Sunshine Capital Ltd (539574)
Q2 FY27 results
📅 Next results: 22 Oct 2026 (board meeting)Sunshine Capital Ltd's board meets on 22 Oct 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q1 FY27, Sunshine Capital's net interest income was ₹1.0 Cr (-49.5% year on year, +6.2% on the previous quarter), and net profit ₹1.0 Cr (-96.5% year on year).
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Net interest income | ₹1.0 | -49.5% | +6.2% |
| Net profit | ₹1.0 | -96.5% | from loss |
| EPS (₹) | 0.00 | -100.0% | — |
📢 Recent Corporate Announcements
Sunshine Capital has submitted a corrigendum to its FY2025-26 Annual Report to rectify non-financial oversights, confirming no changes to reported financial figures. The accompanying notice schedules the 32nd Annual General Meeting for September 22, 2026. Key special business items include a 10-for-1 share consolidation, merging ten Re 1 face value shares into one Rs 10 face value share, and the appointment of secretarial auditors for a four-year term.
- Corrigendum filed for FY2025-26 Annual Report with no modifications to financial numbers
- 32nd AGM scheduled for September 22, 2026 via Video Conferencing
- Proposed consolidation of 10 equity shares of face value Re 1 each into 1 equity share of Rs 10 face value
- Record/Cut-off date for AGM e-voting eligibility set as September 15, 2026
Sunshine Capital Limited submitted its 32nd Annual Report for FY 2025-26 along with the AGM notice scheduled for September 22, 2026. Key special business includes shareholder approval for consolidating existing equity shares from a face value of ₹1 each into ₹10 each (10 existing shares into 1 share). The statutory auditor reported a qualified opinion on internal financial controls, noting that some expenses were booked on a cash basis and audit trail features were not maintained in the accounting software. No dividend was proposed or paid for FY 2025-26.
- 32nd Annual General Meeting scheduled for September 22, 2026, via Video Conferencing
- Proposal to consolidate equity shares from face value of ₹1 each to ₹10 each (10:1 ratio)
- Appointment of M/s Parul Agrawal & Associates as Secretarial Auditor for a 4-year term (FY27 to FY30)
- Auditor issued a qualified opinion regarding internal financial controls and lack of audit trail software compliance
Sunshine Capital Ltd has issued the notice for its 32nd Annual General Meeting scheduled for September 22, 2026. Key special business includes a proposed consolidation of equity shares in a 10:1 ratio, converting 10 equity shares of face value ₹1 each into 1 share of face value ₹10 each. The aggregate paid-up equity capital remains unchanged. The company has set September 15, 2026, as the cut-off date for e-voting entitlement.
- Proposed 10:1 share consolidation: 10 shares of ₹1 face value to merge into 1 share of ₹10 face value
- 32nd AGM scheduled for Tuesday, September 22, 2026, at 4:00 PM via Video Conferencing
- Voting cut-off date fixed as Tuesday, September 15, 2026
- Appointment of M/s Parul Agrawal & Associates as Secretarial Auditor for a 4-year term (FY27 to FY30)
Sunshine Capital Limited announced that its Board of Directors has approved a proposal to consolidate the company's equity shares from a face value of ₹1 each into ₹10 each. The corporate action represents a 10-to-1 reverse share split and is subject to shareholder approval at the ensuing Annual General Meeting (AGM) and relevant regulatory clearances. The Board also approved the consequential alteration of the capital clause in the Memorandum of Association. This capital restructuring reduces the total share count tenfold without altering the overall equity capital base.
- Board approved consolidation of equity shares from face value ₹1 into ₹10 each (10:1 reverse split)
- Consequential alteration of the capital clause of the Memorandum of Association approved
- Implementation is subject to approval from shareholders at the ensuing AGM and statutory authorities
- Board meeting held and concluded on August 27, 2026 (5:10 PM to 5:45 PM IST)
Sunshine Capital Limited announced the appointment of Mr. Pramod Kumar Jha as Chief Financial Officer (CFO) effective August 27, 2026. The Board also recommended the appointment of M/s Parul Agrawal & Associates as Secretarial Auditor, subject to shareholder approval at the ensuing Annual General Meeting. Both appointments were approved during the board meeting concluded at 5:45 PM on August 27, 2026. This fills the Key Managerial Personnel (KMP) position for the micro-cap NBFC.
- Appointment of Mr. Pramod Kumar Jha as Chief Financial Officer effective August 27, 2026.
- Recommendation to appoint M/s Parul Agrawal & Associates (Peer Review No. 3397/2023) as Secretarial Auditor.
- Board meeting conducted and concluded between 5:10 P.M. and 5:45 P.M. on August 27, 2026.
- Appointments are subject to ratification/approval by shareholders at the upcoming AGM.
Sunshine Capital's Board of Directors has approved a proposal to consolidate the company's equity shares from a face value of ₹1 to ₹10 each, subject to shareholder approval. The Board also appointed Mr. Pramod Kumar Jha as Chief Financial Officer effective August 27, 2026, taking note of Ms. Sangeeta's resignation as CFO dated June 12, 2026. The 32nd Annual General Meeting (AGM) is scheduled for September 22, 2026, with the voting cut-off date fixed for September 15, 2026.
- Share consolidation approved: Face value ₹1 shares to be consolidated into ₹10 face value shares
- Pramod Kumar Jha appointed as new CFO effective August 27, 2026
- Noted resignation of previous CFO Ms. Sangeeta effective June 12, 2026
- 32nd AGM scheduled for September 22, 2026, with cut-off date set as September 15, 2026
Sunshine Capital Limited has scheduled a Board of Directors meeting on August 27, 2026, to consider consolidating its equity shares. The proposal entails consolidating existing shares of face value ₹1 each into shares of face value ₹10 each (a 10-to-1 reverse split). The corporate action will be subject to approval from shareholders at the upcoming Annual General Meeting and other regulatory clearances.
- Board meeting scheduled for August 27, 2026, at the company's New Delhi registered office
- Proposal to consolidate equity shares from face value ₹1 each into face value ₹10 each
- Consequential alteration in the Capital Clause of the Memorandum of Association to be considered
- Record date for the proposed consolidation to be determined and announced subsequently
Sunshine Capital Limited has submitted a formal undertaking to the BSE confirming that Regulation 32 of SEBI (LODR) Regulations, 2015, is not applicable for the quarter ended June 30, 2026. The company did not raise any capital through public, rights, or preferential issues during this period. Consequently, there are no deviations or variations in the utilization of funds to report. This is a standard procedural filing required to maintain regulatory compliance.
- Confirmed zero funds raised via public, rights, or preferential issues for the quarter ended June 30, 2026
- Statement of deviation/variation is not applicable as per Regulation 32 of SEBI (LODR)
- Undertaking signed and certified by Managing Director Surendra Kumar Jain
- The company maintains its reporting compliance with the BSE for the Q1 FY27 period
Sunshine Capital reported a standalone net profit of ₹1.02 Cr for the quarter ended June 30, 2026, a sharp decline from ₹29.45 Cr in the same period last year. This decline is primarily attributed to a high base effect, as the previous year's quarter included a massive impairment reversal of ₹27.61 Cr. Core performance also weakened, with interest income nearly halving to ₹1.03 Cr from ₹2.04 Cr YoY. Sequentially, the company returned to profitability after a loss of ₹0.06 Cr in the March 2026 quarter.
- Net Profit fell 96.5% YoY to ₹1.02 Cr from ₹29.45 Cr due to the absence of large impairment credits.
- Interest Income decreased 49.5% YoY to ₹1.03 Cr compared to ₹2.04 Cr in the year-ago period.
- Total expenses for the quarter were minimal at ₹1.84 lakhs, down from a credit-adjusted ₹27.12 Cr in Q1 FY26.
- Paid-up equity share capital remains high at ₹522.92 Cr, significantly exceeding the current market cap of ₹117 Cr.
- Auditors noted that financial results were not prepared in accordance with Ind AS standards prescribed under Section 133.
Sunshine Capital's board approved the unaudited financial results for the quarter ended June 30, 2026. The statutory auditor, VRSK & Associates, issued a limited review report stating that the results were not prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act. The company also confirmed it did not raise any funds through public or preferential issues during the quarter. Additionally, the consolidated results include its 33.22% associate stake in Hologram Holdings Private Limited.
- Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026
- Statutory auditor noted that financial results were not prepared in accordance with Ind AS standards
- Company maintains a 33.22% stake in associate entity Hologram Holdings Private Limited
- Confirmed zero deviation in fund usage as no public, rights, or preferential issues were conducted
- Top four NPA accounts previously reported at Rs 47.71 Cr, representing a significant portion of the Rs 117 Cr market cap
Sunshine Capital Ltd has scheduled a board meeting on August 13, 2026, to review and approve its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company, a micro-cap NBFC with a market capitalization of Rs 117 Cr, is coming off a fiscal year (FY26) where revenue was Rs 5.0 Cr. Investors should note that while TTM PAT stands at Rs 30 Cr, this was heavily skewed by a one-time gain in June 2025, while recent quarterly revenues have shown a declining trend from Rs 2.34 Cr to Rs 0.97 Cr. The trading window for insiders has been closed since July 1, 2026.
- Board meeting scheduled for August 13, 2026, to approve Q1 FY27 results
- Trading window closed from July 01, 2026, until 48 hours after result declaration
- Company reported TTM revenue of Rs 6 Cr against a market cap of Rs 117 Cr
- Promoter holding remains stagnant at a relatively low 19.03%
- Top four NPA accounts total Rs 47.71 Cr, representing a significant credit risk
Financial Performance
Revenue Growth by Segment
Total revenue declined by 87.97% YoY, falling from INR 7,423.01 Lacs in the previous year to INR 892.68 Lacs in FY 2024-25. Segment-specific growth percentages for trading vs. lending are not explicitly broken down in the provided text.
Geographic Revenue Split
Not disclosed in available documents; however, operations are focused on the Indian economy and financial sector.
Profitability Margins
Net loss margin improved significantly as the net loss narrowed from INR 4,721.32 Lacs to INR 68.41 Lacs, a 98.55% reduction in loss. Profit before exceptional items and tax stood at INR 126.30 Lacs (14.15% of revenue) compared to INR 103.93 Lacs (1.40% of revenue) in the prior year.
EBITDA Margin
Core profitability before exceptional items improved by 21.52% YoY to INR 1.26 Cr. The margin expansion is primarily due to the drastic reduction in total revenue while maintaining a stable operating profit base.
Capital Expenditure
The company made a significant investment of INR 189.10 Cr in an associate company, Hologram Holding Pvt. Ltd., representing a 33.22% stake as of March 31, 2025.
Credit Rating & Borrowing
Not disclosed in available documents; however, the company maintains a provision of INR 0.50 Cr for standard assets and INR 47.71 Cr for NPAs.
Operational Drivers
Raw Materials
Not applicable as the company operates in the financial services sector. Primary 'inputs' are capital and financial instruments.
Key Suppliers
Not applicable; however, the company utilizes Registrar and Share Transfer services from Skyline Financial Services Pvt. Ltd.
Capacity Expansion
Not applicable for NBFC operations; however, the company is diversifying into unsecured personal loans and corporate loans to expand its balance sheet reach.
Raw Material Costs
Not applicable; operational costs are driven by financial provisions and employee expenses.
Manufacturing Efficiency
Not applicable; the company focuses on 'lowest balance sheet risk' through third-party product distributions and 'highest balance sheet risk' through unsecured lending.
Logistics & Distribution
Not applicable; distribution is focused on financial products and services.
Strategic Growth
Growth Strategy
The company aims to achieve growth by leveraging cutting-edge technologies like AI, Machine Learning, and Blockchain to improve financial inclusion. Strategy includes diversifying revenue streams across multiple verticals, ranging from low-risk third-party product distribution to high-risk unsecured personal and corporate loans.
Products & Services
Unsecured personal loans, corporate loans, third-party financial product distribution, and share trading services.
Brand Portfolio
Sunshine Capital Limited.
New Products/Services
Focus on originating unsecured personal loans and corporate loans as part of a diversification strategy into higher-risk, higher-return balance sheet activities.
Market Expansion
Targeting greater penetration in the Indian debt market through increased securitization and selling new financial products.
Strategic Alliances
Holds a 33.22% stake in Hologram Holding Pvt. Ltd. with an investment value of INR 189.10 Cr.
External Factors
Industry Trends
The NBFC sector is evolving through digital transformation (AI/ML/Blockchain). NBFCs are playing a pivotal role in powering India's economic growth by fostering excellence in the financial ecosystem and increasing financial inclusion.
Competitive Landscape
Faces increased competition in both local and overseas financial markets, which may impact interest spreads and client acquisition costs.
Competitive Moat
Moat is built on a diversified revenue stream across multiple financial verticals and the adoption of technology for operational efficiency. Sustainability depends on maintaining regulatory compliance and managing credit risk in unsecured portfolios.
Macro Economic Sensitivity
Highly sensitive to Indian GDP growth and global fund flows; any global economic event can have a direct or indirect impact on the company's financial service operations.
Consumer Behavior
Increasing income levels in India are driving greater penetration and demand for diversified financial products.
Geopolitical Risks
Global economic developments affect fund flows into the Indian financial sector, impacting the company's ability to scale its investment and lending arms.
Regulatory & Governance
Industry Regulations
Operates under NBFC regulations; required to maintain specific disclosures for NPAs, related party transactions, and capital adequacy as per the Companies Act 2013 and SEBI (LODR) Regulations 2015.
Environmental Compliance
Not disclosed; the company mentions 'Environment responsibility' as a pillar of its corporate governance philosophy.
Taxation Policy Impact
Provision for income tax was INR 0.00 in the current year compared to INR 0.16 Cr in the previous year.
Legal Contingencies
Not disclosed in available documents; however, the company confirms no penalties or strictures were imposed by regulators during the period.
Risk Analysis
Key Uncertainties
Credit risk is a major uncertainty, evidenced by INR 47.71 Cr in Gross NPAs. Market risk from interest rate and exchange rate volatility could impact the valuation of the INR 189.10 Cr investment portfolio.
Geographic Concentration Risk
Primarily concentrated in the Indian market, specifically through its New Delhi registered office.
Third Party Dependencies
Dependent on Registrar and Share Transfer Agents (Skyline Financial Services) for shareholder services.
Technology Obsolescence Risk
Risk of falling behind in the rapidly evolving fintech space; mitigated by the stated focus on AI, ML, and Big Data analytics.
Credit & Counterparty Risk
Significant exposure to related parties, including loans of INR 22.23 Cr to Babita Jain and INR 10.54 Cr to Virendra Jain (relatives of KMP).
