Advik Capital Ltd (539773)
Q2 FY27 results
Advik Capital Ltd reported Q2 FY27 results on 15 Oct 2026: net interest income ₹-4.7 Cr, and net profit ₹-6.9 Cr (against a profit a year earlier).
| Q2 FY27 (₹ Cr) | Value | YoY vs Q2 FY26 | QoQ |
|---|---|---|---|
| Net interest income | ₹-4.7 | to loss | — |
| Operating profit | ₹-6.9 | — | — |
| Net profit | ₹-6.9 | to loss | — |
| EPS (₹) | -0.11 | to loss | — |
- Into loss: a profit a year ago
📢 Recent Corporate Announcements
Advik Capital reported consolidated revenue from operations of ₹1.90 crore (₹189.51 lakhs) for Q2 FY27, falling 66.6% YoY from ₹5.67 crore (₹567.11 lakhs) in Q2 FY26. Net loss widened substantially to ₹6.93 crore (₹693.34 lakhs) compared to a profit of ₹0.59 crore (₹58.88 lakhs) in the year-ago period. The results disclosed two critical risks: an unprovided disputed loan recovery of ₹77.43 crore from Elitecon International Limited exceeding the company's entire market cap (₹61 crore), and a PMLA provisional attachment order on personal assets of a promoter/director linked to FPI/QIP investment investigations.
- Consolidated revenue from operations fell to ₹189.51 lakhs in Q2 vs ₹567.11 lakhs in Q2 FY26
- Net loss expanded to ₹693.34 lakhs against a net profit of ₹58.88 lakhs in the prior-year period
- Initiated legal/arbitral proceedings to recover ₹77.43 crore (principal ₹64.00 crore plus interest) from Elitecon International
- PMLA provisional attachment order issued against assets of a promoter and director over foreign investment/FPI/QIP matters
- Borrowings increased sharply to ₹26,251.20 lakhs as of Sept 30, 2026, compared to ₹14,387.63 lakhs as of March 31, 2026
Advik Capital reported consolidated revenue from operations of ₹1.90 crore (₹189.51 lakhs) for Q2 FY27, falling 66.6% YoY from ₹5.67 crore (₹567.11 lakhs) in Q2 FY26. Net loss widened substantially to ₹6.93 crore (₹693.34 lakhs) compared to a profit of ₹0.59 crore (₹58.88 lakhs) in the year-ago period. The results disclosed two critical risks: an unprovided disputed loan recovery of ₹77.43 crore from Elitecon International Limited exceeding the company's entire market cap (₹61 crore), and a PMLA provisional attachment order on personal assets of a promoter/director linked to FPI/QIP investment investigations.
- Consolidated revenue from operations fell to ₹189.51 lakhs in Q2 vs ₹567.11 lakhs in Q2 FY26
- Net loss expanded to ₹693.34 lakhs against a net profit of ₹58.88 lakhs in the prior-year period
- Initiated legal/arbitral proceedings to recover ₹77.43 crore (principal ₹64.00 crore plus interest) from Elitecon International
- PMLA provisional attachment order issued against assets of a promoter and director over foreign investment/FPI/QIP matters
- Borrowings increased sharply to ₹26,251.20 lakhs as of Sept 30, 2026, compared to ₹14,387.63 lakhs as of March 31, 2026
Advik Capital Ltd has announced that its statutory auditor, M/s KSMC & Associates, Chartered Accountants, tendered their resignation effective August 15, 2026. The resignation will be placed before the Audit Committee and Board of Directors to initiate the process of filling the casual vacancy. The company operates in the NBFC space with a market capitalization of Rs 75 Cr and TTM revenue of Rs 13 Cr.
- M/s KSMC & Associates (FRN: 035565N) resigned as Statutory Auditor effective August 15, 2026
- Filing submitted under Regulation 30 of SEBI LODR Regulations dated August 17, 2026
- Board and Audit Committee to initiate steps to fill the resultant casual vacancy under Companies Act, 2013
Advik Capital Limited announced that its statutory auditor, M/s KSMC & Associates, Chartered Accountants (FRN: 035565N), has tendered their resignation effective August 15, 2026. The company stated that the resignation will be placed before the Audit Committee and the Board of Directors to fill the resulting casual vacancy pursuant to the Companies Act, 2013. The micro-cap NBFC carries a market capitalization of Rs 75 Cr with TTM revenue of Rs 13 Cr and a TTM net loss of Rs 21 Cr. Mid-term auditor exits require investor attention regarding accounting stability and governance.
- Statutory Auditor M/s KSMC & Associates (FRN: 035565N) resigned effective August 15, 2026
- Filing submitted to BSE on August 17, 2026 under SEBI LODR Regulation 30
- Casual vacancy to be filled by the Board and Audit Committee pursuant to Companies Act, 2013
Advik Capital approved its audited FY26 and Q1 FY27 results, accompanied by severe statutory auditor qualifications. The auditor flagged ₹92.40 crore in loans and ₹10.98 crore in accrued interest lacking balance confirmations, borrower financial clarity, and adequate ECL verification. In addition, the company is litigating the recovery of ₹75.69 crore (₹64.00 crore principal) from Elitecon International, which has disputed the nature of the transaction. Furthermore, the Enforcement Directorate (ED) issued a Provisional Attachment Order against assets of a promoter-director concerning foreign investment probes under PMLA.
- Auditor issued a qualified opinion over ₹92.40 crore in loans and ₹10.98 crore in accrued interest lacking verifiable borrower financial data and balance confirmations.
- Unrecovered exposure of ₹75.69 crore (principal ₹64.00 crore, accrued/penal interest ₹11.69 crore) to Elitecon International is contested in legal/arbitration proceedings.
- The Enforcement Directorate issued a Provisional Attachment Order under PMLA on personal/associated assets of a promoter-director regarding FPI/QIP investments.
- Company entered into material related-party transactions (inter-corporate deposits) without mandatory prior shareholder approval under SEBI LODR Regulation 23.
Advik Capital approved its audited FY26 and unaudited Q1 FY27 financial results accompanied by severe statutory auditor qualifications. Auditors flagged loans of ₹92.40 crore and accrued interest of ₹10.98 crore lacking balance confirmations, borrower financial records, or adequate expected credit loss provisioning. Additionally, the company disclosed material related-party transactions executed without mandatory prior shareholder approval. Disclosures also revealed ₹75.69 crore in disputed dues from Elitecon International under arbitration and a provisional ED attachment order against a promoter/director under PMLA.
- Auditors issued a qualified opinion on loans aggregating ₹92.40 crore and accrued interest of ₹10.98 crore due to lack of borrower confirmations and financial info.
- Unapproved material related-party transactions were executed during FY26 without prior shareholder consent under SEBI LODR Regulation 23.
- Financial assistance of ₹64.00 crore extended to Elitecon International (total ₹75.69 crore outstanding with interest) is under legal dispute and arbitration.
- ED issued a Provisional Attachment Order under PMLA concerning personal assets of a promoter/director regarding foreign investment investigations.
- Company appointed M/s. G Mansi & Associates as Internal Auditor for FY 2026-27.
Advik Capital approved its FY26 audited and Q1 FY27 unaudited financial results, marked by serious statutory auditor qualifications. The auditor flagged loans of ₹92.40 crore (plus ₹10.98 crore accrued interest) lacking balance confirmations and adequate evidence of recoverability, alongside unauthorized material related-party transactions. Furthermore, recovery of ₹75.69 crore in total dues from Elitecon International is contested in legal/arbitration proceedings, and the Enforcement Directorate has issued a provisional attachment order against certain promoter/director assets.
- Auditors issued a qualified opinion over ₹92.40 crore in loans and ₹10.98 crore accrued interest due to unverified borrower viability and potential ECL inadequacy
- Dispute and legal proceedings ongoing over ₹75.69 crore total outstanding dues (₹64.00 crore principal) advanced to Elitecon International
- Material related-party transactions (inter-corporate deposits) executed without requisite prior shareholder approval
- Enforcement Directorate (ED) issued a Provisional Attachment Order under PMLA covering certain promoter/director assets
Advik Capital has informed the exchange that one of its promoters, Mr. Vikas Garg, was taken into custody by the Directorate of Enforcement (ED) on July 14, 2026. The arrest is part of an ongoing investigation under the Prevention of Money Laundering Act (PMLA), 2002, concerning transactions involving foreign entities and FPIs. This follows previous disclosures regarding the same matter on April 19, 2025, and June 23, 2026. While the company states there is no material impact on current operations, the arrest of a promoter is a significant governance event for an NBFC.
- Promoter Mr. Vikas Garg taken into custody on July 14, 2026, by the Enforcement Directorate.
- Investigation relates to PMLA proceedings involving foreign entities and SEBI-registered FPIs.
- The company has issued two prior disclosures on this matter dated April 19, 2025, and June 23, 2026.
- Stock price has declined 26.2% over the last 3 months and 19.5% over the last 12 months.
- Company claims business operations continue in the ordinary course with no material impact.
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