What’s new

• Net profit surged to ₹3.16 crore from ₹0.32 crore a year ago.
• Total income rose 306% to ₹8.02 crore on higher interest income.
• Name change to Dhruja Finance Limited awaits final BSE clearance.

Why it matters

For a nano-cap NBFC with a market cap of about ₹58-62 crore, a quarterly profit of ₹3.16 crore is a material step change. Annualised, it would dwarf the trailing P/E of 28, but the base is tiny and repeatability is unproven.

What we’re watching

• Whether revenue and profit momentum continues into Q2.
• Final BSE approval for the Dhruja Finance name change.
• Asset quality trends - impairments were lower this quarter.

The full read

F Mec International Financial Services just reported a quarter that makes its previous look like a rounding error. Net profit for Q1 FY27 hit ₹3.16 crore - about ten times the ₹0.32 crore a year ago. Revenue climbed 306% to ₹8.02 crore, driven by a jump in interest income and lower impairments. The company, a nano-cap NBFC with a market cap of about ₹62 crore, also disclosed it has all but the final BSE approval for its planned name change to Dhruja Finance Limited. The numbers are impressive in isolation, but the base is tiny. This quarter alone accounts for more than half of the previous fiscal year's profit. The open question is whether the lending operation can sustain this pace, or whether the growth reflects a one-off normalisation after a low base. Q2 numbers will provide a clearer picture.

Primary source: BSE · NSE