Alchemist Corporation Limited has officially shifted from real estate to digital media and fintech following a change in control to Wallet Circle Technologies. The company reported a narrowed loss of Rs 0.08 crore for FY 2025-26 and is now seeking shareholder approval at the September 29 AGM for enhanced borrowing and lending limits of up to Rs 100 crore, alongside significant related party transactions.
Alchemist Corporation Pivots to Fintech and Digital Media
Revenue from Operations: Rs 5.17 crore (FY 2025-26)
Loss After Tax: Rs 0.08 crore (FY 2025-26)
Reader Takeaway: Business model pivot offers growth potential, but high reliance on related party transactions requires investor vigilance.
What just happened
Alchemist Corporation Limited has pivoted from its legacy real estate business to focus on software, e-commerce, and fintech. This transformation follows the acquisition of a controlling stake by Wallet Circle Technologies Limited. The company has presented its FY 2025-26 Annual Report, showing a revenue jump to Rs 5.17 crore from zero in the previous year, while narrowing its annual loss to Rs 0.08 crore.
Why this matters
The company is undergoing a complete operational overhaul. The upcoming Annual General Meeting (AGM) on September 29, 2026, includes critical resolutions seeking shareholder approval to authorize borrowing powers of up to Rs 100 crore. Furthermore, the board is seeking permission for significant related party transactions, including services and loans involving Wallet Circle Technologies and Anka India Limited, each capped at substantial levels.
The backstory
The shift in business strategy was prompted by the change in control to new promoters, Wallet Circle Technologies. With Mr. Arjit Sachdeva now at the helm as Managing Director, the company is moving away from real estate advisory and trading, aiming to capture opportunities in digital payments and software development.
Risks to watch
Investors should monitor the scale of the proposed related party transactions. The request to provide loans of up to Rs 50 crore to the parent entity and other associates indicates a complex capital relationship. Additionally, the company is still in a loss-making phase, and long-term viability depends on the successful execution of its new digital-first business model.
What to track next
Shareholders should closely evaluate the specifics of the resolutions presented at the AGM. The ability of the company to deploy the proposed Rs 100 crore funding limit efficiently while maintaining transparency in its inter-company dealings will be a key performance indicator.