Mizzen Ventures Ltd (531537)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Mizzen Ventures' revenue was ₹0.5 Cr (+0.1% year on year, -60.6% on the previous quarter), and net profit ₹-0.5 Cr (against a profit a year earlier); the operating margin was -104.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹0.5 | +0.1% | -60.6% |
| Operating profit | ₹-0.5 | to loss | to loss |
| Net profit | ₹-0.5 | to loss | to loss |
| EPS (₹) | -0.24 | to loss | to loss |
| Operating margin | -104.2% | — | — |
📢 Recent Corporate Announcements
Mizzen Ventures Limited has announced the resignation of Mr. Om Kantimohan Mishra (DIN: 11024748) from his position as Whole-time Director, effective from the close of business on August 19, 2026. According to the filing, the departure is due to his decision to pursue higher education and focus on academic commitments. The company confirmed there are no other material reasons for the resignation. This leadership change comes as the company reported a net loss of Rs 0.532 crore on revenue of Rs 0.4605 crore for the June 2026 quarter.
- Whole-time Director Om Kantimohan Mishra resigned effective closure of business hours on August 19, 2026
- Reason cited is to pursue higher education and focus on full-time academic commitments
- Company confirmed no other material reasons or undisclosed disputes behind the departure
- The resigning director holds nil directorships in other listed entities
Mizzen Ventures reported standalone revenue from operations of ₹18.00 Lakhs for the quarter ended June 30, 2026, down 33.3% YoY from ₹27.00 Lakhs in Q1 FY26. Standalone performance slipped into a net loss of ₹0.21 Lakhs compared to a net profit of ₹31.12 Lakhs in the year-ago period, impacted by higher other expenses of ₹25.40 Lakhs. On a consolidated basis, revenue from operations stood at ₹46.05 Lakhs, flat YoY compared to ₹46.26 Lakhs but declining 60.6% sequentially from ₹116.88 Lakhs in Q4 FY26.
- Standalone revenue from operations fell 33.3% YoY to ₹18.00 Lakhs in Q1 FY27 from ₹27.00 Lakhs in Q1 FY26.
- Standalone net loss stood at ₹0.21 Lakhs versus a net profit of ₹31.12 Lakhs in Q1 FY26 and ₹10.12 Lakhs in Q4 FY26.
- Consolidated revenue from operations dropped 60.6% QoQ to ₹46.05 Lakhs from ₹116.88 Lakhs in Q4 FY26.
- Total standalone expenses increased to ₹29.43 Lakhs in Q1 FY27 compared to ₹10.94 Lakhs in Q1 FY26, driven by higher other expenses of ₹25.40 Lakhs.
Mizzen Ventures Limited reported a 33.3% YoY drop in standalone operational revenue to ₹18.00 lakh for the quarter ended June 30, 2026, compared to ₹27.00 lakh in Q1 FY26. Standalone bottom line shifted to a net loss of ₹0.21 lakh against a net profit of ₹31.12 lakh in the corresponding quarter of the previous year, driven by higher other expenses of ₹25.40 lakh. On a consolidated basis, operational revenue stood at ₹46.05 lakh, down sequentially from ₹116.88 lakh in Q4 FY26. The statutory auditor, Bhuwania & Agrawal Associates, issued an unmodified limited review report for both standalone and consolidated results.
- Standalone revenue from operations fell 33.3% YoY to ₹18.00 lakh in Q1 FY27 from ₹27.00 lakh in Q1 FY26
- Standalone net result turned to a loss of ₹0.21 lakh compared to a profit of ₹31.12 lakh in Q1 FY26
- Consolidated revenue from operations contracted sequentially to ₹46.05 lakh from ₹116.88 lakh in Q4 FY26
- Standalone total expenses escalated to ₹29.43 lakh versus ₹10.94 lakh in the year-ago period, primarily due to other expenses rising to ₹25.40 lakh
Mizzen Ventures Ltd has scheduled a board meeting on August 14, 2026, to consider and approve its un-audited standalone and consolidated financial results for the quarter ended June 30, 2026. The company, which recently transitioned from Jyothi Infraventures, is operating on a very small revenue base of Rs 1 Cr (TTM) despite a market capitalization of Rs 94 Cr. Investors will be looking for updates on the utilization of the Rs 45.41 Cr capital raised for project execution. The stock has seen a significant decline of 83.2% over the past 12 months, reflecting high volatility and valuation concerns with a P/E of 134.6.
- Board meeting set for August 14, 2026, to approve Q1 FY27 results.
- Trading window has been closed since July 1, 2026, and will remain so until 48 hours after the results.
- Company reported a TTM revenue of only Rs 1 Cr against a net worth of Rs 50 Cr.
- Capital of Rs 45.41 Cr was previously raised for infrastructure project execution and expansion.
- Promoter holding remains stable at 65.17% as of June 2026.
Mizzen Ventures has officially withdrawn its proposed preferential issue of 8,00,000 equity shares, which was intended to raise ₹10 crore. The shares were priced at ₹125 each and were slated for non-promoter public investors. The company cited "unavoidable circumstances" for the decision, which comes exactly one month after the initial committee approval on June 18, 2026. Consequently, previous shareholder resolutions regarding the capital increase and share issuance are now cancelled.
- Withdrawal of a ₹10,00,00,000 (₹10 Crore) fundraise proposal.
- Cancellation of 8,00,000 equity shares issuance at a price of ₹125 per share.
- The proposal was previously approved by the Preferential Issue Committee on June 18, 2026.
- Shareholder resolutions for increasing authorized share capital now stand cancelled.
- Company may revisit fund-raising plans at an unspecified future date.
Mizzen Ventures Limited (formerly Jyothi Infraventures) held its first EGM for FY 2026-27 on July 15, 2026, to approve key capital-raising measures. Shareholders voted on an ordinary resolution to increase the authorized share capital and a special resolution for a preferential issue of equity shares to non-promoters for cash. The meeting was conducted via video conferencing and concluded within 18 minutes, with voting results pending the scrutinizer's report. This move signals an imminent cash infusion into the company, though specific amounts were not detailed in this outcome report.
- EGM held on July 15, 2026, to approve a preferential issue of equity shares to non-promoters
- Ordinary resolution passed to increase the authorized share capital and alter the Memorandum of Association
- The meeting was brief, starting at 11:30 AM and concluding at 11:48 AM (18 minutes duration)
- E-voting facility remained open for 30 minutes post-conclusion for members who had not yet voted
- M/s. Nuren Lodaya & Associates appointed as the scrutinizer to oversee the voting process
Mizzen Ventures has issued a corrigendum for its upcoming EGM on July 15, 2026, detailing a ₹10 crore preferential issue. The company has set the issue price at ₹125 per share, determined by a registered valuer as the shares are infrequently traded. A significant portion of the proceeds, ₹8.75 crore (87.5%), is allocated to its wholly-owned subsidiary, Mizzen Digital Private Limited, for technology upgrades and business development. The company intends to utilize these funds within a 12-month period from receipt.
- Total preferential issue size fixed at ₹10,00,00,000 (₹10 crore)
- Allocation of ₹8.75 crore to wholly-owned subsidiary Mizzen Digital Private Limited for growth and tech upgrades
- Issue price set at ₹125 per share based on valuation for infrequently traded securities
- ₹3.75 crore earmarked specifically for technology platform upgrades and product enhancement
- Relevant date for price determination established as June 15, 2026
Financial Performance
Revenue Growth by Segment
Standalone revenue grew from zero to INR 0.18 Cr (INR 18.00 lakhs) in FY25. The digital services segment, operated through the subsidiary Mizzen Digital Private Limited, generated a turnover of INR 0.32 Cr (INR 32.39 lakhs), representing 100% of the subsidiary's contribution to the group's consolidated activities.
Geographic Revenue Split
The company's revenues are highly dependent on clients primarily located in the United States, though the exact percentage split between domestic and international revenue is not disclosed. This geographic concentration makes the company sensitive to US economic cycles and corporate spending.
Profitability Margins
Standalone Profit Before Tax (PBT) margin stood at 45.6% on total income of INR 0.88 Cr, though this was heavily supported by 'Other Income' of INR 0.70 Cr. The subsidiary, Mizzen Digital, reported a Net Profit margin of 8.12% (INR 2.63 lakhs profit on INR 32.39 lakhs turnover).
EBITDA Margin
Standalone PBT was INR 0.40 Cr (INR 40.16 lakhs) in FY25, a significant recovery from a loss of INR 0.63 Cr (INR 63.13 lakhs) in FY24. This turnaround is primarily due to the infusion of other income and the commencement of initial revenue streams.
Capital Expenditure
The company raised INR 45.41 Cr (INR 4,540.91 lakhs) through financing activities, primarily via preferential allotment or private placement of shares. These funds are intended for business operations and infrastructure projects, as total assets reached INR 45.76 Cr (INR 4,575.72 lakhs) by March 31, 2025.
Credit Rating & Borrowing
Not disclosed in available documents. However, the company reported no term loans availed during the year and no working capital limits in excess of INR 5 Cr.
Operational Drivers
Raw Materials
Not disclosed as the company is yet to fully carry out large-scale infrastructure operations. Future requirements are expected to include construction materials like steel and cement.
Capacity Expansion
The company is in a pre-operational or early-operational phase for its main infrastructure segment. It has established a 100% subsidiary, Mizzen Digital Private Limited, to handle technology-driven services, indicating a diversification of operational capacity.
Raw Material Costs
Not disclosed in available documents as the company is in the early stages of operationalizing its business model.
Manufacturing Efficiency
Not applicable as the company is currently focused on infrastructure development and digital services rather than traditional manufacturing.
Strategic Growth
Growth Strategy
The company plans to achieve growth by leveraging the pivotal role of the infrastructure and construction industry in economic development. Strategy includes utilizing the newly raised capital of INR 45.41 Cr for project execution and expanding the digital services footprint through its subsidiary, Mizzen Digital Private Limited, targeting the US market.
Products & Services
Infrastructure construction works, infrastructural activities, and digital technology services provided through the subsidiary.
Brand Portfolio
Mizzen Ventures Limited (formerly Jyothi Infraventures Limited) and Mizzen Digital Private Limited.
New Products/Services
Digital services via Mizzen Digital Private Limited, which contributed INR 0.32 Cr in its first reporting period.
Market Expansion
The company is targeting the US market for its digital services and the domestic Indian market for its infrastructure and construction activities.
Strategic Alliances
The company operates Mizzen Digital Private Limited as a 100% subsidiary. No other joint ventures or associates were applicable for the reporting period.
External Factors
Industry Trends
The infrastructure industry is seeing a trend toward increased government spending and economic development projects. The company is positioning itself to take advantage of this growth while diversifying into digital services to capture technology-driven shifts in the global economy.
Competitive Landscape
The company operates in a highly competitive infrastructure sector and a global digital services market, competing with established tech firms for US-based contracts.
Competitive Moat
The company's potential moat lies in its ability to integrate infrastructure expertise with digital services. However, this is currently in the early stages of development and its sustainability depends on successful project execution and talent retention.
Macro Economic Sensitivity
Highly sensitive to US corporate governance and public disclosure requirements, which increase compliance costs and add uncertainty to the digital service segment's operations.
Consumer Behavior
Shift toward digital transformation among corporate clients in the US is driving demand for the subsidiary's services.
Geopolitical Risks
Trade barriers or changes in US-India professional service regulations could impact the subsidiary's delivery model.
Regulatory & Governance
Industry Regulations
Subject to the Companies Act 2013, SEBI (Depositories and Participants) Regulations 2018, and Ind AS accounting standards. Infrastructure projects are subject to local construction and environmental norms.
Taxation Policy Impact
The subsidiary Mizzen Digital had a tax provision of INR 1.30 lakhs on a PBT of INR 3.93 lakhs, representing an effective tax rate of approximately 33%.
Legal Contingencies
The company has disclosed the existence of pending litigations that could impact its financial position, although the specific aggregate value of these claims is not provided in the summary reports.
Risk Analysis
Key Uncertainties
The primary uncertainty is the commencement of full-scale operations for the parent company, which is currently in a 'yet to carry operations' status for its main segments.
Geographic Concentration Risk
High geographic risk with a significant portion of digital revenue tied to the United States market.
Third Party Dependencies
Dependency on the availability of skilled technology professionals for the digital subsidiary's service delivery.
Technology Obsolescence Risk
The digital segment faces risks of rapid technology changes, requiring continuous investment in training and motivation of personnel.
Credit & Counterparty Risk
Not disclosed; however, the company maintains internal controls to monitor financial reporting and asset safeguarding.
