NDA Securities Ltd FY26 Results: Revenue Up, Consolidated Loss Deepens

Revenue from operations for NDA Securities Ltd rose to ₹8.476 crore in the financial year ended March 31, 2026, up from ₹6.2504 crore in FY25. However, the company reported a standalone net profit of ₹0.0747 crore, a sharp decline from ₹1.5959 crore in the previous year. On a consolidated basis, NDA Securities posted a net loss of ₹0.2786 crore for FY26, a reversal from a net profit of ₹1.5539 crore in FY25.

Reader Takeaway: Revenue growth is positive, but a consolidated loss and loss of a major client are key concerns.

What just happened

The company announced its audited standalone and consolidated financial results for the fiscal year ended March 31, 2026. Key highlights include an increase in revenue from operations but a significant decrease in standalone net profit. More critically, the consolidated results shifted from a profit in FY25 to a net loss in FY26. The company also reported its removal from the Life Insurance Corporation of India's (LIC) approved broker panel.

Why this matters

For investors, the divergence between revenue growth and profitability is a major concern. While the top line is expanding, the bottom line is shrinking, leading to a consolidated loss. The removal from LIC's approved broker list signifies the loss of a substantial institutional client, which could impact future business volumes and revenue streams. The company is actively seeking re-empanelment with LIC.

The backstory

NDA Securities Limited is a financial services company. During the current financial year, it initiated new business activities, including investment and trading in securities on both delivery and intraday bases. The company also adopted Ind AS 108 for segment reporting and consolidated the financials of its subsidiaries, NDA Capital Advisor Private Limited and NDA Research and Technology Private Limited, which was acquired on July 4, 2025.

What changes now

The company's operational focus has expanded to include direct securities trading. The adoption of new accounting standards for segment reporting will provide a clearer view of business segment performance. The immediate challenge is to regain LIC's empanelment and address the factors contributing to the profitability decline.

Risks to watch

The primary risk is the sustained loss of institutional business due to the LIC de-empanelment. Profitability pressures on core operations also pose a significant risk. Investors will be watching the success of management's efforts to re-establish ties with LIC and improve earnings.

Peer comparison

Detailed peer comparison data was not available in the filing. However, the financial services sector often faces volatility due to market fluctuations and regulatory changes.

Context metrics (time-bound)

• Revenue FY26: ₹8.476 crore (vs ₹6.2504 crore in FY25)
• Standalone Profit FY26: ₹0.0747 crore (vs ₹1.5959 crore in FY25)
• Consolidated Profit/(Loss) FY26: ₹-0.2786 crore (vs ₹1.5539 crore in FY25)
• Subsidiary Acquisition: NDA Research and Technology Private Limited acquired on July 4, 2025.

What to track next

Investors should closely monitor the company's progress in re-empanelment with LIC, its ability to turn around the consolidated loss into profit, and the performance of its new securities trading activities.