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Piramal Finance Q3 FY26 PAT Jumps 940% to ₹401 Cr; Growth AUM Up 34% YoY
Piramal Finance reported a robust Q3 FY26 with consolidated PAT surging 940% YoY to ₹401 Crore, driven by a 23% growth in total AUM to ₹96,690 Crore. The company has successfully pivoted to a retail-led model, with retail assets now comprising 82% of the total book and legacy wholesale AUM shrinking to just 5%. Profitability metrics improved significantly as the Growth Business RoAUM reached 1.9% and Net Interest Margins (NIM) expanded by 51 bps YoY to 6.3%. Management remains confident in its long-term target to achieve ₹1.5 Lakh Crore AUM and a RoAUM exceeding 3% by FY28.
Key Highlights
Consolidated PAT grew 940% YoY to ₹401 Cr, while Growth Business PBT rose 101% to ₹427 Cr.
Total AUM reached ₹96,690 Cr (up 23% YoY), with the Growth AUM segment specifically increasing 34% YoY.
Net Interest Margin (NIM) expanded to 6.3%, representing a 51 bps improvement over the previous year.
Legacy AUM significantly de-risked, now representing only 5% of total AUM compared to 13% in Q3 FY25.
Maintains a strong capital position with a Net Worth of ₹27,872 Cr and Capital Adequacy of 20.3%.
💼 Action for Investors
Investors should view the successful transition to a retail-led model and the sharp improvement in RoAUM as positive indicators for long-term value creation. Monitor the company's progress toward its FY28 target of ₹1.5 Lakh Crore AUM and the continued monetization of non-core assets.
Piramal Finance targets ₹1.5L Cr AUM by FY28; Q3 PAT surges 940% YoY to ₹401 Cr
Piramal Finance reported a strong Q3 FY26 with consolidated PAT rising 940% YoY to ₹401 Cr, driven by a 23% growth in total AUM to ₹96,690 Cr. The company has successfully transitioned to a retail-led model, with retail assets now comprising 82% of the total book. Legacy wholesale assets have been significantly reduced to just 5% of AUM, while the new Wholesale 2.0 book continues to scale. Management has set an ambitious target to reach ₹1.5 Lakh Cr AUM by FY28 with a long-term RoAUM goal of over 3%.
Key Highlights
Total AUM grew 23% YoY to ₹96,690 Cr, with the Growth Business (Retail + Wholesale 2.0) making up 95% of the mix.
Consolidated PAT jumped to ₹401 Cr in Q3 FY26 from ₹39 Cr in the previous year, a 940% increase.
Retail AUM reached ₹79,413 Cr, supported by a network of 518 branches and a 34% YoY growth in the retail segment.
Asset quality remains stable with GNPA at 2.6% and NNPA at 1.9%, while Growth Business RoAUM improved to 1.9%.
Legacy (discontinued) AUM reduced to ₹5,230 Cr (5% of total), down from 13% a year ago.
💼 Action for Investors
The successful pivot to a retail-heavy model and the rapid liquidation of legacy assets significantly de-risks the balance sheet. Investors should monitor the company's progress toward its 3% RoAUM target as it scales its high-yield retail and AI-driven lending segments.
Omaxe Subsidiary Receives RERA Registration for 4 Residential Projects in Mohali, Punjab
Omaxe Limited's wholly-owned subsidiary, Omaxe New Chandigarh Developers Private Limited, has secured RERA registration certificates for four residential projects in Mohali, Punjab. The projects include three plotted developments (Phases 6, 6A, and 6C) and one built-up project named 'Resort The Retreat.' These approvals, received on March 11, 2026, allow the company to officially launch, market, and sell these properties starting March 12, 2026. The registrations are valid until late 2030, ensuring a clear legal pathway for project completion and revenue generation.
Key Highlights
Received RERA registration for 4 residential projects in Mohali, Punjab, including plotted and built-up categories.
Official launch date for all four projects is scheduled for March 12, 2026.
Registration certificates for the projects are valid until various dates in late 2030 (October to December).
Approvals enable the subsidiary to immediately commence sales, transfers, and advertising activities.
Projects are situated across Kharar, Village Ranimajra, Bansapur, Rasoolpur, and Dhodemajra in SAS Nagar.
💼 Action for Investors
Investors should monitor the sales velocity of these new launches as they will be key drivers for the company's consolidated revenue in the coming quarters. The receipt of RERA certificates mitigates regulatory risk and allows for immediate monetization of these land parcels.
Omaxe Subsidiary Receives RERA Approval for 4 Residential Projects in Mohali, Punjab
Omaxe Limited's wholly-owned subsidiary, Omaxe New Chandigarh Developers Private Limited, has secured RERA registration for four residential projects in Mohali, Punjab. The projects include three plotted developments (Phase 6, 6A, and 6C) and one built-up residential project named 'Resort The Retreat.' These approvals, effective from March 12, 2026, allow the company to officially commence sales, transfers, and advertising activities. The registrations provide long-term operational visibility with validity extending until late 2030.
Key Highlights
Received RERA registration for 4 distinct residential projects in the New Chandigarh/Mohali region.
Projects include 3 plotted developments and 1 built-up residential project (Resort The Retreat).
Official launch date for all four projects is scheduled for March 12, 2026.
Registration certificates are valid until late 2030, with specific dates ranging from October to December 2030.
Approvals enable the company to target both domestic and international markets for sales.
💼 Action for Investors
Investors should track the sales momentum and booking updates from these projects in future quarterly reports to gauge the impact on consolidated revenue. The regulatory clearance removes a major hurdle for inventory monetization in the Punjab market.
Moneyboxx Finance Reports Rs 1.13 Crore Fraud by Senior Finance Manager
Moneyboxx Finance Limited has disclosed a fraud incident involving its former Senior Finance Manager, Mr. Rahul Kumar, who misappropriated funds over several months. The fraud was executed through unauthorized transfers using 'KODO' expense management software, with the total amount involved estimated at Rs 1.13 crore. The company estimates the net financial impact at Rs 96 lakh and has already terminated the employee. Legal proceedings and a police complaint have been initiated to recover the misappropriated funds.
Key Highlights
Total amount involved in the fraud is approximately Rs 1.13 crore
Estimated net financial impact to the company stands at Rs 96,00,000
Fraud perpetrated by Senior Finance Manager via 'KODO' expense management software
Company has filed a formal police complaint and initiated legal recovery proceedings
Internal control mechanisms have been strengthened to prevent recurrence of such breaches
💼 Action for Investors
Investors should monitor if this incident leads to any further audit qualifications or adjustments in the upcoming quarterly results. While the financial impact is relatively small, it highlights a need for closer scrutiny of the company's internal financial controls.
Kothari Petrochemicals Faces Operational Disruption Due to Feedstock Supply Constraints
Kothari Petrochemicals has declared a force majeure situation following geopolitical tensions in the Middle East that have restricted gas supplies. The Ministry of Petroleum and Natural Gas has directed refineries to prioritize domestic LPG, resulting in the suspension of feedstock supplies to downstream industries. Consequently, the company has notified its industrial customers about the restriction of contracted supply quantities. The total financial impact of this ongoing disruption is currently unascertainable.
Key Highlights
Force majeure declared due to Middle East geopolitical situation and resulting gas supply restrictions.
Government directive mandates refineries to prioritize domestic LPG over downstream industry feedstock.
Company has officially communicated supply restrictions to its industrial customers as per existing agreements.
Operations are constrained by the lack of raw material availability from refineries.
The duration and financial impact of the disruption remain uncertain and are being closely monitored.
💼 Action for Investors
Investors should exercise caution as prolonged feedstock suspension will significantly impact quarterly revenue and margins. Monitor for updates on the geopolitical situation and any revised government directives regarding industrial gas allocation.
Dabur India Reaffirmed [ICRA]AAA (Stable) Rating for Rs 250 Cr NCDs and Rs 1,000 Cr Bank Facilities
ICRA Limited has reaffirmed the highest credit ratings for Dabur India Limited's debt instruments and bank facilities. The company's Rs 250 crore Non-Convertible Debentures (NCD) programme maintained its [ICRA]AAA (Stable) rating. Additionally, bank facilities totaling Rs 1,000 crore were reaffirmed at [ICRA]AAA (Stable) and [ICRA]A1+. This reaffirmation underscores Dabur's strong financial profile and high degree of safety regarding timely servicing of financial obligations.
Key Highlights
ICRA reaffirmed [ICRA]AAA (Stable) rating for Rs 250 crore Non-Convertible Debentures.
Total bank facilities of Rs 1,000 crore reaffirmed at [ICRA]AAA (Stable) and [ICRA]A1+.
Bank limits include fund-based facilities from HDFC Bank (Rs 145 cr) and Standard Chartered (Rs 200 cr).
Short-term interchangeable bank limits of Rs 175 crore reaffirmed at [ICRA]A1+.
💼 Action for Investors
The reaffirmation of the highest credit rating confirms Dabur's strong financial health and low default risk. Long-term investors can remain confident in the company's ability to manage its debt obligations efficiently.
Relaxo Footwears CFO Prince Jain Resigns with Immediate Effect
Relaxo Footwears Limited has announced the resignation of Mr. Prince Jain from the position of Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). The resignation is effective from the close of business hours on March 11, 2026. Mr. Jain has cited the pursuit of opportunities outside the organization as the reason for his departure. The company has not yet announced a successor for this critical leadership role.
Key Highlights
Mr. Prince Jain resigned as CFO and Key Managerial Personnel effective March 11, 2026.
The resignation was tendered with immediate effect as per the official disclosure.
Reason for departure is stated as pursuing professional opportunities outside the company.
The company must now appoint a new CFO to comply with SEBI and Companies Act requirements.
💼 Action for Investors
Investors should monitor for the announcement of a new CFO to ensure leadership continuity in financial operations. While the exit is for external opportunities, immediate resignations of KMPs often warrant a cautious watch on near-term management stability.
Zodiac Energy Acquires 98% Stake in Shamli Solar Projects LLP
Zodiac Energy Limited has acquired a 98% majority stake in Shamli Solar Projects LLP, officially making it a subsidiary. The acquisition was completed for a nominal cash consideration of Rs. 19,600, as the target entity currently reports zero turnover. Shamli Solar is focused on solar power plant development and electricity sales, which aligns with Zodiac's core business objectives. This acquisition appears to be a strategic move to create a project-specific vehicle for future renewable energy expansion.
Key Highlights
Acquired 98% ownership interest in Shamli Solar Projects LLP for a cash consideration of Rs. 19,600.
Target entity is engaged in setting up solar power plants and electricity generation.
Shamli Solar Projects LLP reported nil turnover for the financial years 2022-23, 2023-24, and 2024-25.
The acquisition is intended to facilitate the further expansion of Zodiac Energy's business in the solar sector.
💼 Action for Investors
Investors should view this as a routine expansion of the company's corporate structure for future projects. Monitor for any upcoming contract wins or project developments specifically tied to this new subsidiary.
Ceigall India JV Emerges L1 Bidder for 55.7 km NH-913 Road Project in Arunachal Pradesh
Ceigall India Limited, in a joint venture with Sushee Infra & Mining Limited, has emerged as the L1 bidder for a significant road construction project in Arunachal Pradesh. The project involves the Huri-Taliha section of NH-913 (Frontier Highway), covering a stretch of 55.725 km. Ceigall holds a dominant 74% stake in the joint venture, while its partner holds 26%. This announcement clarifies the specific nature of the EPC contract following an earlier filing on the same day.
Key Highlights
Ceigall India (74% stake) and Sushee Infra (26% stake) declared L1 bidders for the NH-913 Frontier Highway project.
The project covers the construction of a 55.725 km stretch from Huri to Taliha in Arunachal Pradesh.
The contract will be executed under the Engineering, Procurement, and Construction (EPC) mode for MoRTH.
The announcement serves as a corrigendum to provide specific details on the nature of the road project.
💼 Action for Investors
Investors should monitor for the formal Letter of Award (LoA) and the total contract value, which will provide better visibility on the company's order book growth.
Gem Aromatics Promoter & CFO Acquires 50,000 Shares Worth ₹93.12 Lakhs
Kaksha Vipul Parekh, the Promoter and CFO of Gem Aromatics Limited, purchased 50,000 equity shares through an open market transaction on March 11, 2026. The acquisition, valued at approximately ₹93.12 lakhs, raised the promoter's stake from 64.54% to 65.27%. This move reflects strong internal confidence in the company's current valuation and long-term business outlook. Insider buying at this scale is often interpreted by the market as a bullish indicator.
Key Highlights
Acquisition of 50,000 equity shares by Promoter and CFO Kaksha Vipul Parekh.
Total transaction value reported at ₹93,12,500 through an on-market purchase.
Individual promoter holding increased from 64.54% to 65.27% post-transaction.
The transaction was executed on March 11, 2026, and disclosed under SEBI PIT regulations.
💼 Action for Investors
Investors should view this insider purchase as a positive signal regarding the company's intrinsic value. It may be worth monitoring the stock for further accumulation by other members of the promoter group.
Redington Wins Tax Appeal: INR 230.21 Cr Demand Quashed by CIT(A)
Redington Limited has received a favourable order from the Commissioner of Income Tax (Appeals) regarding a tax dispute for AY 2020-21. The order quashes a demand of INR 230.21 crore out of a total demand of INR 233.66 crore previously raised by the Assessing Officer. The company had been contesting this demand since September 2023. This resolution significantly reduces potential financial liability and uncertainty for the company.
Key Highlights
CIT (Appeals) quashed a tax demand of INR 230.21 crore for AY 2020-21.
The original demand raised by the Assessing Officer was INR 233.66 crore.
The company had previously disclosed and contested this demand in September 2023.
The order removes a significant contingent liability from the company's financial outlook.
💼 Action for Investors
This is a positive development that removes a major financial uncertainty. Investors should view this as a strengthening of the company's balance sheet.
Indo Count Industries Faces GST Inspection and Search at Maharashtra Premises
The Commissioner of State Tax, Maharashtra, initiated a search and inspection at Indo Count Industries' premises on March 11, 2026, starting at 11:50 a.m. The action is being conducted under Section 67 of the Maharashtra GST Act, 2017, which typically involves inspection of goods or documents. While the company states there is currently no impact on business operations or financials, the search process is still ongoing. Investors should monitor for any subsequent findings or tax demand notices that may arise from this regulatory action.
Key Highlights
Search initiated by Commissioner of State Tax, Maharashtra on March 11, 2026, at 11:50 a.m.
Action taken under Section 67 of the Maharashtra Goods and Services Tax Act, 2017.
Company reports no immediate quantifiable impact on financials or business operations.
Indo Count Industries is extending full cooperation to the authorities during the ongoing process.
Further disclosures will be made if any material developments occur following the inspection.
💼 Action for Investors
Investors should remain cautious and monitor the company's subsequent filings for any potential tax liabilities or penalties. No immediate action is required as the financial impact is currently unquantified.
TNPETRO Completes LAB Plant Expansion and Commences Operations
Tamilnadu PetroProducts Limited (TNPETRO) has successfully completed the expansion of its Linear Alkyl Benzene (LAB) plant. The company officially commenced operations at the expanded facility on March 11, 2026. This milestone follows previous project updates provided to the exchanges in December 2025. The expansion is expected to enhance the company's production capacity and strengthen its market position in the petrochemical sector.
Key Highlights
Completion of expansion activities at the core LAB plant facility
Commencement of operations at the expanded plant effective March 11, 2026
Follows through on project timelines indicated in December 2025 updates
Expected to drive higher production volumes and revenue growth in future quarters
💼 Action for Investors
Investors should monitor the upcoming quarterly results for improvements in production volumes and revenue following this capacity addition. The successful commissioning reduces execution risk and points toward long-term growth.
Gem Aromatics Promoter Kaksha Vipul Parekh Acquires 50,000 Shares for ₹93.12 Lakhs
Kaksha Vipul Parekh, the Whole-Time Director and CFO of Gem Aromatics, has purchased 50,000 equity shares of the company through an open market transaction on March 11, 2026. The total value of the acquisition is approximately ₹93.12 lakhs. This purchase has increased the promoter's individual stake from 8.45% to 8.546%. Such insider buying typically indicates management's confidence in the company's future prospects and intrinsic value.
Key Highlights
Promoter and CFO Kaksha Vipul Parekh purchased 50,000 shares via the open market on NSE
The total transaction value is approximately ₹93.12 lakhs
Individual shareholding of the promoter increased from 8.45% to 8.546%
The acquisition was completed on March 11, 2026, as per SEBI PIT regulations
💼 Action for Investors
Investors should consider this insider buying as a positive signal regarding the company's valuation and outlook. It is advisable to monitor further insider activity and quarterly performance to confirm the growth trajectory.
Eros Media Shareholders Approve Name Change to Eros Media Technologies and Board Appointments
Eros International Media Limited has announced the successful passage of three key resolutions via postal ballot with over 99% shareholder approval. The most significant outcome is the approval to change the company's name to 'Eros Media Technologies Limited', indicating a potential strategic pivot or rebranding. Additionally, shareholders approved the appointments of Mr. Anand Shankar Kamtam and Mr. Vijay Gulab Chand to the Board of Directors. While the resolutions passed with a high majority of those who voted, total voter turnout was relatively low at approximately 16.67% of outstanding shares.
Key Highlights
Shareholders approved the name change to 'Eros Media Technologies Limited' with a 99.86% majority.
Appointment of Mr. Anand Shankar Kamtam as Director was confirmed with 99.76% of votes in favor.
Mr. Vijay Gulab Chand was appointed as a Non-Executive Non-Independent Director with 99.75% approval.
Total voter turnout represented 16.67% of the company's 95.91 million outstanding shares.
Promoter group voting was 100% in favor across all three resolutions.
💼 Action for Investors
Investors should monitor for any formal shift in business strategy that may accompany the rebranding to a 'Technologies' focused entity. No immediate portfolio action is required as these are structural and administrative approvals.
Maha Rashtra Apex Corp Sets March 20, 2026, as Record Date for Rights Issue
Maha Rashtra Apex Corporation Limited has announced March 20, 2026, as the record date for its upcoming Rights Issue of equity shares. This decision was finalized during the Board Meeting held on March 11, 2026. The record date will determine which shareholders are eligible to receive Rights Entitlements (REs) to participate in the capital raise. This move follows the company's compliance with Regulation 42 of SEBI Listing Regulations.
Key Highlights
Record date for Rights Issue eligibility is fixed for March 20, 2026
Board of Directors approved the timeline in a meeting held on March 11, 2026
The issue aims to provide Rights Entitlements to existing equity shareholders
The company is listed on both BSE (523384) and NSE (MAHAPEXLTD)
💼 Action for Investors
Investors interested in participating in the Rights Issue must ensure they hold the company's shares before the record date. Closely monitor upcoming disclosures regarding the rights price and entitlement ratio to assess the investment's value.
Maha Rashtra Apex Corp to Raise ₹14.09 Cr via 1:1 Rights Issue at ₹10/Share
Maha Rashtra Apex Corporation has approved a Rights Issue of up to 1.41 crore equity shares at a price of ₹10 per share, which is at par with the face value. The issue follows a 1:1 ratio, allowing existing shareholders to subscribe to one new share for every share held as of the record date, March 20, 2026. The total fundraise is expected to be approximately ₹14.09 crore, effectively doubling the company's outstanding equity base if fully subscribed. The subscription window is scheduled from April 2 to April 30, 2026.
Key Highlights
Rights Issue ratio fixed at 1:1 (one new share for every one share held)
Issue price set at ₹10 per share, aggregating to a total size of ₹1,409.19 Lakhs
Record date for eligibility is March 20, 2026, with the issue opening on April 2, 2026
Post-issue equity capital will double to 2,81,83,792 shares assuming full subscription
Last date for market renunciation of rights entitlements is April 29, 2026
💼 Action for Investors
Investors should evaluate the current market price against the ₹10 issue price; if the market price is higher, they should either subscribe or sell their rights entitlements before April 29 to avoid dilution.
EMS Limited Promoter Ramveer Singh Pledges 3.79% Additional Stake; Total Pledge Reaches 25.51%
Promoter Ramveer Singh has pledged an additional 21.07 lakh shares, representing 3.79% of EMS Limited's total share capital, in favor of CSL Finance Limited. This transaction increases the total encumbered promoter stake to 25.51% of the company's total equity and 37.59% of the promoter's own holding. The pledge was created to provide additional collateral for existing financing arrangements and to manage liquidity for margin requirements and repayments. While the promoter maintains a high overall stake of 67.85%, the rising pledge level introduces potential risks related to share price volatility.
Key Highlights
Promoter Ramveer Singh pledged 21,07,000 additional shares (3.79% of total capital) on March 11, 2026.
Total encumbered shares increased from 21.71% to 25.51% of the company's total share capital.
Pledged shares now account for 37.59% of the total promoter group holding of 67.85%.
The pledge was created with CSL Finance Limited maintaining a security cover ratio of 2.50:1.
Reasons cited include providing additional collateral, covering margins, and repayment to other parties.
💼 Action for Investors
Investors should exercise caution as high promoter pledging can lead to forced liquidation if the stock price falls sharply. Monitor the company's share price movements and any further disclosures regarding promoter debt levels.
India Ratings Affirms Snowman Logistics' Credit Rating at IND A+; Issue Size Reduced to ₹166.5 Cr
India Ratings and Research has reaffirmed Snowman Logistics' credit rating for its bank facilities at 'IND A+' with a stable outlook and 'IND A1' for short-term facilities. The total rated amount has been reduced from INR 2,025 million to INR 1,665 million, suggesting a reduction in debt exposure or facility requirements. The affirmation reflects the company's stable credit profile and consistent operational performance in the cold chain logistics sector. The rated facilities are primarily held with Axis Bank, comprising term loans and fund-based limits.
Key Highlights
Long-term rating affirmed at 'IND A+' with a Stable outlook
Short-term rating affirmed at 'IND A1' for bank loan facilities
Total rated bank loan facilities reduced by INR 360 million to INR 1,665 million
Facilities include INR 1,165 million in term loans and INR 500 million in fund-based limits from Axis Bank
💼 Action for Investors
Investors should view this as a sign of financial stability and creditworthiness. No immediate action is required as the rating remains unchanged, though the reduction in rated debt is a positive indicator of capital management.