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Trio Mercantile & Trading Ltd (534755)

📊 BSE: 534755 🏢 Other Financial Services 📢 Latest filing: 31 Aug 2026

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Trio Mercantile's revenue was ₹0.8 Cr (+102.4% year on year, -33.1% on the previous quarter), and net profit ₹0.1 Cr (-23.1% year on year); the operating margin was -16.4%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹0.8	+102.4%	-33.1%
Operating profit	₹-0.1	loss widened	loss widened
Net profit	₹0.1	-23.1%	-23.1%
EPS (₹)	0.01	-10.0%	-10.0%
Operating margin	-16.4%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Trio Mercantile Calls 24th AGM on Sept 24; Proposes New CMD & MoA Object Alteration

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 31 Aug 2026, 09:34 PM

Trio Mercantile & Trading Ltd has issued notice for its 24th Annual General Meeting scheduled for September 24, 2026, with share transfer books closed from September 18 to September 24, 2026. Key special resolutions include appointing Mr. Kaushik Jagannath Joshi (holding an 8.89% stake) as Chairman and Managing Director for a 3-year term effective July 22, 2026. Additionally, the company seeks shareholder approval to alter its Memorandum of Association (MoA) object clause to diversify and expand revenue streams following a management transition.

24th AGM scheduled for September 24, 2026, via Video Conferencing
Book closure fixed from September 18, 2026, to September 24, 2026 (both days inclusive)
Appointment of Mr. Kaushik Jagannath Joshi (8.89% equity stake) as Chairman & Managing Director for 3 years from July 22, 2026
Proposal to alter MoA Object Clause to diversify revenue streams post-management change
Appointment of M/s. Bharat Prajapati & Co. as Secretarial Auditors for a 5-year tenure (FY27 to FY31)

💡 Track voting outcomes of the AGM resolutions on September 24, 2026, particularly regarding the MoA object clause alteration and specifics on new business segments.

Trio Mercantile Submits FY26 Annual Report; 24th AGM Scheduled for Sept 24, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Aug 2026, 09:28 PM

Trio Mercantile & Trading Ltd has submitted its 24th Annual Report for FY 2025-26 pursuant to Regulation 34(1) of SEBI LODR. The company's 24th Annual General Meeting (AGM) is scheduled to be held on September 24, 2026, via Video Conferencing. Key AGM agenda items include the formal adoption of FY26 financial statements and the approval of Mr. Kaushik Jagannath Joshi as Chairman & Managing Director for a 3-year term following a wholesale board reconstitution in July 2026.

24th AGM scheduled for Thursday, September 24, 2026, at 02:00 PM IST via VC/OAVM
Shareholders to vote on the appointment of Kaushik Jagannath Joshi as CMD for 3 years w.e.f. July 22, 2026
Wholesale board and management turnover recorded in July 2026 including resignations of former MD Deepak Mehta and CFO Hiren Kothari
Total paid-up equity share capital remains at 67,936,604 equity shares of face value Rs 2 each

💡 Monitor the AGM voting results on September 24, 2026, and observe future quarterly operational updates under the newly appointed board and management team.

Trio Mercantile Convenes 24th AGM on Sept 24, 2026; Proposes CMD Appointment & MoA Alteration

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 31 Aug 2026, 09:22 PM

Trio Mercantile & Trading Ltd has issued notice for its 24th Annual General Meeting scheduled for September 24, 2026, via video conferencing. The agenda includes the appointment of Mr. Kaushik Jagannath Joshi (holding 8.89% equity) as Chairman and Managing Director for a 3-year term effective July 22, 2026. Additionally, the company seeks shareholder approval to alter the object clause of its Memorandum of Association to diversify revenue streams following management changes. The register of members will remain closed from September 18 to September 24, 2026.

24th AGM scheduled for September 24, 2026, via Video Conferencing/OAVM
Book closure set from September 18, 2026, to September 24, 2026
Special resolution proposed to appoint Mr. Kaushik Jagannath Joshi as CMD for a 3-year term
Mr. Kaushik Joshi and Ms. Radhika Joshi hold 8.89% and 3.09% equity stakes, respectively
Alteration of MoA Object Clause proposed to expand and diversify business activities

💡 Track voting outcomes of the AGM on September 24, 2026, and watch for further disclosures regarding the specific business sectors targeted under the revised MoA object clause.

Trio Mercantile Approves MOA Alteration, Appoints New Secretarial Auditor

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 31 Aug 2026, 09:19 PM

Trio Mercantile & Trading Ltd held a Board meeting on August 31, 2026, approving a proposed alteration to the Main Object clause of its Memorandum of Association (MOA) to diversify revenue streams. The Board also noted the resignation of Secretarial Auditor Ms. Shreya Shah and approved the appointment of M/s. Bharat Prajapati & Co. effective August 31, 2026. Additionally, the company scheduled its 24th Annual General Meeting for September 24, 2026, with share transfer books closed from September 18 to September 24, 2026.

Board approved alteration of the MOA's Main Object clause to expand business activities
Appointment of M/s. Bharat Prajapati & Co. as Secretarial Auditor effective August 31, 2026
Resignation of Secretarial Auditor Ms. Shreya Shah effective August 31, 2026 due to preoccupation
24th AGM scheduled for September 24, 2026 via Video Conferencing
Book closure fixed from September 18, 2026 to September 24, 2026

💡 Track the upcoming AGM on September 24, 2026, for shareholder approval regarding the specific new business objects and details on management's diversification strategy.

Trio Mercantile Overhauls Leadership: MD, CFO, and Board Resign; New CMD Appointed

🔵 WATCH ⭐ 8/10

MANAGEMENT 📅 23 Jul 2026, 06:11 PM

Trio Mercantile & Trading Ltd has announced a near-total replacement of its leadership team effective July 22, 2026. The Managing Director, CFO, Company Secretary, and four board members (including the Chairperson) resigned simultaneously. Mr. Kaushik Jagannath Joshi has been appointed as the new Chairman and Managing Director for a 3-year term, while his daughter, Ms. Radhika Kaushik Joshi, has been appointed as the new CFO. Three new Independent Directors have also been inducted for 5-year terms, subject to shareholder approval.

6 key officials resigned on July 22, 2026, including the Managing Director, CFO, and Company Secretary.
New CMD Kaushik Jagannath Joshi appointed for a 3-year term ending July 21, 2029.
3 new Independent Directors appointed for 5-year terms ending July 21, 2031.
Related-party appointment: New CFO Radhika Kaushik Joshi is the daughter of the new CMD.
Stock has seen a 253.5% price return over the last 12 months despite lack of disclosed TTM financials.

💡 Investors should monitor for any 'Change in Control' or 'Open Offer' announcements, as a wholesale management and board replacement often signals a change in the promoter group or a major pivot in business strategy.

Complete Management Overhaul: New CMD and CFO Appointed as 6 Key Officials Resign

🔵 WATCH ⭐ 8/10

MANAGEMENT 📅 22 Jul 2026, 04:10 PM

Trio Mercantile & Trading Ltd has undergone a total management restructuring effective July 22, 2026. Six key personnel, including the Chairperson, Managing Director, CFO, and Company Secretary, resigned simultaneously. Mr. Kaushik Jagannath Joshi has been appointed as the new Chairman and Managing Director for a 3-year term, while Ms. Radhika Kaushik Joshi (his daughter) takes over as CFO. This wholesale change in leadership often signals a shift in control or strategic direction for the company.

6 senior officials resigned on July 22, 2026, including the MD, CFO, and Company Secretary
Mr. Kaushik Jagannath Joshi appointed as CMD for a 3-year term from 2026 to 2029
3 new Independent Directors appointed for 5-year terms ending July 2031
Ms. Radhika Kaushik Joshi appointed as CFO and Executive Director
New CMD brings over 30 years of experience in logistics, real estate, and trading

💡 Monitor upcoming quarterly results and any disclosures regarding a change in promoter control or business strategy under the new leadership. Investors should be cautious of the total turnover of the executive team and the related-party nature of the new CMD and CFO.

Trio Mercantile & Trading Ltd: Complete Management Overhaul with 6 Resignations and New CMD/CFO

🔵 WATCH ⭐ 8/10

MANAGEMENT 📅 22 Jul 2026, 04:03 PM

Trio Mercantile & Trading Ltd has announced a near-total replacement of its leadership team effective July 22, 2026. Six key officials, including the Managing Director, Chairperson, CFO, and Company Secretary, resigned simultaneously citing no other material reasons. The board has appointed Kaushik Jagannath Joshi as the new Chairman and Managing Director for a 3-year term, and his daughter, Radhika Kaushik Joshi, as the new CFO. Three new Independent Directors have also been inducted for 5-year terms, marking a complete shift in corporate governance.

6 key personnel resigned on July 22, 2026, including the MD, Chairperson, CFO, and Company Secretary
Kaushik Jagannath Joshi appointed as Chairman and MD for a 3-year term until July 21, 2029
Radhika Kaushik Joshi appointed as the new Chief Financial Officer (CFO)
3 new Independent Directors appointed for 5-year terms until July 21, 2031
Stock has delivered a 237.5% price return over the last 12 months despite lack of disclosed financial data

💡 Monitor the company's next financial filings and any strategic shifts under the new leadership, particularly given the family relationship between the new CMD and CFO.

Trio Mercantile Open Offer for 1.04 Cr Shares at Rs 2.40 Opens Today

🟡 NEUTRAL ⭐ 9/10

M&A 📅 22 Jul 2026, 03:10 PM

The mandatory open offer for Trio Mercantile & Trading Ltd has officially opened on July 22, 2026, following an acquisition agreement. The acquirers, led by Jitendra Kumar Yadav and others, are seeking to acquire up to 1,04,00,000 equity shares, representing 26% of the voting capital. The offer price is set at Rs 2.40 per share, which is identical to the current market price. The tendering period is scheduled to close on August 04, 2026.

Open offer to acquire up to 1,04,00,000 equity shares representing 26% of the company's voting capital
Offer price fixed at Rs 2.40 per share, payable in cash
Tendering period starts today, July 22, 2026, and ends on August 04, 2026
The offer price of Rs 2.40 represents a 0% premium over the current market price of Rs 2.40
Last date for any upward revision of the offer price was July 20, 2026

💡 Monitor the final shareholding pattern post-August 04 to see if the acquirers successfully consolidated the 26% stake. Since the offer price matches the market price, there is no immediate arbitrage benefit for retail investors.

Rs 1.10 Open Offer Price Recommended by Trio Mercantile Independent Directors

🟡 NEUTRAL ⭐ 6/10

M&A 📅 22 Jul 2026, 03:03 PM

The Committee of Independent Directors (IDC) of Trio Mercantile & Trading Ltd has recommended an Open Offer price of Rs 1.10 per share as fair and reasonable. The offer, initiated by the acquirers, aims to purchase up to 1,04,00,000 equity shares, representing 26% of the company's voting capital. Notably, the offer price of Rs 1.10 is significantly lower than the current market price of Rs 2.40. The tendering period is scheduled to run from July 24, 2026, to August 6, 2026.

Open Offer price recommended at Rs 1.10 per equity share
Offer size involves up to 1,04,00,000 equity shares, representing 26% of voting capital
Offer opening date set for July 24, 2026, and closing on August 6, 2026
IDC recommendation based on SEBI (SAST) Regulations, 2011
Current market price of Rs 2.40 is approximately 118% higher than the offer price

💡 Investors should note the significant discount of the offer price (Rs 1.10) to the current market price (Rs 2.40); tendering shares in the open offer may not be financially beneficial compared to selling in the open market.

Board Meeting Adjourned to July 22 for Appointment of MD and 3 Independent Directors

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 21 Jul 2026, 04:54 PM

Trio Mercantile & Trading Ltd has adjourned its board meeting originally scheduled for July 21, 2026, to July 22, 2026. The meeting will consider the redesignation of Mr. Kaushik Jagannath Joshi as Chairman and Managing Director for a 3-year term. Additionally, the board plans to appoint three new Independent Directors, including one woman director, for 5-year terms ending in 2031. These leadership changes are subject to final shareholder approval at the next General Meeting.

Board meeting adjourned from July 21, 2026, to July 22, 2026
Proposed 3-year term for Mr. Kaushik Jagannath Joshi as Chairman & MD (2026-2029)
Appointment of 3 Independent Directors for 5-year terms (2026-2031)
Proposed board expansion includes 1 Independent Woman Director

💡 Watch for the outcome of the reconvened meeting on July 22 and the subsequent notice for the General Meeting to confirm these appointments.

4 Management appointments to be considered as Trio Mercantile adjourns meeting to July 22

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 21 Jul 2026, 04:14 PM

Trio Mercantile & Trading Ltd has adjourned its board meeting from July 21, 2026, to July 22, 2026. The meeting is set to approve the redesignation of Mr. Kaushik Jagannath Joshi as Chairman and Managing Director for a 3-year term. Additionally, the board proposes appointing three new Independent Directors, including one woman director, for 5-year terms ending in 2031. These leadership changes are subject to final shareholder approval at an upcoming General Meeting.

Board meeting adjourned from July 21, 2026, to July 22, 2026
Proposed 3-year tenure for Mr. Kaushik Jagannath Joshi as Chairman & Managing Director
Appointment of 3 Independent Directors for 5-year terms until July 2031
Appointment of Ms. Kiran Ramchandra Shelke as Independent Woman Director
All appointments are effective from 21.07.2026, subject to shareholder approval

💡 Investors should monitor the outcome of the reconvened meeting on July 22 and the subsequent shareholder voting results to confirm the new board structure.

Board Meeting on July 21, 2026, to Appoint New Chairman and 3 Independent Directors

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 17 Jul 2026, 05:41 PM

Trio Mercantile & Trading Ltd has scheduled a board meeting for July 21, 2026, to propose significant leadership changes. The agenda includes redesignating Mr. Kaushik Jagannath Joshi as Chairman and Managing Director for a three-year term. Furthermore, the company plans to appoint three new Independent Directors, including one woman director, for five-year terms. These appointments are subject to shareholder approval at the next General Meeting.

Board meeting scheduled for July 21, 2026, to approve leadership changes.
Proposed 3-year term for Mr. Kaushik Jagannath Joshi as Chairman & Managing Director (2026-2029).
Appointment of 3 new Independent Directors for 5-year terms ending in 2031.
Includes the appointment of Ms. Kiran Ramchandra Shelke as an Independent Woman Director.

💡 Investors should monitor the outcome of the July 21 board meeting and subsequent shareholder voting to see if the new leadership provides a clearer strategic direction for the company.

Trio Mercantile Appoints 3 New Directors and Approves Q1 FY27 Financial Results

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 15 Jul 2026, 11:46 AM

Trio Mercantile & Trading Ltd has announced a significant board update, appointing three new directors effective July 14, 2026. Mr. Kaushik Jagannath Joshi and Ms. Radhika Kaushik Joshi join as Additional Executive Directors, while Mr. Jignesh Shailesh Tank joins as an Additional Non-Executive Director. Simultaneously, the board approved the unaudited financial results for the quarter ended June 30, 2026. This management shift comes amid a period of high stock price volatility, with the company recording a 241.4% return over the past 12 months.

3 new directors appointed to the board effective July 14, 2026
Board meeting concluded at 5:40 PM on July 14, 2026, to approve Q1 results
Stock has delivered a 241.4% price return over the last 12 months
Appointments include 2 Executive Directors and 1 Non-Executive Director

💡 Investors should scrutinize the Q1 FY27 financial results once fully released to determine if the company's fundamentals support its recent 241% annual price appreciation.

Trio Mercantile Q1 Revenue up 102% YoY to ₹84.99 Lacs; Net Profit dips 19% to ₹6.15 Lacs

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 14 Jul 2026, 05:32 PM

Trio Mercantile & Trading Ltd reported a 102.8% YoY increase in revenue from operations to ₹84.99 Lacs for Q1 FY27. Despite the revenue surge, net profit declined by 19.1% YoY to ₹6.15 Lacs, primarily due to a doubling of total expenses to ₹102.25 Lacs. The company also restructured its board by appointing three new directors, including two executive directors. The absolute scale of operations remains extremely small, with quarterly profits under ₹7 Lacs.

Revenue from operations grew to ₹84.99 Lacs in Q1 FY27 from ₹41.91 Lacs in Q1 FY26.
Net profit for the quarter decreased to ₹6.15 Lacs compared to ₹7.60 Lacs in the year-ago period.
Total expenses surged to ₹102.25 Lacs, driven largely by ₹82.50 Lacs in purchase of stock-in-trade.
Appointed Mr. Kaushik Jagannath Joshi and Ms. Radhika Kaushik Joshi as Additional Executive Directors.
Earnings Per Share (EPS) for the quarter stood at ₹0.009, down from ₹0.011 YoY.

💡 Investors should monitor whether the company can translate its increased trading volume (revenue) into meaningful bottom-line growth, as current margins are thin and absolute profit is negligible.

Trio Mercantile Q1 Revenue Grows 82% YoY to Rs 1.08 Cr; Net Profit Declines to Rs 6.15 Lacs

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 14 Jul 2026, 05:21 PM

Trio Mercantile & Trading Ltd reported a significant 81.8% YoY increase in total revenue to Rs 108.40 Lacs for the quarter ended June 30, 2026. However, net profit for the period declined by 19.1% YoY to Rs 6.15 Lacs, down from Rs 7.60 Lacs in the previous year's corresponding quarter. The decline in profitability was driven by a sharp rise in the purchase of stock-in-trade, which doubled to Rs 82.50 Lacs. Additionally, the company announced the appointment of three new directors, including two related executive directors.

Total Revenue increased to Rs 108.40 Lacs in Q1 FY27 from Rs 59.60 Lacs in Q1 FY26.
Net Profit for the quarter stood at Rs 6.15 Lacs compared to Rs 7.60 Lacs in the same period last year.
Purchase of stock-in-trade rose significantly to Rs 82.50 Lacs from Rs 40.99 Lacs YoY.
Appointed Mr. Kaushik Jagannath Joshi and Ms. Radhika Kaushik Joshi (related) as Additional Executive Directors.
Basic and Diluted EPS for the quarter was reported at Rs 0.009.

💡 Investors should monitor whether the company can sustain its top-line growth while improving its thin net margins (currently ~5.7%). Watch for any strategic shifts following the appointment of the new executive leadership.

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