Fedders Holding Ltd (511628)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Fedders Holding's net interest income was ₹67.7 Cr (-10.9% year on year, -49.1% on the previous quarter), and net profit ₹10.8 Cr (-32.4% year on year).
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Net interest income | ₹67.7 | -10.9% | -49.1% |
| Operating profit | ₹10.0 | — | — |
| Net profit | ₹10.8 | -32.4% | -54.9% |
📢 Recent Corporate Announcements
Fedders Holding Ltd reported its Q1 FY27 (quarter ended June 30, 2026) financial results, with consolidated EPS declining to ₹0.54 compared to ₹0.82 in the year-ago period. During the quarter, the company completely divested its equity stake in wholly owned subsidiary IM+ Investments & Capital Private Limited. Statutory auditors issued a qualified conclusion on the consolidated results due to issues at subsidiary Fedders Electric and Engineering Ltd, including ₹47.65 lakh in pending IEPF transfers and unapplied Ind AS 109 rules on preference shares. The board also noted ongoing plans for direct listing of 20.14 crore equity shares on the NSE Main Board.
- Consolidated Basic EPS stood at ₹0.54 for Q1 FY27, down from ₹0.82 in Q1 FY26 and ₹1.18 in Q4 FY26.
- Completely disposed of entire equity stake in wholly owned subsidiary IM+ Investments & Capital Private Limited during the quarter.
- Auditor issued a qualified conclusion over subsidiary non-compliance, including ₹47.65 lakh pending transfer to the IEPF and missing fixed asset records.
- Direct listing of 20,14,15,970 existing equity shares of ₹1 each approved for the NSE Main Board without fresh capital raising.
Fedders Holding approved its Q1 FY27 unaudited standalone and consolidated financial results and noted the complete divestment of wholly-owned subsidiary IM+ Investments & Capital Private Limited. The statutory auditor issued a qualified conclusion regarding subsidiary Fedders Electric & Engineering Limited due to non-transfer of Rs 47.65 lakh to the IEPF, lack of proper Fixed Asset Registers, and unquantified Ind AS 109 accounting for redeemable preference shares. Additionally, the company is progressing with its direct listing of 20.14 crore equity shares on the NSE Main Board without fresh capital raising.
- Divested entire equity investment in wholly-owned subsidiary IM+ Investments & Capital Private Limited during the quarter
- Statutory auditor issued a qualified review report citing Rs 47.65 lakh unpaid to IEPF by subsidiary Fedders Electric and Engineering
- Subsidiary lacked proper Fixed Asset Registers, leading to depreciation charged on management estimates
- Direct listing of 20,14,15,970 equity shares (face value Re 1 each) on the NSE Main Board approved without new capital raising
Fedders Holding Ltd has scheduled a board meeting for August 14, 2026, to approve its unaudited financial results for the quarter ended June 30, 2026. The company enters the new fiscal year following a strong FY26, which saw TTM revenue of Rs 451 Cr and a PAT of Rs 91 Cr. Investors will be monitoring if the high revenue momentum of Rs 175 Cr from the March 2026 quarter is sustained. The trading window for insiders is currently closed in compliance with SEBI regulations.
- Board meeting scheduled for August 14, 2026, to approve Q1 results.
- Results pertain to the first quarter ended June 30, 2026.
- Trading window closed for insiders until 48 hours post-result declaration.
- Company reported a TTM PAT of Rs 91 Cr against a market cap of Rs 836 Cr.
- Previous quarter (Mar 2026) revenue stood at Rs 175 Cr.
Fedders Holding Ltd (Market Cap: Rs 917 Cr) has approved a proposal to list its equity shares on the National Stock Exchange (NSE) via the direct listing route. This move is intended to enhance the company's visibility and liquidity beyond its current BSE listing. Concurrently, the board underwent a reshuffle on July 27, 2026, with the resignation of one director and the appointment of three new directors, including one Independent Woman Director for a five-year term. The company reported a TTM PAT of Rs 91 Cr on revenue of Rs 451 Cr.
- Approved the proposal to apply for listing on the National Stock Exchange (NSE) via the Direct Listing route on July 27, 2026.
- Appointed Mrs. Geeta Mittal as an Independent Woman Director for a term of 5 consecutive years.
- Accepted the resignation of Mrs. Sonal Singhal from the board effective close of business hours on July 27, 2026.
- Appointed two additional Non-Executive Non-Independent Directors, Mr. Anil Kumar Kaushik and Mr. Rajpal Singh.
- The board meeting was conducted within a 1-hour window from 03:00 pm to 04:00 pm.
Fedders Holding Ltd (Market Cap: ₹917 Cr) has approved a proposal to apply for a direct listing on the National Stock Exchange (NSE), a move likely to enhance stock liquidity and institutional visibility. The board also accepted the resignation of Non-Executive Director Sonal Singhal and appointed three new additional directors, including Geeta Mittal as an Independent Woman Director for a 5-year term. These changes, effective July 27, 2026, come as the company maintains a TTM PAT of ₹91 Cr on revenue of ₹451 Cr. The listing application will follow SEBI ICDR Regulations, 2018.
- Approved application for listing equity shares on the National Stock Exchange (NSE) via the Direct Listing route on July 27, 2026.
- Appointment of Mrs. Geeta Mittal as Independent Director for a 5-year term, subject to shareholder approval.
- Resignation of Mrs. Sonal Singhal from the board and the Nomination & Remuneration Committee effective July 27, 2026.
- Appointment of two additional Non-Executive Non-Independent Directors, Mr. Anil Kumar Kaushik and Mr. Rajpal Singh.
- Company reported TTM Revenue of ₹451 Cr and a Net Worth of ₹721 Cr as per latest financial context.
Fedders Holding Ltd (Market Cap: ₹917 Cr) has approved a proposal to list its equity shares on the National Stock Exchange (NSE) via the Direct Listing route. This move is expected to significantly improve trading liquidity and investor visibility for the BSE-listed NBFC. Concurrently, the company announced a board overhaul, including the resignation of one director and the appointment of three new directors, including one Independent Woman Director for a 5-year term. These changes are effective as of July 27, 2026.
- Approved proposal to apply for listing on the National Stock Exchange (NSE) through the Direct Listing route on July 27, 2026.
- Appointment of Mrs. Geeta Mittal as an Independent Woman Director for a 5-year term.
- Resignation of Mrs. Sonal Singhal as Non-Executive Director effective July 27, 2026.
- Appointment of two additional Non-Independent Directors, Mr. Anil Kumar Kaushik and Mr. Rajpal Singh.
- Company maintains a TTM PAT of ₹91 Cr on a TTM Revenue of ₹451 Cr as of the latest financial context.
Fedders Holding Ltd (Market Cap: ₹917 Cr) has approved a proposal to list its equity shares on the National Stock Exchange (NSE) via the direct listing route. This move is intended to enhance liquidity and visibility for the company's shares, which are currently listed on the BSE. Additionally, the board underwent a significant shuffle with the resignation of one director and the appointment of three new directors, including one Independent Woman Director, Mrs. Geeta Mittal, for a 5-year term. All changes are effective as of July 27, 2026.
- Approved the application for listing on the National Stock Exchange (NSE) through the Direct Listing route
- Appointment of Mrs. Geeta Mittal as an Independent Director for a 5-year term starting July 27, 2026
- Appointment of two additional Non-Independent Directors, Mr. Anil Kumar Kaushik and Mr. Rajpal Singh
- Resignation of Mrs. Sonal Singhal from the board and the Nomination & Remuneration Committee effective July 27, 2026
- Board meeting concluded within 1 hour, from 03:00 pm to 04:00 pm
Fedders Holding's FY26 Secretarial Compliance Report reveals significant governance lapses, including a failure to maintain the mandated 6-director board for top 2000 listed entities. The company forfeited ₹14.01 crore in October 2025 after preferential warrants were not converted within the 18-month window. Furthermore, SEBI imposed a ₹4 lakh penalty on both the company and a director in March 2026 for disclosure violations. Notably, the auditor could not verify Insider Trading (PIT) compliance due to a lack of provided data.
- Forfeited ₹14,01,40,000 (₹14.01 cr) on October 21, 2025, due to non-conversion of preferential warrants.
- SEBI imposed a monetary penalty of ₹4,00,000 each on the Company and a Director via an order dated March 11, 2026.
- Non-compliance with Regulation 17(1)(c) regarding the minimum requirement of six directors for top 2000 entities.
- Material subsidiary Fedders Electric and Engineering Limited was delisted effective March 02, 2026.
- Auditor reported inability to verify compliance with PIT Regulation 3(5) and 3(6) due to inadequate data/records.
Financial Performance
Revenue Growth by Segment
The company reported Revenue from Operations of INR 95.44 Lakhs for FY 2024-25. It currently operates without reportable business segments, focusing on a unified financial advisory and consultancy model.
Geographic Revenue Split
Not disclosed in available documents, though the company is actively expanding its geographic presence throughout India.
Profitability Margins
The company reported a Loss After Tax of INR 5.61 Lakhs on a Total Income of INR 231.84 Lakhs, resulting in a Net Profit Margin of -2.42%. Total expenses stood at INR 110.05 Lakhs.
EBITDA Margin
Not explicitly disclosed; however, the Loss Before Tax was INR 7.49 Lakhs against a Total Income of INR 231.84 Lakhs, indicating negative core profitability for the period.
Credit Rating & Borrowing
The company maintains a conservative financial profile; however, specific credit ratings and interest rate percentages are not disclosed.
Operational Drivers
Raw Materials
Not applicable as the company is a service-oriented consultancy and financial advisory firm.
Capacity Expansion
Not applicable for the service sector; however, the company is expanding its service reach across India.
Raw Material Costs
Not applicable; the primary costs are operational and administrative, totaling INR 110.05 Lakhs.
Strategic Growth
Growth Strategy
The company aims to achieve growth by providing a 'one-stop solution' for fund raising, asset management, and RERA consulting. It is leveraging its specialized focus on the Real Estate sector and distress debt resolution to expand its fee-based and lending business activities across India.
Products & Services
Corporate and Transaction Advisory, Real Estate Transaction Advisory, RERA Consulting, Asset Management, Distress Debt Resolution Advisory, and Lending Services.
Brand Portfolio
Fedders Holding Limited (formerly known as IM+ Capitals Limited).
New Products/Services
The company has diversified into a balanced mix of advisory and lending services to enable cross-selling to single customers.
Market Expansion
The company is focused on expanding its geographic presence throughout India to reach more institutional and retail clients.
External Factors
Industry Trends
The Indian financial sector is undergoing rapid expansion with strong growth in NBFCs and mutual funds. Fedders Holding is positioning itself as a diversified consultancy to capture this growth through fee-based and lending activities.
Competitive Landscape
The sector is highly competitive with commercial banks, insurance companies, and other NBFCs entering the market.
Competitive Moat
The company's moat is built on its specialized expertise in RERA consulting and distress debt resolution, which are niche areas within the broader financial services industry.
Macro Economic Sensitivity
Business growth is highly dependent on the Global and Indian economy, with sensitivity to political instability and changes in financial policies at the State or Central level.
Geopolitical Risks
Political instability at the Central or State level is cited as a potential threat to the company's financial position.
Regulatory & Governance
Industry Regulations
Operations are governed by the Companies Act 2013, SEBI guidelines, RERA regulations, and Indian Accounting Standards (Ind AS).
Taxation Policy Impact
The company incurred a tax expense (credit) of INR (1.89) Lakhs for FY 2024-25.
Legal Contingencies
The company reported that it does not have any pending litigations that would impact its financial position as of March 31, 2025.
Risk Analysis
Key Uncertainties
Key risks include credit risk, changes in the tax regime, and demand/supply conditions in the real estate industry which could impact revenue by an unspecified percentage.
Geographic Concentration Risk
The company is currently expanding throughout India, but specific regional revenue concentrations are not provided.
Technology Obsolescence Risk
The company focuses on leveraging technology for people development and internal learning to maintain competitiveness.
Credit & Counterparty Risk
The company is exposed to credit risk through its lending activities and manages this through conservative financial profiling.
