💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment (Investment), making segment-wise growth reporting not applicable. Total investment value decreased from INR 97.46 Cr in March 2025 to INR 89.75 Cr in September 2025, representing a 7.9% decline in the portfolio value over six months.

Geographic Revenue Split

Not disclosed in available documents; however, the company is headquartered in Surat, Gujarat, and primarily operates within the Indian financial markets.

Profitability Margins

The company reported a Net Profit before tax of INR 4.73 Lakhs for the year ended March 31, 2025. However, for the half-year ended September 30, 2025, it recorded a loss of INR 4.87 Lakhs, indicating a significant downturn in operational profitability due to market fluctuations affecting investment income.

EBITDA Margin

Not explicitly disclosed as a percentage; however, the shift from a profit of INR 4.73 Lakhs (FY25) to a loss of INR 4.87 Lakhs (H1 FY26) suggests a negative EBITDA margin for the current period due to the lack of operating revenue to cover administrative costs.

Capital Expenditure

The company reported zero fixed assets and zero capital work-in-progress as of March 31, 2025, and September 30, 2025, indicating no historical or planned capital expenditure in physical infrastructure.

Credit Rating & Borrowing

Total borrowings stood at INR 69.54 Lakhs as of March 31, 2025, a decrease of 16.05% from INR 82.84 Lakhs in the previous year. Specific credit ratings and interest rate percentages were not disclosed in the provided documents.

⚙️ Operational Drivers

Raw Materials

Not applicable as MASKINVEST is an investment company. Its 'raw materials' are capital and financial securities.

Import Sources

Not applicable; the company sources financial instruments and securities through Indian stock exchanges and primary markets.

Key Suppliers

Not applicable; the company interacts with financial intermediaries, brokers, and depository participants like Adroit Corporate Services Private Limited.

Capacity Expansion

Not applicable for an investment firm; however, the investment portfolio capacity is limited by its total equity and liabilities, which stood at INR 98.99 Cr as of March 31, 2025.

Raw Material Costs

Not applicable; the primary cost drivers are financial in nature, such as interest expenses and transaction costs, rather than physical raw materials.

Manufacturing Efficiency

Not applicable; the company does not engage in manufacturing.

Logistics & Distribution

Not applicable; the company's 'products' are financial investments which are distributed/held digitally via dematerialized accounts.

📈 Strategic Growth

Expected Growth Rate

Not disclosed in available documents

Growth Strategy

The company focuses on managing a portfolio of financial investments. Growth is achieved through the appreciation of its investment portfolio (INR 89.75 Cr as of Sept 2025) and potential strategic shifts in asset allocation. The company maintains compliance with related party transaction norms to leverage group synergies where applicable.

Products & Services

Investment in equity shares, debt instruments, and other financial securities; provision of capital to markets.

Brand Portfolio

MASKINVEST

Market Expansion

The company operates primarily from its Surat base, focusing on Indian capital markets with no specific regional expansion plans mentioned.

Strategic Alliances

The company works with Adroit Corporate Services Private Limited as its Registrar and Share Transfer Agent.

🌍 External Factors

Industry Trends

The investment industry is shifting towards increased transparency and digital audit trails. The company noted that its 'edit log' feature was not enabled for FY25, highlighting a need to align with evolving regulatory technology standards for financial record-keeping.

Competitive Landscape

Competes with other NBFCs and investment firms for high-yield opportunities in the Indian equity and debt markets.

Competitive Moat

The company's moat is based on its long-standing presence (incorporated 1992) and its ability to manage a significant investment corpus (INR 90+ Cr) with minimal overhead, though this is subject to market-wide risks.

Macro Economic Sensitivity

Highly sensitive to capital market movements and interest rate changes, which affect the valuation of its INR 89.75 Cr investment portfolio.

Consumer Behavior

Not directly applicable; however, investor sentiment in the broader market dictates the liquidity and valuation of the company's holdings.

Geopolitical Risks

Geopolitical instability could lead to market sell-offs, impacting the fair value of the company's non-current investments.

⚖️ Regulatory & Governance

Industry Regulations

Subject to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013. The company noted non-applicability of CSR (Section 135) and Nidhi company rules.

Environmental Compliance

Not applicable as the company has no manufacturing operations or physical fixed assets.

Taxation Policy Impact

The company maintains a current tax liability of INR 1.28 Lakhs as of March 2025. It complies with Ind AS and the Income Tax Act for its financial reporting.

Legal Contingencies

The company disclosed pending litigations under Note No. 19(a) regarding 'Contingent Liabilities,' though the specific INR value of these claims was not provided in the summary documents.

⚠️ Risk Analysis

Key Uncertainties

Market risk is the primary uncertainty, as evidenced by the swing from a profit in FY25 to a loss in H1 FY26 due to investment valuation changes.

Geographic Concentration Risk

100% of operations and registered office are located in Surat, Gujarat, India.

Third Party Dependencies

Dependent on the accuracy of financial reporting software and the registrar (Adroit Corporate Services) for shareholder management.

Technology Obsolescence Risk

The company faced a reporting exception regarding the 'audit trail' (edit log) feature in its accounting software, which was not enabled throughout FY25, posing a regulatory compliance risk.

Credit & Counterparty Risk

The company has minimal trade receivables (zero reported in H1 FY26), suggesting low credit risk from customers but high market risk from its investment holdings.