SDL
Span Divergent financials
- Market cap
- ₹27 Cr
Quarterly results
Q1 FY27: revenue down 4.7%, net profit down 600.0% 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 | 3 | 2 | 1 | 1 | 8 +173% | 4 +103% | 5 +745% | 1 −5% |
| EBITDA | 0 | -0 | -1 | -1 | 0 −100% | -1 −391% | -1 +9% | -1 −58% |
| Net profit | 0 | -0 | -1 | -0 | -0 −460% | -1 −438% | -1 −9% | -1 −600% |
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 +25.7% 1Y
1Y: ₹23.31 on 8 Sept 2025 → ₹29.3. High ₹49.11 (30 Jun 2026), low ₹21.76 (7 Nov 2025).
Financials, as filed
Revenue grew 16.7% a year over 2 years, FY24 to FY26. Operating margin narrowed to -15.1%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹13 Cr | ₹9 Cr | ₹17 Cr |
| Operating profit | ₹1 Cr | ₹-1 Cr | ₹-3 Cr |
| Operating margin | 11.1% | -7.4% | -15.1% |
| Interest | ₹1 Cr | ₹1 Cr | ₹0 Cr |
| Depreciation | ₹2 Cr | ₹1 Cr | ₹1 Cr |
| Net profit | ₹1 Cr | ₹-1 Cr | ₹-3 Cr |
| Net margin | 6.1% | -14.3% | -15.1% |
| Cash from operations | ₹3 Cr | ₹2 Cr | ₹0 Cr |
| Free cash flow | ₹2 Cr | ₹2 Cr | ₹-0 Cr |
| ROCE | 36.0% | -186.8% | -34.1% |
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 | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹7 Cr |
| Reserves | ₹7 Cr | ₹-3 Cr | ₹-8 Cr | ₹-7 Cr | ₹-8 Cr | ₹8 Cr |
| Borrowings | ₹18 Cr | ₹13 Cr | ₹11 Cr | ₹9 Cr | ₹7 Cr | ₹7 Cr |
| Other liabilities | ₹4 Cr | ₹12 Cr | ₹17 Cr | ₹17 Cr | ₹23 Cr | ₹7 Cr |
| Total liabilities | ₹34 Cr | ₹28 Cr | ₹25 Cr | ₹24 Cr | ₹28 Cr | ₹29 Cr |
| Fixed assets | ₹18 Cr | ₹15 Cr | ₹13 Cr | ₹11 Cr | ₹10 Cr | ₹9 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹9 Cr | ₹4 Cr | ₹4 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr |
| Other assets | ₹7 Cr | ₹8 Cr | ₹8 Cr | ₹8 Cr | ₹12 Cr | ₹14 Cr |
| Total assets | ₹34 Cr | ₹28 Cr | ₹25 Cr | ₹24 Cr | ₹28 Cr | ₹29 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, the public added +15.88 pp while promoters trimmed −15.87 pp. The shareholder count shrank 4% to 2,062.
- Promoters
- 48.1%
- Public
- 51.9%
Since Jun 2025
- Public +15.88 pp
- Promoters −15.87 pp
How it drifted, 12 quarters
Over this window promoters fell from 64.0% to 48.1% — −15.9 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 64.0%, Public 36.0%.Dec '23: Promoters 64.0%, Public 36.0%.Mar '24: Promoters 64.0%, Public 36.0%.Jun '24: Promoters 64.0%, Public 36.0%.Sep '24: Promoters 64.0%, Public 36.0%.Dec '24: Promoters 64.0%, Public 36.0%.Mar '25: Promoters 64.0%, Public 36.0%.Jun '25: Promoters 64.0%, Public 36.0%.Sep '25: Promoters 64.0%, Public 36.0%.Dec '25: Promoters 64.0%, Public 36.0%.Mar '26: Promoters 48.1%, Public 51.9%.Jun '26: Promoters 48.1%, Public 51.9%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Span Divergent Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Pradipkumar Keshavlal Desai | 32.16% | unchanged |
| Neev Nirav Jogani | 24.80% | unchanged |
| Viral Pradipkumar Desai | 9.47% | unchanged |
| Bhartiben Natwerlal Patel | 7.92% | unchanged |
| Gita Sureshbhai Desai | 1.58% | unchanged |
| Investor Education and Protection Fund (IEPF) | 1.55% | unchanged |
| Sanjay N Mehta Huf | 1.51% | unchanged |
| Sujata V Desai | 1.40% | unchanged |
| Luxmi Kant Gupta | 1.26% | unchanged |
| Udaybhai Dhirubhai Desai | 1.23% | unchanged |
| Suresh D Desai | 0.46% | unchanged |
| Tejal Vivek Desai | 0.41% | 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.
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