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Prudent Q3 FY26 PAT Rises 19.6% YoY to ₹57.6 Cr; SIP Book Hits ₹1,170 Cr
Prudent Corporate Advisory Services reported a 19.6% YoY increase in PAT to ₹57.6 crores for Q3 FY26, supported by steady AUM growth. The monthly SIP book reached ₹1,170 crores in January 2026, with management aiming for ₹1,200 crores by the end of the fiscal year. Despite market volatility, equity net sales remained resilient at ₹3,444 crores for the quarter. The company is actively seeking M&A opportunities, backed by a ₹537 crore treasury corpus, following the successful integration of Indus Capital.
Key Highlights
Consolidated PAT for Q3 FY26 rose 19.6% YoY to ₹57.6 crores, with 9M PAT reaching ₹162.9 crores.
Monthly SIP book increased to ₹1,170 crores in January 2026, with market share rising to 3.5%.
Equity AUM grew 22.4% YoY to ₹125,700 crores, driven by ₹3,444 crores in quarterly net sales.
Company holds a robust treasury corpus of ₹537 crores to pursue further strategic M&A opportunities.
Revised accounting for Karvy assets (extending life to 15 years) reduced quarterly depreciation by ₹1.7 crores.
💼 Action for Investors
Investors should maintain a positive outlook given the strong SIP momentum and market share gains, while monitoring the impact of SEBI's TER changes expected in April 2026. The company's ability to leverage its large treasury for acquisitions remains a key growth catalyst.
Prudent Q3 FY26 Results: PAT Up 19.6% YoY to ₹57.6 Cr; Revenue Grows 20.4%
Prudent Corporate Advisory Services reported a strong Q3 FY26 with revenue growing 20.4% YoY to ₹343.2 crore. Net profit increased by 19.6% to ₹57.6 crore, supported by a 22.3% growth in total Assets Under Management (AUM) which reached ₹1,29,965 crore. The company's monthly SIP book saw a significant 21% YoY rise to ₹1,135 crore, indicating strong retail participation. Management highlighted the successful integration of Indus Capital and a healthy treasury book of ₹540 crore available for future inorganic growth.
Key Highlights
Revenue from operations increased 20.4% YoY to ₹343.2 crore in Q3 FY26.
Profit After Tax (PAT) grew 19.6% YoY to ₹57.6 crore with an operating profit of ₹77.8 crore.
Equity-oriented AUM reached ₹1,25,730 crore, representing a 22.4% YoY growth.
Monthly SIP book crossed ₹1,135 crore in December 2025, up 21% from the previous year.
Company holds a treasury book of ₹540 crore to pursue further acquisition opportunities.
💼 Action for Investors
The company shows robust growth in its core mutual fund distribution business and SIP book, which provides high revenue visibility. Investors should monitor the company's ability to deploy its ₹540 crore treasury for further accretive acquisitions.
Prudent Corporate Q3 FY26: AUM Hits ₹1.29 Lakh Cr; Monthly SIP Flow at ₹1,135 Cr
Prudent Corporate Advisory Services reported a robust performance for Q3 FY2026, with Total Assets Under Management (AUM) reaching ₹1,29,965 crore. The company maintains a high-yield portfolio with 96.7% of its AUM in equity-oriented funds, ensuring strong recurring commission revenue. Diversification efforts are evident as the insurance vertical's revenue share increased to 11.7% from 7.2% in FY20. With a massive network of 35,975 distributors and over 2 million investors, the company is well-positioned to capture the retail shift toward market-linked financial products.
Key Highlights
Total AUM reached ₹1,29,965 crore as of December 2025, reflecting a 40% CAGR from FY20 to FY25.
Monthly SIP inflows reached a significant milestone of ₹1,135 crore, supported by 35,975 channel partners.
Equity-heavy AUM mix at 96.7% provides a defensive and high-margin revenue profile compared to debt-heavy peers.
Insurance distribution segment recorded premiums of ₹193.4 crore in Q3 FY26 with an average premium per policy of ₹34,700.
Ranked 4th in Total Retail AUM and 5th in Retail Net Sales according to CAMS December 2025 data.
💼 Action for Investors
The company's strong B2B2C model and dominant equity AUM mix make it a prime beneficiary of the financialization of Indian household savings. Investors should maintain a positive outlook while monitoring the growth of the insurance and stock broking verticals as secondary pillars.
Prudent Corporate Standalone PAT Jumps 37.5% YoY to ₹55.06 Cr; Completes Indus Capital Acquisition
Prudent Corporate Advisory Services reported a strong performance for Q3 FY26, with standalone revenue from operations growing 29.8% YoY to ₹332.54 crore. Standalone Profit After Tax (PAT) rose significantly by 37.5% YoY to reach ₹55.06 crore. The company successfully integrated the mutual fund distribution business of Indus Capital, which contributed ₹5.72 crore in commission income during the quarter. Additionally, a change in the accounting estimate for the useful life of customer folios positively impacted the bottom line by reducing depreciation expenses.
Key Highlights
Standalone Revenue from Operations increased to ₹332.54 crore in Q3 FY26 from ₹256.16 crore in Q3 FY25.
Standalone PAT grew 37.5% YoY to ₹55.06 crore, with Basic EPS rising to ₹13.30 from ₹9.67.
Completed the acquisition of Indus Capital's MF distribution business for ₹123.75 crore, adding ₹5.72 crore to quarterly commission income.
Change in the useful life of customer folios (intangible assets) resulted in a ₹1.71 crore lower depreciation charge for the quarter.
Total expenses for the quarter stood at ₹265.45 crore, with commission and fee expenses being the largest component at ₹200.84 crore.
💼 Action for Investors
The strong growth in PAT and successful integration of Indus Capital's assets signal robust operational momentum. Investors should monitor the scalability of the newly acquired folios and the impact of the new labor code provisions on future margins.
DEN Networks Q3 FY26: PAT at ₹40 Cr, Cash Reserves reach ₹3,279 Cr despite Margin Pressure
DEN Networks reported a mixed Q3 FY26, with PAT rising 15% QoQ to ₹40 crore, though it declined 4% on a yearly basis. Revenue stood at ₹251 crore, impacted by a 14% YoY drop in subscription income, which was partially offset by a 6% growth in placement fees. The company maintains an exceptionally strong balance sheet with zero gross debt and a substantial cash balance of ₹3,279 crore. However, core operational performance remains under pressure as EBITDA margins contracted to 5% from 11% a year ago.
Key Highlights
Consolidated PAT stood at ₹40 crore for Q3 FY26, up 15% QoQ but down 4% YoY.
Maintains a robust cash and cash equivalent balance of ₹3,279 crore with zero gross debt.
EBITDA declined 53% YoY to ₹13 crore, with margins shrinking significantly to 5% from 11% in the previous year.
Subscription revenue fell 14% YoY to ₹98 crore, while placement/marketing income grew 6% YoY to ₹148 crore.
Achieved 97% online collection efficiency across its operations including subsidiaries.
💼 Action for Investors
Investors should monitor the company's ability to stabilize declining subscription revenues and manage rising content costs which are eating into margins. While the massive cash reserve provides a significant valuation floor, the lack of operational growth in the core cable business remains a concern.
DEN Networks Q3 Standalone PAT Falls 14% YoY to ₹19.9 Cr; Core Revenue Stagnant
DEN Networks reported a weak set of standalone results for Q3 FY26, with Profit After Tax (PAT) declining 13.9% year-on-year to ₹198.97 million. Revenue from operations remained stagnant at ₹2,576.11 million, reflecting challenges in the core cable business growth. Profitability was squeezed by rising operational costs, specifically content costs and placement fees. A significant portion of the company's total income continues to be driven by 'Other Income' (₹556.29 million) generated from its massive unutilized cash pile of ₹20,450 million.
Key Highlights
Standalone Revenue from operations remained flat at ₹2,576.11 million vs ₹2,582.96 million YoY.
Standalone PAT declined to ₹198.97 million from ₹231.17 million in the same quarter last year.
Content costs increased to ₹1,621.93 million, up from ₹1,577.03 million YoY.
Placement fees rose significantly to ₹524.53 million compared to ₹434.22 million in Q3 FY25.
The company continues to hold ₹20,450 million in mutual funds and FDs from a 2019 preferential allotment, which remains unutilized.
💼 Action for Investors
Investors should remain cautious as the core cable business shows no growth and margins are under pressure from rising content costs. The primary investment thesis remains the company's large cash balance and its potential utilization or eventual distribution to shareholders.
Trident Limited Completes Acquisition of MYTRIDENT.COM LIMITED as Wholly Owned Subsidiary
Trident Limited has successfully completed the acquisition of MYTRIDENT.COM LIMITED, making it a Domestic Wholly Owned Subsidiary (DWOS) effective January 8, 2026. The equity shares were duly transferred to the company following the Board of Directors' approval on January 6, 2026. This move consolidates the 'MyTrident' brand and its digital operations directly under the parent company's umbrella. The acquisition is expected to streamline the company's e-commerce and direct-to-consumer retail strategy.
Key Highlights
MYTRIDENT.COM LIMITED became a Domestic Wholly Owned Subsidiary (DWOS) on January 8, 2026.
The transfer of equity shares was completed within two days of the Board's initial approval on January 6, 2026.
The acquisition involves an unlisted Public Limited Company, now fully integrated into Trident's corporate structure.
The transaction complies with Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.
💼 Action for Investors
Investors should view this as a positive step toward consolidating the company's digital retail presence. Monitor future quarterly results for improvements in direct-to-consumer margins resulting from this integration.
Trident to Acquire MYTRIDENT.COM for INR 1 Lakh to Strengthen Global Marketing
Trident Limited has approved the 100% acquisition of MYTRIDENT.COM LIMITED from its promoter group for a nominal cash consideration of INR 1,00,000. The target entity, incorporated in 2021, has reported zero turnover for the last three financial years and will now function as a Domestic Wholly Owned Subsidiary. This strategic move is intended to consolidate brand-building and marketing efforts for Trident's products in international markets, with a specific focus on the U.S. market. The transaction is a related party deal conducted at arm's length and is expected to be completed within 10 days.
Key Highlights
Acquisition of 100% stake (10,000 equity shares) for a total cash consideration of INR 1,00,000.
Target entity MYTRIDENT.COM LIMITED has reported zero turnover for FY23, FY24, and FY25.
The deal is a related party transaction acquired from Trident Group Limited at arm's length.
Primary objective is to enhance brand presence and marketing for Trident products in the U.S. and overseas markets.
The acquisition process is slated for completion within a 10-day timeframe.
💼 Action for Investors
As the acquisition cost is negligible and the target has no current revenue, this is a minor internal restructuring; investors should monitor if this leads to improved export performance or brand equity.
Trident Limited Group CFO Rahul Roongta Resigns Effective January 2, 2026
Trident Limited has announced the resignation of Mr. Rahul Roongta from his position as the Group Chief Financial Officer (CFO). The resignation is effective from the closing hours of January 2, 2026, following a resignation letter submitted on December 26, 2025. Mr. Roongta cited personal reasons for his departure and has already been relieved of his duties. The company has not yet named a successor for this key managerial position.
Key Highlights
Mr. Rahul Roongta resigned as Group Chief Financial Officer effective January 2, 2026.
The resignation letter was formally submitted on December 26, 2025, citing personal reasons.
Mr. Roongta has been relieved from his official duties as of the closing hours of the effective date.
The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
💼 Action for Investors
Investors should monitor the company's upcoming announcements for the appointment of a new CFO to ensure leadership continuity. While the resignation is attributed to personal reasons, frequent changes in top management can be a point of scrutiny for long-term stability.
Denta Water Q2 Net Profit Jumps 71% YoY to ₹189M; Bags New Projects Worth ₹1.7B
Denta Water and Infra Solutions reported a strong Q2 FY26 with revenue from operations growing 54% YoY to ₹742.69 million. Net profit for the quarter surged 71% to ₹189.28 million compared to ₹110.51 million in the previous year's corresponding quarter. The company also announced significant business momentum, securing new projects and emerging as the lowest bidder (L1) for works totaling approximately ₹1,697.55 million. While the financial performance is robust, the statutory auditor highlighted that trade receivables and payables are currently subject to reconciliation.
Key Highlights
Q2 FY26 consolidated revenue from operations increased 53.8% YoY to ₹742.69 million.
Net profit for the quarter rose 71.3% YoY to ₹189.28 million from ₹110.51 million.
H1 FY26 revenue reached ₹1,415.47 million with a total comprehensive income of ₹375.01 million.
Announced new water management projects and L1 status for works totaling ₹1,697.55 million.
Basic and Diluted EPS for H1 FY26 stood at ₹14.04 compared to ₹12.60 in H1 FY25.
💼 Action for Investors
The company shows strong growth and a healthy order book pipeline which supports future revenue visibility. Investors should maintain a positive outlook but monitor the auditor's note regarding the reconciliation of trade balances.
Denta Water Clarifies Sunil Singhania Investment Article and Sales Growth to ₹200 Crore
Denta Water and Infra Solutions has issued a clarification regarding a previous disclosure about an article involving Sunil Singhania's Abakkus Funds. The company corrected a clerical error, pointing to a Financial Express article that highlights its significant turnaround from ₹1 crore to ₹200 crore in sales. Additionally, the company recently secured four major water infrastructure projects in Karnataka valued at over ₹106 crore. This validation from a prominent investor and the substantial revenue growth trajectory signal strong business momentum for the company.
Key Highlights
Clarified clerical error regarding a disclosure about Sunil Singhania’s Abakkus Funds investment
Highlighted a major financial turnaround with sales growing from ₹1 crore to ₹200 crore
Secured four major water infrastructure projects in Karnataka worth over ₹106 crore
Recognition by national financial media for improved fundamentals and long-term potential
💼 Action for Investors
Investors should monitor the execution of the newly secured ₹106 crore projects and verify the sustainability of the reported ₹200 crore sales turnaround. The interest from a marquee investor like Sunil Singhania adds credibility, but investors should perform independent due diligence on the company's profitability margins.
De Nora India Shareholders Approve Director Appointments and Re-appointments
De Nora India Limited has announced the successful passage of three key resolutions via postal ballot, all receiving 99.9998% approval from voting shareholders. The resolutions include the appointment of Mr. Deepak Nagvekar as a Whole-time Director and Mr. Guido Picari as a Non-Executive Non-Independent Director. Furthermore, shareholders approved the re-appointment of Mr. Purushottam Mantri as an Independent Director for a second five-year term. The voting process saw a total turnout of 54.42% of the company's total outstanding shares.
Key Highlights
Appointment of Mr. Deepak Nagvekar as Whole-time Director approved with 2,889,148 votes in favor.
Re-appointment of Mr. Purushottam Mantri as Independent Director for a second 5-year term confirmed.
Mr. Guido Picari appointed as Non-Executive Non-Independent Director with near-unanimous support.
Total voting turnout recorded at 54.42%, representing 2,889,155 shares out of 5,308,634 total shares.
All resolutions passed with a requisite majority, with only 7 votes cast against each resolution.
💼 Action for Investors
These appointments ensure leadership continuity and regulatory compliance for the company. Investors should view this as a routine governance update with no immediate impact on stock fundamentals.
Sunil Singhania’s Abakkus Funds Acquires 1.3% Stake in Denta Water; H1FY26 Profit at Rs 37 Cr
Sunil Singhania’s Abakkus Funds has acquired a 1.3% stake in Denta Water, signaling confidence in its significant financial turnaround. The company’s revenue surged from Rs 1 crore in FY20 to Rs 203 crore in FY25, with H1FY26 sales already reaching Rs 141 crore. With a robust order book of Rs 720 crore and a high ROCE of 25%, the company is targeting revenue of Rs 500-525 crore by FY28. The stock currently trades at a 15x PE, which is attractive compared to the industry median of 18x.
Key Highlights
Abakkus Diversified Alpha Fund–2 holds a 1.3% stake, one of only two new additions to Singhania's portfolio in the past year.
Net profit rose from zero in FY20 to Rs 53 crore in FY25, with H1FY26 profit already at Rs 37 crore.
Current order book stands at Rs 720 crore with management targeting additional orders of Rs 800-1,000 crore by FY26 end.
Revenue guidance set at Rs 300+ crore for FY26, scaling to Rs 500-525 crore by FY28.
Strong operational efficiency demonstrated by a 25% ROCE and EBITDA growth of over 450% since FY20.
💼 Action for Investors
The endorsement by a marquee investor and strong earnings momentum suggest a positive outlook for this small-cap water infrastructure player. Investors should monitor the company's ability to execute its Rs 720 crore order book and meet its aggressive FY26-FY28 revenue targets.