Hybrid Financial Services Limited (HYBRIDFIN)
₹16.39 +1.93% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Hybrid Financial's revenue was ₹1.1 Cr (+214.7% year on year, -7.8% on the previous quarter), and net profit ₹0.6 Cr (+480.0% year on year); the operating margin was 16.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹1.1 | +214.7% | -7.8% |
| Operating profit | ₹0.2 | +800.0% | from loss |
| Net profit | ₹0.6 | +480.0% | +31.8% |
| EPS (₹) | 0.20 | +566.7% | +33.3% |
| Operating margin | 16.8% | — | — |
HYBRIDFIN delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 60.51% of the HYBRIDFIN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 77.64%. That is lower than usual for this stock. Turnover was only ₹4 lakh, so a handful of trades can move this figure. It traded 2.1 times its average daily volume.
Delivery in the last 5 sessions: 66.3% · 90.1% · 94.7% · 73.3% · 60.5%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Hybrid Financial Services Limited submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from Registrar and Share Transfer Agent, Bigshare Services Private Limited, confirms that dematerialization requests received were duly verified, accepted or rejected, and security certificates mutilated within 15 days. This is a recurring regulatory quarterly compliance filing with no impact on business operations or financials.
- Compliance certificate submitted for the quarter ended September 30, 2026
- Issued under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
- Confirmation provided by Registrar and Share Transfer Agent Bigshare Services Private Limited
- Dematerialization requests processed and member registers updated within 15 days
Hybrid Financial Services Limited released the scrutinizer's report for its 39th Annual General Meeting held on September 11, 2026. All three resolutions were approved with a 99.99% majority of votes cast (1,89,26,411 votes in favor vs 23 to 98 against). Key items passed include the adoption of FY26 financial statements, approval of a 1% dividend on preference shares, and the appointment of Mrs. Megha Jatendra Vazkar as Whole Time Director for three years effective July 1, 2026.
- Adoption of FY26 audited accounts approved with 99.99% votes in favor (1,89,26,411 votes)
- Approved dividend @ 1% on Preference Shares for FY 2025-2026
- Appointment of Mrs. Megha Jatendra Vazkar as Whole Time Director for 3 years from July 1, 2026 passed with 99.99% support
- Total of 1,89,26,434 valid votes cast across remote e-voting and AGM voting
Hybrid Financial Services Limited held its 39th Annual General Meeting on September 11, 2026, with 106+ members representing 64.09% of voting power present. Shareholders voted on adopting FY26 audited accounts and declaring a 1% dividend on Preference Shares for FY26. Additionally, the appointment of Mrs. Megha Jatendra Vazkar as Whole Time Director for a 3-year term from July 1, 2026, was placed for approval. Final voting results will be submitted to the stock exchanges within two working days.
- 39th AGM held on September 11, 2026, with 106+ members representing 64.09% voting percentage
- Approval sought for 1% dividend on Preference Shares for FY 2025-2026
- Appointment of Mrs. Megha Jatendra Vazkar as Whole Time Director for 3 years effective July 1, 2026
- Remote e-voting held between September 8, 2026, and September 10, 2026
Hybrid Financial Services Limited has received approval and membership admission as a Trading Member in the Cash Segment from BSE Limited, effective via a letter dated September 1, 2026. This follows the NCLT-approved amalgamation of its subsidiary, Maximus Securities Limited, with the company and receipt of the SEBI Single Registration Certificate. Hybrid Financial retains Member No. 471 on the BSE. This milestone formally enables the company to operate directly in stock broking and cash segment trading, which is expected to drive business expansion.
- Admitted as Trading Member in Cash Segment by BSE Limited via letter dated September 1, 2026
- Membership transferred pursuant to the merger of Maximus Securities Limited into Hybrid Financial Services
- Retains original BSE Member No. 471
- Follows prior NCLT merger approval and SEBI Single Registration Certificate receipt
Hybrid Financial Services reported a flat Total Income of ₹1.51 Cr for Q1 FY27 (ended June 2026) compared to ₹1.51 Cr in the same quarter last year. Net profit declined 21% YoY to ₹0.58 Cr from ₹0.74 Cr, primarily due to a 31% increase in employee benefit expenses to ₹47.47 Lakhs. A significant non-cash gain of ₹6.76 Cr from the remeasurement of non-current investments boosted Total Comprehensive Income to ₹7.34 Cr. The company achieved a key milestone by receiving its single SEBI registration certificate on June 17, 2026, to conduct stockbroking activities following its merger with Maximus Securities.
- Total Income remained stagnant at ₹1.51 Cr compared to the June 2025 quarter.
- Net Profit (PAT) decreased by 21% YoY to ₹58.22 Lakhs from ₹73.71 Lakhs.
- Brokerage and Commission income contributed ₹1.00 Cr, representing 66% of total income.
- Received SEBI registration certificate on June 17, 2026, for stockbroking and allied activities.
- Non-cash investment remeasurement gain of ₹6.76 Cr recorded in Other Comprehensive Income.
Hybrid Financial Services has announced its 39th Annual General Meeting (AGM) will be held on September 11, 2026, via video conferencing. The company will close its register of members from September 7 to September 11, 2026, for this purpose. As a micro-cap entity with a market capitalization of Rs 54 Cr and TTM revenue of Rs 7 Cr, this is a standard regulatory procedure. Investors should look for the upcoming annual report to assess the progress of the Maximus Securities merger, which is expected to contribute over 60% of future consolidated revenue.
- 39th Annual General Meeting scheduled for September 11, 2026, at 11:00 AM
- Book closure period set for 5 days from September 7 to September 11, 2026
- TTM revenue stands at Rs 7 Cr as the company integrates its merger with Maximus Securities
- Post-merger services expected to contribute over 60% of consolidated revenue
Hybrid Financial Services Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document confirms that all physical share certificates received for dematerialization during the quarter ended June 30, 2026, were processed within the mandated 15-day timeline. This process involves the mutilation and cancellation of physical certificates and updating the depository as the registered owner in the company's records. This is a standard administrative filing required for all listed entities to ensure the integrity of electronic shareholding.
- Compliance certificate issued for the quarter ended June 30, 2026
- Dematerialization requests were confirmed or rejected within 15 days of receipt
- Physical certificates were mutilated and cancelled after due verification by the RTA
- Registrar and Share Transfer Agent (RTA) is Bigshare Services Private Limited
Hybrid Financial Services Limited has announced the closure of its trading window for designated persons starting July 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the upcoming Un-audited Financial Results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are officially declared to the stock exchanges. The specific date for the board meeting to approve these results will be communicated at a later time.
- Trading window closure effective from Wednesday, July 1, 2026.
- Closure is related to the financial results for the quarter ended June 30, 2026.
- Window to reopen 48 hours after the declaration of results.
- Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.
- Board meeting date for results approval to be announced in due course.
Hybrid Financial Services Limited has been granted a fresh Certificate of Registration as a Stock Broker by SEBI, effective June 17, 2026. This follows the NCLT-approved merger of its subsidiary, Maximus Securities Limited, into the parent company. The new registration (INZ000335038) ensures that the stockbroking business and allied activities can continue smoothly within the parent entity without any operational break. This move completes a critical regulatory step in the company's structural consolidation.
- Received SEBI Registration Certificate No: INZ000335038 dated June 17, 2026
- Registration follows the NCLT-approved merger of subsidiary Maximus Securities Limited with the parent company
- Enables the company to carry on business as a Stock Broker and other allied activities as its principal business
- Ensures smooth transition of operations, management, and staff from the subsidiary to the parent entity
Hybrid Financial Services Limited has issued a corrigendum regarding its 39th Annual General Meeting (AGM) schedule. The meeting, originally set for September 10, 2026, has been rescheduled to Friday, September 11, 2026. Consequently, the book closure period has been adjusted to run from September 7, 2026, to September 11, 2026, inclusive of both dates. This update follows the board meeting outcome previously submitted on May 21, 2026.
- The 39th Annual General Meeting (AGM) is rescheduled to Friday, September 11, 2026
- Revised Book Closure dates are now September 7, 2026, to September 11, 2026
- The change is a correction to the board meeting outcome originally reported on May 21, 2026
Hybrid Financial Services reported a Profit After Tax (PAT) of ₹270.01 Lakhs for FY26, a decline from ₹383.69 Lakhs in the previous year. Total income decreased slightly to ₹680.54 Lakhs, while the company wrote off a rental deposit of ₹80 Lakhs dating back to 1997. The board has recommended a 1% preference dividend and approved the redemption of ₹70 Lakhs in preference shares. Additionally, the merger with Maximus Securities is now reflected in the accounts, and Mrs. Megha J. Vazkar has been appointed as Whole Time Director.
- FY26 Net Profit stood at ₹270.01 Lakhs compared to ₹383.69 Lakhs in FY25, a decrease of approximately 30%
- Total Income for the year ended March 31, 2026, was ₹680.54 Lakhs, down from ₹718.93 Lakhs YoY
- Board approved the redemption of remaining preference shares worth ₹70 Lakhs and a 1% preference dividend
- Mrs. Megha J. Vazkar appointed as Whole Time Director for 3 years starting July 2026
- The company wrote off ₹80 Lakhs related to a long-standing rental deposit dispute from 1997
Hybrid Financial Services Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ending March 31, 2026. The certificate, issued by Bigshare Services Private Limited, confirms that all dematerialization requests were processed and confirmed to the depositories. It also verifies that physical security certificates were mutilated and cancelled within the mandated 15-day period. This is a standard administrative filing that confirms the company's adherence to share registry and depository protocols.
- Compliance certificate submitted for the quarter ended March 31, 2026
- Confirmation that dematerialization requests were processed and listed on stock exchanges
- Physical certificates were mutilated and cancelled within 15 days of receipt
- Bigshare Services Private Limited acted as the Registrar and Share Transfer Agent (RTA)
Hybrid Financial Services Limited has announced the closure of its trading window for all designated persons effective from April 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of audited financial results for the quarter and year ending March 31, 2026. The trading window will remain closed until 48 hours after the financial results are made public. The company will intimate the specific date of the board meeting for result approval at a later time.
- Trading window closure for designated persons starts on April 1, 2026.
- Closure is related to the Audited Financial Results for the quarter and year ended March 31, 2026.
- The window will reopen 48 hours after the official declaration of the financial results.
- Board meeting date for result approval is yet to be announced by the company.
Hybrid Financial Services reported a Net Profit of ₹43.68 Lakhs for the quarter ended December 31, 2025, representing a sequential decline from ₹108.54 Lakhs in Q2. Total income for the quarter stood at ₹123.47 Lakhs, down from ₹184.92 Lakhs in the previous quarter. These results are the first to be presented on an amalgamated basis following the NCLT-approved merger of its subsidiary, Maximus Securities Limited. Despite lower operational profits, Total Comprehensive Income improved to ₹199.25 Lakhs due to gains on non-current investments.
- Net Profit for Q3 FY26 reached ₹43.68 Lakhs, a decrease from ₹108.54 Lakhs in the previous quarter.
- Revenue from operations declined to ₹123.22 Lakhs from ₹151.93 Lakhs in Q2 FY26.
- Total Comprehensive Income turned positive at ₹199.25 Lakhs, aided by ₹155.57 Lakhs in investment remeasurement gains.
- NCLT approved the merger of Maximus Securities Limited with the company effective from April 1, 2024.
- Basic EPS for the quarter stood at ₹0.15, down from ₹0.37 in the preceding quarter.
Hybrid Financial Services Limited has responded to a clarification request from the National Stock Exchange regarding recent significant movements in its share price. The company officially stated on February 1, 2026, that the price fluctuations are entirely market-driven and may be attributed to investor sentiment or external factors. Management confirmed that there is no undisclosed material information or pending events that have not been previously shared with the exchanges. The company maintains its commitment to SEBI (LODR) Regulations for all future material disclosures.
- NSE sought clarification on January 30, 2026, regarding unusual price volatility in company securities.
- Company responded on February 1, 2026, stating they have no control over market-driven price movements.
- Management confirmed zero undisclosed material information that could impact the share price.
- Reiterated compliance with Regulation 30 of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015.
Financial Performance
Revenue Growth by Segment
Standalone revenue from operations decreased by 11.77% YoY to INR 69.32 Lakhs in H1 FY26 from INR 78.57 Lakhs in H1 FY25. Total standalone income fell 45.15% YoY to INR 88.73 Lakhs due to a sharp decline in other income.
Geographic Revenue Split
Not specifically disclosed, but operations are primarily centered in Mumbai, Maharashtra, as per the registered office and NCLT jurisdiction.
Profitability Margins
Standalone Net Profit Margin compressed significantly from 62.98% in H1 FY25 to 28.05% in H1 FY26. This was driven by a 76.67% reduction in 'Other Income' which fell from INR 83.21 Lakhs to INR 19.41 Lakhs.
EBITDA Margin
Standalone EBITDA margin for H1 FY26 stood at approximately 28.64% (EBITDA of INR 25.41 Lakhs on Total Income of INR 88.73 Lakhs), down from 63.32% in H1 FY25, reflecting lower non-operating gains.
Capital Expenditure
Standalone purchase of fixed assets was INR 6.17 Lakhs in H1 FY26 compared to INR 0.83 Lakhs in H1 FY25, an increase of 643% as the company prepares for merger integration.
Credit Rating & Borrowing
Consolidated non-current borrowings stood at INR 70.00 Lakhs as of Sept 30, 2025, halved from INR 140.00 Lakhs in March 2025 following the redemption of preference shares.
Operational Drivers
Raw Materials
Not applicable as the company provides financial services. The primary operational cost is Employee Benefit Expenses, which totaled INR 36.04 Lakhs in H1 FY26, representing 40.6% of total standalone income.
Key Suppliers
Not applicable; however, the company utilizes professional services from firms like S. Ramanand Aiyar & Co (Statutory Auditors).
Capacity Expansion
The company is expanding its operational scope through the amalgamation with Maximus Securities Limited, which will provide access to stock exchange memberships and a broader client base.
Raw Material Costs
Not applicable. Service-related 'Other Expenditure' rose 14.18% YoY to INR 23.27 Lakhs in H1 FY26.
Manufacturing Efficiency
Not applicable. Operational efficiency is measured by the cost-to-income ratio, which worsened from 37.01% in H1 FY25 to 71.95% in H1 FY26 due to lower income.
Strategic Growth
Expected Growth Rate
15-20%
Growth Strategy
Growth will be achieved through the merger with Maximus Securities Limited (effective April 1, 2024), which allows the company to transition into a full-service financial intermediary with stock exchange memberships and expanded brokerage services.
Products & Services
Financial services, investment advisory, stock broking (via Maximus Securities), and management of investment properties (valued at INR 58.19 Lakhs).
Brand Portfolio
Hybrid Financial Services, Maximus Securities.
New Products/Services
Post-merger, the company will offer integrated stock broking and securities trading services, expected to contribute over 60% of consolidated revenue.
Market Expansion
Consolidation of operations in the Western Region (Mumbai) with plans to leverage Maximus Securities' existing client network.
Market Share & Ranking
Small-cap player in the financial services sector; the merger is intended to improve competitive positioning.
Strategic Alliances
Amalgamation with Maximus Securities Limited is the primary strategic move.
External Factors
Industry Trends
The financial services industry is shifting toward consolidation and digital-first brokerage models. The company is positioning itself by merging with a securities firm to capture higher-margin trading volumes.
Competitive Landscape
Faces intense competition from large-scale discount brokers and established full-service financial houses.
Competitive Moat
The primary moat is the regulatory licenses and stock exchange memberships held by the merging entity (Maximus Securities), which are difficult and time-consuming to acquire.
Macro Economic Sensitivity
Highly sensitive to interest rate cycles and equity market performance. Rising interest rates typically increase borrowing costs for financial service firms.
Consumer Behavior
Increasing retail participation in Indian equity markets is a positive trend for the company's post-merger brokerage business.
Geopolitical Risks
Indirect impact through global market sentiment affecting Indian equity indices and investment valuations.
Regulatory & Governance
Industry Regulations
Subject to SEBI regulations for securities trading and RBI norms for financial services. The company must comply with Rule 8A(1)(n) of the Companies (Incorporation) Rules, 2014, regarding name changes post-merger.
Environmental Compliance
Not applicable for financial services; ESG costs are negligible.
Taxation Policy Impact
Effective tax rate for H1 FY26 was 0% on a standalone basis as no tax expense was recorded against the INR 24.89 Lakhs profit.
Legal Contingencies
Pending final implementation of the NCLT Mumbai Bench order (C.P. (CAA)/135 (MB) 2025) for the amalgamation of Maximus Securities Limited into Hybrid Financial Services Limited.
Risk Analysis
Key Uncertainties
Integration risk following the merger with Maximus Securities and the potential for regulatory delays in transferring exchange memberships.
Geographic Concentration Risk
High concentration in Mumbai, Maharashtra, with 100% of physical assets and registered operations located there.
Third Party Dependencies
Dependency on stock exchanges (BSE/NSE) for operational continuity of the brokerage arm.
Technology Obsolescence Risk
Risk of falling behind larger discount brokers who invest heavily in proprietary trading platforms.
Credit & Counterparty Risk
Consolidated trade payables increased significantly to INR 141.50 Lakhs in Sept 2025 from INR 48.33 Lakhs in March 2025, indicating higher short-term liabilities.
