Microse India Reports FY26 Net Loss Amid F&O Trading Setbacks

₹-1.72 crore Net Loss; ₹-1.18 crore Revenue from Operations

Reader Takeaway: F&O trading losses hit revenue and profit; NBFC compliance note requires attention.

What just happened

Microse India Limited has announced its audited financial results for the Financial Year 2026. The company reported a net loss of ₹-1.72 crore for the year, a sharp decline from a profit of ₹0.96 crore in FY 2025. Revenue from operations also turned negative, standing at ₹-1.18 crore for FY 2026, compared to ₹1.36 crore in the previous year. Management attributed the negative revenue primarily to losses incurred from Futures and Options (F&O) trading activities.

Why this matters

This financial performance indicates significant operational volatility for Microse India. The reliance on F&O trading has directly impacted the company's top and bottom lines, turning a profit into a substantial loss. For investors, this highlights a key risk associated with the company's current revenue-generating strategy. Furthermore, the auditor's remark on the NBFC reporting format, while not leading to an unmodified opinion, points to a potential compliance gap that needs monitoring.

The backstory

In FY 2025, Microse India had reported a net profit of ₹0.96 crore and revenue from operations of ₹1.36 crore. The current year's results show a complete reversal of this performance. The company's total assets stood at ₹1.53 crore as of March 31, 2026, with a paid-up equity share capital of ₹2.16 crore.

What changes now

The company's focus will likely shift towards managing F&O trading risks and potentially exploring alternative revenue streams to achieve profitability. Investors will be closely watching for any strategic changes aimed at stabilizing performance. The appointment of a new internal auditor, M/s ARK Jain & Associates, is a routine administrative change for the Financial Year 2026-27, replacing M/s Laddha & Laddha.

Risks to watch

The primary risk for Microse India is its heavy reliance on volatile F&O trading, which has proven detrimental to its financial results. The potential for continued losses in this segment poses an ongoing threat to profitability and operational stability. Additionally, ensuring compliance with the correct NBFC reporting format is crucial to avoid potential regulatory scrutiny.

Peer comparison

As a Non-Banking Financial Company (NBFC) involved in trading, Microse India's performance can be compared with other listed NBFCs and financial services firms. However, its unique focus on F&O trading losses as a primary revenue driver makes direct comparison challenging. Other NBFCs typically derive income from lending, investment, or fee-based services, which are less prone to the specific trading volatility seen here.

Context metrics (time-bound)

• FY 2026 Revenue from operations: ₹-1.18 crore
• FY 2026 Net Profit/(Loss): ₹-1.72 crore
• FY 2025 Net Profit/(Loss): ₹0.96 crore
• Total Assets (as of 31.03.2026): ₹1.53 crore

What to track next

Investors should closely track the company's future quarterly results to see if it can stem the F&O trading losses and return to profitability. Monitoring any announcements regarding strategic shifts or diversification efforts will also be important. Attention should also be paid to the company's adherence to NBFC reporting standards in subsequent filings.