V.B. Desai Financial Services Limited has formally responded to a surveillance inquiry from BSE Limited regarding recent price movements in its shares. The company submitted its clarification on February 17, 2026, addressing concerns raised by the stock exchange's surveillance department.

BSE Surveillance Inquiry Details

The inquiry originated from BSE's surveillance department through email reference L/SURV/ONL/PV/AJ/2025-2026/3373 dated February 16, 2026. The exchange sought clarification regarding unusual price movements observed in the company's shares trading under scrip code 511110.

Company's Official Response

In its response to BSE, V.B. Desai Financial Services Limited stated that it currently possesses no material information or events that could be considered significant and price-sensitive. The company emphasized its commitment to regulatory compliance and transparency in market communications.

The response was signed by Pradip R. Shroff, Managing Director (DIN: 00286291), who confirmed that the company maintains strict adherence to disclosure requirements. The company operates as a Category I Merchant Banker under SEBI Registration Number INM 000002731.

Regulatory Compliance Statement

V.B. Desai Financial Services Limited reaffirmed its compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company assured BSE that it will continue to inform the stock exchange promptly upon occurrence of any material information as mandated under the regulations.

The company requested BSE to acknowledge receipt of the clarification and maintain the response on record for future reference.

V.B. Desai Financial Services Limited has delivered robust financial performance for the third quarter of FY26, reporting a significant 53.3% year-on-year increase in net profit to ₹22.15 lakhs. The Category I Merchant Banker, registered with SEBI under registration number INM 000002731, announced these results following a Board meeting held on 5th February 2026.

Strong Quarterly Performance

The company's financial metrics for the quarter ended 31st December 2025 demonstrate solid growth across key parameters. Total income for the quarter reached ₹84.53 lakhs, representing a 13.8% increase from ₹74.31 lakhs in the corresponding quarter of the previous year.

Exceptional Nine-Month Results

The company's nine-month performance has been particularly impressive, with net profit surging 83.0% to ₹66.31 lakhs compared to ₹36.24 lakhs in the corresponding period last year. Revenue from operations for the nine-month period increased 4.3% to ₹221.43 lakhs from ₹212.25 lakhs.

Operational Efficiency and Cost Management

The company maintained effective cost control during the quarter, with total expenses decreasing to ₹54.36 lakhs from ₹57.82 lakhs in Q3FY25. Employee benefit expenses remained relatively stable at ₹14.49 lakhs compared to ₹13.87 lakhs in the previous year. Other expenses decreased to ₹39.73 lakhs from ₹43.82 lakhs, contributing to improved profitability.

Earnings Per Share and Capital Structure

Earnings per share for the quarter stood at ₹0.49, up from ₹0.32 in Q3FY25. For the nine-month period, EPS increased significantly to ₹1.47 from ₹0.80 in the corresponding period last year. The company's paid-up equity share capital remained unchanged at ₹453.81 lakhs, with a face value of ₹10 per share.

Regulatory Compliance and Audit Opinion

The unaudited standalone financial results were prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013. N.S. Shetty & Co., Chartered Accountants, provided an unmodified opinion on the financial results, confirming compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting commenced at 11:30 AM and concluded at 12:10 PM, with Managing Director Pradip R. Shroff signing off on the results.