539113
Paul Merchants financials
- Market cap
- ₹149 Cr
- Sector
- Financial Services
What Paul Merchants does
Paul Merchants Limited is a financial services company registered in New Delhi with its corporate office in Chandigarh. It operates through a network of 69 branch offices spread across states and union territories including Punjab, Haryana, Himachal Pradesh, Gujarat, Rajasthan, Madhya Pradesh, Maharashtra, Kerala, Telangana, Delhi and Chandigarh. The company has three wholly owned subsidiaries — PML Realtors (Pvt) Ltd, Paul Merchants Finance (Pvt) Ltd, and Paul Infotech (Pvt) Ltd — extending its activities into real estate, financing and information technology.
Segments
- Branch-network financial services
- Real estate
- Finance
- Information technology
- Branch offices
- 69
- States/UTs with branch presence
- 13
- Branch office cities
- 60+
- Regional coverage
- North, West, Central and South India
- Wholly owned subsidiaries
- 3 (real estate, finance, IT)
Quarterly results
Q1 FY27: revenue down 2.5%, net profit down 96.9% 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 | 986 | 750 | 582 | 493 | 593 −40% | 505 −33% | 482 −17% | 481 −3% |
| EBITDA | -1 | -3 | -3 | -4 | -8 −534% | -3 −19% | -0 +86% | 4 +207% |
| Net profit | 16 | 18 | 17 | 287 | -7 −141% | -14 −181% | 2 −86% | 9 −97% |
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 −33.8% 1Y
1Y: ₹735.55 on 10 Sept 2025 → ₹487.05. High ₹740 (18 Sept 2025), low ₹410.75 (30 Mar 2026).
Financials, as filed
Revenue fell 33.4% a year over 3 years, FY23 to FY26. Operating margin narrowed to -0.7%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹7.0k Cr | ₹6.6k Cr | ₹3.3k Cr | ₹2.1k Cr |
| Operating profit | ₹82 Cr | ₹84 Cr | ₹-7 Cr | ₹-15 Cr |
| Operating margin | 1.2% | 1.3% | -0.2% | -0.7% |
| Interest | ₹20 Cr | ₹31 Cr | ₹2 Cr | ₹1 Cr |
| Depreciation | ₹4 Cr | ₹6 Cr | ₹4 Cr | ₹5 Cr |
| Net profit | ₹43 Cr | ₹55 Cr | ₹64 Cr | ₹269 Cr |
| Net margin | 0.6% | 0.8% | 1.9% | 13.0% |
| Cash from operations | ₹-154 Cr | ₹-135 Cr | ₹448 Cr | ₹412 Cr |
| Free cash flow | ₹-162 Cr | ₹-146 Cr | ₹444 Cr | ₹403 Cr |
| ROCE | 11.0% | -5.0% | -10.0% | -31.0% |
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 | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr |
| Reserves | ₹426 Cr | ₹466 Cr | ₹510 Cr | ₹562 Cr | ₹907 Cr | ₹894 Cr |
| Borrowings | ₹80 Cr | ₹132 Cr | ₹307 Cr | ₹493 Cr | ₹12 Cr | ₹10 Cr |
| Other liabilities | ₹29 Cr | ₹51 Cr | ₹72 Cr | ₹98 Cr | ₹60 Cr | ₹32 Cr |
| Total liabilities | ₹535 Cr | ₹649 Cr | ₹890 Cr | ₹1.2k Cr | ₹981 Cr | ₹940 Cr |
| Fixed assets | ₹63 Cr | ₹63 Cr | ₹67 Cr | ₹72 Cr | ₹69 Cr | ₹135 Cr |
| Capital work in progress | ₹1 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹37 Cr | ₹30 Cr | ₹24 Cr | ₹22 Cr | ₹644 Cr | ₹306 Cr |
| Other assets | ₹434 Cr | ₹555 Cr | ₹799 Cr | ₹1.1k Cr | ₹268 Cr | ₹499 Cr |
| Total assets | ₹535 Cr | ₹649 Cr | ₹890 Cr | ₹1.2k Cr | ₹981 Cr | ₹940 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
Since Jun 2025, FIIs trimmed −0.16 pp while the public added +0.15 pp. The shareholder count shrank 4% to 4,237.
- Promoters
- 74.7%
- Public
- 25.3%
Since Jun 2025
- FIIs −0.16 pp
- Public +0.15 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 74.7%, Public 25.4%.Dec '23: Promoters 74.7%, Public 25.4%.Mar '24: Promoters 74.7%, Public 25.4%.Jun '24: Promoters 74.7%, Public 25.4%.Sep '24: Promoters 74.7%, FIIs 0.2%, Public 25.1%.Dec '24: Promoters 74.7%, FIIs 0.2%, Public 25.1%.Mar '25: Promoters 74.7%, FIIs 0.2%, Public 25.2%.Jun '25: Promoters 74.7%, FIIs 0.2%, Public 25.2%.Sep '25: Promoters 74.7%, FIIs 0.2%, Public 25.2%.Dec '25: Promoters 74.7%, FIIs 0.2%, Public 25.2%.Mar '26: Promoters 74.7%, Public 25.4%.Jun '26: Promoters 74.7%, Public 25.3%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Paul Merchants above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Rajneesh Bansal | 28.62% | unchanged |
| Sarita Bansal | 18.04% | unchanged |
| Sat Paul Bansal | 18.04% | unchanged |
| Paul Excursions LLP | 9.96% | unchanged |
| Vikram Gupta | 3.50% | unchanged |
| Vinod Kumar Garg | 2.38% | unchanged |
| Nita Bansal | 0.00% | unchanged |
| Sandeep Bansal | 0.00% | 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 Paul Merchants
Guides on how to read this kind of business and the numbers that matter.