Gamco Ltd (540097)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Gamco's revenue was ₹114 Cr (+106.4% year on year, +55.5% on the previous quarter), and net profit ₹32.4 Cr (+116.2% year on year); the operating margin was 35.7%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹114 | +106.4% | +55.5% |
| Operating profit | ₹40.5 | +84.0% | from loss |
| Net profit | ₹32.4 | +116.2% | from loss |
| EPS (₹) | 6.00 | +119.8% | from loss |
| Operating margin | 35.7% | — | — |
📢 Recent Corporate Announcements
Gamco Ltd has extended the completion timeline for acquiring an additional 15% stake in Elika Realestate Private Limited from September 30, 2026, to December 31, 2026. The acquisition consideration is up to Rs 5.50 lakhs in cash, which will increase Gamco's total equity holding to 60%, granting control. Elika Realestate is a related party (with up to 5% being acquired from the promoter group) and reported NIL turnover for FY24, FY25, and FY26. Given the acquisition size of under Rs 6 lakhs against Gamco's Rs 255 Cr market cap, the financial materiality is negligible.
- Completion deadline extended from 30th September, 2026 to 31st December, 2026
- Acquisition of an additional 15% equity stake for a cash consideration of up to Rs 5.50 lakhs
- Aggregate equity holding post-acquisition to reach 60% with control acquired
- Target company reported NIL turnover for FY24, FY25, and FY26
- Related-party transaction involving up to 5% stake purchase from the promoter group
Gamco Limited has issued communications under Regulation 36(1)(b) of SEBI LODR to physical and non-email-registered shareholders providing the weblink to access its FY26 Annual Report and Notice of the 44th AGM. The 44th Annual General Meeting is scheduled to be held on September 16, 2026, at 11:30 AM IST in Kolkata. The shareholder list was determined based on the BENPOS date of August 14, 2026. This is a standard statutory compliance filing with no impact on business operations or financials.
- 44th Annual General Meeting scheduled for September 16, 2026, at 11:30 AM IST
- Notice and FY26 Annual Report access links dispatched to shareholders without registered emails as of August 14, 2026 (BENPOS date)
- AGM venue set at Hindusthan Club Limited, Sarat Bose Road, Kolkata, West Bengal
Gamco Ltd has scheduled its 44th Annual General Meeting (AGM) for the financial year 2025-26 on Wednesday, September 16, 2026, at 11:30 AM IST in Kolkata. The company has fixed September 9, 2026, as the record date/cut-off date for determining shareholder voting rights. Consequently, the Register of Members and Share Transfer Books will remain closed from September 10, 2026, to September 16, 2026 (both days inclusive).
- 44th Annual General Meeting scheduled for September 16, 2026 at 11:30 AM IST
- Record date / cut-off date fixed as September 9, 2026
- Book closure period scheduled from September 10, 2026 to September 16, 2026 (both days inclusive)
- Filing applies to equity shares of face value Re. 2/- each
Gamco Limited has submitted its Annual Report for FY 2025-26 and convened its 44th Annual General Meeting (AGM) for September 16, 2026. The record date (cut-off date) for voting eligibility has been set as September 9, 2026, with book closure from September 10 to September 16, 2026. For FY26, the company reported annual revenue of ₹27,878.56 Lakh (up from ₹5,096.94 Lakh in FY25) alongside a net loss of ₹4,499.94 Lakh compared to a PAT of ₹516.28 Lakh in FY25. The widened loss was driven primarily by unrealized valuation losses, higher finance costs, and trading expenses.
- 44th AGM scheduled for September 16, 2026, with cut-off date set on September 9, 2026
- FY26 revenue expanded to ₹27,878.56 Lakh compared to ₹5,096.94 Lakh in FY25
- Net loss of ₹4,499.94 Lakh in FY26 versus a profit of ₹516.28 Lakh in FY25
- EBITDA declined to a loss of ₹2,529.81 Lakh in FY26 from positive ₹1,539.68 Lakh in FY25
- Debt-equity ratio stood at 2.32x as of March 31, 2026
Gamco Ltd has released the notice and Annual Report for its 44th Annual General Meeting scheduled for 16th September 2026. The cut-off / record date for voting entitlement has been fixed as 9th September 2026, with the register of members closed from 10th to 16th September 2026. The accompanying annual performance highlights FY26 revenue of ₹27,878.56 lakh compared to ₹5,096.94 lakh in FY25, alongside a net loss of ₹4,499.94 lakh driven by valuation adjustments and finance costs.
- 44th Annual General Meeting scheduled for Wednesday, 16th September 2026 at 11:30 AM IST.
- Record / Cut-off date fixed as 9th September 2026 for shareholder voting eligibility.
- Share transfer books closed from 10th September 2026 to 16th September 2026.
- FY26 total revenue stood at ₹27,878.56 Lakh compared to ₹5,096.94 Lakh in FY25.
- FY26 PAT reported a loss of ₹4,499.94 Lakh versus a profit of ₹516.28 Lakh in FY25.
Gamco Ltd disclosed the scrutinizer's report for its Extra-Ordinary General Meeting (EGM) held on August 18, 2026. Shareholders approved a special resolution for the appointment of Mr. Satish Kumar Garg as a Non-Executive Independent Director. A total of 47,250,262 votes were polled, representing an 87.45% voter turnout across 54,031,500 total shares, with 99.9984% voting in favour.
- Special resolution to appoint Mr. Satish Kumar Garg as Non-Executive Independent Director passed with 99.9984% approval
- Total of 47,250,262 votes polled representing 87.4495% of total 54,031,500 outstanding shares
- Promoter and promoter group cast all 39,048,691 held shares (100%) in favour
- Public non-institutional holders cast 8,201,571 votes with 99.9905% in favour and 778 votes against
Gamco Ltd held an Extra Ordinary General Meeting (EOGM) on August 18, 2026, to seek shareholder approval for the appointment of Mr. Satish Kumar Garg (DIN: 11671752) as a Non-Executive Independent Director. Remote e-voting was held from August 15 to August 17, 2026, alongside e-voting during the meeting. Scrutinizer voting results under Regulation 44(3) will be submitted separately. The company operates in financial services with a market cap of Rs 261 Cr and TTM revenue of Rs 360 Cr.
- EOGM held on August 18, 2026, commencing at 12:30 PM and concluding at 1:10 PM IST
- Special Resolution proposed for the appointment of Mr. Satish Kumar Garg (DIN: 11671752) as Non-Executive Independent Director
- Remote e-voting was open from August 15, 2026 (9:00 AM) to August 17, 2026 (5:00 PM)
- Formal voting results to be submitted under Regulation 44(3) post receipt of the Scrutinizer's report
Gamco Ltd conducted an Extra-Ordinary General Meeting (EGM) on August 18, 2026, via video conferencing. The sole special business item was the appointment of Mr. Satish Kumar Garg (DIN: 11671752) as a Non-Executive Independent Director of the company. Remote e-voting concluded on August 17, 2026, and formal voting results under Regulation 44(3) will be declared separately following the Scrutinizer's report.
- EGM held on August 18, 2026, commenced at 12:30 PM and concluded at 1:10 PM IST
- Special Resolution proposed for the appointment of Mr. Satish Kumar Garg (DIN: 11671752) as Non-Executive Independent Director
- Remote e-voting window was open from August 15, 2026 (9:00 AM) to August 17, 2026 (5:00 PM)
- Formal voting results to be submitted under Regulation 44(3) post-receipt of Scrutinizer's report
Gamco Ltd conducted its Extra Ordinary General Meeting (EOGM) on August 18, 2026, via video conferencing to consider the appointment of Mr. Satish Kumar Garg as a Non-Executive Independent Director. Remote e-voting was conducted between August 15, 2026, and August 17, 2026, with scrutinizer Mr. Babu Lal Patni overseeing the process. The company stated that voting results under Regulation 44(3) of SEBI LODR will be submitted separately once the scrutinizer's report is finalized.
- EOGM conducted on August 18, 2026, from 12:30 PM to 1:10 PM IST
- Special Resolution proposed for the appointment of Mr. Satish Kumar Garg (DIN: 11671752) as Non-Executive Independent Director
- Remote e-voting held from August 15, 2026 (9:00 AM) to August 17, 2026 (5:00 PM)
- Scrutinizer Mr. Babu Lal Patni appointed to finalize voting outcomes
Gamco Limited has approved the preferential allotment of up to 43,05,960 equity shares of face value ₹2 each at an issue price of ₹50 per share (including a premium of ₹48) to 44 non-promoter investors, aggregating to ₹21.53 crore. The fundraise represents ~8.25% of the company's current market cap (₹261 crore) and ~12.9% of its net worth (₹167 crore). The allotment will result in a 7.38% dilution on the expanded equity capital of 5,83,37,460 shares. The issuance is subject to shareholder approval at the Annual General Meeting scheduled for September 16, 2026.
- Proposed issuance of up to 43,05,960 equity shares at ₹50 each, raising an aggregate of ₹21,52,98,000
- Issue price of ₹50 represents a modest premium over the current market price of ₹48.30
- Allotment is distributed among 44 non-promoter allottees, constituting 7.38% of post-issue share capital
- Relevant date for pricing fixed as August 17, 2026; AGM convened for September 16, 2026
- M/s V Singhi & Associates appointed as Internal Auditor for FY 2026-27
Mrs. Rashi Goenka, a member of the promoter group, acquired 15,066 equity shares of Gamco Ltd through open market transactions between August 7 and August 10, 2026. This acquisition represents a marginal 0.03% of the company's total paid-up capital, increasing her individual holding from 2.91% to 2.94%. The transaction value is approximately Rs 7.3 lakh at current market prices, which is negligible compared to the Rs 261 Cr market cap. This continues a trend of creeping promoter acquisition, with total promoter holding rising from 70.57% in September 2025 to 72.02% in June 2026.
- Acquisition of 15,066 equity shares via open market transactions.
- Individual stake increased by 0.03% to a total of 2.94%.
- Transaction occurred over a 4-day window from August 7 to August 10, 2026.
- Total paid-up equity capital consists of 5,40,31,500 shares of Rs 2 each.
Gamco Ltd has scheduled a board meeting for August 17, 2026, to consider raising funds through various instruments including equity, bonds, NCDs, and warrants. This move is significant given the company's current financial position, featuring a TTM net loss of ₹47 Cr and a high debt of ₹288 Cr. With a market cap of ₹261 Cr, any substantial equity issuance could lead to significant shareholder dilution. The company is currently loss-making (TTM EPS of -₹8.74), making capital infusion critical for its planned expansion into factoring and lease finance.
- Board meeting scheduled for August 17, 2026, to evaluate fund-raising proposals.
- Instruments under consideration include Equity, Bonds, NCDs, Warrants, and QIP.
- Company carries a debt of ₹288 Cr against a net worth of ₹167 Cr (D/E of 1.72).
- Trading window closed for designated persons from August 12 to August 19, 2026.
- TTM Net Profit stands at -₹47 Cr, following a sharp ₹49 Cr loss in the March 2026 quarter.
Rashi Goenka, a member of the promoter group, acquired 15,066 equity shares of Gamco Ltd between August 7 and August 10, 2026. This acquisition represents a marginal 0.03% increase in her individual stake, bringing it to 2.94%. The transaction was conducted through the open market. While the volume is small, it aligns with a broader trend of increasing promoter holding, which rose from 70.57% in September 2025 to 72.02% in June 2026.
- Acquisition of 15,066 equity shares via open market transactions between August 7 and August 10, 2026
- Individual stake in the company increased from 2.91% to 2.94% of the total paid-up capital
- Total post-acquisition holding for the individual stands at 15,85,697 shares
- The company maintains a total equity base of 5,40,31,500 shares of Rs. 2/- each
Gamco Ltd has finalized the acquisition of an additional 25.5% stake in Blissara Resorts Private Limited for Rs 18.21 crore, bringing its total ownership to 33.33%. Blissara Resorts, now an associate company, operates in the hospitality sector but reported a minimal turnover of only Rs 3.24 lakh in FY25. This investment represents approximately 10.9% of Gamco's net worth (Rs 167 Cr), marking a significant capital allocation toward a non-core business segment while the company is currently loss-making (TTM PAT of Rs -47 Cr).
- Acquired 25.5% additional equity for a cash consideration of Rs 18.21 crore
- Total shareholding in Blissara Resorts Private Limited reached 33.33%
- Target company reported a turnover of just Rs 3.24 lakh for FY25
- Investment value equals ~10.9% of Gamco's reported net worth of Rs 167 crore
- Gamco remains loss-making with a TTM PAT of Rs -47 crore and a D/E ratio of 1.72
Rajeev Goenka HUF, a member of the promoter group, acquired 11,000 equity shares of Gamco Ltd on August 5, 2026, through an open market transaction. This acquisition represents a marginal 0.02% of the company's total equity capital. Following the purchase, the entity's individual holding has increased from 0.15% to 0.17%. This minor transaction occurs against a backdrop of increasing promoter holding, which rose from 70.57% in September 2025 to 72.02% in June 2026.
- Acquisition of 11,000 equity shares via open market on August 5, 2026
- Entity's stake increased from 0.15% (78,923 shares) to 0.17% (89,923 shares)
- Total paid-up equity capital of the company stands at 5,40,31,500 shares of Rs 2 each
- Transaction value estimated at approximately Rs 5.45 lakh based on current market price of Rs 49.6
Financial Performance
Revenue Growth by Segment
Not disclosed in available documents. Overall Profit After Tax (PAT) excluding exceptional items decreased by 84.41% from INR 3,312.72 Lakh in FY 2023-24 to INR 516.28 Lakh in FY 2024-25.
Geographic Revenue Split
Not disclosed in available documents. The company is headquartered in Kolkata, West Bengal.
Profitability Margins
Net profit margin dropped from 16% in FY 2023-24 to 10% in FY 2024-25, a 37.5% decrease. This decline matters as it indicates higher operational or interest costs relative to revenue generation.
EBITDA Margin
EBITDA margin improved from 21.61% in FY 2023-24 to 30.21% in FY 2024-25, a 39.8% increase. This suggests improved core operational efficiency despite the drop in net profitability.
Capital Expenditure
Not disclosed in available documents. However, capital employed increased by 67.28% from INR 11,238.98 Lakh to INR 18,800.66 Lakh.
Credit Rating & Borrowing
Not disclosed in available documents. The debt-equity ratio increased significantly from 1.23 to 2.33, indicating a higher reliance on borrowed funds to fuel expansion.
Operational Drivers
Raw Materials
Capital/Funds (100% of input cost for lending operations). As an NBFC, the cost of acquiring capital is the primary operational expense.
Key Suppliers
Banks and financial institutions (unnamed) that provide the debt capital used for lending.
Capacity Expansion
Current employee strength is 8 as of March 31, 2025. Expansion is focused on service diversification rather than physical manufacturing capacity.
Raw Material Costs
Borrowing costs are the primary input. The debt-equity ratio of 2.33 suggests a high volume of debt capital is being utilized to generate revenue.
Manufacturing Efficiency
Not applicable. The company focuses on lending efficiency and credit risk mitigation.
Strategic Growth
Growth Strategy
The company plans to expand into factoring, lease finance, venture capital finance, and road transport financing. It also aims to offer securities-based lending, including loans against shares, margin funding, IPO financing, and promoter funding to diversify its portfolio.
Products & Services
Factoring, lease finance, venture capital finance, road transport financing, loans against shares, margin funding, IPO financing, and promoter funding.
Brand Portfolio
GAMCO (Formerly Visco Trade Associates Limited).
New Products/Services
Factoring and road transport financing are key new service areas expected to contribute to future revenue growth.
Market Expansion
Targeting underserved rural markets and growing urban demand for diverse financial services.
Market Share & Ranking
Not disclosed in available documents; identified as a small-sized listed NBFC under BSE.
External Factors
Industry Trends
The NBFC sector is seeing a digital shift to boost efficiency and a strong regulatory framework to foster trust. Urbanization is driving demand for diverse financial products.
Competitive Landscape
Strong competition from traditional banks and other financial institutions which often have lower capital acquisition costs.
Competitive Moat
Moat is based on its status as a listed NBFC with a commitment to strong governance and a diversified lending strategy. Sustainability depends on maintaining credit quality as debt-equity increases.
Macro Economic Sensitivity
Sensitive to India's services sector growth (8.9% in FY25) and construction sector growth (9.4% in FY25), which drive demand for financing.
Consumer Behavior
Shift toward digital financial services and rising demand for specialized financing in urban areas.
Geopolitical Risks
Economic and political conditions are cited as factors that could influence operations and credit demand.
Regulatory & Governance
Industry Regulations
Regulated by the Reserve Bank of India (RBI) and the Companies Act, 2013. Compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Legal Contingencies
The company has disclosed the impact of pending litigations on its financial position in Note 40 of the standalone financial statements.
Risk Analysis
Key Uncertainties
Market volatility affecting credit demand and default risks; policy constraints and evolving regulations adding operational costs.
Geographic Concentration Risk
Operations are primarily centered in Kolkata, West Bengal.
Third Party Dependencies
Dependency on banking institutions for debt capital and on the BSE for market listing and credibility.
Technology Obsolescence Risk
The auditor noted that the accounting software lacks database-level logging for direct data changes and does not preserve audit trail backups, posing a compliance and data integrity risk.
Credit & Counterparty Risk
Credit risks are mitigated through stringent norms evaluating borrower identity, intent, and repayment capacity.
