Integrated Filing — IndAS



General information about company

Scrip Code 533452
NSE Symbol DELPHIFX
MSEI Symbol NOTLISTED
ISIN INE726L01019
Name of company Delphi World Money Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 14-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 11-11-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 14-11-2025   17:30:00
End date and time of board meeting 14-11-2025   20:10:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 4,966.10 6,160.50
Other income 80.60 541.30
Total income 5,046.70 6,701.80
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 1,060.60 1,299.70
(e) Finance costs 56.70 113.90
(f) Depreciation, depletion and amortisation expense 81.20 103.10
(f) Other Expenses
1 Rent 26.40 40.50
2 Provision for Expected Credit Loss (115.80) (232.30)
3 CSR Expenses 8.30 16.60
4 Legal and professional charges 74.30 94.00
5 Agency commission / incentives 2,480.50 1,386.20
6 Telephone, Internet, and Coruier Expenses 13.60 18.10
7 Travelling and Conveyance 41.60 57.30
8 Insurance 2.50 4.50
9 Repairs and maintenance-others 57.30 62.90
10 Miscellaneous expenses 1,044.50 2,912.10
Total other expenses 3,633.20 4,359.90
Total expenses 4,831.70 5,876.60
3 Total profit before exceptional items and tax 215.00 825.20
4 Exceptional items 0.00 0.00
5 Total profit before tax 215.00 825.20
6 Tax expense
7 Current tax 218.40 346.40
8 Deferred tax 13.20 44.00
9 Total tax expenses 231.60 390.40
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations (16.60) 434.80
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period (16.60) 434.80
17 Other comprehensive income net of taxes 2.60 1.10
18 Total Comprehensive Income for the period (14.00) 435.90
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 170.30 620.10
Total profit or loss, attributable to non-controlling interests (184.30) (184.30)
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 0.00 0.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0.00 0.00
21 Details of equity share capital
Paid-up equity share capital 1,112.80 1,112.80
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -0.15 3.91
Diluted earnings (loss) per share from continuing operations -0.15 3.91
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -0.15 3.91
Diluted earnings (loss) per share from continuing and discontinued operations -0.15 3.91
24 Debt equity ratio 0.13 0.13
25 Debt service coverage ratio 9.15 9.15
26 Interest service coverage ratio 9.24 9.24
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1).The above unaudited consolidated financial results (the Statement) of Delphi World Money Limited (the Holding Company) and its subsidiaries (together referred to as the Group), for the quarter and half year ended September 30, 2025 has been reviewed by the Audit Committee and thereafter approved by the Board of Directors in the meeting held on November 14, 2025. The statutory auditors, M/s T R Chadha & Co LLP, have carried out a Limited Review of the aforesaid unaudited financial results. 2).These Consolidated financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015, as amended (Ind AS), as prescribed under Section 133 of the Companies Act 2013 (the 'Act') read with the Companies (Indian Accounting Standards) Rules, 2015 (as amended) and the other recognised accounting practices and policies to the extent applicable and is in compliance with presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (as amended) (Listing Regulations). 3).The Enforcement Directorate (ED) has levied a monetary penalty of Rs.329.07 million on the Company and Rs.35.20 million on its Principal Officer for alleged non-compliance with certain provisions of the Foreign Exchange Management Act, 1999 (“FEMA”). Aggrieved by the adjudication orders, the Company has filed appeals before the Hon’ble Appellate Tribunal under SAFEMA, contesting the said penalties. Pursuant to the directions of the Hon’ble Appellate Tribunal, the Company has deposited 15% of the penalty amount as a precondition for hearing. The appeals are currently pending, and the matters have been listed for further proceedings. These proceedings relate to the period prior to the acquisition of the Company by EbixCash World Money Limited (the Holding Company) under the Share Purchase Agreement dated December 31, 2018. The Company believes it has substantial grounds to challenge the adjudication orders. Further, under the terms of the Share Purchase Agreement, any potential liability arising from these matters is covered by indemnities provided by the erstwhile Promoters. In view of the pending adjudication and the indemnity protection available, no provision has been made in these financial statements in respect of the said penalties. 4).Investment in Ebix Travels Private Limited (ETPL) During the quarter ended September 30, 2025, the Group completed a series of restructuring transactions relating to the consolidation of its travel and hospitality business carried out through Ebix Travels Private Limited (ETPL). As part of this process, the inter-company balances among Delphi World Money Limited (“the Holding Company”), Ebix Money Express Private Limited (“EMEPL”), and ETPL were realigned to simplify intra-group exposures. Pursuant to a tripartite agreement, the ICD receivable of Rs.336.25 million from EMEPL was settled through adjustment with the loan balances payable by ETPL to EMEPL. Consequently, the Group’s total ICD exposure to ETPL aggregated to Rs.1,711.89 million as at August 13, 2025, including interest accruals of Rs.1,375.63 million. The Board of Directors of ETPL, at its meeting held on August 20, 2025, approved the issuance of 17,11,890 Compulsorily Convertible Debentures (CCDs) of face value Rs.1,000 each, carrying interest at 9% p.a., to the Holding Company by way of conversion of the outstanding ICDs. Shareholders of ETPL approved the issuance on August 21, 2025, and the CCDs were allotted on August 23, 2025. Subsequently, the Board of ETPL, in its meeting held on August 25, 2025, approved the conversion of the CCDs into equity shares at a price of Rs.56 per share, based on an independent valuation report. As a result, the Holding Company was allotted 3,05,69,464 equity shares, amounting to Rs.1,711.89 million, representing 34.08% of the total equity share capital of ETPL. The balance 65.92% (5,91,36,322 shares) is held by Ebix Technologies Limited. 5).Acquisition of Control over Ebix Travels Private Limited (ETPL) Following the allotment of equity shares (refer Note 5), Delphi World Money Limited, together with Ebix Technologies Limited and ETPL, entered into a Shareholders’ Agreement (“SHA”) dated August 28, 2025, which became effective from September 01, 2025. Under the terms of the SHA, Ebix Technologies Limited irrevocably vested day-to-day management and operating control of ETPL with the Holding Company, including rights relating to key managerial appointments, approval of budgets and business plans, and the ability to direct operating and financial policies. Based on the rights obtained under the SHA, the Holding Company has the power to direct the relevant activities of ETPL and therefore exercises control. Consequently, ETPL is regarded as a subsidiary of the Holding Company with effect from September 01, 2025, in accordance with the definition of control under Ind AS 110 – Consolidated Financial Statements. The acquisition of control has been accounted for as a business combination in accordance with Ind AS 103– Business Combinations, applying the acquisition method of accounting currently being preliminary in nature. The identifiable assets and liabilities of ETPL as at the acquisition date have been recognised at their provisional fair values, pending completion of the purchase price allocation. 6).Right Issue During the quarter, the Board of Directors of the Holding Company approved a Rights Issue of 52,23,295 fully paid-up equity shares of face value Rs.10 each, at an issue price of Rs.191 per equity share (including a premium of Rs.181 per share), aggregating to Rs. 9,976.49 lakhs. The Rights Issue was offered to the eligible equity shareholders in the ratio of 23 Rights Equity Shares for every 49 fully paid-up equity shares held as on the record date of October 14, 2025, in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. Pursuant to the closure of the Issue on November 07, 2025, the Company has allotted 52,23,295 fully paid-up equity shares to eligible applicants, for cash at Rs.191 per share. The Rights Equity Shares are fully paid-up on application and rank pari passu in all respects with the existing equity shares of the Company. 7).Subsequent Event – Preferential Allotment by ETPL Subsequent to the quarter ended September 30, 2025, the Board of Directors of Ebix Travels Private Limited (“ETPL”), at its meeting held on October 28, 2025, approved the issuance of 1,44,64,285 equity shares by way of preferential allotment on a private placement basis to Delphi World Money Limited (“the Company”). The preferential allotment was approved by the shareholders of ETPL at the Extraordinary General Meeting held on November 5, 2025 and accordingly allotment was made on November 14, 2025. Pursuant to this allotment, the Company’s equity shareholding in ETPL increased from 34.08% to 43.23%. As the transaction occurred after the reporting period, it has been disclosed as a non-adjusting subsequent event in accordance with Ind AS 10 – Events After the Reporting Period. 8).Subsequent Event- Share Split and Bonus Issue Subsequent to the quarter ended September 30, 2025, the Board of Directors of holding company, at its meeting held on November 14, 2025, approved the following corporate actions, subject to approval of shareholders and applicable regulatory authorities: a. Sub-division of Equity Shares: The face value of each equity share will be sub-divided from Rs.10 each to Rs.2 each (i.e., 1 equity share of Rs.10 into 5 equity shares of Rs.2 each). b. Bonus Issue: The Board approved a bonus issue in the ratio of 2:1, i.e., 2 fully paid-up equity shares of Rs.2 each for every 1 fully paid-up equity share of Rs.2 each, through capitalisation of free reserves / securities premium. The record date for the above corporate actions will be announced in due course. These approvals represent non-adjusting subsequent events in accordance with Ind AS 10 – Events After the Reporting Period. 9).Pursuant to the provisions of the Listing Regulations, the Holding Company will publish unaudited financial results in the newspapers. The unaudited financial results of the Holding Company will be made available on the Holding Company's website www.indiaforexonline.com and also on the website of BSE Limited (www.bseindia.com) and National Stock Exchange (www.nseindia.com). 10).The consolidated financial results for the quarter ended September 30, 2025 include the financial performance of Ebix Travels Private Limited (ETPL), for the month of September 2025, since it became a subsidary of the holding company w.e.f. September 01, 2025. Accordingly, the results of the current quarter are not comparable with the corresponding previous periods, which did not include ETPL. The previous period's figures have been regrouped/reclassified wherever to correspond with the current period classification/disclosures.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 1,908.50
Capital work-in-progress 0.00
Investment property 0.00
Goodwill 3,343.80
Other intangible assets 7.70
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 0.30
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets 391.40
Total non-current financial assets 391.70
Deferred tax assets (net) 843.30
Other non-current assets 2,268.40
Total non-current assets 8,763.40
2 Current assets
Inventories 490.20
Current financial asset
Current investments 0.00
Trade receivables, current 8,212.90
Cash and cash equivalents 5,484.50
Bank balance other than cash and cash equivalents 3,252.40
Loans, current 13,703.40
Other current financial assets 9,758.10
Total current financial assets 40,411.30
Current tax assets (net) 2,767.30
Other current assets 6,947.30
Total current assets 50,616.10
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 59,379.50
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,112.80
Other equity 21,863.30
Total equity attributable to owners of parent 22,976.10
Non controlling interest (22,245.50)
Total equity 730.60
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 2,795.20
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities 827.90
Total non-current financial liabilities 3,623.10
Provisions, non-current 1,132.20
Deferred tax liabilities (net) 0.00
Deferred government grants, Non-current 0.00
Other non-current liabilities 2,408.90
Total non-current liabilities 7,164.20
Current liabilities
Current financial liabilities
Borrowings, current 14,529.40
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 12,365.30
Total Trade payable 12,365.30
Other current financial liabilities 15,898.20
Total current financial liabilities 42,792.90
Other current liabilities 7,947.80
Provisions, current 278.90
Current tax liabilities (Net) 465.10
Deferred government grants, Current 0.00
Total current liabilities 51,484.70
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 58,648.90
Total equity and liabilites 59,379.50
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Foreign Exchange, Money Transfer and Paymentnservices 1,193.50 2,387.80
2 Travel Services 3,772.60 3,772.60
Total Segment Revenue 4,966.10 6,160.40
Less: Inter segment revenue 0.00 0.00
Revenue from operations 4,966.10 6,160.40
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Foreign Exchange, Money Transfer and Paymentnservices 284.70 603.10
2 Travel Services 105.80 105.80
Total Profit before tax 390.50 708.90
i. Finance cost 56.70 113.90
ii. Other Unallocable Expenditure net off Unallocable income 118.80 (230.20)
Profit before tax 215.00 825.20
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Foreign Exchange, Money Transfer and Paymentnservices 0.00 0.00
2 Travel Services 0.00 0.00
Total Segment Asset 0.00 0.00
Un-allocable Assets 0.00 0.00
Net Segment Asset 0.00 0.00
4 Segment Liabilities
Segment Liabilities
1 Foreign Exchange, Money Transfer and Paymentnservices 0.00 0.00
2 Travel Services 0.00 0.00
Total Segment Liabilities 0.00 0.00
Un-allocable Liabilities 0.00 0.00
Net Segment Liabilities 0.00 0.00
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 A. Items that will not be reclassified to profit or loss 7770000 7570000
Total Amount of items that will not be reclassified to profit and loss 77.70 75.70
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 (0.50)
3 Amount of items that will be reclassified to profit and loss
1 Remeasurment of Exchange Differnce -7510000 -7510000
Total Amount of items that will be reclassified to profit and loss (75.10) (75.10)
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 2.60 1.10



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 825.20
Adjustments for reconcile profit (loss)
Adjustments for finance costs 293.10
Adjustments for decrease (increase) in inventories (171.10)
Adjustments for decrease (increase) in trade receivables, current 1,098.10
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (115.60)
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 4,747.40
Adjustments for other financial assets, current (63.30)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (961.90)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities (1,272.30)
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 103.10
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss (228.00)
Adjustments for provisions, current 59.10
Adjustments for provisions, non-current (11.70)
Adjustments for other financial liabilities, current (109.90)
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 143.30
Adjustments for dividend income 0.00
Adjustments for interest income 785.20
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 0.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 2,725.10
Net cash flows from (used in) operations 3,550.30
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 51.40
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 3,498.90
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 0.00
Purchase of property, plant and equipment 4.40
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties (151.00)
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 143.40
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) investing activities 290.00
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 0.00
Repayments of borrowings 1,754.40
Payments of lease liabilities 81.80
Dividends paid 0.00
Interest paid 305.10
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (2,141.30)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 1,647.60
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents 1,647.60
Cash and cash equivalents cash flow statement at beginning of period 3,836.60
Cash and cash equivalents cash flow statement at end of period 5,484.20