Turtlemint Fintech Solutions Limited Announces Audited Financial Results for FY26 and Appoints New Internal Auditors
Turtlemint Fintech Solutions Limited has announced its audited financial results for the quarter and financial year ended March 31, 2026. The company also confirmed the appointment of M/s. PKF Sridhar & Santhanam LLP as its internal auditors for the financial year 2026-27.The independent auditor's report issued by S.R. Batliboi & Co. LLP provides an unmodified opinion, stating that the consolidated and standalone financial statements present a true and fair view of the company's financial position in conformity with applicable accounting standards.
Financial Performance Overview
The consolidated results for the year ended March 31, 2026, show a total income of INR 11,093.50 million against total expenses of INR 12,469.79 million. The company reported a net loss for the period. On a standalone basis, the revenue from operations stood at INR 464.45 million for the full year.The following table summarizes the consolidated financial performance:
| Particulars | Quarter Ended March 31, 2026 (Audited) | Year Ended March 31, 2026 (Audited) |
|---|---|---|
| Revenue from Operations | 3,572.13 | 10,982.83 |
| Other Income | 32.28 | 110.67 |
| Total Income (I) | 3,604.41 | 11,093.50 |
| Employee Benefits Expense | 593.32 | 2,423.95 |
| Finance Costs | 4.89 | 20.56 |
| Depreciation and Amortisation | 39.74 | 161.86 |
| Other Expenses | 3,020.70 | 9,837.94 |
| Total Expenses (II) | 3,656.10 | 12,469.79 |
| Profit/(Loss) Before Tax (V) | (51.72) | (1,925.61) |
| Total Tax Expense (VI) | (82.95) | (82.95) |
| Profit/(Loss) for the Period (VII) | 31.23 | (1,842.66) |
Operational and Strategic Developments
The company highlighted several significant corporate actions during the financial year 2025-26:IPO and Listing
Turtlemint Fintech Solutions Limited completed its Initial Public Offering (IPO), consisting of a fresh issue of 43,468,552 equity shares and an offer for sale of 14,601,846 equity shares. The company's shares were listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on June 29, 2026.
Share Capital Adjustments
The company approved a bonus issue of 500 equity shares for every equity share held as of July 12, 2025. Consequently, the Board allotted 52,636,000 bonus equity shares. Additionally, the conversion ratios for various types of Compulsorily Convertible Preference Shares (CCPS) were adjusted to reflect these changes.
Debt Financing
Following the financial year ended March 31, 2026, the company entered into an agreement with Trifecta Venture Debt Fund - III and Trifecta Venture Debt Fund - IV for a total amount of up to INR 1,000 million. This funding is being raised through the issuance of 13.75% Non-convertible Debentures (NCDs). The company successfully drew INR 500 million against Tranche A as of April 6, 2026.
Employee Stock Options
During the year ended March 31, 2026, the company granted 3,633,174 stock options under the Employee Stock Option Scheme 2025. The share-based payment expense recognized for the year amounted to INR 249.63 million.
Appointment of Internal Auditors
The Board appointed M/s. PKF Sridhar & Santhanam LLP (Firm Registration Number: 003990S/S200018) as the internal auditors for the financial year 2026-27. The firm is a multidisciplinary team of over 1,000 professionals with extensive experience in assurance, internal audit, and risk advisory services.Asset and Liability Position
As of March 31, 2026, the consolidated assets stood at INR 4,500.89 million, compared to INR 5,561.66 million in the previous year. The total equity and liabilities were reported at INR 4,500.89 million.| Particulars | As on March 31, 2026 (Audited) | As on March 31, 2025 (Audited) |
|---|---|---|
| ASSETS | ||
| Property, Plant and Equipment | 59.07 | 67.85 |
| Goodwill | 91.00 | 91.00 |
| Right of Use Assets | 161.26 | 237.85 |
| Cash and Cash Equivalents | 682.06 | 913.70 |
| Total Assets | 4,500.89 | 5,561.66 |
| EQUITY & LIABILITIES | ||
| Total Equity | 3,051.54 | 4,104.63 |
| Total Liabilities | 1,449.35 | 1,457.03 |
| Total Equity and Liabilities | 4,500.89 | 5,561.66 |
TURTLEMINT Stock Price Movement
Shares of Turtlemint Fintech Solutions Limited today slipped by 1.28% to settle at ₹136.06 in post-market trading. The stock saw a total volume of 329,710 shares as it retreated from the day's high of ₹139.38.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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