SPA Capital Services Ltd (542376)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, SPA Capital's revenue was ₹10.3 Cr (-3.6% year on year, -5.9% on the previous quarter); the operating margin was 14.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹10.3 | -3.6% | -5.9% |
| Operating profit | ₹1.5 | +263.4% | +101.4% |
| Operating margin | 14.5% | — | — |
📢 Recent Corporate Announcements
SPA Capital Services Limited announced the voting results and Scrutinizer's Report for its 42nd Annual General Meeting held on September 30, 2026. A total of 5 resolutions, including the adoption of audited financial statements, re-appointment of director Honey Parwal, approval of related party transactions, and appointment of independent directors, were passed. Overall voter turnout was 76.23% of outstanding shares (23,43,337 votes polled), with 99.99% voting in favour. Only 15 shareholders (6 promoter, 9 public) attended the meeting.
- All 5 resolutions approved with over 99.99% assent (23,43,280 votes in favour vs 57 against)
- Total voter turnout stood at 76.23% with 23,43,337 shares voted out of 30,74,225 outstanding shares
- Shareholder attendance was thin with only 15 shareholders present (6 promoter, 9 public)
- Resolutions passed include approval for related party transactions and appointment of two independent directors
SPA Capital Services Limited announced the voting results and Scrutinizer's Report for its 42nd Annual General Meeting held on September 30, 2026. A total of 5 resolutions, including the adoption of audited financial statements, re-appointment of director Honey Parwal, approval of related party transactions, and appointment of independent directors, were passed. Overall voter turnout was 76.23% of outstanding shares (23,43,337 votes polled), with 99.99% voting in favour. Only 15 shareholders (6 promoter, 9 public) attended the meeting.
- All 5 resolutions approved with over 99.99% assent (23,43,280 votes in favour vs 57 against)
- Total voter turnout stood at 76.23% with 23,43,337 shares voted out of 30,74,225 outstanding shares
- Shareholder attendance was thin with only 15 shareholders present (6 promoter, 9 public)
- Resolutions passed include approval for related party transactions and appointment of two independent directors
SPA Capital Services Limited announced the voting results and Scrutinizer's Report for its 42nd Annual General Meeting held on September 30, 2026. A total of 5 resolutions, including the adoption of audited financial statements, re-appointment of director Honey Parwal, approval of related party transactions, and appointment of independent directors, were passed. Overall voter turnout was 76.23% of outstanding shares (23,43,337 votes polled), with 99.99% voting in favour. Only 15 shareholders (6 promoter, 9 public) attended the meeting.
- All 5 resolutions approved with over 99.99% assent (23,43,280 votes in favour vs 57 against)
- Total voter turnout stood at 76.23% with 23,43,337 shares voted out of 30,74,225 outstanding shares
- Shareholder attendance was thin with only 15 shareholders present (6 promoter, 9 public)
- Resolutions passed include approval for related party transactions and appointment of two independent directors
SPA Capital Services has appointed Mr. Hitesh Karwa (ICAI Membership No. 545527) as its Internal Auditor for FY 2026-27, effective September 25, 2026. Mr. Karwa brings 9 years of post-qualification experience across internal audit, financial reporting, and controls. The company reported TTM revenue of Rs 21 Cr and a net profit of Rs 1 Cr, operating with a market cap of Rs 61 Cr. This is a standard statutory governance appointment with no direct financial impact.
- Appointment of Mr. Hitesh Karwa as Internal Auditor approved on September 25, 2026
- Term of appointment spans the financial year FY 2026-27
- Appointee holds 9 years of post-qualification audit and financial reporting experience
SPA Capital Services Ltd has submitted its 42nd Annual Report and AGM notice for the financial year ended March 31, 2026. The Annual General Meeting is scheduled for September 30, 2026, with book closure from September 23 to September 29, 2026. Key agenda items include approval for related-party transactions up to an aggregate limit of Rs 50 crore per financial year per party, as well as the appointment and regularization of two Independent Directors. The filing also notes that Company Secretary Ms. Vaishnavi Sharma resigned effective August 27, 2026.
- 42nd AGM scheduled for September 30, 2026 at 11:00 AM in New Delhi
- Special resolution proposed for related-party transactions up to Rs 50 Crore each financial year per related party
- Proposed appointment of Ms. Sonia Batra and regularization of Mr. Ritesh Tanwar as Independent Directors for 5-year terms
- Share transfer books and register of members closed from September 23, 2026 to September 29, 2026
SPA Capital reported a Q1 FY27 net profit of ₹0.96 Cr, up from ₹0.19 Cr in the year-ago period. However, the statutory auditor's report contains a significant 'Emphasis of Matter' stating that profits are overstated by ₹3.14 Cr due to non-provisioning of loans classified as loss assets under NBFC norms. Additionally, ₹0.19 Cr of interest expenses were not provided for, further inflating the reported profit. If these adjustments were made, the company would have reported a net loss of approximately ₹2.37 Cr for the quarter.
- Reported Net Profit of ₹0.96 Cr for Q1 FY27, compared to ₹0.19 Cr in Q1 FY26.
- Auditor identifies ₹3.14 Cr in loans as 'loss assets' for which no provision has been made, overstating assets and profits.
- Unprovided interest expenses of ₹19,14,066 (₹0.19 Cr) for the quarter ended June 30, 2026.
- Total Revenue from operations stood at ₹10.30 Cr, a slight decline from ₹10.69 Cr YoY.
- Reported EPS of ₹3.13, which does not account for the auditor-flagged discrepancies.
SPA Capital Services reported a total income of Rs 11.21 Cr for Q1 FY27, a marginal increase from Rs 10.69 Cr in Q1 FY26. While reported net profit surged to Rs 0.96 Cr from Rs 0.19 Cr YoY, the statutory auditor issued a significant 'Emphasis of Matter'. The auditor noted that the company failed to provide for Rs 3.14 Cr in 'loss assets' and Rs 0.19 Cr in interest expenses. If these provisions were made, the company would have reported a substantial net loss instead of a profit.
- Total Income for Q1 FY27 reached Rs 11.21 Cr compared to Rs 10.69 Cr in the previous year's quarter.
- Reported Net Profit stood at Rs 0.96 Cr, up from Rs 0.19 Cr in Q1 FY26.
- Auditor flagged Rs 3.14 Cr of loans as 'loss assets' under RBI guidelines that were not provided for, overstating profits by the same amount.
- Unprovided interest expenses on outstanding loans amounted to Rs 19,14,066 for the quarter.
- Basic and Diluted EPS reported at Rs 3.13, though this figure is subject to the auditor's qualifications.
SPA Capital Services Ltd has announced a board meeting on August 13, 2026, to approve unaudited financial results for the quarter ended June 30, 2026. The company is a micro-cap entity with a market capitalization of Rs 65 Cr and a high P/E ratio of 100.5. Investors should note the TTM operating margin is relatively low at 3.4%, making the upcoming quarterly performance critical for valuation support. The trading window for designated persons remains closed until 48 hours after the results are declared.
- Board meeting scheduled for August 13, 2026, at 02:00 PM
- Agenda includes approval of unaudited financial results for the quarter ended June 30, 2026
- Trading window closed until 48 hours after the result declaration
- Company reported TTM revenue of Rs 21 Cr and PAT of Rs 1 Cr
- Current Debt-to-Equity ratio stands at 1.45 as per latest context
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