Jhaveri Credits & Capital Ltd (531550)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Jhaveri Credits' revenue was ₹17.1 Cr (+45.4% year on year, -64.3% on the previous quarter), and net profit ₹-1.5 Cr (against a profit a year earlier); the operating margin was -15.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹17.1 | +45.4% | -64.3% |
| Operating profit | ₹-2.6 | to loss | to loss |
| Net profit | ₹-1.5 | to loss | to loss |
| EPS (₹) | -1.33 | to loss | to loss |
| Operating margin | -15.5% | — | — |
📢 Recent Corporate Announcements
Jhaveri Credits and Capital has received a Letter of Award (LoA) from the New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP) on September 03, 2026. The contract entails the supply, installation, and commissioning of grid-connected rooftop solar power plants at various government institutions in Andhra Pradesh under the RESCO model. Agreed tariff rates range between Rs. 3.98 per unit (for capacities >500 kW) and Rs. 4.28 per unit (up to 10 kW). The project is slated for execution within 90 days from the scheduled commissioning date.
- Received LoA from NREDCAP on September 03, 2026 under RESCO mode
- Tariff consideration ranges from Rs. 3.98 per unit (>500 kW) to Rs. 4.28 per unit (up to 10 kW)
- Execution timeline set at 90 days from the Scheduled Commissioning Date
- Project covers rooftop solar installations across various Andhra Pradesh government institutions
Jhaveri Credits & Capital Limited has submitted its Integrated Annual Report for FY 2025-26 and issued the notice for its 32nd Annual General Meeting (AGM). The AGM is scheduled to be held on Friday, September 25, 2026, at 3:30 PM IST via Video Conferencing / Other Audio-Visual Means. The filing also provides web-links and instructions for shareholders regarding electronic voting and email registration via MCS Share Transfer Agent Limited.
- 32nd Annual General Meeting scheduled for Friday, September 25, 2026, at 03:30 p.m. IST
- Meeting to be conducted virtually through Video Conferencing / Other Audio-Visual Means
- Annual Report for FY 2025-26 submitted pursuant to Regulation 34(1) of SEBI LODR Regulations
- Shareholder communication and email updates managed through RTA MCS Share Transfer Agent Limited
Jhaveri Credits and Capital Limited announced that its Board of Directors approved an increase in borrowing limits under Section 180(1)(c) of the Companies Act, 2013, exceeding the aggregate of its paid-up share capital, free reserves, and securities premium. Additionally, the Board approved an increase in the limits for creating charges or mortgages on company property under Section 180(1)(a). Both resolutions are subject to approval by the company's shareholders. The specific revised borrowing thresholds were not quantified in the disclosure.
- Board approved increase in borrowing limits under Section 180(1)(c) on August 29, 2026
- Board approved enhanced limits for creation of charge/mortgage on property under Section 180(1)(a)
- Both proposals are subject to the approval of company shareholders
- Meeting commenced at 02:00 p.m. and concluded at 02:30 p.m. on August 29, 2026
Jhaveri Credits & Capital Ltd has received a Letter of Intent (LoI) from Gujarat Energy Development Agency (GEDA) valued at ₹10.65 crore (₹10,65,32,530). The contract entails the supply, installation, commissioning, and 10-year Comprehensive Maintenance Contract (CMC) of solar rooftop systems on government buildings in Gujarat for FY 2026-27. The order is slated for execution within 120 days and represents ~62.4% of its Q1 FY27 revenue (₹17.06 crore in Jun 2026).
- Received Letter of Intent for ₹10,65,32,530 from Gujarat Energy Development Agency (GEDA)
- Scope includes installation, commissioning, and a 10-year Comprehensive Maintenance Contract (CMC)
- Project execution timeline specified as 120 days
- Contract represents ~62.4% of Q1 FY27 quarterly revenue of ₹17.06 Cr
Jhaveri Credits & Capital Ltd has approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company also scheduled its 32nd Annual General Meeting (AGM) for September 25, 2026, via video conferencing. While specific Q1 profit figures were not detailed in the cover letter, the company enters this period following a volatile FY26 where revenue reached Rs 111 Cr but TTM PAT remained negative at -Rs 2 Cr. A significant recent development is the jump in promoter holding to 64.4% as of June 2026, up from 50.91% in March 2026.
- Board meeting for result approval lasted 3 hours and 15 minutes on August 12, 2026
- 32nd Annual General Meeting scheduled for September 25, 2026
- Promoter holding increased to 64.4% in the June 2026 quarter from 50.91% in March 2026
- Company is currently operating with a lean workforce of 4 employees as per latest annual filings
- TTM revenue stands at Rs 92 Cr against a market capitalization of Rs 180 Cr
Jhaveri Credits & Capital has approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company has also scheduled its 32nd Annual General Meeting (AGM) for September 25, 2026, to be held via video conferencing. This follows a volatile FY26 where the company reported a TTM revenue of Rs 92 Cr but a net loss of Rs 2 Cr. Investors should note the significant increase in promoter holding to 64.4% as of the June 2026 quarter, up from 50.91% in March 2026.
- Approved unaudited financial results for the quarter ended June 30, 2026
- Scheduled the 32nd Annual General Meeting for September 25, 2026
- Promoter holding increased significantly to 64.4% as of June 2026 from 50.91% in March 2026
- Board meeting conducted over a duration of 3 hours and 15 minutes (12:30 PM to 3:45 PM)
Jhaveri Credits & Capital Ltd has scheduled a board meeting for August 12, 2026, to approve its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company reported a TTM revenue of Rs 92 Cr but a TTM loss of Rs 2 Cr, making this quarterly update critical for assessing profitability trends. Investors should note the significant jump in promoter holding from 50.91% in March 2026 to 64.4% in June 2026. The results will also be watched for any updates regarding the pending amalgamation with U R Energy (India) Private Limited.
- Board meeting scheduled for August 12, 2026, to approve Q1 FY27 results.
- Trading window has been closed since June 25, 2026, per regulatory requirements.
- Promoter holding increased significantly to 64.4% as of the June 2026 quarter.
- Company reported a strong March 2026 quarter with revenue of Rs 47.8 Cr and PAT of Rs 2.88 Cr.
Financial Performance
Revenue Growth by Segment
Total Revenue from Operations was INR 2,331.10 lakhs in FY 2024-25, representing a decline of 11.01% compared to INR 2,619.62 lakhs in FY 2023-24. Segment-specific growth was not disclosed.
Profitability Margins
Operating Profit Margin improved significantly from 10.83% to 16.95% (a 56.46% relative increase) due to efficient management. Net Profit Margin increased from 6% to 10% (a 66.67% relative increase) YoY.
EBITDA Margin
The Operating Profit Margin of 16.95% reflects core profitability, which grew by 56.46% relative to the previous year, driven by optimized operational costs despite a revenue decline.
Capital Expenditure
Depreciation, amortization, and impairment expenses rose to INR 59.18 lakhs in FY 2024-25 from INR 13.26 lakhs in FY 2023-24, a 346.3% increase, indicating significant asset adjustments or additions.
Credit Rating & Borrowing
The Company reported a Debt-Equity Ratio of 0 for FY 2024-25, down from 0.01, indicating no outstanding debt. Finance costs were minimal at INR 2.17 lakhs, down 26.69% YoY.
Operational Drivers
Raw Materials
Purchases of stock-in-trade and investments represent the primary cost of operations, totaling INR 2,118.47 lakhs, which accounts for 90.88% of total revenue.
Capacity Expansion
The Company is pursuing a Scheme of Amalgamation with U R Energy (India) Private Limited, which received shareholder approval on August 2, 2025, to expand its operational scale and business base.
Raw Material Costs
Costs for stock-in-trade and investments decreased by 31.64% YoY to INR 2,118.47 lakhs from INR 3,098.94 lakhs, reflecting a shift in procurement and investment volume.
Manufacturing Efficiency
The Company operates with a lean workforce of 4 employees as of March 31, 2025, focusing on operational efficiency to drive a 49.63% growth in Profit After Tax.
Strategic Growth
Growth Strategy
The primary growth strategy is the amalgamation with U R Energy (India) Private Limited. The Company received 'no adverse observations' from BSE on May 12, 2025, and is currently awaiting final sanction from the NCLT following shareholder approval in August 2025.
Products & Services
The Company provides financial credit services, investment products, and capital market trading services.
Brand Portfolio
Jhaveri Credits and Capital Limited.
Market Expansion
The Company aims to leverage the positive outlook of the Indian economy and steady growth in stock market indices since 2022 to expand its domestic financial services footprint.
Strategic Alliances
Amalgamation with U R Energy (India) Private Limited is the key strategic move currently in progress.
External Factors
Industry Trends
The industry is characterized by steady growth in stock market indices since 2022 and stable governance, positioning the Company to benefit from domestic investor optimism.
Competitive Landscape
The Company operates in a competitive financial services market, focusing on conservative and secure business models to differentiate from speculative players.
Competitive Moat
The Company maintains a moat through cost leadership and operational efficiency, evidenced by the improvement in Net Profit Margin to 10% and a disciplined, conservative fund management approach.
Macro Economic Sensitivity
The Company is highly sensitive to the Indian economy's resilience and domestic market fundamentals, which have shown consistent improvement across key indicators.
Geopolitical Risks
Global uncertainties and geopolitical tensions are noted as potential risks that could impact the Indian economy and, consequently, the Company's investment outcomes.
Regulatory & Governance
Industry Regulations
The Company complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013, regarding financial reporting and corporate governance.
Taxation Policy Impact
Current tax expense for FY 2024-25 was INR 85.01 lakhs, representing approximately 30.8% of Profit Before Tax (INR 275.56 lakhs).
Legal Contingencies
The Scheme of Amalgamation with U R Energy (India) Private Limited is currently pending final sanction by the Hon’ble NCLT following an application made on June 4, 2025.
Risk Analysis
Key Uncertainties
The Trade Receivables' Turnover Ratio decreased by 74.33% (from 33.78 to 8.67), indicating extended credit to customers which could increase the risk of bad debts if not managed effectively.
Third Party Dependencies
Dependency on MCS Share Transfer Agent Limited for Registrar and Share Transfer services.
Credit & Counterparty Risk
Receivables quality is a primary concern as the Company extended credit terms to support sales growth, leading to a significant drop in the turnover ratio.
