Tilak Ventures posted a net profit of Rs 9.62 crore for FY26, up from Rs 6.27 crore in the previous year. The company successfully completed a Rs 89.14 crore rights issue and expanded its operations in finance and commodities. However, investors should note ongoing SEBI litigations and an audit qualification regarding unlisted asset valuations.
Tilak Ventures Reports Higher FY26 Profit Amid Regulatory Hurdles
Net Profit: Rs 9.62 Crore (FY26) vs Rs 6.27 Crore (FY25)
Total Revenue: Rs 35.31 Crore (FY26) vs Rs 26.06 Crore (FY25)
Reader Takeaway: Revenue and profit grew, but audit concerns over unlisted investment valuations and pending SEBI litigation require investor caution.
What just happened
Tilak Ventures has released its Annual Report for the fiscal year ended March 31, 2026. The company saw top-line growth to Rs 35.31 crore, while its equity capital base expanded significantly to Rs 133.71 crore following a rights issue of 89.14 crore shares. During the year, the company divested its entire stake in subsidiary Yosto Venture (India) Private Limited.
Why this matters
While the company showed improved operational performance, the statutory auditor raised concerns regarding the valuation of Rs 18.44 crore worth of unlisted equity investments, which were valued using the Net Book Value method rather than an independent valuation. Additionally, the company continues to face legal challenges regarding past SEBI adjudication orders, including a penalty for insider trading and allegations related to PFUTP violations.
Management and Governance
There have been notable changes in leadership, including the appointment of Pratiksha Vaibhav Modi as the new Company Secretary and Mayank Borana as a Non-Executive Independent Director. Shareholders are also being asked to approve a Material Related Party Transaction limit of Rs 3.25 crore for the upcoming year.
Risks to watch
The company has paid a Rs 70 lakh penalty related to insider trading under protest and is appealing the case in the Supreme Court. A separate penalty of Rs 28 lakh is currently being contested in the Securities Appellate Tribunal, where an interim stay is in place.
What to track next
Investors should monitor updates regarding the Supreme Court and SAT proceedings, as well as any steps taken by the management to address the auditor’s concerns regarding the valuation of unlisted investments.