NCL Research & Financial Services Limited has submitted its unaudited financial results for the second quarter and half-year ended September 30, 2026. The company reported a profit of ₹39.70 lakhs for the quarter, a substantial turnaround from the previous year’s loss. Total assets grew to ₹17,023.18 lakhs as of September 30, 2026, up from ₹12,178.23 lakhs in March 2026. The company also highlighted its reliance on management representations regarding interest income on certain advances and loans.
NCL Research & Financial Services Reports Q2 FY27 Financials
NCL Research & Financial Services Limited has officially released its unaudited financial results for the second quarter and the half-year ended September 30, 2026. The filing details the company’s performance, including its profit and loss statements, balance sheet, and cash flow statement.
Key Financial Highlights (Q2 FY27)
Profitability Swing
For the quarter ended September 30, 2026, NCL Research & Financial Services reported a profit of ₹39.70 lakhs. This marks a significant improvement compared to the same period in the previous financial year. The total comprehensive income for the quarter stood at ₹43.52 lakhs.
Year-to-Date Performance
For the half-year ended September 30, 2026, the company recorded a profit of ₹267.94 lakhs. Total comprehensive income for the same period reached ₹282.85 lakhs.
Statement of Assets & Liabilities
Asset Growth
As of September 30, 2026, the total assets of NCL Research & Financial Services amounted to ₹17,023.18 lakhs. This represents a substantial increase from the ₹12,178.23 lakhs reported as of March 31, 2026. Key contributors to this growth include a significant rise in loans and investments.
Liabilities and Equity
Total liabilities as of September 30, 2026, stood at ₹1,050.79 lakhs. The company’s equity base grew to ₹15,972.39 lakhs, driven by an increase in equity share capital and other equity.
Cash Flow Statement Insights
Operating Activities
The cash flow from operating activities for the six months ended September 30, 2026, resulted in a net outflow of ₹1,479.43 lakhs. This was primarily due to significant adjustments in working capital, particularly a large decrease/(increase) in investments.
Investing Activities
Cash flow from investing activities was a net inflow of ₹4,666.06 lakhs, largely driven by changes in investments and proceeds from the issue of share capital (right issue) amounting to ₹4,994.86 lakhs.
Financing Activities
Net cash flow from financing activities provided an inflow of ₹3,186.63 lakhs, mainly due to increases in borrowings.
Auditors’ Review and Emphasis of Matter
The financial results have undergone a limited review by the statutory auditors, M/s Maheshwari & Co. The auditors have highlighted specific matters in their report. They drew attention to balances in Trade Receivable, Loans and advances and Other Financial Liabilities being subject to confirmation/reconciliation. Furthermore, the auditors noted that interest income on certain outstanding advances and loans amounting to ₹21,00,63,152/- and ₹2809.44 lakhs respectively, has not been recognized due to insufficient information to crystallize interest rates. The company has provided necessary ECL and other provisions for these amounts, and the auditors have relied on management’s representations.
Source: BSE
