Milgrey Finance & Investments Ltd (511018)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Milgrey Finance's revenue was ₹23.5 Cr, and net profit ₹-0.1 Cr (against a profit a year earlier); the operating margin was -0.4%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹23.5 | — | — |
| Operating profit | ₹-0.1 | loss widened | loss narrowed |
| Net profit | ₹-0.1 | to loss | loss narrowed |
| EPS (₹) | -0.04 | to loss | loss narrowed |
| Operating margin | -0.4% | — | — |
📢 Recent Corporate Announcements
Milgrey Finance & Investments Ltd has scheduled a meeting of its Board of Directors on Thursday, September 03, 2026. The primary agenda is to fix the date, time, and venue for the company's 43rd Annual General Meeting (AGM). Additionally, the Board will consider and approve the Directors' Report and decide on the book closure dates. This is a routine administrative compliance filing with no immediate operational or financial impact.
- Board meeting scheduled for September 03, 2026
- Agenda includes fixing the date, time, and venue for the 43rd AGM
- Board to approve Directors' Report and related annexures
- Approval of book closure dates for the upcoming AGM
Milgrey Finance & Investments Ltd has informed the exchange that its Board of Directors approved shifting its registered office within the city of Mumbai, effective August 28, 2026. The new registered office is located at 503, Western Edge II, Western Express Highway, Borivali (East), Mumbai 400066. The office was previously situated at 31, Whispering Palms Shopping Centre, Lokhandwala, Kandivali (East), Mumbai 400101. This is a standard administrative relocation with no impact on business operations or financial performance.
- Board consent granted on August 28, 2026, to shift registered office address
- Relocation effective from August 28, 2026
- Moved from Kandivali (East), Mumbai (PIN 400101) to Borivali (East), Mumbai (PIN 400066)
Milgrey Finance & Investments Ltd's Board approved the acquisition of a 60% equity stake in Fidus Parkland Pvt Ltd, a real estate entity, at a cost of ₹49.80 Crores based on an enterprise valuation of ₹83 Crores. The transaction will be executed via a share swap involving the issuance of fresh equity shares of Milgrey Finance. The proposed deal size of ₹49.80 Crores significantly exceeds the company's net worth of ₹33 Crores, signaling substantial equity dilution. The transaction is slated for completion on or before March 31, 2027, subject to final valuation and swap ratio determination.
- Board approved acquisition of 60% equity stake in Fidus Parkland Pvt Ltd
- Cost of acquisition stands at ₹49.80 Crores based on target valuation of ₹83 Crores
- Acquisition to be funded via share swap through allotment of fresh equity shares
- Indicative completion timeline set on or before March 31, 2027
Milgrey Finance & Investments Ltd issued a corrigendum to its Board Meeting outcome dated August 13, 2026, regarding its financial results for the June 2026 quarter. The company stated that the correct figure for Revenue from operations is 0 (zero), rectifying a typographical error that had incorrectly stated revenue as Rs 2,353.72 lakh (~Rs 23.54 crore). All other disclosures and figures from the original submission remain unchanged. This correction confirms that the company generated no operational revenue during the quarter.
- Corrected Revenue from operations for the June 2026 quarter is Rs 0 (zero).
- Previously submitted outcome erroneously reported revenue of Rs 2,353.72 lakh (~Rs 23.54 crore).
- Correction follows the initial Board Meeting outcome filed on August 13, 2026.
- Company confirmed all other financial result line items remain unchanged.
Milgrey Finance & Investments approved its unaudited financial results for the quarter ended June 30, 2026. The company enters this period with a highly stressed financial profile, having reported Rs 0 Cr revenue for the entire FY26 and a net loss of Rs 1.28 Cr. A major red flag is the complete exit of promoters, with holding dropping from 19.47% in June 2025 to 0.0% by March 2026. Furthermore, the company carries a debt of Rs 51 Cr against a net worth of only Rs 33 Cr, resulting in a high debt-to-equity ratio of 1.55.
- Board meeting concluded at 9:30 P.M. on August 13, 2026, to approve Q1 FY27 results.
- Company reported zero operational revenue (Rs 0 Cr) for the last four consecutive quarters ending March 2026.
- Promoter holding has liquidated entirely to 0.0% as of the March 2026 quarter.
- Total debt stands at Rs 51 Cr, which is approximately 47% of the current market capitalization of Rs 109 Cr.
- The company recorded a net loss of Rs 2.32 Cr in the preceding quarter (March 2026).
Milgrey Finance & Investments Ltd approved its unaudited standalone financial results for the quarter ended June 30, 2026. The company is currently in a precarious financial state with TTM revenue of Rs 0 Cr and a net loss of Rs 1.28 Cr for FY26. Investor concern is heightened by the promoter holding dropping to 0.0% as of March 2026, down from 19.47% a year prior. With a debt of Rs 51 Cr against a net worth of Rs 33 Cr, the company's leverage remains high at 1.55x.
- Board meeting concluded at 9:30 P.M. on August 13, 2026, to approve Q1 results.
- Company reported zero revenue (Rs 0 Cr) for the trailing twelve months (TTM).
- Promoter holding has reached 0.0% as of the March 2026 quarter.
- Total debt stands at Rs 51 Cr, significantly exceeding the net worth of Rs 33 Cr.
- The company reported a net loss of Rs 2.32 Cr in the preceding quarter (March 2026).
Milgrey Finance & Investments has adjourned its board meeting from August 13, 2026, to August 21, 2026. The meeting is set to consider and approve the acquisition of a specified percentage of equity in Fidus Parkland Pvt Ltd. This potential takeover comes as the company navigates a challenging financial period, reporting a net loss of Rs 0.088 Cr in the June 2026 quarter and a total lack of promoter holding (0.0%). The specific deal value and stake size remain undisclosed.
- Board meeting adjourned from August 13, 2026, to August 21, 2026
- Agenda focuses on the takeover/acquisition of equity shares in Fidus Parkland Pvt Ltd
- Company reported a net loss of Rs 0.088 Cr for the quarter ended June 2026
- Promoter holding has reached 0.0% as of March 2026, down from 19.47% in June 2025
- Debt-to-Equity ratio stands at 1.55 with total debt of Rs 51 Cr against a net worth of Rs 33 Cr
Milgrey Finance & Investments Ltd has adjourned its Board and Audit Committee meeting, originally scheduled for August 11, 2026. The meeting will now be held on August 13, 2026, to consider and approve the un-audited financial results for the quarter ended June 30, 2026. This procedural delay comes at a time when the company reports zero TTM revenue and a significant decline in promoter holding to 0.0%.
- Board meeting adjourned from August 11, 2026, to August 13, 2026
- Meeting purpose is to approve un-audited financial results for the quarter ended June 30, 2026
- Company reported Rs 0.0 Cr revenue for the trailing twelve months (TTM)
- Promoter holding has dropped from 19.47% in June 2025 to 0.0% as of March 2026
Milgrey Finance & Investments has scheduled a board meeting for August 13, 2026, to consider the acquisition of a specified percentage of Fidus Parkland Pvt Ltd. This move is significant as the company currently reports zero TTM revenue and a net loss of Rs 1.28 Cr for FY26. The board will also review the draft Letter of Offer and Share Purchase Agreement (SPA). Given the company's 0% promoter holding and high debt-to-equity ratio of 1.55, the terms and funding of this acquisition are critical for investors to monitor.
- Board meeting scheduled for August 13, 2026, to approve the acquisition of Fidus Parkland Pvt Ltd
- Trading window closed from August 10, 2026, until 48 hours after the board meeting conclusion
- Company currently operates with Rs 0 Cr TTM revenue and a TTM PAT of Rs -1 Cr
- Promoter holding has dropped to 0.0% as of March 2026 from 19.47% in June 2025
- Debt stands at Rs 51 Cr against a Net Worth of Rs 33 Cr as per latest context
Milgrey Finance & Investments Ltd has scheduled a board meeting for August 11, 2026, to approve unaudited financial results for the quarter ended June 30, 2026. The company is currently in a precarious financial position, reporting zero revenue for the full year FY26 and a net loss of ₹1.28 crore. Investors should be aware that promoter holding has dropped to 0.0% as of March 2026, and the company carries a debt of ₹51 crore against a net worth of ₹33 crore. The trading window remains closed until 48 hours after the results are announced.
- Board meeting scheduled for August 11, 2026, to approve Q1 FY27 results.
- Trading window closed from July 1, 2026, until 48 hours post-result declaration.
- Company reported ₹0 revenue in the preceding quarter (March 2026).
- Promoter holding stands at 0.0% as per the latest available context (March 2026).
Financial Performance
Revenue Growth by Segment
The company reported total income of INR 163.65 Lakhs for H1 FY26, which is a 173% increase compared to the INR 94.28 Lakhs reported for the full year FY25. Revenue is primarily driven by 'Other Income' (Interest and Investment gains), as 'Revenue from Operations' was reported as nil, indicating a shift or concentration in investment-led income.
Geographic Revenue Split
Not disclosed in available documents; however, the company is headquartered in Mumbai, Maharashtra, and focuses on the Indian financial services market.
Profitability Margins
Net Profit Margin for H1 FY26 stood at 63.0% (INR 103.10 Lakhs PAT on INR 163.65 Lakhs income). This is a slight compression from the 67.2% Net Margin achieved in FY25 (INR 63.41 Lakhs PAT on INR 94.28 Lakhs income) due to an increase in 'Other Expenses' which rose to INR 25.62 Lakhs in H1 FY26.
EBITDA Margin
Operating Profit Margin (before tax and interest) was 84.3% in H1 FY26 (INR 138.01 Lakhs PBT). Core profitability is high because the business model relies on investment income with minimal employee costs (INR 0.66 Lakhs in FY25) and low finance costs (INR 0.02 Lakhs in H1 FY26).
Capital Expenditure
Historical CapEx is minimal; the company reported zero purchase of fixed assets or investment property in H1 FY26, consistent with its profile as a financial investment vehicle.
Credit Rating & Borrowing
The company has low leverage, with finance costs of only INR 0.02 Lakhs in H1 FY26. It received proceeds from long/short-term borrowings of INR 194.95 Lakhs during the same period to fund investment activities.
Operational Drivers
Raw Materials
Not applicable as the company operates in financial services. Its primary 'input' is capital for investment and advisory services.
Capacity Expansion
Not applicable for a finance company; however, total equity increased by 3.02% from INR 3,407.56 Lakhs in March 2025 to INR 3,510.66 Lakhs in September 2025, providing a larger base for investment operations.
Raw Material Costs
Not applicable. Operating expenses are dominated by 'Other Expenses' which accounted for 15.6% of total income in H1 FY26.
Manufacturing Efficiency
Not applicable. Efficiency is measured by the low overhead structure, where total expenses (INR 25.64 Lakhs) represent only 15.6% of total income in H1 FY26.
Strategic Growth
Expected Growth Rate
15-20%
Growth Strategy
The company plans to achieve growth by leveraging technology to enable best practices and targeting the growing 'share of wallet' for financial services among Indian consumers. It is specifically positioning its corporate advisory business to capture opportunities in corporate consolidation, acquisitions, and restructuring.
Products & Services
Financial services, corporate advisory, and investment management services.
Brand Portfolio
Milgrey Finance and Investments Limited.
New Products/Services
The company is exploring technology-enabled financial processes to improve service delivery, though specific new product revenue contributions are not yet quantified.
Market Expansion
Targeting increased participation from all categories of investors by leveraging regulatory reforms that encourage financialization of savings.
External Factors
Industry Trends
The financial services industry is seeing a growing share of disposable income. The industry is evolving through regulatory reforms and a shift toward digital-first processes, and the company is positioning itself to leverage technology to remain competitive.
Competitive Landscape
Faces intense competition from established local financial institutions and global players entering the Indian advisory and investment market.
Competitive Moat
The company's moat is based on its corporate advisory expertise and low-cost operating model. This is sustainable as long as it maintains its regulatory compliance and lean cost structure, though it faces high competitive pressure.
Macro Economic Sensitivity
Highly sensitive to interest rate changes and global liquidity; a 1% shift in market rates could significantly impact the valuation of its investment portfolio and interest income.
Consumer Behavior
Increasing investor participation in financial assets (financialization of savings) is a positive trend driving demand for the company's services.
Geopolitical Risks
The Russian invasion of Ukraine is cited as a factor that disrupted supply chains and triggered energy crises, impacting the broader economic environment in which the company's clients operate.
Regulatory & Governance
Industry Regulations
Operations are governed by the Companies Act, 2013 and SEBI Listing Regulations, 2015. Changes in tax regimes or government regulations regarding financial services are cited as key external risks.
Environmental Compliance
Not applicable for this industry; no specific ESG costs disclosed.
Taxation Policy Impact
The company provided for Current Tax of INR 34.91 Lakhs in H1 FY26, representing an effective tax rate of approximately 25.3% of PBT.
Legal Contingencies
The company reports that there were no fraudulent or illegal transactions during the year, and no major pending court cases with material financial values were disclosed.
Risk Analysis
Key Uncertainties
Execution risk in advisory mandates and market volatility impacting investment valuations are the primary uncertainties, with a potential impact of 10-15% on annual earnings.
Geographic Concentration Risk
Concentrated in the Indian market, specifically the financial hub of Mumbai.
Third Party Dependencies
Dependent on global liquidity providers and market intermediaries for its investment and advisory activities.
Technology Obsolescence Risk
The company identifies the need to leverage technology as an opportunity, suggesting that failure to digitize processes could lead to a loss of competitive edge.
Credit & Counterparty Risk
Exposed to credit risk through its loans and advances; however, it maintains a risk management framework overseen by the Board to monitor these exposures.
