What’s new

• Lyons posted a ₹30.40 lakh net profit for FY26, reversing a ₹42.87 lakh loss.
• Q4 total income of ₹127.45 lakhs was driven by a ₹115.29 lakh fair-value gain.
• Annual interest income grew ~27% to ₹1.08 crores; total equity expanded to ₹11.39 crores.

Why it matters

The profit is real but fragile. A single unrealised gain on investments delivered ₹115.29 lakhs of the ₹127.45 lakhs total income in Q4. Stripped out, the operating business produced about ₹12 lakhs. For a nano-cap with an ₹8 crore market cap, the valuation now rests on a portfolio that can swing the other way.

What we’re watching

• Whether the investment portfolio sustains its mark-to-market gains into FY27.
• Any shift in investment strategy given the tiny revenue base.
• The next quarterly mark-to-market to test the profit's stability.

The full read

Lyons Corporate Market is back in the black. The nano-cap posted a ₹30.40 lakh net profit for FY26, a swing from the ₹42.87 lakh loss a year earlier. The story underneath is less clean. The turnaround traces to a ₹115.29 lakh fair-value gain on investments booked in Q4. That single unrealised swing delivered most of the ₹127.45 lakhs total income. Stripped out, the company earned roughly ₹12 lakhs on ₹1.08 crores in interest income. Total equity expanded to ₹11.39 crores. The stock trades at an ₹8 crore market cap. That multiple is a bet on the portfolio, not the operating business. One bad quarter of mark-to-market would erase the profit and then some.

Primary source: BSE · NSE