| Scrip code | 511724 |
|---|---|
| NSE Symbol | BAIDFIN |
| MSEI Symbol | NOTLISTED |
| ISIN | INE020D01022 |
| Name of company | BAID FINSERV 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 | 10-02-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 31-01-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Third quarter |
| Nature of report standalone or consolidated | Standalone |
| 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 | Single segment |
| Description of single segment | The Company is primarily engaged in the business of lending and related financial services. All other activities of the Company revolve around its main business. As such, there are no separate reportable operating segments as per IND AS 108- Operating Segments. |
| Start date and time of board meeting | 10-02-2026 13:00:00 |
| End date and time of board meeting | 10-02-2026 14:15:00 |
| Whether cash flow statement is applicable on company | |
| Type of cash flow statement | |
| Declaration of unmodified opinion or statement on impact of audit qualification | Declaration of unmodified opinion |
| Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? | Yes |
| No. of times funds raised during the quarter | 2 |
| Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? | No |
| There is no default on Loans and Debt Securities during the reporting quarter. | |
| 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 | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| 1 | Income | ||
| Revenue from operations | |||
| (i) | Interest Income | 2,002.20 | 5,822.15 |
| (ii) | Dividend Income | 0.00 | 0.10 |
| (iii) | Rental Income | 0.63 | 1.89 |
| (iv) | Fees and commission Income | 59.64 | 159.53 |
| (v) | Net gain on fair value changes | 0.00 | 0.00 |
| (vi) | Net gain on derecognition of financial instruments under amortised cost category | 0.00 | 0.00 |
| (vii) | Sale of products (including Excise Duty) | 400.41 | 1,241.42 |
| (viii) | Sale of services | 0.00 | 0.00 |
| (ix) | Other revenue from operations | ||
| Total other revenue from operations | |||
| Total Revenue From Operations | 2,462.88 | 7,225.09 | |
| Other income | 109.60 | 136.26 | |
| Total income | 2,572.48 | 7,361.35 | |
| 2 | Expenses | ||
| Cost of materials consumed | 0.00 | 0.00 | |
| Purchases of stock-in-trade | 0.00 | 0.00 | |
| Changes in inventories of finished goods, work-in-progress and stock-in-trade | 386.10 | 1,222.71 | |
| Employee benefit expense | 257.69 | 733.67 | |
| Finance costs | 818.30 | 2,415.80 | |
| Depreciation, depletion and amortisation expense | 24.97 | 69.42 | |
| Fees and commission expense | 84.08 | 266.49 | |
| Net loss on fair value changes | 0.00 | 0.00 | |
| Net loss on derecognition of financial instruments under amortised cost category | 0.00 | 0.00 | |
| Impairment on financial instruments | 119.98 | 231.85 | |
| (f) | Other expenses | ||
| 1 | Other Expenses | 235.62 | 630.76 |
| Total other expenses | 235.62 | 630.76 | |
| Total expenses | 1,926.74 | 5,570.70 | |
| 3 | Total profit before exceptional items and tax | 645.74 | 1,790.65 |
| 4 | Exceptional items | 0.00 | 0.00 |
| 5 | Total profit before tax | 645.74 | 1,790.65 |
| 7 | Tax expense | ||
| 8 | Current tax | 170.68 | 458.86 |
| 9 | Deferred tax | 0.00 | 0.00 |
| 10 | Total tax expenses | 170.68 | 458.86 |
| 11 | Net Profit Loss for the period from continuing operations | 475.06 | 1,331.79 |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 17 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 14 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 |
| 15 | Total profit (loss) for period | 475.06 | 1,331.79 |
| 16 | Other comprehensive income net of taxes | 0.00 | 0.00 |
| 17 | Total Comprehensive Income for the period | 475.06 | 1,331.79 |
| 18 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | |||
| Total profit or loss, attributable to non-controlling interests | |||
| 19 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | |||
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | |||
| 20 | Details of equity share capital | ||
| Paid-up equity share capital | 3,001.71 | 3,001.71 | |
| Face value of equity share capital | 2 | 2 | |
| 21 | Reserves excluding revaluation reserve | ||
| 22 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings per share from continuing operations | 0.37 | 1.08 | |
| Diluted earnings per share from continuing operations | 0.37 | 1.08 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings per share from discontinued operations | 0 | 0 | |
| Diluted earnings per share from discontinued operations | 0 | 0 | |
| ii | Earnings per equity share | ||
| Basic earnings per share | 0.37 | 1.08 | |
| Diluted earnings per share | 0.37 | 1.08 | |
| 23 | Debt equity ratio | 1.2400 | 1.2400 |
| 24 | Debt service coverage ratio | 0.3800 | 1.4800 |
| 25 | Interest service coverage ratio | 1.7700 | 1.7700 |
| 26 | Disclosure of notes on financial results | Textual Information(1) | |
| 23 | Debt equity ratio | |
|---|---|---|
| 24 | Debt service coverage ratio | |
| 25 | Interest service coverage ratio |
| Textual Information(1) | Explanatory notes to the Statement of Standalone Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2025. 1. The above Un-audited Financial Results of the Company have been prepared in accordance with Indian Accounting Standards ('Ind AS') notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended by the Companies (Indian Accounting Standards) Rules, 2016, prescribed under Section 133 of the Companies Act 2013 ('the Act') read with relevant rules issued thereunder and the other accounting principles generally accepted in India. Any application guidance / clarifications / directions issued by the Reserve Bank of India, Ministry of Corporate Affairs or other regulators are implemented as and when they are issued / applicable. 2. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on February 10, 2026. 3. The Statutory Auditors of the Company have carried out Limited Review of the above results for the quarter and nine months ended on December 31, 2025 in compliance with Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. 4. The Reserve Bank of India has issued the Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Directions, 2025 circular no. RBI/DOR/2025-26/339 DOR.FIN.REC.No.258/03.10.119/2025-26 dated November 28, 2025. The Framework categorizes NBFCs in Base layer (NBFC-BL), Middle Layer (NBFC-ML), UpperLayer,( NBFC-UL) and Top Layer (NBFC-TL). The Company is classified under Base Layer pursuant to the framework. 5. The EPS has been computed in accordance with the Indian Accounting Standard. 6. Provision for income-tax has been made in accordance with the Ind AS-12. 7. The Company is primarily engaged in the business of lending and related financial services. All other activities of the Company revolve around its main business. As such, there are no separate reportable operating segments as per IND AS 108- Operating Segments. 8. In terms of requirement as per RBI notification no RBI/2019-20/170 DOR(NBFC).CC.PD.NO.109/22.10.106/2019-20 dated March 13, 2020 on implementation of Accounting Standards, Non-Banking Financial Companies (NBFCS') are required to create an impairment reserve for any shortfal impairment allowances under lnd AS 109 and lncome Recognition Asset Classfication and Provisioning ('IRACP') norms including provision on standard assets). The impairment alowances under lnd AS 109 made by Company exceeds the total provision required under IRACP (induding standard assets provisioning), as at 31 December 2025 and accordingly, no amount is required to transfened to impairment reserve. 9. Disclosures pertaining to RBI Direction - RBI/DOR/2025-26/359 DOR.ACC.REC.No.278/21.04.018/2025-26 - Reserve Bank of India (Non-Banking Financial Companies — Financial Statements: Presentation and Disclosures) Directions, 2025 dated November 28, 2025: i. Read with RBI Direction - RBI/DOR/2025-26/352DOR.STR.REC.271/21.04.048 /2025-26 - Reserve Bank of India (Non-Banking Financial Companies - Transfer and Distribution of Credit Risk) Directions, 2025. (a) Details of stressed assets transferred through assignment during the quarter and nine months ended on December 31, 2025 (Rupees in Lakhs). No. of accounts for Quarter ended December 31, 2025: NIL Aggregate principal outstanding of loans transferred: NIL Weighted average residual tenor of the loans transferred: NIL Net book value of loans transferred (at the time of transfer): NIL Aggregate consideration: NIL Additional consideration realized in respect of accounts transferred in earlier years: NIL Quantum of excess provisions reversed to the profit and loss account on account of sale of stressed loans: NIL No. of accounts for Nine months period ended December 31, 2025: 275 Aggregate principal outstanding of loans transferred for Nine months period ended December 31, 2025: Rs. 937.69 Weighted average residual tenor of the loans transferred for Nine months period ended December 31, 2025: 26 Months Net book value of loans transferred (at the time of transfer) for Nine months period ended December 31, 2025: Rs. 825.17 Aggregate consideration for Nine months period ended December 31, 2025: Rs. 750.16 Additional consideration realized in respect of accounts transferred in earlier years for Nine months period ended December 31, 2025: NIL Quantum of excess provisions reversed to the profit and loss account on account of sale of stressed loans for Nine months period ended December 31, 2025: Rs. 112.52 (b) The company has not acquired any stressed assets through assignment during the quarter and nine months ended on December 31, 2025. (c) The Company has not transferred any loans (not in default) through assignment during the quarter and nine months ended on December 31, 2025 (d) The Company has acquired loans (not in default) through assignment during the quarter and nine months ended on December 31, 2025 (Rupees in Lakhs) Count of loans accounts acquired for Quarter ended December 31, 2025: 77 Amount of loan accounts acquired for Quarter ended December 31, 2025: Rs. 226.01 Weighted average maturity (in months) for Quarter ended December 31, 2025: 55 Month Weighted average holding period (in months) for Quarter ended December 31, 2025: 7 Month Retention of beneficial economic interest by the acquirer (%) for Quarter ended December 31, 2025: 90% Coverage of tangible security for Quarter ended December 31, 2025: NA Rating-wise distribution of rated loans for Quarter ended December 31, 2025: Not Rated Count of loans accounts acquired for Nine months period ended December 31, 2025: 152 Amount of loan accounts acquired for Nine months period ended December 31, 2025: Rs. 421.76 Weighted average maturity (in months) for Nine months period ended December 31, 2025: 60 Month Weighted average holding period (in months) for Nine months period ended December 31, 2025: 10 Month Retention of beneficial economic interest by the acquirer (%) for Nine months period ended December 31, 2025: 90% Coverage of tangible security for Nine months period ended December 31, 2025: NA Rating-wise distribution of rated loans for Nine months period ended December 31, 2025: Not Rated ii) Read with RBI Direction - RBUDOR/2025-26/347DOR.CRE.REC.266/07-01-008/2025-26 - Reserve Bank of India (Non-Banking Financial Companies— Credit Facilities) Directions, 2025 dated November 28, 2025. a) The Company has not lent any funds during the quarter ended December 31, 2025 for project finance activities nor has any recoverable balance as at the same date. 10. Pursuant to a Rights Issue, the Company allotted 3,00,17,075 Equity Shares on December 08, 2025. Consequently, the Issued, Subscribed and Paid-up Share Capital of the Company increased to Rs. 30,01,70,750/- comprising 15,00,85,375 Equity Shares of Rs.2/- each, with effect from December 08, 2025. 11. The Company does not have any subsidiary/associate/joint venture company{ies), as on December 31, 2025. 12. Previous year/period figures have been regrouped/rearranged/reclassified, wherever considered necessary, to make them comparable. 13. The above financial results are available on the website of Stock Exchanges i.e. National Stock Exchange of India Limited at www.nseindia.com and BSE Limited at www.bseindia.com and on the website of the company at www.baidfinserv.com. |
|---|
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| Whether results are audited or unaudited | Unaudited | Unaudited | |
| Nature of report standalone or consolidated | Standalone | Standalone | |
| 1 | Segment Revenue (Income) | ||
| (net sale/income from each segment should be disclosed) | |||
| Total Segment Revenue | |||
| Less: Inter segment revenue | |||
| Revenue from operations | |||
| 2 | Segment Result | ||
| Profit (+) / Loss (-) before tax and interest from each segment | |||
| Total Profit before tax | |||
| i. Finance cost | |||
| ii. Other Unallocable Expenditure net off Unallocable income | |||
| Profit before tax | |||
| 3 | (Segment Asset - Segment Liabilities) | ||
| Segment Asset | |||
| Total Segment Asset | |||
| Un-allocable Assets | |||
| Net Segment Asset | |||
| 4 | Segment Liabilities | ||
| Segment Liabilities | |||
| Total Segment Liabilities | |||
| Un-allocable Liabilities | |||
| Net Segment Liabilities | |||
| Disclosure of notes on segments | |||
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| Total Amount of items that will not be reclassified to profit and loss | |||
| 2 | Income tax relating to items that will not be reclassified to profit or loss | 0.00 | 0.00 |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| Total Amount of items that will be reclassified to profit and loss | |||
| 4 | Income tax relating to items that will be reclassified to profit or loss | 0.00 | 0.00 |
| 5 | Total Other comprehensive income | 0.00 | 0.00 |
| Whether results are audited or unaudited | Unaudited |
|---|---|
| Declaration of unmodified opinion or statement on impact of audit qualification | Declaration of unmodified opinion |
| Auditor's opinion | |
| Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results | Yes |
| Sr No. | Audit firm's name | Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI | Certificate valid upto | ||
| 1 | ABSM AND ASSOCIATES | Yes | 31-03-2027 | ||
|---|---|---|---|---|---|
| Mode of Fund Raising | Preferential Issues |
|---|---|
| Description of mode of fund raising (Applicable in case of others is selected) | |
| Date of Raising Funds | 09-04-2025 |
| Amount Raised | 1,813.03 |
| Report filed for Quarter ended | 31-12-2025 |
| Monitoring Agency | Not Applicable |
| Monitoring Agency Name, if applicable | |
| Is there a Deviation / Variation in use of funds raised | No |
| If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders | |
| If Yes, Date of shareholder Approval | |
| Explanation for the Deviation / Variation | |
| Comments of the Audit Committee after review | |
| Comments of the auditors, if any |
| Sr. | Original Object | Modified Object, if any | Original Allocation | Modified allocation, if any | Funds Utilised | Amount of Deviation/Variation for the quarter according to applicable object | Remarks if any |
| 1 | To meet working capital requirements of the Company. Reduction of working capital borrowings, term loan repayment or/and any other outstanding debt. General corporate purposes, subject to such limit and in terms prescribed by applicable laws. | NA | 1,813.03 | 0.00 | 453.26 | 0.00 | Note: The Company has raised funds aggregating to INR 1,813.03 Lakhs through the issuance of 1,20,06,831 share warrants. As per the terms of the issue, 25% of the issue price, amounting to INR 453.26 Lakhs (INR 3.775 per warrant), was received as upfront subscription money on April 09, 2025. The said amount of INR 453.26 Lakhs was fully utilized during the quarter ended June 30, 2025. During the current quarter under review, the Company has not received any additional proceeds from the warrant holders. Accordingly, no utilization of funds has been made during the current quarter. The balance 75% of the issue price, amounting to INR 1,359.77 Lakhs (INR 11.325 per warrant), shall be received as and when the warrant holders exercise their option to convert the warrants into equity shares, within a period of 18 months from the date of allotment, in accordance with the terms of the issue. The amount disclosed under funds utilized pertains to the quarter ended June 30, 2025. During the current quarter under review, no amount was received from the warrant holders and, accordingly, no funds were utilized. |
| Mode of Fund Raising | Rights Issues |
|---|---|
| Description of mode of fund raising (Applicable in case of others is selected) | |
| Date of Raising Funds | 08-12-2025 |
| Amount Raised | 3,001.71 |
| Report filed for Quarter ended | 31-12-2025 |
| Monitoring Agency | Applicable |
| Monitoring Agency Name, if applicable | Care Ratings Limited |
| Is there a Deviation / Variation in use of funds raised | No |
| If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders | |
| If Yes, Date of shareholder Approval | |
| Explanation for the Deviation / Variation | |
| Comments of the Audit Committee after review | |
| Comments of the auditors, if any |
| Sr. | Original Object | Modified Object, if any | Original Allocation | Modified allocation, if any | Funds Utilised | Amount of Deviation/Variation for the quarter according to applicable object | Remarks if any |
| 1 | Augmentation of capital base of our company and resources for meeting funding requirements for our company’s business activities including onward lending | NA | 1,800.00 | 0.00 | 1,796.73 | 0.00 | Note: Out of total proceeds of Rs. 1800.00 lakhs proposed for augmentation of tier I capital base of the company, Rs. 1796.73 lakhs have been utilized during Q3FY26. (99.83% of the total allocated proceeds for the object) |
| 2 | Repayment and/or prepayment, in full or in part, of certain identified borrowings availed by the company from banks and financial institutions | NA | 1,000.00 | 0.00 | 476.08 | 0.00 | Note: Out of Rs. 1000.00 lakhs allocated for debt repayment/prepayment, the company has utilised Rs. 476.08 lakhs (47.60%) during Q3FY26. Remaining amount is yet to be utilised. |
| 3 | General corporate purposes | NA | 159.46 | 0.00 | 0.00 | 0.00 | Note: No utilization towards GCP during the quarter. |
| 4 | Issue related expenses | NA | 42.25 | 0.00 | 33.13 | 0.00 | Note: Issue expenses aggregating to Rs. 33.13 Lakhs have been incurred in Q3FY2026, as certified by statutory auditor and Remaining balance of Rs. 9.12 lakhs is yet to be incurred |
| Name of signatory | Panna Lal Baid |
| Designation of person | Managing Director |
| Place | Jaipur |
| Date | 10-02-2026 |