538942
Mercantile Vent. financials
- Market cap
- ₹269 Cr
- Sector
- Services
What Mercantile Vent. does
Mercantile Ventures Limited runs two operating segments: leasing of immovable properties and manpower supply services (including maintenance and housekeeping). A significant part of this business is delivered under a related-party arrangement with Southern Petrochemical Industries Corporation Limited (SPIC), which holds over 10% of MVL's equity and receives lease rentals, manpower supply, and maintenance/housekeeping services from the company. Beyond these operations, MVL acts as a promoter/investment holding entity, having acquired 38.41% of the equity of India Radiators Limited in July 2024 to become its promoter, and holds subsidiaries Walery Security Management Limited, i3 Security Private Limited and Chitaranjan Developers LLP.
Segments
- Leasing of immovable properties
- Manpower supply services
- Operating segments
- 2 (Leasing of immovable properties; Manpower supply, maintenance & housekeeping services)
- Subsidiaries
- 4 (India Radiators Limited, Walery Security Management Limited, i3 Security Private Limited, Chitaranjan Developers LLP)
- Equity stake in India Radiators Limited
- 38.41% (acquired Jul 2024, became promoter)
- Key related-party service client
- Southern Petrochemical Industries Corporation Ltd (SPIC) — lease rentals, manpower supply, maintenance & housekeeping
Quarterly results
Q1 FY27: revenue up 9.3%, net profit up 301.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 18 | 18 | 19 | 21 | 24 +32% | 25 +37% | 24 +23% | 23 +9% |
| EBITDA | 1 | 1 | 0 | -0 | 1 −19% | 0 −33% | -0 −560% | -0 +77% |
| Net profit | 1 | 2 | 7 | -1 | -0 −106% | 1 −49% | 2 −76% | 1 +302% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −23.3% 1Y
1Y: ₹31.69 on 10 Sept 2025 → ₹24.3. High ₹32.49 (11 Sept 2025), low ₹17.68 (30 Mar 2026).
Financials, as filed
Revenue grew 25.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 0.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹47 Cr | ₹60 Cr | ₹72 Cr | ₹93 Cr |
| Operating profit | ₹3 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr |
| Operating margin | 7.0% | 0.1% | 1.9% | 0.5% |
| Interest | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Net profit | ₹17 Cr | ₹-16 Cr | ₹16 Cr | ₹2 Cr |
| Net margin | 35.2% | -27.2% | 22.6% | 2.0% |
| Cash from operations | ₹-14 Cr | ₹39 Cr | ₹-33 Cr | ₹1 Cr |
| Free cash flow | ₹-14 Cr | ₹38 Cr | ₹-38 Cr | ₹1 Cr |
| ROCE | 2.7% | 1.0% | 1.5% | 0.8% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹112 Cr | ₹112 Cr | ₹112 Cr | ₹112 Cr | ₹112 Cr | ₹112 Cr |
| Reserves | ₹191 Cr | ₹226 Cr | ₹199 Cr | ₹221 Cr | ₹211 Cr | ₹161 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹4 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹9 Cr | ₹18 Cr | ₹21 Cr | ₹64 Cr | ₹58 Cr | ₹33 Cr |
| Total liabilities | ₹312 Cr | ₹356 Cr | ₹337 Cr | ₹397 Cr | ₹381 Cr | ₹306 Cr |
| Fixed assets | ₹77 Cr | ₹77 Cr | ₹77 Cr | ₹90 Cr | ₹94 Cr | ₹94 Cr |
| Capital work in progress | ₹44 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹90 Cr | ₹148 Cr | ₹177 Cr | ₹175 Cr | ₹218 Cr | ₹150 Cr |
| Other assets | ₹101 Cr | ₹132 Cr | ₹83 Cr | ₹131 Cr | ₹69 Cr | ₹63 Cr |
| Total assets | ₹312 Cr | ₹356 Cr | ₹337 Cr | ₹397 Cr | ₹381 Cr | ₹306 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025.
- Promoters
- 72.8%
- Public
- 27.3%
Since Jun 2025
- Promoters 0.00 pp
- Public 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 72.8%, Public 27.2%.Dec '23: Promoters 72.8%, Public 27.2%.Mar '24: Promoters 72.8%, Public 27.3%.Jun '24: Promoters 72.8%, Public 27.3%.Sep '24: Promoters 72.8%, Public 27.2%.Dec '24: Promoters 72.8%, Public 27.2%.Mar '25: Promoters 72.8%, Public 27.2%.Jun '25: Promoters 72.8%, Public 27.3%.Sep '25: Promoters 72.8%, Public 27.3%.Dec '25: Promoters 72.8%, Public 27.2%.Mar '26: Promoters 72.8%, Public 27.3%.Jun '26: Promoters 72.8%, Public 27.3%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Mercantile Vent. above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Trinity Auto Points Ltd | 31.59% | unchanged |
| South India Travels Pvt Ltd | 16.63% | unchanged |
| Southern Petrochemical Industries Corporationlimited | 13.43% | unchanged |
| Ranford Investments Ltd | 6.98% | unchanged |
| Sicagen India Limited | 6.90% | unchanged |
| Darnolly Investments Ltd | 5.75% | unchanged |
| Twinshield Consultants Private Limited | 4.72% | unchanged |
| Spic Group Companies Employees Welfare Foundation | 2.03% | unchanged |
| Spic Officers And Staff Welfare Foundation | 1.84% | unchanged |
| First Leasing Co Of India Ltd | 0.16% | unchanged |
| Ac Muthiah | 0.01% | unchanged |
| Navia Markets Limited | 0.01% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Mercantile Vent.
Guides on how to read this kind of business and the numbers that matter.