these losses were not disclosed, the company stated that necessary provisions have been made in the financial statements in accordance with prudent accounting practices.

Financial Performance

Despite these challenges, SMIFS Capital Markets showed resilience in its financial performance:

The company's net profit after tax for Q2 2025 stood at ₹133.43 lakhs, an increase from ₹25.80 lakhs in the same quarter of the previous year. For the half-year ended September 30, 2025, net profit reached ₹261.38 lakhs, up from ₹62.69 lakhs in the corresponding period of 2024.

Segment Performance

SMIFS Capital Markets operates in two main segments:

1. Capital Market Operations: Generated revenue of ₹255.16 lakhs in H1 2025.
2. Investment Banking Operations: Contributed ₹2,238.34 lakhs to the revenue in H1 2025.

Strategic Developments

The company incorporated a wholly-owned subsidiary, Nexome Wealth Management Limited, on July 22, 2025. This new entity will focus on providing corporate advisory, financial consultancy services, wealth management, investment advisory, and project syndication services.

Management Changes

The company has appointed Ms. Sanjana Gupta as Company Secretary cum Compliance Officer, effective November 4, 2025. Ms. Gupta is an associate member of the Institute of Company Secretaries of India (ICSI) with qualifications in commerce and law. She brings experience from her previous role as Company Secretary at the subsidiary Nexome Capital Services Limited for two years.

Management's Stance

While acknowledging the impact of the credit loss and investment valuation adjustments, the company's management emphasized their commitment to recovering the outstanding loan amount. They stated, "The Company remains committed to taking all appropriate steps to recover the outstanding loan amount."

Looking Ahead

As SMIFS Capital Markets navigates through these financial challenges, the diversification of its business through the new wealth management subsidiary may provide additional revenue streams and risk mitigation. The appointment of Ms. Gupta as Company Secretary cum Compliance Officer is expected to strengthen the company's corporate governance framework.

Investors and stakeholders will likely monitor the company's efforts to recover the loan, its overall portfolio management strategies, and the performance of its new subsidiary in the coming quarters.

The company's ability to maintain profitability despite these setbacks demonstrates its resilience, but the long-term implications of the credit loss and investment valuation adjustments will be crucial factors in assessing SMIFS Capital Markets' financial health and growth prospects.