NCL Research and Financial Services quarterly results and financials

NCL Research and Financial Services (BSE 530557)₹0.6500−4.41%(9 Nov 2026 close)Non Banking Financial Company (NBFC)

Key facts

In the Mar 2026 quarter (standalone), NCL Research and Financial Services reported revenue of ₹0.27 Cr, down 86.6% from Mar 2025, and net profit of −₹5.60 Cr, down 5,190.9% year on year. For the year to Mar 2026, revenue were ₹6.14 Cr and net profit −₹2.61 Cr.

Revenue (Mar 2026): ₹0.27 Cr
Net profit (Mar 2026): −₹5.60 Cr
Revenue (FY Mar 2026): ₹6.14 Cr
Net profit (FY Mar 2026): −₹2.61 Cr
EPS (Mar 2026): ₹−0.04
Borrowings (Mar 2026): ₹0 Cr

Company filings, standalone accounts; latest reported quarter Mar 2026

NCL Research and Financial Services quarterly results

₹ crore unless stated; each column is a quarter.

NCL Research and Financial Services Quarterly results
	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	1.07	1.18	1.20	7.18	1.37	1.47	3.64	2.01	1.81	1.92	2.12	0.27
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.00
Net interest income	1.07	1.18	1.20	7.18	1.37	1.47	3.63	2.01	1.81	1.92	2.12	0.27
Expenses	0.37	0.63	0.31	8.21	3.99	1.02	2.77	1.26	0.31	0.35	1.54	6.57
Financing Profit	0.71	0.56	0.90	−1.04	−2.63	0.46	0.86	0.76	1.51	1.58	0.59	−6.33
Financing Margin %	64.9%	46.3%	73.6%	−14.2%	−189.8%	30.5%	23.3%	37.2%	82.5%	81.4%	27.3%	−2,253.5%
Other Income	−0.05	−0.77	0.54	1.21	0.90	1.07	−1.36	−0.63	0.79	−0.26	0.00	−0.56
Depreciation	0.00	0.00	0.00	0.01	0.00	0.00	0.01	0.01	0.00	0.00	0.00	0.00
Profit before tax	0.66	−0.21	1.40	0.14	−1.73	1.49	−0.51	0.10	2.26	1.30	0.56	−6.86
Tax %	26.1%	−27.3%	24.8%	−53.4%	24.1%	26.6%	−27.0%	18.1%	25.1%	25.2%	28.0%	−18.5%
Net Profit	0.49	−0.16	1.06	0.25	−2.15	1.08	−0.37	0.11	1.71	0.99	0.42	−5.60
EPS (Rs)	0.00	0.00	0.00	0.00	−0.01	0.00	0.00	0.00	0.01	0.00	0.00	−0.04

NCL Research and Financial Services profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

NCL Research and Financial Services Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue	4.65	7.33	2.80	3.39	2.42	1.84	1.95	3.94	10.79	8.50	6.14	6.12
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.11	0.01	0.01	0.00	0.00
Net interest income	4.65	7.33	2.80	3.39	2.42	1.84	1.95	3.83	10.78	8.49	6.14	6.12
Expenses	4.49	7.40	2.68	3.23	2.41	1.83	0.85	2.99	9.48	9.93	8.89	8.77
Financing Profit	0.18	−0.07	0.13	0.17	0.02	0.02	1.11	0.85	1.32	−1.46	−2.77	−2.65
Financing Margin %	3.7%	−0.8%	4.3%	4.7%	0.4%	0.5%	56.2%	21.3%	12.2%	−17.0%	−44.8%	−43.3%
Other Income	0.00	0.00	0.00	0.00	0.02	0.02	0.02	0.02	0.74	0.86	−0.03	−0.03
Depreciation	0.03	0.00	0.00	0.00	0.00	0.00	0.04	0.04	0.04	0.05	0.03	0.00
Profit before tax	0.12	−0.05	0.11	0.15	0.03	0.01	1.05	0.79	1.98	−0.65	−2.81	−2.74
Tax %	30.7%	−16.7%	41.7%	31.2%	50.0%	0.0%	0.9%	24.9%	18.6%	106.0%	−7.8%	—
Net Profit	0.09	−0.06	0.08	0.12	0.03	0.02	1.05	0.61	1.62	−1.37	−2.61	−2.48
EPS (Rs)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	−0.01	−0.03
Dividend payout %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—

NCL Research and Financial Services balance sheet

₹ crore, at each year end.

NCL Research and Financial Services Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	29.00	29.00	29.01	29.01	29.02	29.01	29.00	58.05	107	107	107	107
Reserves	32.41	32.56	32.53	32.57	32.70	32.72	32.74	4.81	17.07	3.69	5.91	2.61
Borrowings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.99	0.00	0.00	0.00	0.00
Other Liabilities	0.54	0.15	0.21	0.15	0.67	0.14	0.27	0.31	4.91	2.49	9.49	12.07
Total Liabilities	61.95	61.71	61.75	61.73	62.39	61.87	62.01	64.16	129	113	122	121
Fixed Assets	0.06	0.02	0.02	0.01	0.01	0.01	0.01	0.20	0.16	0.16	0.11	0.09
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	6.24	6.74	7.84	9.89	11.96	15.36	40.05	19.71	2.85	2.95
Other Assets	61.89	61.69	55.49	54.98	54.54	51.97	50.04	48.60	88.60	93.15	119	118
Inventories	0.99	4.01	0.99	2.01	1.99	0.99	0.99	2.01	1.01	1.01	0.00	0.00
Trade receivables	2.01	2.01	2.01	2.01	2.01	2.01	2.01	2.01	2.01	2.01	4.01	2.01
Cash & equivalents	1.01	2.01	1.01	1.01	1.01	1.01	1.01	1.01	0.99	1.01	0.00	0.00
Total Assets	61.95	61.71	61.75	61.73	62.39	61.87	62.01	64.16	129	113	122	121

NCL Research and Financial Services cash flow

₹ crore, for each year.

NCL Research and Financial Services Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	1.53	3.17	−3.78	−0.12	−0.33	2.17	2.04	3.92	−24.49	−20.22	−17.49	0.89
Cash from investing activity	−0.72	−2.67	3.05	0.00	0.00	−2.05	−2.07	−3.40	−24.45	20.29	16.84	−0.04
Cash from financing activity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	−0.25	48.99	−0.07	0.02	−0.60
Net cash flow	0.80	0.49	−0.72	−0.12	−0.33	0.10	−0.06	0.27	−0.15	0.12	−0.58	0.25
Capex	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02
Free cash flow	1.52	3.15	−3.76	−0.10	−0.31	2.15	2.02	3.90	−24.41	−20.17	−17.44	0.86
CFO / OP %	175.1%	1,859.0%	6,283.1%	−75.0%	−175.0%	21,700.1%	20,300.1%	357.1%	−2,527.0%	−1,490.9%	1,173.1%	−62.0%

NCL Research and Financial Services ratios

Working-capital days and returns, by year.

NCL Research and Financial Services Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROE %	0.9%	0.1%	−0.1%	0.1%	0.2%	0.0%	0.0%	1.7%	0.6%	1.4%	−1.2%	−2.3%

NCL Research and Financial Services: frequently asked questions

What are the latest quarterly results of NCL Research and Financial Services?

For the Mar 2026 quarter, NCL Research and Financial Services reported revenue of ₹0.27 Cr, down 86.6% year on year and net profit of −₹5.60 Cr, down 5,190.9% year on year.

What is the annual revenue of NCL Research and Financial Services?

NCL Research and Financial Services' revenue for the year to Mar 2026 were ₹6.14 Cr; over the last twelve months they were ₹6.12 Cr.

What is the net profit of NCL Research and Financial Services?

Net profit for the year to Mar 2026 was −₹2.61 Cr, and −₹2.48 Cr over the last twelve months. Earnings per share over the same trailing period were ₹−0.03.

What is the free cash flow of NCL Research and Financial Services?

Cash from operations was ₹0.89 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹0.86 Cr.

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