| PE TTM | 20.62xSector 45.09x |
|---|---|
| Market Cap | ₹1,968 CrCommercial Services |
| RSI | 32.91Neutral Zone |
| Promoter Holding | 75.0%No Pledge |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 121 | 73.4 | 44.0 |
| Other Income | 0.4 | 0.4 | 0.3 |
| Total Income | 122 | 73.7 | 44.3 |
| Profit Before Tax | 120 | 72.5 | 42.5 |
| Net Profit | 92.1 | 57.6 | 31.7 |
| Operating Margin | 98.8% | 98.4% | 95.9% |
| Net Profit QoQ | +59.9% | ||
| Net Profit YoY | +190.5% | ||
| Adj. Profit QoQ | +66.0% | ||
| Adj. Profit YoY | +183.6% | ||
Key highlights
- Net profit grew by 190.5% year-on-year to ₹92.1 crore, up from ₹31.7 crore in Q2 FY26
- Revenue from operations rose 175% to ₹121 crore against ₹44.0 crore in the previous year's corresponding quarter
- Operating margins expanded to 98.8% in Q2 FY27, compared to 95.9% in Q2 FY26
- Sequential net profit increased by 59.9% from the ₹57.6 crore recorded in Q1 FY27
- Total assets on a consolidated basis grew to ₹11,134.80 crore as of September 30, 2026
Income Driven by Dividend Gains and Fair Value Adjustments
Elcid Investments, which operates as an investment-focused Non-Banking Financial Company (NBFC), saw its total income climb to ₹122 crore for the quarter ended September 30, 2026. This significant increase from the ₹44.3 crore reported in the year-ago period was primarily driven by higher dividend income and net gains on fair value changes of its financial instruments. The company’s consolidated revenue for the first half of FY27 reached ₹194.62 crore, marking a steady trajectory compared to the ₹135.95 crore earned in the first half of the previous fiscal year.
The revenue growth outperformed the sector average of 42.21% for the same period.
Asset Portfolio and Subsidiary Performance
- Consolidated total assets reached ₹11,134.80 crore as of September 30, 2026, primarily comprised of investments
- Investments at fair value were recorded at ₹11,084.39 crore, representing the core of the company's balance sheet
- The consolidated entity includes the performance of two 100% subsidiaries: Murahar Investments and Suptaswar Investments
- Employee benefit expenses remained minimal at ₹0.17 crore for the quarter, supporting high operating efficiency
- Cash and cash equivalents improved to ₹10.82 crore from ₹2.30 crore reported at the start of the fiscal year
Margin Expansion and Market Valuation
The company’s operating margin improved to 98.8% during the quarter, reflecting the scalability of its investment holding model which requires minimal operating overhead. Elcid's current P/E TTM of 20.62x trades at a discount to the industry P/E of 25.87x and the broader sector P/E of 45.09x. Despite the strong quarterly earnings growth, the stock has faced a 1-year price change of negative 25.95%, currently trading at ₹98,400.
The company maintains a high level of promoter stability with 75% holding and no pledged shares, while institutional holding remains negligible at 0.06%.
Business Model Definition
The Company is a Non Banking Financial Company and has no activities other than those of an investment company.
| Date | Announcement | Amount |
|---|---|---|
| 13 Aug 2026 | Consolidated net profit for quarter ended 30 Jun 2026Source: screener.in | ₹57.57 Cr |
| 25 May 2026 | Consolidated net loss for quarter ended 31 Mar 2026Source: hdfcsec.com | ₹-41.22 Cr |
| 28 Jan 2026 | Consolidated net profit for quarter ended 31 Dec 2025Source: BSE filing | ₹47.38 Cr |
| 07 Nov 2025 | Consolidated net profit for quarter ended 30 Sep 2025Source: perivis.com | ₹31.74 Cr |
| 08 Aug 2025 | Consolidated net profit for quarter ended 30 Jun 2025Source: market data.com | ₹74.62 Cr |
| 28 May 2025 | Consolidated net loss for quarter ended 31 Mar 2025Source: hdfcsec.com | ₹-19.54 Cr |
What to watch next
- Scheduled board meeting for Q3 FY27 results in January 2027
- Monitoring dividend declarations from major equity holdings such as Asian Paints
- Assessment of market value fluctuations in the consolidated investment portfolio as of December 31, 2026
| Share price | ₹98400 |
|---|---|
| Market capitalisation | ₹1,968.00 Cr |
| Revenue (annual) | ₹133.97 Cr |
| Net profit (annual) | ₹108.52 Cr |
| Revenue (latest quarter) | ₹73.39 Cr+215.16% vs previous quarter |
| Net profit (latest quarter) | ₹57.57 Cr+239.65% vs previous quarter |
| P/E (TTM) | 20.62×Sector 45.09× |
| Promoter holding | 75%0.00% QoQ |
| FII holding | 0%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Elcid Investments Limited announcing its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. Market figures from a third-party data provider.
