Key Highlights
- DAM Capital reported FY26 total income of ₹237 crore compared to ₹250 crore in FY25 reflecting a 5.2% YoY decline.
- Q4 FY26 total income stood at ₹29.3 crore down 20.1% YoY and down 58.1% QoQ from ₹70 crore in Q3 FY26.
- FY26 profit after tax stood at ₹73 crore down 30% YoY while Q4 FY26 PAT declined 97.1% YoY and 98.8% QoQ to ₹0.2 crore.
- The company executed 18 ECM transactions and one M&A advisory deal during FY26 raising over ₹19,000 crore.
- DAM Capital maintained a pipeline of 25 IPOs and achieved a 10% market share in IPOs by number during FY26.
DAM Capital Advisors Limited announced its audited financial results for the quarter and year ended March 31, 2026, reporting lower earnings amid weak capital market activity and cautious investor sentiment. The company witnessed pressure on profitability during both the fourth quarter and full financial year despite maintaining strong deal execution and a healthy IPO mandate pipeline.
DAM Capital Q4 FY26 Performance
DAM Capital reported total income of ₹29.3 crore in Q4 FY26, compared with ₹37 crore in Q4 FY25, registering a decline of 20.1% year-on-year. On a sequential basis, total income declined 58.1% from ₹70 crore reported in Q3 FY26.
Revenue from merchant banking stood at ₹7.4 crore during the quarter, down 52.4% YoY from ₹16 crore and down 84.6% QoQ from ₹48 crore.
Revenue from the broking segment stood at ₹17.7 crore in Q4 FY26, increasing 1.3% YoY from ₹17 crore reported in Q4 FY25. Sequentially, broking revenue declined 1.7% from ₹18 crore recorded in Q3 FY26.
Profit after tax for the March quarter stood at ₹0.2 crore compared with ₹9 crore in Q4 FY25, reflecting a sharp decline of 97.1% YoY. Compared with ₹20 crore in Q3 FY26, quarterly profit declined 98.8% QoQ.
PAT margin for Q4 FY26 stood at 0.85%, compared with 23.2% in Q4 FY25 and 28.7% in Q3 FY26.
DAM Capital FY26 Results
For the full financial year FY26, DAM Capital reported total income of ₹237 crore compared with ₹250 crore in FY25, reflecting a decline of 5.2% year-on-year.
Merchant banking revenue for FY26 stood at ₹151 crore compared with ₹155 crore in FY25, down 2.6% YoY.
Broking revenue came in at ₹71 crore for FY26 compared with ₹81 crore during FY25, reflecting a decline of 12.8%.
Profit after tax for FY26 stood at ₹73 crore against ₹104 crore in FY25, representing a decline of nearly 30% year-on-year.
The company reported return on equity of 24.4% and net cash availability of ₹311 crore as of March 31, 2026, compared with ₹242 crore a year earlier.
The board recommended a dividend of 50%, equivalent to ₹1 per equity share having a face value of ₹2, subject to shareholder approval.
Operational Highlights and IPO Pipeline
DAM Capital executed 18 equity capital market transactions and one mergers and acquisitions advisory mandate during FY26, raising more than ₹19,000 crore.
The company achieved a 10% market share in IPOs by number during FY26.
Between November 2019 and March 2026, the company executed 96 equity capital market transactions raising more than ₹1.6 lakh crore across multiple fundraising categories.
The company also maintained a pipeline of 25 IPO mandates, with four new mandates added during Q4 FY26.
DAM Capital currently serves as the left lead banker in 13 IPO mandates, including six sole banker mandates.
Management Commentary
Management stated that capital market activity remained challenging during FY26 due to global tariff concerns, geopolitical tensions and elevated market volatility. The company indicated that fundraising activity and IPO launches remained muted during the final quarter of the financial year.
The company added that it plans to diversify revenue streams through additional fee-based business opportunities while continuing to focus on capital markets and institutional equities operations.