Tilak Ventures Ltd (503663)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Tilak Ventures' revenue was ₹6.5 Cr (-19.5% year on year, -53.7% on the previous quarter), and net profit ₹4.3 Cr (+95.3% year on year); the operating margin was 49.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹6.5 | -19.5% | -53.7% |
| Operating profit | ₹3.2 | +73.5% | -53.6% |
| Net profit | ₹4.3 | +95.3% | +12.1% |
| EPS (₹) | 0.03 | +60.0% | +6.7% |
| Operating margin | 49.2% | — | — |
📢 Recent Corporate Announcements
Tilak Ventures Limited has scheduled a Board of Directors meeting on October 27, 2026, to consider and approve a proposed Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013. The details of the arrangement, such as whether it involves a merger, demerger, or capital restructuring, have not yet been disclosed. The company currently has a market capitalization of ₹138 Cr and TTM revenue of ₹22 Cr. The proposed scheme will remain subject to statutory and regulatory approvals following board consideration.
- Board meeting scheduled for October 27, 2026
- Agenda to consider and approve Scheme of Arrangement under Sections 230 to 232 of Companies Act, 2013
- Specific restructuring or transaction terms not disclosed in the intimation
Tilak Ventures Limited has disclosed the voting results of its 45th Annual General Meeting held on September 24, 2026. All five resolutions were passed with overwhelming approval exceeding 99.99% of valid votes cast. Key items approved include adoption of standalone audited financials, reappointment of non-executive director Tanu Agrawal, appointment of Jay Bhatt & Associates as Secretarial Auditor, reappointment of Independent Director Vikash Kulhriya, and approval/amendment of material related party transaction limits.
- All 5 resolutions passed with over 99.99% of total valid votes cast in favour
- Material related party transaction limit approved with 20,02,37,404 votes in favour (99.9965%)
- Financial statements adopted with 37,58,77,454 combined valid votes in favour (99.9986%)
- Reappointment of Independent Director Vikash Kulhriya approved for a second term with 99.9981% favour
Tilak Ventures has entered into a Share Purchase Agreement to acquire 100% shareholding of Tilak Jewels Limited, turning it into a wholly owned subsidiary. The acquisition is an all-cash deal priced at Rs 1 per share, though the total number of shares and aggregate transaction value were not disclosed. Tilak Jewels is a newly incorporated entity (August 1, 2026) engaged in commodity trading and shares common directors with Tilak Ventures, qualifying it as a related party transaction. The company expects the acquisition to close within 15 days.
- Acquisition of 100% equity stake in Tilak Jewels Limited via Share Purchase Agreement
- Purchase price set at Rs 1 per share via cash consideration (total shares not disclosed)
- Target entity was recently incorporated on August 1, 2026, with no past turnover history
- Identified as a related party transaction due to common directors between both entities
- Indicative completion timeline is within 15 days of the agreement
Tilak Ventures Ltd has appointed M/s. Jay Bhatt and Associates as its Secretarial Auditor for the financial year 2025-26. The appointment was approved by the Board of Directors on August 13, 2026, following a recommendation from the Audit Committee. This is a routine regulatory requirement to ensure compliance with corporate laws and SEBI regulations. The company recently expanded its capital base significantly through a Rights Issue of 89.14 crore shares in January 2026, making secretarial oversight relevant for governance.
- Appointment of M/s. Jay Bhatt and Associates as Secretarial Auditor for the financial year 2025-26
- Board meeting held on August 13, 2026, to approve the appointment and Q1 FY27 unaudited results
- The appointed firm is represented by Mr. Jay Bhatt (Membership No. 46916, COP No. 28320)
- The company recently allotted 89,13,93,612 equity shares in January 2026 via a Rights Issue
Tilak Ventures has approved its unaudited standalone financial results for the quarter ended June 30, 2026. This follows a significant capital expansion in January 2026, where the company allotted 89.14 crore shares via a Rights Issue to scale its lending and commodity trading operations. The company reported a TTM revenue of Rs 30.43 crore and a PAT of Rs 9.62 crore for FY26. Investors should focus on how the newly infused capital is impacting interest income and operating margins in a competitive lending environment.
- Board approved unaudited standalone financial results for the first quarter ended June 30, 2026.
- Company previously expanded its capital base by allotting 89,13,93,612 equity shares in January 2026.
- TTM revenue for the preceding period stood at Rs 30.43 crore with an operating margin of 27.7%.
- Promoter holding has remained stable at 61.98% as of the June 2026 quarter.
- The company maintains a debt-free balance sheet with a net worth of Rs 231 crore.
Tilak Ventures approved its unaudited standalone financial results for the quarter ended June 30, 2026, during its board meeting on August 13, 2026. Additionally, the board appointed M/s. Jay Bhatt and Associates as the Secretarial Auditor for the financial year 2025-26. This follows a major capital expansion in January 2026, where the company issued 89.14 crore shares via a rights issue to scale its lending and commodity trading business. Investors should review the detailed Q1 results to assess how this capital is impacting the TTM revenue of ₹30.43 Cr.
- Board approved unaudited standalone financial results for the quarter ended June 30, 2026
- M/s. Jay Bhatt and Associates appointed as Secretarial Auditor for the financial year 2025-26
- The board meeting commenced at 03:30 PM and concluded at 04:30 PM on August 13, 2026
- The company previously allotted 89,13,93,612 equity shares in January 2026 to fund business growth
Tilak Ventures Ltd has postponed its board meeting to approve the unaudited standalone financial results for the quarter ended June 30, 2026. Originally scheduled for August 11, 2026, the meeting will now take place on August 13, 2026. The company stated that the two-day delay is due to additional time required to complete financial reporting. This follows a significant capital expansion in January 2026, where the company allotted over 89 crore shares via a rights issue.
- Board meeting rescheduled from August 11, 2026, to August 13, 2026
- Purpose of the meeting is to approve standalone financial results for the quarter ended June 30, 2026
- Delay attributed to additional time needed for financial reporting completion
- Trading window remains closed for designated persons until 48 hours after the results declaration
- Company previously allotted 89,13,93,612 equity shares in January 2026 to fund growth
Tilak Ventures Ltd has scheduled a board meeting on August 11, 2026, to consider and approve the standalone un-audited financial results for the quarter ended June 30, 2026. This follows a fiscal year (FY26) where the company reported a revenue of ₹30.43 Cr and a net profit of ₹9.62 Cr. Investors will be monitoring if the company can maintain the momentum from the March 2026 quarter, which saw a significant revenue spike to ₹14.02 Cr. The trading window for designated persons remains closed until 48 hours after the results are declared.
- Board meeting scheduled for August 11, 2026, to approve Q1 FY27 results
- Company reported TTM revenue of ₹30.43 Cr as of March 2026
- Follows a massive capital infusion via a rights issue of 89,13,93,612 shares in January 2026
- Trading window closed as per SEBI regulations until 48 hours post-announcement
- March 2026 quarter revenue stood at ₹14.02 Cr, representing nearly 46% of annual revenue
Financial Performance
Revenue Growth by Segment
Total revenue grew by 63.04% YoY, reaching INR 26.06 Cr in FY25 compared to INR 15.99 Cr in FY24. Revenue from contracts with customers (Finance and Commodities Trading) increased by 77.22% to INR 21.18 Cr, while other income grew by 21.07% to INR 4.89 Cr.
Geographic Revenue Split
Not explicitly disclosed in available documents, though operations are primarily managed from Mumbai, Maharashtra.
Profitability Margins
Net Profit Margin compressed from 34.11% in FY24 to 24.06% in FY25. This decline is primarily due to a 150% surge in the purchase of stock-in-trade (INR 18.70 Cr vs INR 7.48 Cr), indicating a shift toward higher-volume, lower-margin commodity trading activities.
EBITDA Margin
Profit Before Tax (PBT) margin stood at 32.68% in FY25, down from 45.69% in FY24. Despite the margin percentage drop, absolute PBT grew by 16.64% YoY to INR 8.52 Cr, driven by the substantial increase in total revenue scale.
Capital Expenditure
The company maintains a light asset model with Property, Plant & Equipment valued at only INR 0.018 Cr (INR 1.84 Lakh) as of March 31, 2025. Most capital is deployed into financial assets rather than physical infrastructure.
Credit Rating & Borrowing
Current borrowings increased by 236.5% to INR 8.00 Cr in FY25 from INR 2.38 Cr in FY24. Finance costs decreased by 61.24% to INR 2.76 Lakh, suggesting the company is utilizing low-cost short-term credit or interest-free advances.
Operational Drivers
Raw Materials
Stock-in-trade for commodities trading (specific commodities not named) represents the primary operational cost, accounting for 71.74% of total revenue in FY25.
Capacity Expansion
The company expanded its capital base significantly through a Rights Issue, allotting 89,13,93,612 equity shares in January 2026 to fund business growth and lending activities.
Raw Material Costs
Purchase of stock-in-trade rose by 149.99% YoY to INR 18.70 Cr. This reflects an aggressive expansion in the commodities trading segment, which now consumes a larger portion of the revenue compared to the previous year (46.78% in FY24).
Manufacturing Efficiency
Not applicable as the company operates in Finance and Commodities Trading.
Strategic Growth
Expected Growth Rate
63%
Growth Strategy
Growth is being pursued through a massive capital infusion via a Rights Issue (89.14 Cr shares) to scale lending structures and commodity trading volumes. The strategy focuses on identifying high-promise market segments and maintaining operational excellence to contain 'loss given defaults' in the finance division.
Products & Services
Financial lending services (loans and advances) and Commodities Trading (buying and selling of bulk goods).
Brand Portfolio
Tilak Ventures Limited.
New Products/Services
Not specifically disclosed, though the company is exploring 'new investment strategies' in response to global economic turmoil.
Market Expansion
The company is targeting the 'huge unfulfilled demand in finance spaces' driven by India's demographics and growth stage.
External Factors
Industry Trends
The industry is moving toward consolidation following GST implementation. There is a shift toward Indian equity outperforming international markets, prompting a need for new investment strategies in the financial sector.
Competitive Landscape
The company faces 'stiff competition' in the commodities trading space and a slowdown in the economy which pressures margins.
Competitive Moat
The company's moat is built on its 'choice of markets' and specialized lending structures. Sustainability depends on its ability to exhibit operational excellence and keep defaults within acceptable limits.
Macro Economic Sensitivity
Highly sensitive to inflation and geopolitical turbulence, which the management notes has caused volatility in asset prices and market cycles in 2025.
Consumer Behavior
Increasing demand for credit in unfulfilled finance spaces is driving the company's shift toward expanded lending.
Geopolitical Risks
Geopolitical turbulence and the Russia-Ukraine conflict's impact on petroleum products are cited as factors striking commodity prices further.
Regulatory & Governance
Industry Regulations
Compliance with SEBI Code of Corporate Governance, IND AS (Indian Accounting Standards), and the Companies Act 2013. The company is notably not required to be registered under Section 45-IA of the RBI Act (NBFC registration).
Taxation Policy Impact
The effective tax rate for FY25 was approximately 26.39% (INR 2.25 Cr tax on INR 8.52 Cr PBT).
Legal Contingencies
The company faces a significant pending litigation with the Commissioner of Income Tax (Appeals) for AY 2013-14 involving INR 12.15 Cr (INR 1215.37 Lakh) regarding the disallowance of capital loss and addition of share premium.
Risk Analysis
Key Uncertainties
A major uncertainty is the valuation of unlisted equity investments (INR 14.51 Cr), where INR 3.61 Cr is valued based on management-certified Net Book Value rather than independent valuation, creating potential for material misstatement.
Geographic Concentration Risk
Operations appear concentrated in the Mumbai region, though trading activities may have broader reach.
Third Party Dependencies
Dependency on registered valuers for the valuation of INR 10.13 Cr in unlisted investments.
Technology Obsolescence Risk
The company acknowledges risks from technical problems and the increased use of technology, mitigated by internal control mechanisms.
Credit & Counterparty Risk
Significant credit risk exists as the company granted loans where 'the schedule of repayment of principal and payment of interest has not been stipulated,' making it impossible to track regularity of payments.
