Trustedge Capital Ltd (532056)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Trustedge Capital's revenue was ₹2.7 Cr (+248.5% year on year, +21.3% on the previous quarter), and net profit ₹0.5 Cr (against a loss a year earlier); the operating margin was 32.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹2.7 | +248.5% | +21.3% |
| Operating profit | ₹0.9 | from loss | +86.0% |
| Net profit | ₹0.5 | from loss | -29.2% |
| EPS (₹) | 0.49 | from loss | -29.0% |
| Operating margin | 32.2% | — | — |
📢 Recent Corporate Announcements
Trustedge Capital has issued notice for its 32nd Annual General Meeting (AGM) scheduled for September 24, 2026, via Video Conferencing. Key agenda items include the adoption of FY26 audited standalone financial statements and the appointment/re-appointment of directors. Notably, Mr. Narayanan Sadanandan is proposed for appointment as Non-Executive Independent Director for a 5-year term ending July 6, 2031. The cut-off date for e-voting eligibility is set for September 17, 2026.
- 32nd AGM scheduled for Thursday, September 24, 2026, at 11:00 AM IST via VC/OAVM.
- Cut-off date fixed as Thursday, September 17, 2026, for determining e-voting entitlement.
- Remote e-voting period runs from September 19, 2026 (9:00 AM IST) to September 23, 2026 (5:00 PM IST).
- Proposed appointment of Mr. Narayanan Sadanandan as Independent Director for a 5-year term (July 7, 2026 to July 6, 2031).
Trustedge Capital Limited has issued its Annual Report for FY 2025-26 and scheduled its 32nd Annual General Meeting (AGM) for September 24, 2026, via video conferencing. The cut-off date to determine voting entitlement is fixed for September 17, 2026, with remote e-voting running from September 19 to September 23, 2026. Key agenda items include the adoption of FY26 audited accounts and the appointment/re-appointment of directors. Disclosures in the notes show key managerial remuneration, including CEO salary of ₹117.68 Lakhs for FY26 compared to ₹43.75 Lakhs in FY25.
- 32nd Annual General Meeting convened for September 24, 2026, at 11:00 AM IST via VC/OAVM.
- E-voting cut-off date fixed as September 17, 2026; voting window active from September 19 to September 23, 2026.
- Shareholder resolutions include the appointment of Mr. Shail Manoj Savla as Director and Mr. Narayanan Sadanandan as Independent Director.
- Related-party disclosures report CEO remuneration of ₹117.68 Lakhs in FY26 versus ₹43.75 Lakhs in FY25.
Trustedge Capital Limited has issued notice for its 32nd Annual General Meeting scheduled to be held via video conferencing on September 24, 2026. The cut-off date for determining shareholder voting eligibility is September 17, 2026, with remote e-voting open from September 19 to September 23, 2026. Key business items include adopting FY26 financial statements, the appointment of Mr. Shail Manoj Savla as Promoter Non-Executive Director, and Mr. Narayanan Sadanandan as Independent Director for a 5-year term.
- 32nd AGM scheduled for Thursday, September 24, 2026 at 11:00 AM IST via Video Conferencing
- Cut-off date for electronic voting entitlement fixed as Thursday, September 17, 2026
- Remote e-voting window open from September 19, 2026 (9:00 AM) to September 23, 2026 (5:00 PM)
- Resolution proposed for appointing Mr. Narayanan Sadanandan as Independent Director for 5 years ending July 6, 2031
- Resolution proposed for appointing Mr. Shail Manoj Savla (holding 8,62,465 shares) as Non-Executive Director
Trustedge Capital has granted 8,250 stock options to eligible employees under its 2025 ESOP scheme. The options are exercisable at the face value of Rs 10 per share, which is a significant discount to the current market price of Rs 131.8. Given the company's market capitalization of Rs 123 Cr, the potential dilution from these 8,250 shares is negligible (less than 0.01% of total equity). The grant aims to align employee interests with long-term growth and includes a 5-year exercise window from the date of vesting.
- Grant of 8,250 stock options convertible into an equal number of equity shares of Rs 10 face value.
- Exercise price set at Rs 10 per share, significantly below the current market price of Rs 131.8.
- Exercise period defined as 5 years from the date of vesting.
- The grant was approved by the Nomination and Remuneration Committee on July 29, 2026.
Trustedge Capital has approved the grant of 8,250 stock options to employees under the "Trustedge Employee Stock Option Scheme 2025". Each option is convertible into one equity share at an exercise price of Rs 10, which is the face value. Given the current market price of Rs 131.8, this represents a significant discount for employees but a negligible dilution for shareholders. The total value of shares under this grant is approximately Rs 0.11 Cr, representing ~0.09% of the company's Rs 123 Cr market capitalization.
- Grant of 8,250 stock options convertible into equity shares
- Exercise price set at Rs 10 per share, significantly below the current price of Rs 131.8
- Exercise period extends up to 5 years from the date of vesting
Trustedge Capital approved its un-audited financial results for the quarter ended June 30, 2026. While specific quarterly P&L figures were omitted from the document extract, the filing details a significant capital infusion of Rs 26.99 Cr through a rights issue completed in the previous year. This infusion is substantial given the company's TTM revenue of only Rs 5 Cr. Additionally, the company granted 24,967 stock options to employees in May 2026, indicating a move toward talent retention as it scales its NBFC operations.
- Completed a rights issue of 33,74,428 shares at Rs 8 per share, aggregating to Rs 26.99 Cr (2,699.54 lakhs).
- Rights issue ratio was set at 49 shares for every 85 shares held as of the October 1, 2025 record date.
- Approved the grant of 24,967 stock options to eligible employees on May 12, 2026, under the TEDE ESOP 2025 scheme.
- The company remains a single-segment entity focused exclusively on NBFC activities (lending and strategic investments).
- Diluted EPS for the period has been restated to account for the impact of the rights issue and outstanding stock options.
Trustedge Capital's board approved the unaudited financial results for the quarter ended June 30, 2026. The company highlighted a significant capital infusion from a previous rights issue that raised Rs 26.99 crore by issuing 33.74 lakh shares at Rs 80 each. Additionally, the board noted the grant of 24,967 stock options to employees in May 2026. As a small-cap NBFC with TTM revenue of only Rs 5 crore, the deployment of this new capital is critical for growth.
- Approved unaudited financial results for the quarter ended June 30, 2026
- Confirmed previous rights issue of 33,74,428 shares at an issue price of Rs 80 per share
- Total capital raised via rights issue amounted to Rs 2,699.54 lakhs (Rs 26.99 Cr)
- Granted 24,967 stock options to eligible employees on May 12, 2026
- Rights issue ratio was 49 shares for every 85 shares held as of the October 1, 2025 record date
Trustedge Capital Ltd has scheduled a board meeting on July 29, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026. This follows a strong March 2026 quarter where the company reported revenue of ‡2.24 crore and a net profit of ‡0.64 crore. The trading window for the company's securities has been closed since July 1, 2026, and will reopen 48 hours after the results are announced. Given the company's small scale (TTM revenue of ‡5 crore) and high P/E ratio of 231.6, these results are critical for assessing valuation sustainability.
- Board meeting scheduled for July 29, 2026, to approve Q1 FY27 results
- Trading window closed from July 1, 2026, until 48 hours post-announcement
- Company reported a TTM revenue of ‡5 crore against a market cap of ‡125 crore
- Previous quarter (Mar 2026) saw a significant revenue jump to ‡2.24 crore from ‡1.31 crore in Dec 2025
Trustedge Capital has restructured its board effective July 7, 2026, by appointing two new directors and accepting one resignation. Most notably, Mr. Narayanan Sadanandan, a banking veteran with over 40 years of experience including a stint as MD & CEO of SBI Pension Funds, joins as an Independent Director for a 5-year term. Additionally, Mr. Shail Manoj Savla, son of the current Managing Director, has been appointed as a Promoter Non-Executive Director. These changes follow the resignation of Mrs. Vidhi Shail Savla due to time constraints.
- Appointment of Mr. Narayanan Sadanandan, a banking veteran with 40+ years of experience at SBI Group, as Independent Director.
- Mr. Sadanandan's appointment is for a fixed term of 5 years, ending July 6, 2031.
- Appointment of Mr. Shail Manoj Savla, who brings 10 years of project management and strategic planning experience, as Promoter Director.
- Resignation of Mrs. Vidhi Shail Savla from the board effective July 7, 2026, citing paucity of time.
- Board meeting conducted and concluded within 30 minutes (12:00 PM to 12:30 PM) on July 7, 2026.
Trustedge Capital has restructured its board effective July 7, 2026, by appointing Mr. Narayanan Sadanandan, a banking veteran with 40 years of experience, as an Independent Director for a 5-year term. The company also appointed Mr. Shail Manoj Savla (son of the Managing Director) as a Promoter Non-Executive Director, following the resignation of Mrs. Vidhi Shail Savla. These appointments are subject to shareholder approval at the upcoming Annual General Meeting.
- Appointment of Mr. Narayanan Sadanandan, former MD & CEO of SBI Pension Funds, for a 5-year term until July 6, 2031
- Induction of Mr. Shail Manoj Savla, an MBA from the USA with 10 years of experience in strategic planning and project management
- Resignation of Mrs. Vidhi Shail Savla from the position of Promoter Non-Executive Director effective July 7, 2026
- Board meeting conducted within 30 minutes, from 12:00 PM to 12:30 PM on July 7, 2026
Trustedge Capital has restructured its board effective July 7, 2026, by appointing Mr. Narayanan Sadanandan, a veteran banker with 40 years of experience, as an Independent Director for a 5-year term. Simultaneously, Mr. Shail Manoj Savla (son of the Managing Director) joins as a Promoter Non-Executive Director, replacing Mrs. Vidhi Shail Savla, who resigned citing time constraints. These changes are subject to shareholder approval at the upcoming Annual General Meeting and aim to strengthen the board's oversight in the NBFC sector.
- Appointment of Mr. Narayanan Sadanandan as Independent Director for a 5-year term until July 6, 2031
- Mr. Sadanandan brings 40+ years of experience, including a tenure as MD & CEO of SBI Pension Funds Private Limited
- Mr. Shail Manoj Savla, son of MD Mr. Manoj Shantilal Savla, appointed as Additional Director (Promoter, Non-Executive)
- Resignation of Mrs. Vidhi Shail Savla from the board effective closing business hours of July 7, 2026
- Board meeting conducted and concluded within 30 minutes (12:00 PM to 12:30 PM) on July 7, 2026
Financial Performance
Revenue Growth by Segment
Total income grew 5.66% YoY from INR 103.46 Lakhs in FY24 to INR 109.32 Lakhs in FY25. Segment-specific growth was not disclosed in available documents.
Profitability Margins
Net profitability was significantly impacted as EPS declined 71.3% YoY from INR 1.29 in FY24 to INR 0.37 in FY25, despite the 5.66% growth in total income.
EBITDA Margin
Not disclosed in available documents, though the sharp 71.3% drop in EPS suggests a contraction in core profitability margins.
Credit Rating & Borrowing
During FY25, the company did not take any loans from banks or financial institutions, resulting in zero bank borrowing costs for the period.
Operational Drivers
Raw Materials
Capital (Funds) is the primary raw material for the company's lending operations, representing the core input for generating interest income.
Import Sources
Not applicable as the company is a financial services provider (NBFC).
Key Suppliers
Not applicable; however, the company relies on promoter equity and potentially bank financing for its capital base.
Capacity Expansion
Not applicable for an NBFC; however, growth is tied to the expansion of the loan book and investment portfolio.
Raw Material Costs
Cost of funds is the primary operational cost. NBFCs typically face higher costs of funds than banks due to high reliance on bank financing and promoter equity, which impacts the interest spreads on loans.
Strategic Growth
Growth Strategy
Growth will be achieved through the principal business of providing loans and making strategic investments under Section 186 of the Companies Act and RBI regulations. This strategy is vital as revenue is directly linked to the volume and interest spread of the loan portfolio.
Products & Services
Loans and financial investments provided under RBI norms for Non-Banking Financial Companies.
Brand Portfolio
Trustedge Capital Limited (formerly known as Adinath Exim Resources Limited).
External Factors
Industry Trends
The NBFC sector is evolving with a focus on improved risk assessment and capital charge computation amidst a macro environment of increasing yields and tighter credit.
Competitive Landscape
The company competes with traditional banks (which have lower costs of funds) and other NBFCs in the lending and investment space.
Competitive Moat
Moat is sustained through strict adherence to RBI regulatory frameworks and an effective internal control system that safeguards assets and ensures transaction integrity.
Macro Economic Sensitivity
Highly sensitive to global economic growth, inflation sentiment, and interest rate cycles which affect borrowing demand and capital costs.
Consumer Behavior
A shift in inflation sentiment is expected to lead to a slowdown in hiring and expenditure in the business sector, potentially lowering loan demand.
Geopolitical Risks
Persistent global supply disruptions and shifts in inflation sentiment are noted as primary concerns that could restrain economic activity.
Regulatory & Governance
Industry Regulations
Operations are governed by the Reserve Bank of India Act, 1934 and the Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016.
Legal Contingencies
The company has disclosed pending litigations as of March 31, 2025, in Note 23 of the financial statements; however, specific case values in INR were not provided in the available documents.
Risk Analysis
Key Uncertainties
Exposure to economic cycles, market risk, and credit risks that could impact the ability to achieve desired financial outcomes.
Third Party Dependencies
Reliance on the financial system for future capital requirements and liquidity.
Technology Obsolescence Risk
The company has mitigated digital risks by using accounting software with an audit trail (edit log) facility to ensure the accuracy and integrity of financial records.
Credit & Counterparty Risk
The company focuses on improving sensitivity to risk assessment and methods of computation for risk weights and capital charges to manage counterparty exposure.
