Anka India Ltd (531673)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Anka India's revenue was ₹2.8 Cr (-53.1% year on year, +4.3% on the previous quarter), and net profit ₹0.1 Cr (against a loss a year earlier); the operating margin was 17.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹2.8 | -53.1% | +4.3% |
| Operating profit | ₹0.5 | +17.0% | from loss |
| Net profit | ₹0.1 | from loss | from loss |
| EPS (₹) | 0.01 | — | from loss |
| Operating margin | 17.8% | — | — |
📢 Recent Corporate Announcements
Anka India has received approval from the NCLT Chandigarh Bench for the Scheme of Amalgamation of its wholly-owned subsidiary, Futech Internet Private Limited, into the company. The sanction remains subject to the approval of the second motion petition by the NCLT New Delhi Bench (jurisdiction of the Transferor Company). This merger forms a critical step in Anka India's ongoing strategic business pivot toward IT and advertising services, given its historical legacy leather operations have had 0% capacity utilization. The scheme will become effective once final regulatory approvals and conditions are satisfied.
- NCLT Chandigarh Bench (Court-I) approved the Scheme of Amalgamation on October 01, 2026
- Scheme involves merger of wholly-owned subsidiary Futech Internet Private Limited into Anka India Limited
- Final effectiveness is contingent on second motion approval from NCLT New Delhi Bench
- Supports the company's planned business transition from non-operational leather to IT and advertising activities
Anka India has released its 32nd Annual Report for FY 2025-26 and scheduled its Annual General Meeting (AGM) for September 30, 2026. Key special resolutions include setting borrowing and investment limits up to ₹100 Crore each under Sections 180 and 186 of the Companies Act. The company is also seeking shareholder approval for material related party transactions up to ₹100 Crore with Wallet Circle Technologies Limited for digital advertising and IT services, alongside increasing the Managing Director's annual remuneration to ₹22.50 lakh.
- 32nd Annual General Meeting scheduled for September 30, 2026 via video conferencing.
- Proposed enabling resolution to increase borrowing powers under Section 180(1)(c) up to ₹100 Crore.
- Shareholder approval sought for material related party transactions with Wallet Circle Technologies Limited up to ₹100 Crore.
- Proposed hike in Managing Director Spark Sood's remuneration from ₹18.70 lakh to ₹22.50 lakh per annum effective April 1, 2026.
- Re-appointment of M/s R.S. Prabhu & Associates as statutory auditors for a 5-year term at ₹2.6 lakh per annum.
Anka India Ltd has published a newspaper advertisement notifying equity shareholders regarding its upcoming 32nd Annual General Meeting (AGM) to be held via Video Conferencing/Other Audio Visual Means. The notice requests shareholders to update their email IDs and contact details to facilitate electronic voting and receipt of notice. The advertisements were released in The Financial Express (English) and Jansatta (Hindi) on August 27, 2026. This is a standard statutory compliance filing with no impact on corporate financials.
- Notice published for the 32nd Annual General Meeting (AGM) to be conducted through VC/OAVM
- Advertisements issued across 2 newspapers: The Financial Express (English) and Jansatta (Hindi)
- Filing issued in compliance with MCA General Circular No. 03/2025 dated September 22, 2025 and SEBI Regulation 30(6)
Anka India reported a consolidated net profit of ₹5.20 Lakhs for Q1 FY27 on revenue of ₹2.76 Cr. The results are heavily influenced by the reverse merger with Futech Internet Private Limited, which contributed ₹1.72 Cr to the quarterly revenue. However, the statutory auditors have issued a qualified opinion, highlighting that ₹18.96 Cr in Goodwill has not been tested for impairment and questioning the recognition of ₹35.38 Lakhs in MAT credit assets given the company's history of losses.
- Consolidated Revenue from operations stood at ₹2.76 Cr for the quarter ended June 30, 2026.
- Consolidated Net Profit reached ₹5.20 Lakhs, recovering from a loss of ₹51.63 Lakhs in the preceding quarter.
- Auditors flagged ₹18.96 Cr in Goodwill recognized during consolidation that has not undergone impairment testing.
- Subsidiary Futech Internet Private Limited contributed ₹1.72 Cr to revenue and ₹4.80 Lakhs to net profit.
- Auditors questioned the prudence of carrying ₹35.38 Lakhs as a MAT credit asset due to the company's history of losses.
Anka India reported a sharp 53% YoY decline in consolidated revenue to Rs 2.76 Cr for Q1 FY27, down from Rs 5.89 Cr. While the company posted a marginal consolidated profit of Rs 5.20 Lakhs, the results are overshadowed by significant auditor qualifications. The statutory auditors flagged Rs 18.96 Cr in Goodwill that has not been tested for impairment and questioned the recognition of Rs 35.38 Lakhs in MAT credit assets given the company's history of losses. The company is currently pivoting from leather to IT services, with its subsidiary Futech Internet contributing Rs 1.72 Cr to the quarterly revenue.
- Consolidated revenue declined 53.1% YoY to Rs 2.76 Cr compared to Rs 5.89 Cr in the same quarter last year.
- Auditors issued a qualified opinion on Rs 18.96 Cr of Goodwill, which represents approximately 73% of the company's net worth.
- Subsidiary Futech Internet Private Limited contributed Rs 1.72 Cr (62% of consolidated revenue) with a small PAT of Rs 4.80 Lakhs.
- Auditors contested the recognition of Rs 35.38 Lakhs as MAT credit assets, citing it as 'not prudent' due to historical losses.
- Standalone operations remain weak with a marginal profit of only Rs 0.40 Lakhs on revenue of Rs 1.05 Cr.
Anka India Ltd has scheduled a board meeting for July 30, 2026, to consider and approve its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company is currently in a critical transition phase, pivoting from leather products to Information Technology and Advertising services. Recent financials show a declining trend, with March 2026 revenue at Rs 2.65 Cr and a net loss of Rs 0.51 Cr. Investors will be looking for signs of revenue generation from the new IT business model in these upcoming results.
- Board meeting scheduled for July 30, 2026, to approve Q1 FY27 results.
- Trading window for insiders closed from July 1, 2026, until 48 hours post-declaration.
- Company reported a net loss of Rs 0.51 Cr in the preceding quarter ended March 2026.
- Revenue in the previous quarter (March 2026) stood at Rs 2.65 Cr, down from Rs 5.89 Cr in June 2025.
- Promoter holding remains high at 91.29% as of March 2026.
Financial Performance
Revenue Growth by Segment
Revenue from operations for both FY25 and FY24 was INR 0, representing a 0% growth rate as the company has not been in active operations. Other income grew by 11.46% from INR 57.34 lakhs in FY24 to INR 63.91 lakhs in FY25.
Geographic Revenue Split
Not disclosed in available documents as the company reported zero income from operations across all regions.
Profitability Margins
Gross and Operating margins are not applicable due to zero operating revenue. Net profitability is driven entirely by other income. EBDIT decreased by 20.45% from INR 42.00 lakhs in FY24 to INR 33.41 lakhs in FY25 due to rising administrative costs.
EBITDA Margin
EBDIT margin relative to total income was 52.28% in FY25, down from 73.25% in FY24, primarily due to a 116.23% spike in administrative and other expenses.
Capital Expenditure
Gross Block increased by 7.45% from INR 2.28 lakhs in FY24 to INR 2.45 lakhs in FY25, primarily consisting of office equipment. Intangible assets under development of INR 6.99 Cr have remained stagnant for over two years.
Credit Rating & Borrowing
Not disclosed in available documents. The company reported a finance cost of INR 0.25 lakhs in FY25, representing 0.82% of total expenditure.
Operational Drivers
Raw Materials
Not applicable as the company has zero operating revenue and no active manufacturing; however, historical inventory of INR 22.50 lakhs (1.5% of fixed assets) remains idle.
Import Sources
Not disclosed in available documents due to lack of current manufacturing operations.
Key Suppliers
Not disclosed in available documents; Sundry Creditors include amounts payable to vendors for supply of goods and services, but specific names are not provided.
Capacity Expansion
Current installed capacity is not applicable as the company is non-operational. The company is pivoting toward Information Technology and Advertisement services through a proposed acquisition of a tech company.
Raw Material Costs
Raw material consumption was INR 0 in FY25 and FY24 (0% of revenue) because the company has not been in operations for several years.
Manufacturing Efficiency
Capacity utilization is 0% as the company has not been in operations for the past few years.
Logistics & Distribution
Distribution costs were 0% of revenue as there were no sales of goods or services during the period.
Strategic Growth
Growth Strategy
The company plans to achieve growth by acquiring a technology company and pivoting its business model to Information Technology and Advertisement-based activities. It has amended its Memorandum of Association to facilitate this shift and intends to use a merger to consolidate operations and reduce costs.
Products & Services
Currently none; the company is transitioning to provide Information Technology (IT) services and Advertisement-based activities.
New Products/Services
New services in the IT and Advertising sectors are planned following the acquisition of a tech company, though specific revenue contribution percentages are not yet determined.
Market Expansion
The company is exploring new markets aligned with its new IT and Advertising objects, aiming to initiate these ventures as early as possible.
Strategic Alliances
The company is in the process of acquiring a tech company and filing for a merger to consolidate operations and leverage infrastructure.
External Factors
Industry Trends
The industry is shifting toward digital and IT-based services. The company is positioning itself for this future by exiting its subsidiary (100% exit on Jan 2, 2024) and moving into the IT and Advertising space to counter cut-throat competition in its previous segments.
Competitive Landscape
The company faces intense competition from both domestic and international players, especially as FDI limits are relaxed in various sectors.
Competitive Moat
The company currently lacks a durable moat as it has been non-operational. The sustainability of its future pivot depends on the successful integration of the target tech company and the execution of its new IT strategy.
Macro Economic Sensitivity
The company is sensitive to global recessionary conditions, US tariffs on India, and the Russian Federation’s invasion of Ukraine, which affect general business sentiment and inflation.
Consumer Behavior
The company notes that domestic consumption in India remains robust, which it hopes to leverage through its new service-oriented business model.
Geopolitical Risks
Geopolitical tensions and sharp tightening of monetary policy are cited as risks that could impact the success of the company's planned pivot into the IT sector.
Regulatory & Governance
Industry Regulations
The company must comply with the Companies Act, 2013 and Ind AS. It failed to use accounting software with an audit trail (edit log) feature for the entire year, violating Rule 11 of the Companies (Audit and Auditors) Rules, 2014.
Taxation Policy Impact
The company continues to recognize MAT credit of INR 35.38 lakhs as an asset, which auditors believe is not prudent given the history of losses.
Legal Contingencies
Pending disputes include: Excise Duty penalty of INR 1,88,319 (FY 1997-98) at CESTAT; Custom Duty of INR 3,15,664 (FY 2003-04) at Commissioner of Customs; and Income Tax of INR 2,04,500 (FY 2011-12) at the Assessing Officer level.
Risk Analysis
Key Uncertainties
The primary uncertainty is the 'Going Concern' assumption, as the company has not operated for several years and has significant idle assets (INR 6.99 Cr intangibles and INR 22.50 lakhs inventory).
Third Party Dependencies
The company is highly dependent on the successful completion of its proposed merger and acquisition to restart operations.
Technology Obsolescence Risk
High risk of obsolescence for the INR 6.99 Cr intangible assets under development, as they have shown no progress for over two years.
Credit & Counterparty Risk
The company has provided an unsecured loan of INR 7.15 Cr to its erstwhile subsidiary, representing a significant counterparty credit exposure.
