Why did the full-year profit drop if Q4 was so strong?

The full-year profit fell because the first nine months were weak enough to offset the 72% jump in Q4. The filing does not break out quarterly performance beyond the final quarter.

What was the auditor's conclusion?

The statutory auditor issued an unmodified opinion, which is a clean report with no qualifications or emphasis-of-matter paragraphs.

What changed on the board level?

The board appointed M/s RGAR & Associates as the new internal auditor for the company.

Is Kalyan Capitals a standalone or consolidated story?

The company reported both sets of results. The key numbers cited—₹110.5 lacs Q4 profit and ₹142.2 lacs FY26 profit—are on a standalone basis.

Earnings · Finance · Micro cap

Kalyan Capitals posts FY26 profit drop after a strong Q4

Q4 standalone profit jumped 72%, but full-year profit fell 34% on a weaker first nine months.

— 3 earlier stories on Kalyan Capitals Ltd. →

KALYANCAP By Tipsheet Editorial 25 May 2026 · 8:06 PM IST Verify on BSE · NSE

Mkt cap₹44.01 cr

P/E9.78×

ROE5.04%

Debt / eq.3.77

₹142.2 lacs FY26 standalone profit before tax, down from ₹217.17 lacs.

What's new

Q4 standalone profit before tax surged 72% to ₹110.5 lacs from ₹64.31 lacs.
Full-year profit before tax fell 34% to ₹142.2 lacs from ₹217.17 lacs.
The statutory auditor issued an unmodified opinion on the results.

Why this matters

The annual numbers tell a split story. A weak first nine months dragged the full-year result, but a strong Q4 quarter suggests momentum is building. The audit opinion is clean, which is the baseline expectation for a regulated NBFC.

What we're watching

Whether the Q4 earnings momentum carries into FY27.
Performance of the consolidated entity, which was also reported.
New internal auditor M/s RGAR & Associates' first review cycle.

The full read

Kalyan Capitals' annual results show a year that ended on a different note than it started. Q4 standalone profit before tax jumped 72% to ₹110.5 lacs from ₹64.31 lacs. But the full-year number tells the real story: profit dropped 34% to ₹142.2 lacs from ₹217.17 lacs, meaning the first nine months were a drag. The statutory auditor gave a clean, unmodified opinion. For a nano-cap NBFC, that is the minimum required. The board also appointed a new internal auditor, M/s RGAR & Associates. The filing is routine compliance. The only actionable data point is the Q4 surge, which could signal a turn, but the annual decline means the base is weak.

Questions answered

Why did the full-year profit drop if Q4 was so strong?: The full-year profit fell because the first nine months were weak enough to offset the 72% jump in Q4. The filing does not break out quarterly performance beyond the final quarter.
What was the auditor's conclusion?: The statutory auditor issued an unmodified opinion, which is a clean report with no qualifications or emphasis-of-matter paragraphs.
What changed on the board level?: The board appointed M/s RGAR & Associates as the new internal auditor for the company.
Is Kalyan Capitals a standalone or consolidated story?: The company reported both sets of results. The key numbers cited—₹110.5 lacs Q4 profit and ₹142.2 lacs FY26 profit—are on a standalone basis.

Mentioned: Q4 FY26 · ₹110.5 lacs PBT · ₹142.2 lacs FY26 PBT

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

Kalyan Capitals Ltd.

Financial Services

₹47 cr

P/E 10.54×

Latest quarter · Mar 2026

Total income₹8 cr

Net profit₹1 cr

Net margin+11.9%

EPS₹0.14

Leverage & growth

Debt / equity3.77×

Sales CAGR−1.6%

Story so far

All notes on KALYANCAP →

25 May 2026 · 8:06 PM IST Kalyan Capitals posts FY26 profit drop after a strong Q4
40d ago Kalyan Capitals reports mixed annual results for FY26
41d ago Kalyan Capitals reports mixed annual results for FY26
42d ago Kalyan Capitals' FY26 profit drops even as Q4 bounces back