Aryaman Capital Markets Ltd (538716)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Aryaman Capital's revenue was ₹9.3 Cr (-63.9% year on year, +20.7% on the previous quarter), and net profit ₹7.8 Cr (-29.0% year on year); the operating margin was 97.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹9.3 | -63.9% | +20.7% |
| Operating profit | ₹9.1 | -30.5% | +135.1% |
| Net profit | ₹7.8 | -29.0% | +81.3% |
| EPS (₹) | 6.54 | -29.0% | +81.2% |
| Operating margin | 97.6% | — | — |
📢 Recent Corporate Announcements
Aryaman Capital Markets Ltd has announced the closure of its Register of Members and Share Transfer Books from August 26, 2026, to September 01, 2026. This action is in preparation for the company's 18th Annual General Meeting (AGM) scheduled for September 02, 2026. The AGM will be conducted virtually via Video Conference or Other Audio-Visual Means. This is a standard procedural filing required by stock exchange regulations.
- 18th Annual General Meeting scheduled for September 02, 2026
- Book closure period of 7 days from August 26, 2026, to September 01, 2026
- AGM to be held through Video Conference (VC) / Other Audio-Visual Means (OAVM)
- Company maintains a zero-debt status with a net worth of Rs 108 Cr as per latest context
Aryaman Capital Markets has released its FY26 Annual Report and scheduled its 18th AGM for September 02, 2026. A key agenda item is the approval of material related party transactions (RPT) involving loans and advances up to ₹50 crore each for four group entities, totaling a potential ₹200 crore. This aggregate limit is significant, representing approximately 185% of the company's FY26 net worth of ₹108.11 crore. The company also seeks to formalize the appointment of Ronak Jain as an Independent Director for a five-year term.
- 18th Annual General Meeting scheduled for September 02, 2026, via video conferencing.
- Proposed Related Party Transaction (RPT) limit of ₹50 crore each for four group entities, totaling ₹200 crore.
- Total RPT limit of ₹200 crore represents ~185% of the company's FY26 Net Worth of ₹108.11 crore.
- FY26 Net Profit reported at ₹27.79 crore on Revenue of ₹59.08 crore.
- Appointment of Ronak Jain as Independent Director for a 5-year term until July 31, 2031.
Aryaman Capital Markets has convened its 18th Annual General Meeting (AGM) for September 02, 2026. The primary agenda includes the appointment of Ronak Jain as an Independent Director for a five-year term and the approval of significant Related Party Transactions (RPTs). The company is seeking shareholder approval for loan and inter-corporate deposit limits of ₹50 crore each for four group entities, including its holding and ultimate holding companies. These individual limits are substantial, representing approximately 46% of the company's current net worth of ₹108 crore.
- 18th Annual General Meeting scheduled for September 02, 2026, via Video Conference.
- Proposed ₹50 crore limit for loans/advances to holding company Aryaman Financial Services Limited.
- Proposed ₹50 crore limit for loans/advances to ultimate holding company Mahshri Enterprises Private Limited.
- Appointment of Ronak Jain (Chartered Accountant) as Independent Director for a 5-year term until July 2031.
- Total potential RPT exposure across four group entities capped at ₹200 crore against TTM revenue of ₹59 crore.
Aryaman Capital Markets approved its unaudited financial results for the quarter ended June 30, 2026, during a board meeting on August 10, 2026. While the specific P&L figures were not detailed in the cover letter, the company confirmed compliance with Ind-AS and received an unmodified limited review report. The board also approved material related party transactions and scheduled the 18th Annual General Meeting (AGM) for September 02, 2026. This follows a fiscal year (FY26) where revenue stood at Rs 59 Cr, a decline from Rs 77 Cr in FY25.
- 18th Annual General Meeting scheduled for September 02, 2026, via Video Conferencing
- Board meeting conducted in 60 minutes, starting at 01:30 P.M. and concluding at 02:30 P.M.
- Approval of material transactions with related parties under the Companies Act, 2013
- Limited Review Report issued by V.N. PUROHIT & CO. with an unmodified opinion for Q1 FY27
- Board's Report and annexures for the Financial Year 2025-26 formally approved
Aryaman Capital Markets approved its unaudited financial results for the quarter ended June 30, 2026, in a board meeting held on August 10, 2026. The board also approved material related party transactions and finalized the 18th Annual General Meeting (AGM) for September 2, 2026. While specific Q1 figures were not detailed in the summary text, the company maintains a strong TTM PAT of Rs 28 Cr and a high operating margin of 53.9%. The meeting was brief, lasting exactly 60 minutes.
- 18th Annual General Meeting scheduled for September 2, 2026, via video conferencing
- Board meeting conducted between 01:30 P.M. and 02:30 P.M. on August 10, 2026
- Approval of material transactions with related parties under SEBI LODR regulations
- Unaudited financial results for the quarter ended June 30, 2026, approved with a limited review report
Aryaman Capital Markets has scheduled a board meeting on August 10, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026. This follows a fiscal year (FY26) where the company generated Rs 59 crore in revenue and Rs 28 crore in PAT. Investors will likely focus on whether the company can arrest the sequential revenue decline observed over the last four quarters, where revenue fell from Rs 25.72 crore in June 2025 to Rs 7.69 crore in March 2026. The trading window for insiders is currently closed and will reopen 48 hours after the results are declared.
- Board meeting scheduled for August 10, 2026, to approve Q1 FY27 results
- Company reported a TTM revenue of Rs 59 crore and TTM PAT of Rs 28 crore
- Revenue in the most recent quarter (March 2026) stood at Rs 7.69 crore
- Trading window closed for insiders as per SEBI Prohibition of Insider Trading Regulations
- Operating profit margin remains high at 53.9% based on TTM figures
Aryaman Capital Markets has appointed Mr. Ronak Jain as an Additional Non-Executive Independent Director for a five-year term effective July 31, 2026. This appointment follows the cessation of Mr. Darshit Parikh's tenure, who completed his second consecutive term as an Independent Director. The company has also reconstituted its Nomination and Remuneration Committee to include the new appointee. Mr. Jain is a Chartered Accountant with over 10 years of experience in audit, taxation, and investment banking, which is relevant to the company's core merchant banking business.
- Appointment of Mr. Ronak Jain as Additional Non-Executive Independent Director for a 5-year term.
- Cessation of Mr. Darshit Parikh as Independent Director effective July 31, 2026, after 2 consecutive terms.
- Reconstitution of the 3-member Nomination and Remuneration Committee chaired by Ms. Kajal Chhatwal.
- New appointee Mr. Ronak Jain brings over 10 years of professional experience in finance and regulatory compliance.
Aryaman Capital Markets Ltd has appointed Mr. Ronak Jain as an Additional Non-Executive Independent Director for a five-year term effective July 31, 2026. This appointment follows the retirement of Mr. Darshit Parikh, who completed his second consecutive term as an Independent Director. Mr. Jain is a Chartered Accountant with over 10 years of experience in audit, taxation, and investment banking. The company also reconstituted its Nomination and Remuneration Committee to include the new appointee, ensuring continued regulatory compliance.
- Appointment of Mr. Ronak Jain for a 5-year term effective July 31, 2026, subject to shareholder approval.
- Cessation of Mr. Darshit Parikh as Independent Director effective July 31, 2026, upon completion of his second term.
- Mr. Ronak Jain brings over 10 years of professional experience in audit, taxation, and corporate governance.
- Nomination and Remuneration Committee reconstituted with three members: Ms. Kajal Chhatwal, Ms. Damini Baid, and Mr. Ronak Jain.
- Board meeting conducted within a 30-minute window from 10:30 A.M. to 11:00 A.M. on July 31, 2026.
Financial Performance
Profitability Margins
The company reported 0 cash losses for the financial year ended March 31, 2025, and the immediately preceding year, indicating stable core profitability despite the lack of specific margin percentages.
Credit Rating & Borrowing
The company has not taken any working capital loans from financial institutions exceeding INR 5 Crores on the security of current assets during the period covered by the report.
Operational Drivers
Raw Materials
Not applicable as the company operates in the capital markets and financial services sector.
Strategic Growth
Growth Strategy
The company focuses on maintaining a robust internal financial control system and compliance with Indian Accounting Standards (Ind AS) to ensure reliability in financial reporting. Growth is supported by a clean audit opinion and the absence of material uncertainties regarding its ability to continue as a going concern for at least one year from the audit report date.
Products & Services
Capital market services, merchant banking, and financial advisory services.
Brand Portfolio
Aryaman Capital Markets.
Strategic Alliances
The company reported having no subsidiaries, associates, or joint ventures as of March 31, 2025.
External Factors
Industry Trends
The industry is seeing a shift toward increased transparency and digital accountability, evidenced by the mandatory implementation of audit trail (edit log) facilities in accounting software for all relevant transactions.
Competitive Moat
The company's moat is built on its strong regulatory compliance framework and unmodified audit opinions, which are sustainable as long as internal financial controls remain effective (as they were as of March 31, 2025).
Regulatory & Governance
Industry Regulations
The company is subject to the Companies Act, 2013 (specifically Sections 133, 143, 177, 185, 186, and 188) and SEBI (Prohibition of Insider Trading) Regulations, 2015.
Legal Contingencies
The company has disclosed the impact of pending litigations on its financial position in Note 25 of its financial statements, though specific case values were not provided in the summary.
Risk Analysis
Key Uncertainties
Inherent limitations of internal financial controls, such as the possibility of collusion or improper management override, represent a risk that material misstatements due to error or fraud may occur.
Technology Obsolescence Risk
The company has mitigated technology risks by adopting accounting software with mandatory audit trail features and preserving records as per statutory requirements.
Credit & Counterparty Risk
The company did not have any long-term contracts, including derivative contracts, for which there were any material foreseeable losses as of March 31, 2025.
