Whalesbook
NDL Ventures has reported its audited financial results for the fiscal year ending March 31, 2026. The company announced a net profit after tax (PAT) of ₹0.91 crore, marking a substantial increase from ₹0.59 crore in the previous fiscal year (FY25).
While profit saw a significant year-on-year jump, revenue from operations experienced a minor dip, recording ₹4.89 crore for FY26 compared to ₹4.94 crore in FY25. The company's board has recommended a final dividend of ₹0.50 per share, subject to shareholder approval. The auditor's report accompanying the results offered an unmodified opinion, indicating no major concerns raised by the auditors.
Why the Results Matter
The reported profit growth offers a positive signal for NDL Ventures' shareholders. The proposed dividend provides a direct financial return to investors. However, the company's future trajectory is predominantly tied to its pending merger with Hinduja Leyland Finance Limited (HLFL). The successful completion of this merger is anticipated to significantly reshape NDL Ventures' business profile and potential for value creation.
Background on NDL Ventures and the Merger
NDL Ventures Limited, a company within the Hinduja Group, currently focuses on real estate and treasury activities. This follows the demerger of its media and communications business into Hinduja Global Solutions Limited. The company is in the process of a significant merger by absorption with HLFL.
This strategic combination has already received key approvals. The Reserve Bank of India (RBI) gave its nod in August 2025, followed by the NDL Ventures board's sanction in November 2025. The Competition Commission of India (CCI) approved the merger in February 2026. Upon completion, NDL Ventures, which was previously non-operational, is set to transform into a significant Non-Banking Financial Company (NBFC), incorporating HLFL's established vehicle and property financing operations.
Impact of the Merger
Shareholders can anticipate a dividend payout of ₹0.50 per share if approved. More critically, the merger, once all necessary approvals are secured, will fundamentally alter NDL Ventures' operational landscape. It is poised to emerge as a prominent player in the NBFC sector, integrating HLFL's extensive financing business.
Potential Risks
The finalization of the merger with Hinduja Leyland Finance hinges on obtaining outstanding statutory, regulatory, and National Company Law Tribunal (NCLT) approvals. Additionally, the slight decrease in revenue from operations for FY26 compared to FY25 suggests some marginal pressure on the company's top line.
Peer Landscape
In the broader financial services industry, NDL Ventures will operate alongside established entities such as Bajaj Finance Ltd, Shriram Finance Ltd, and Bajaj Finserv Ltd. These companies serve as benchmarks in the NBFC and diversified financial services sectors, highlighting the competitive environment the merged entity will enter.
Key Areas to Monitor
Investors will be watching for shareholder approval of the proposed final dividend of ₹0.50 per share. Continued progress in securing the remaining statutory, regulatory, and NCLT approvals for the HLFL merger remains a critical point. Furthermore, tracking the operational performance and strategic execution of the consolidated entity post-merger will be important. Evaluating the realization of expected synergies and the combined NBFC business's market positioning will also be key.