The call ran from 5:00 PM to 5:01 PM IST (1 min).

Key takeaways

Q2 FY27 revenue INR75.6 Cr (-5% YoY), PAT INR7.1 Cr (vs 12.8). H1 revenue +11.4% to INR113.1 Cr, PAT +43.2% to INR19.9 Cr. Strategy: SME IPO core, mainboard expansion, recurring advisory.

Highlights
Revenue growth	H1 +11.4% YoY; Q2 -5% YoY
Margins	Q2 EBITDA margin 12.70% vs 39.82%; mgmt disputes decline
Order book	Underwriting mandate Army Infotech; Taurian MPS preferential issue
Demand visibility	Four approvals in hand; listings hoped this or next quarter
Management confidence	Confident on long-term capital markets; no numeric targets

Growth

Q2 EBITDA INR9.6 Cr vs 31.7 Cr (Q2); margin 12.70% vs 39.82%. H1 EBITDA INR26.6 Cr vs 33.5 Cr.

Outlook

No numeric guidance. Targets: INR10-50 lakh monthly advisory retainers; four approvals may list this or next quarter.

Risks

Only one listing in Q2 cut turnover; SME IPO fundraising down ~11%; geopolitical uncertainty and investor selectivity cited.

Summary by ALFA Finder, written with AI assistance from the earnings call transcript the company filed, published 11 Nov 2026, 1:36 PM IST. Open it on ALFA Filings ›