Longspur's revenue drops 56%. A ₹20 cr raise looms over the tiny balance sheet.
FY26 revenue fell to ₹4.13 cr from ₹9.40 cr. A ₹20 cr preferential allotment is pending.
What's new
- Longspur's annual revenue fell 56% to ₹4.13 cr in the year ended March 31, 2026
- Net profit held roughly flat at ₹0.53 cr despite the revenue collapse
- A previously announced preferential allotment of about ₹20 cr is pending
Why this matters
A 56% revenue drop at a ₹10 cr market cap company makes the pending ₹20 cr preferential allotment the entire story. The raise would more than double the company's equity capital, dwarfing anything in the reported numbers.
What we're watching
- Completion of the ₹20 cr preferential allotment and its impact on equity
- Whether the capital infusion funds a new business line or simply shores up the balance sheet
- Any commentary on the revenue contraction's cause
The full read
Longspur International Ventures, a ₹10 crore nano-cap, just posted FY26 results that show annual revenue fell 56% to ₹4.13 crore from ₹9.40 crore a year earlier. Net profit held at ₹0.53 crore, implying cost cuts matched the sales drop. The numbers themselves are backward-looking and routine. What gives them context is the company's previously announced preferential allotment of about ₹20 crore. That raise is more than double Longspur's current market cap and has not yet been fully reflected in the equity capital base. For a company this small, the ₹20 crore infusion is the entire forward story. The reported results are the past. The allotment is the future.
Questions answered
- How badly did Longspur's revenue fall in FY26?
- Annual revenue dropped 56% to ₹4.13 crore from ₹9.40 crore in the prior fiscal year. Net profit, however, stayed around ₹0.53 crore.
- What is the preferential allotment, and why does it matter?
- Longspur previously announced a preferential allotment of about ₹20 crore. For a company with a ₹10 crore market cap and ₹4.13 crore in annual sales, this is a massive capital raise that is not yet fully reflected in the reported equity base.
- Why did profit hold up despite the revenue drop?
- The filing does not provide a breakdown. The results show net profit of ₹0.53 crore on revenue of ₹4.13 crore, suggesting costs were cut in line with the sales decline.
- How large is the company, really?
- Longspur is a nano-cap with a market capitalisation of just ₹10 crore. The pending ₹20 crore raise is double its current market value.