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According to the notice dated March 25, 2026 , Onix Renewable Limited is offering a Rights Issue of equity shares. The issue is scheduled to open on Thursday, April 2, 2026 , and close on Thursday, April 16, 2026. The offer is conducted for existing members only to meet financial requirements for working capital and capital expenditure.

Key Details of the Rights Issue:

• The primary purpose of the offer is to raise capital by offering partly paid-up equity shares to eligible shareholders.
• Total Shares Offered: To offer 10,92,71,764 partly paid-up equity shares of the company.
• Face Value and Price: Each share has a face value of 10/- and is priced at 51/- per equity share, which includes a premium of 41/-.
• Rights Entitlement Ratio: The shares are offered in the ratio of 1 equity share for every 1 equity share held by eligible shareholders on the record date.
• Record Date: The Board of Directors fixed the record date as Monday, March 30, 2026.
• Total Aggregate Amount: The total amount aggregating from the issue is 557,28,59,964/-.

Payment Schedule for Rights Equity Shares:

The following table outlines the payment terms for the partly paid-up shares:

The National Stock Exchange of India (NSE) has taken a significant step toward its long-awaited initial public offering (IPO) by initiating the process to identify selling shareholders through an Offer for Sale (OFS). This development signals renewed traction in the exchange’s listing plans after years of delay.


Shareholders Invited for OFS Participation

As part of the IPO preparation, NSE has reached out to its existing shareholders, inviting them to express their willingness to participate in the OFS component. Shareholders can choose to tender part or all of their holdings, depending on the terms outlined in the offer.
The OFS route indicates that the IPO will largely consist of existing investors offloading shares rather than the company issuing fresh equity.

Deadline and Process Details

Shareholders have been asked to submit their Expression of Interest (EOI) by:
👉 April 27, 2026 (5 PM)

This step is crucial in determining the final pool of selling investors ahead of the public issue.

Eligibility Criteria for Shareholders

To participate in the OFS, shareholders must meet specific conditions:

• Shares must be fully paid-up
• Investors should have held shares continuously since June 15, 2025 (around one year prior to DRHP filing)

Additionally, shareholders who choose to sell their stake through the OFS will not be eligible to apply in the IPO as investors.

What This Means for the IPO

The move marks the formal kickoff of NSE’s IPO process, with the exchange actively identifying stakeholders willing to dilute their holdings.

Reports suggest that the IPO could be entirely OFS-driven, potentially making it one of India’s largest public offerings, with an estimated size exceeding ₹20,000 crore.

​Hindustan Power Exchange Limited reported a stable topline performance for Q3 FY26, with Total Income rising to ₹8.64 crore, compared to ₹8.22 crore in Q3 FY25, reflecting gradual improvement in trading activity on the platform.

However, profitability weakened during the quarter, with the company reporting a net loss (PAT) of ₹2.46 crore, versus a profit of ₹1.28 crore in the corresponding period last year, indicating cost pressures and evolving market dynamics.

For the nine-month period (9M FY26):

• Total Income increased to ₹36.4 crore from ₹30.27 crore YoY
• PAT stood at ₹4.42 crore, compared to ₹8.38 crore in 9M FY25

Source & Context:
These figures are derived from the Q3 earnings call transcript of PTC India Limited, which holds a 22.3% stake in Hindustan Power Exchange (HPX), providing insights into HPX’s financial performance.

Outlook:
HPX continues to focus on scaling transaction volumes and deepening market participation. With India’s power markets seeing increasing shift toward exchange-based trading, the company remains well-placed to benefit from long-term structural growth, despite near-term earnings volatility.

According to the notice dated March 5, 2026 , Kineco Limited will hold an Extraordinary General Meeting (EGM) on Wednesday, April 15, 2026. The meeting is scheduled for 12:00 PM IST and will be conducted in a hybrid mode, allowing for both physical attendance and participation via Video Conferencing (VC) or Other Audio-Visual Means (OAVM).

Key Agenda Items for the EGM:The primary purpose of the meeting is to consider and, if thought fit, approve a Scheme of Amalgamation by way of a Fast Track merger.

• Amalgamation of Subsidiary: To approve the merger of Kineco Train Tech Private Limited ('KTTPL' or Transferor Company) into Kineco Limited ('KL' or Transferee Company).
• Approval of Appointed Date: To record the Appointed Date of the amalgamation as January 1, 2026.
• Share Exchange/Swap Ratio: To approve the issuance of 01 fully paid-up Equity Share of Kineco Limited (nominal value INR 10) for every 11 fully paid-up Equity Shares held in Kineco Train Tech Private Limited.
• Increase in Authorised Share Capital: Upon the scheme becoming effective, the authorised share capital of the Transferor Company will be added to that of the Transferee Company.

EGM Logistics and Voting Information:

​

𝗗𝗼𝗲𝘀 𝗮𝗻𝘆𝗼𝗻𝗲 𝗸𝗻𝗼𝘄 𝘄𝗵𝘆 𝘁𝗵𝗲 𝘄𝗮𝘁𝗲𝗿 𝗮𝗻𝗱 𝗽𝘂𝗺𝗽 𝘀𝘁𝗼𝗰𝗸𝘀 𝘀𝘂𝗿𝗴𝗲 𝘂𝗽 𝘁𝗼 𝟮𝟬% 𝗶𝗻 𝗹𝗲𝘀𝘀 𝘁𝗵𝗮𝗻 𝟮𝟰 𝗵𝗼𝘂𝗿𝘀 𝗱𝗲𝘀𝗽𝗶𝘁𝗲 𝘁𝗵𝗲 𝗰𝘂𝗿𝗿𝗲𝗻𝘁 𝗴𝗲𝗼𝗽𝗼𝗹𝗶𝘁𝗶𝗰𝗮𝗹 𝘀𝗶𝘁𝘂𝗮𝘁𝗶𝗼𝗻?

𝗜𝗻𝗱𝗶𝗮’𝘀 ₹𝟴.𝟳 𝗟𝗮𝗸𝗵 𝗖𝗿𝗼𝗿𝗲 𝗥𝘂𝗿𝗮𝗹 𝗪𝗮𝘁𝗲𝗿 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 – 𝗔 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗮𝗹 𝗧𝗮𝗶𝗹𝘄𝗶𝗻𝗱 𝗳𝗼𝗿 𝗜𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗲𝗿𝘀

The Union Cabinet has approved the 𝗲𝘅𝘁𝗲𝗻𝘀𝗶𝗼𝗻 𝗮𝗻𝗱 𝗿𝗲𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗶𝗻𝗴 𝗼𝗳 𝘁𝗵𝗲 𝗝𝗮𝗹 𝗝𝗲𝗲𝘃𝗮𝗻 𝗠𝗶𝘀𝘀𝗶𝗼𝗻 (𝗝𝗝𝗠) 𝘂𝗻𝘁𝗶𝗹 𝗗𝗲𝗰𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟴, with the total program outlay increased to ₹𝟴.𝟲𝟵 𝗹𝗮𝗸𝗵 𝗰𝗿𝗼𝗿𝗲.The initiative now shifts from merely creating infrastructure to building a 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲, 𝘀𝗲𝗿𝘃𝗶𝗰𝗲-𝗱𝗲𝗹𝗶𝘃𝗲𝗿𝘆-𝗱𝗿𝗶𝘃𝗲𝗻 𝗿𝘂𝗿𝗮𝗹 𝗱𝗿𝗶𝗻𝗸𝗶𝗻𝗴 𝘄𝗮𝘁𝗲𝗿 𝗲𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺

The next phase of JJM will focus on:

• Expanding 𝗹𝗮𝘀𝘁-𝗺𝗶𝗹𝗲 𝘄𝗮𝘁𝗲𝗿 𝗶𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲

• Strengthening 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗺𝗮𝗶𝗻𝘁𝗲𝗻𝗮𝗻𝗰𝗲 𝗳𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸𝘀

• Digital monitoring of water systems

• Achieving 𝘂𝗻𝗶𝘃𝗲𝗿𝘀𝗮𝗹 𝗿𝘂𝗿𝗮𝗹 𝗵𝗼𝘂𝘀𝗲𝗵𝗼𝗹𝗱 𝘁𝗮𝗽 𝗰𝗼𝗻𝗻𝗲𝗰𝘁𝗶𝗼𝗻𝘀 𝗯𝘆 𝟮𝟬𝟮𝟴

For infrastructure developers working in 𝘄𝗮𝘁𝗲𝗿 𝘀𝘂𝗽𝗽𝗹𝘆, 𝗽𝗶𝗽𝗲𝗹𝗶𝗻𝗲𝘀, 𝘁𝗿𝗲𝗮𝘁𝗺𝗲𝗻𝘁 𝗽𝗹𝗮𝗻𝘁𝘀, 𝗮𝗻𝗱 𝗿𝘂𝗿𝗮𝗹 𝘂𝘁𝗶𝗹𝗶𝘁𝘆 𝘀𝘆𝘀𝘁𝗲𝗺𝘀, 𝘁𝗵𝗶𝘀 𝗿𝗲𝗽𝗿𝗲𝘀𝗲𝗻𝘁𝘀 𝗮 𝗺𝘂𝗹𝘁𝗶-𝘆𝗲𝗮𝗿 𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗮𝗹 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗯𝗮𝗰𝗸𝗲𝗱 𝗯𝘆 𝘀𝘁𝗿𝗼𝗻𝗴 𝗽𝗼𝗹𝗶𝗰𝘆 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝗮𝗻𝗱 𝗳𝘂𝗻𝗱𝗶𝗻𝗴 𝘃𝗶𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝘆.

Regional execution-focused companies are particularly well placed to benefit from this push.

Companies such as 𝗡𝗡𝗧 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗲𝗿𝘀 (𝗕𝗶𝗵𝗮𝗿), which are engaged in the development of rural water infrastructure, stand to gain from the 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝗱 𝘀𝗰𝗮𝗹𝗶𝗻𝗴 𝗼𝗳 𝗝𝗮𝗹 𝗝𝗲𝗲𝘃𝗮𝗻 𝗠𝗶𝘀𝘀𝗶𝗼𝗻 𝗽𝗿𝗼𝗷𝗲𝗰𝘁𝘀 𝗮𝗰𝗿𝗼𝘀𝘀 𝘀𝘁𝗮𝘁𝗲𝘀.

With government spending on rural utilities accelerating and execution shifting toward local players with on-ground capabilities, the 𝗻𝗲𝘅𝘁 𝗽𝗵𝗮𝘀𝗲 𝗼𝗳 𝗜𝗻𝗱𝗶𝗮’𝘀 𝗶𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗴𝗿𝗼𝘄𝘁𝗵 𝗺𝗮𝘆 𝘄𝗲𝗹𝗹 𝗯𝗲 𝗹𝗲𝗱 𝗯𝘆 𝗿𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗰𝗵𝗮𝗺𝗽𝗶𝗼𝗻𝘀 𝗶𝗻 𝘄𝗮𝘁𝗲𝗿 𝗮𝗻𝗱 𝘀𝗮𝗻𝗶𝘁𝗮𝘁𝗶𝗼𝗻 𝗶𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲.

According to the notice dated March 14, 2026, Sunday Proptech Limited (formerly known as OYO Financial and Technology Services Private Limited) will hold its 1st Extraordinary General Meeting (EGM) on Monday, April 6, 2026. The meeting is scheduled for 5:00 P.M. IST and will be conducted via Video Conferencing (VC) or Other Audio-Visual Means (OAVM).

Key Agenda Items for the EGM:

The company has proposed the following special businesses for shareholder consideration:

• Increase in Authorised Share Capital: To increase the capital from INR 200 Crore to INR 300 Crore, divided into 300 Crore equity shares of INR 1 each.
• Issuance of Bonus Shares: To issue bonus equity shares in a ratio of 3:1 (three new shares for every one held) to shareholders as of the April 17, 2026 record date.
• Private Placement of Equity Shares: To issue up to 8,69,56,521 equity shares of Rs 1 each, at a price of INR 23 per share, seeking to raise an aggregate consideration of up to INR 200 Crore.
• Alteration of Articles of Association (AOA): To adopt a new set of Articles of Association to incorporate provisions from a Shareholders' Agreement dated October 31, 2025.
  

​EGM Logistics and Voting Information

The IPO Committee of National Stock Exchange of India Limited (NSE) has approved the appointment of intermediaries for its proposed Initial Public Offering (IPO).

After a structured, transparent and competitive selection process, 20 merchant bankers have been selected, including Kotak Mahindra Capital, JM Financial, Axis Capital, IIFL Capital Services, Motilal Oswal Investment Advisors, ICICI Securities, SBI Capital Markets, Nuvama Wealth Management, HDFC Bank, Avendus Capital, Morgan Stanley India, Citigroup Global Markets India, J.P. Morgan India, HSBC Securities and Capital Markets (India), IDBI Capital Markets, 360 ONE WAM, Anand Rathi Advisors, DAM Capital Advisors, Pantomath Capital Advisors, and Equirus Capital.

Eight law firms have also been appointed, including Cyril Amarchand Mangaldas, Khaitan & Co, Latham & Watkins LLP, Sidley Austin, AZB & Partners, S&R Associates, Shardul Amarchand Mangaldas & Co, and Trilegal.

Other intermediaries selected include MUFG Intime India, Makarand M Joshi & Company, Manian & Rao, RBSA Advisors, Concept Communication Ltd, and Redseer Strategy Consultants.

These intermediaries will assist NSE with regulatory filings, due diligence, documentation, marketing, and execution of the proposed IPO in accordance with applicable regulations.

With the completion of this process, the engagement of Rothschild & Co India as the process advisor for the selection and appointment of IPO intermediaries has concluded.

​Financial Performance (Q3 FY26 vs Q3 FY25): The National Stock Exchange of India (NSE) reported a mixed financial performance in Q3 FY26, with Total Income declining 8.6% year-on-year (YoY) to ₹4,394.84 crore, compared to ₹4,806.55 crore in Q3 FY25. The moderation in revenue reflects relatively lower trading activity and normalization of market volumes compared to the elevated levels witnessed in the previous year. Profitability declined on a YoY basis primarily due to the absence of significant exceptional gains recorded in the previous year. Profit Before Tax (PBT) stood at ₹3,185.97 crore, compared to ₹4,914.70 crore in Q3 FY25, while Profit After Tax (PAT) came in at ₹2,408.75 crore, down from ₹3,833.60 crore in the corresponding quarter last year. The higher base in Q3 FY25 was largely driven by a one-time gain of approximately ₹1,155 crore from the sale of investment in associates, which inflated profitability during that period. Excluding this exceptional item, the underlying earnings performance remains strong, reflecting NSE’s resilient business model and its dominant position in India’s capital market infrastructure.

Operational Metrics (Q3 FY26 vs Q3 FY25): ​NSE’s operational performance remained resilient, with trading services continuing to drive the majority of the exchange’s revenues. Revenue from operations stood at ₹3,924.68 crore in Q3 FY26, compared to ₹4,349.41 crore in Q3 FY25, reflecting moderation in transaction-related income.
Segment-wise, trading services generated revenue of ₹3,553.89 crore, compared to ₹3,975.28 crore in Q3 FY25, highlighting the strong contribution of equity and derivatives trading activity to overall income. The clearing services segment contributed ₹410.11 crore, down from ₹640.89 crore in the previous year, while the others segment (including market data, index licensing, and technology services) generated ₹165.60 crore, slightly higher than ₹153.55 crore in Q3 FY25, reflecting continued diversification of revenue streams. Despite the decline in revenue, NSE maintained operational efficiency with total expenses at ₹1,107.31 crore, compared to ₹1,015.15 crore in the corresponding quarter last year, indicating controlled cost expansion aligned with business growth and infrastructure investments.

Strategic Developments & Outlook: NSE continues to benefit from structural growth in India’s capital markets, driven by rising retail participation, increasing derivatives trading activity, and expanding institutional investor engagement. The exchange’s diversified revenue streams—including trading services, clearing services, indices, market data, and technology platforms—provide resilience and scalability to its business model.
​
Looking ahead, NSE’s strong market leadership, robust technological infrastructure, and ongoing expansion across domestic and international market segments position it well to capitalize on the continued deepening of India’s financial markets. Sustained growth in trading volumes and the exchange’s strategic initiatives across data, analytics, and financial market services are expected to support long-term earnings visibility and value creation.

Financial Performance (Q3 FY26 vs Q3 FY25): Mohan Meakin Limited reported stable operating performance for the quarter ended 31 December 2025 (Q3 FY26). Total Revenue increased by 9.5% year-on-year (YoY) to ₹902.49 Crore, compared to ₹823.92 Crore in Q3 FY25. Profit After Tax (PAT) rose significantly by 71.5% YoY to ₹70.16 Crore, compared with ₹40.91 Crore in Q3 FY25. The strong improvement in profitability reflects better operational efficiency and cost management during the quarter. Earnings Per Share (EPS) for the quarter increased to ₹82.46, compared with ₹48.08 in the corresponding quarter of the previous year.

Operational Metrics (Q3 FY26 vs Q3 FY25): Operational performance during the quarter showed controlled cost growth alongside higher revenue. Total expenses increased to ₹808.19 Crore, compared with ₹769.05 Crore in Q3 FY25. Cost of raw materials and components consumed stood at ₹106.3 Crore, broadly in line with the ₹85.65 Crore reported in the same quarter last year. Employee benefit expenses rose to ₹16.5 Crore, compared with ₹13.3 Crore a year earlier, while finance costs increased to ₹0.21 Crore from ₹0.17 Crore in Q3 FY25. Despite these increases, the company maintained a healthy Profit Before Tax (PBT) of ₹93.9 Crore, reflecting strong operational performance and improved margins during the quarter.

Strategic Developments: Mohan Meakin Limited is strategically shifting towards premiumization to enhance its operating profit margins (OPM) and appeal to a younger, higher-spending demographic. Historically known for its mass-market, budget-friendly brands like Old Monk rum, the company is diversifying its portfolio by introducing premium brands in the gin, vodka, and whiskey segments.

India's logistics ecosystem is quietly expanding beyond trucking and warehouse operators. A new group of companies focused on global shipping, forwarding and air freight cargo logistics will become an important backbone of international trade. One such company that is poised and gearing up to tap the public markets is Skyways Air Services Limited, which is now decided and slated to go public on March 18, 2026.

Skyways Group founded by 𝗦.𝗟 𝗦𝗵𝗮𝗿𝗺𝗮 has consistently ranked among India’s top air-freight forwarders, handling large export volumes for industries like pharma, electronics, retail, and fast-moving manufacturing.  Mr. Yashpal Sharma is now the Chairman and Managing Director and has played a significant role in the company's growth.

Skyways Air Services began its journey as a custom agent (CHA), a service provider that handles customs clearance for importers and exporters. Over the decades, the company has expanded into a full-service freight forwarding and logistics platform, helping companies move goods across international borders. 

The company has reported a significant increase in revenue over the last two financial years.

• FY25 Revenue: ₹2,270 crore

• FY24 Revenue:  ₹1,316 crore

• FY25 Profit: ₹48 crore

• FY24 Profit: ₹34 crore

Export-oriented sectors such as pharmaceuticals, electronics, textiles, and engineering goods have increasingly relied on air cargo logistics to meet tight delivery schedules.

Today, the company operates in an emerging segment often referred to as "asset-light logistics".  And moreover, instead of owning planes aircrafts and ships, it manages the flow of cargo in coordination with airlines, shipping companies, freight and trucking networks and customs authorities.

Notice is hereby given that the Extra-Ordinary General Meeting (“EGM”) of the Members of Kineco Limited will be held on Monday, March 02, 2026 at 4:00 P.M. (IST) at Plot No. 41, Pilerne Industrial Estate, Pilerne, Bardez, Goa – 403511 and through Video Conferencing (“VC”)/Other Audio-Visual Means (“OAVM”), to transact the following businesses:

Special Business:

To consider and, if thought fit, to pass, with or without modification(s), the following resolutions:

• Appointment of Group Chief Executive Officer and Executive Director
  Approval for appointment of Mr. Vivek Srivastava (DIN: 09294944) as Group Chief Executive Officer and Executive Director of the Company for a period of five (5) years commencing from January 01, 2026 to December 31, 2031, not liable to retire by rotation, along with the remuneration and terms approved by the Board of Directors pursuant to Sections 196, 197, 203 and other applicable provisions of the Companies Act, 2013.
  
• Approval of Additional Corporate Guarantee
  Approval for providing an additional corporate guarantee of ₹7 crore (in addition to the existing guarantee of ₹5 crore) in favour of HDFC Bank Ltd. to secure the loan facility availed by Kineco Exel Composites India Private Limited, aggregating the total guarantee amount to ₹12 crore.
  
• Approval of Transactions under Section 185 of the Companies Act, 2013
  Approval for the Board of Directors to provide loans, guarantees, or securities up to an aggregate amount of ₹25 crore to subsidiaries, associate companies, joint ventures, or other entities in which directors are interested, subject to applicable provisions of the Companies Act, 2013.
• Alteration of Articles of Association
  Approval for alteration of the Articles of Association of the Company to enable issuance of sweat equity shares and Employee Stock Option Plans (ESOPs) subject to provisions of the Companies Act, 2013.
  
• Approval of ‘Kineco Employee Stock Option Plan 2026’ (ESOP 2026)
  Approval for introduction and implementation of the Kineco Employee Stock Option Plan 2026, authorizing the Board to grant up to 1,49,395 employee stock options, each convertible into one equity share of face value ₹10, to eligible employees of the Company.
  
• Approval for Office or Place of Profit
  Approval for Mr. Prashant Naik (DIN: 01866113), Non-Executive Director of the Company, to hold an office or place of profit as an employee of the Company under the terms and remuneration approved by the Board.

Instruction At Glance

Financial Performance (Q3 FY26 vs Q3 FY25): ​Frick India Ltd reported a steady financial performance in Q3 FY26, with Total Income increasing by 7.64% year-on-year (YoY) to ₹136.97 crore, compared to ₹127.58 crore in Q3 FY25. This top line growth reflects stable demand for the company’s industrial refrigeration and air conditioning systems and continued execution across its core business segments. The company reported a Profit Before Exceptional Items and Tax of ₹14.36 crore, compared to ₹13.70 crore in the corresponding quarter last year. However, Profit After Tax (PAT) declined to ₹8.28 crore, compared to ₹10.49 crore in Q3 FY25, primarily due to the impact of an exceptional expense of ₹3.22 crore recorded during the quarter related to labour code provisions

Operational Metrics (Q3 FY26 vs Q3 FY25): ​Frick India’s revenue growth was driven by continued strength in its core manufacturing operations. Revenue from Operations increased to ₹133.91 crore in Q3 FY26, compared to ₹125.12 crore in Q3 FY25, reflecting stable order execution and demand momentum. Other Income also improved to ₹3.06 crore from ₹2.45 crore in the previous year, supporting overall income growth. On the cost front, total expenses increased to ₹122.62 crore, compared to ₹113.88 crore in Q3 FY25, primarily due to higher material consumption and employee-related costs in line with business expansion. Despite the exceptional expense impact, the company maintained operational profitability, highlighting the resilience of its core business model.

Strategic Developments & Outlook: Frick India continues to strengthen its operational capabilities while adapting to regulatory changes, including the implementation of new labour codes, which resulted in a one-time exceptional expense during the quarter. The company remains focused on improving efficiency, executing its order book, and enhancing profitability. With its established presence in industrial refrigeration and continued demand from core industrial sectors, Frick India remains well-positioned to sustain stable revenue growth over the long term. Its strong manufacturing capabilities and industry positioning are expected to support continued operational performance and shareholder value creation.

Financial Performance (Q3 FY26 vs Q3 FY25): Parag Parikh Financial Advisory Services Ltd reported a robust financial performance in Q3 FY26, with Total Income increasing by 66.42% year-on-year (YoY) to ₹169.35 crore, compared to ₹101.8 crore in Q3 FY25. This strong top line growth reflects expansion in the company’s core asset management and advisory operations, supported by higher fee income and investment-related gains. The company delivered substantial profitability growth, with Profit Before Tax rising to ₹131.12 crore, up from ₹84.53 crore in the corresponding quarter last year. Profit After Tax (PAT) also increased significantly to ₹98.64 crore, compared to ₹50.98 crore in Q3 FY25, reflecting strong operating leverage and improved earnings momentum.

Operational Metrics (Q3 FY26 vs Q3 FY25): ​PPFAS’s revenue growth was primarily driven by strong performance across its fee-based income streams. Fee and commission income rose sharply to ₹151.62 crore in Q3 FY26, compared to ₹101.18 crore in Q3 FY25, highlighting sustained growth in assets under management and advisory mandates. Net gain on fair value changes also increased significantly to ₹17.59 crore, up from ₹0.54 crore in the previous year, further supporting overall income growth. Despite higher employee and operating expenses in line with business expansion, the company maintained strong profitability, reflecting the scalability and efficiency of its asset-light business model.

Strategic Developments & Outlook: PPFAS continues to benefit from structural tailwinds in the asset management industry, supported by rising investor participation and growth in managed assets. The company’s strong increase in fee-based income and fair value gains highlights improving operational momentum and earnings visibility. With its scalable platform, strong profitability profile, and consistent growth in core income streams, PPFAS remains well-positioned to sustain its financial performance. Continued expansion in its asset management and advisory businesses is expected to support long-term revenue growth and enhance shareholder value.

Financial Performance (Q3 FY26 vs Q3 FY25): Midland Microfin Limited reported a strong improvement in profitability in Q3 FY26, supported by higher operational revenue and fee income. Total revenue from operations increased by 10.3% year-on-year (YoY) to ₹1,657.43 million, compared to ₹1,503.14 million in Q3 FY25, driven by growth in interest income and fees. Total income (including other income) also improved during the quarter, aided by an increase in other income sources. Profit After Tax (PAT) rose significantly by 74.5% YoY to ₹83.22 million, compared with ₹47.68 million in the corresponding quarter last year, reflecting better operational performance despite increased impairment costs. Earnings Per Share (EPS) increased to ₹1.59 from ₹0.77 in Q3 FY25, indicating improved shareholder profitability.

Operational Metrics (Q3 FY26 vs Q3 FY25): Operational performance remained resilient during the quarter. The net profit margin stood at 4.94%, reflecting the company's ability to maintain margins amidst operational costs. The impairment on financial instruments remained elevated at ₹323.77 million, compared to ₹138.61 million a year ago, indicating a cautious approach to provisioning for potential credit risks. Asset quality remained manageable, with the Gross Non-Performing Assets (GNPA) Ratio at 2.97% and the Net Non-Performing Assets (NNPA) Ratio at 0.73%. The company maintained a healthy buffer against defaults, with the Provision Coverage Ratio at 75.87%. The Debt-Equity Ratio stood at 3.58, while the company maintained a robust capital position with a Capital Adequacy Ratio of 30.05%, comfortably above regulatory requirements.

​Strategic Developments: During the quarter, Midland Microfin Limited continued to focus on expanding its lending activities, utilizing proceeds from the issuance of secured and unsecured Non-Convertible Debentures (NCDs) primarily for onward lending​​​​​​​​​. The company maintained a strong capital base, with net worth standing at ₹6,633.83 million, supported by retained earnings​. While impairment costs saw an increase, strong solvency buffers and stable liquidity provide resilience, evidenced by a security cover maintained at 1.11 times on secured listed debt​. Management remains focused on maintaining asset quality, complying with covenants, and optimizing its funding mix to support sustainable profitability over the medium term​.

Financial Performance (Q3 FY26 vs Q3 FY25): Schneider Electric President Systems Limited reported a steady revenue performance in Q3 FY26, though bottom-line figures were impacted by a one-time regulatory charge. Total revenue from operations increased by 4.9% year-on-year (YoY) to ₹115.49 Crore, compared to ₹110.07 Crore in Q3 FY25. Total income (including other income) stood at ₹117.28 Crore for the quarter, slightly lower than the ₹120.73 Crore recorded in the corresponding period last year due to a dip in other income. Profit After Tax (PAT) declined by 13.2% YoY to ₹12.14 Crore, compared with ₹13.98 Crore in Q3 FY25. This decrease was primarily driven by a non-recurring exceptional item of ₹4.56 Crore related to new labor code provisions. Earnings Per Share (EPS), restated for the bonus issue, stood at ₹10.04 compared to ₹11.50 in the previous year's third quarter.

Operational Metrics (Q3 FY26 vs Q3 FY25): Operational results reflected significant shifts in cost structures and capital base during the quarter. Total expenses (excluding tax and exceptional items) were optimized at ₹96.09 Crore, down from ₹101.01 Crore a year ago, largely aided by a ₹7.50 Crore credit from changes in inventories. Cost of raw materials and components consumed rose to ₹80.10 Crore from ₹76.11 Crore YoY. The company's paid-up equity share capital doubled to ₹12.10 Crore from ₹6.05 Crore following a 1:1 bonus share allotment. Despite the exceptional charge, the company maintained a healthy Profit Before Tax (PBT) margin (before exceptional items) of approximately 18.3% of revenue from operations. 

Strategic Developments: During the quarter, Schneider Electric President Systems Limited reached a major corporate milestone by completing a 1:1 bonus issue, allotting 6,048,000 equity shares to eligible members. This move, funded through the Securities Premium Account, increased the total paid-up equity capital to ₹12.10 Crore. A significant strategic impact was the recognition of ₹4.56 Crore as an exceptional item. This charge represents the estimated incremental impact on gratuity following the Government of India's notification of four new Labour Codes on November 21, 2025. The management continues to monitor the finalization of state rules regarding these codes to provide further accounting treatments as required. Furthermore, the company maintains its focus on a single primary business segment involving products and systems for electricity distribution.