Announcement • May 21
Trustwave Securities Limited to Report Q4, 2026 Results on May 28, 2026 Trustwave Securities Limited announced that they will report Q4, 2026 results at 12:15 PM, Indian Standard Time on May 28, 2026 Announcement • Feb 17
Trustwave Securities Limited Announces Appointment of Chandni Lohar as Company Secretary and Compliance Officer, Effective February 16, 2026 Trustwave Securities Limited announced the appointment of Ms. Chandni Lohar as Company Secretary and Compliance Officer, effective February 16, 2026. The appointment was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ms. Chandni Lohar has a strong expertise in corporate governance and regulatory compliance. Experienced in managing board meetings, maintaining statutory records, and ensuring adherence to legal requirements. Skilled in advising directors and upholding high standards of corporate administration and confidentiality. Ms. Chandni Lohar is designated as Key Managerial Personnel of the company. The board meeting to approve the appointment was held on February 16, 2026. Announcement • Jan 30
Trustwave Securities Limited to Report Q3, 2026 Results on Feb 06, 2026 Trustwave Securities Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Feb 06, 2026 New Risk • Nov 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹8.5m free cash flow). Negative equity (-₹10m). Earnings have declined by 21% per year over the past 5 years. Revenue is less than US$1m (₹5.0k revenue, or US$56.0). Market cap is less than US$10m (₹148.2m market cap, or US$1.67m). Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change). Announcement • Nov 04
Trustwave Securities Limited to Report Q2, 2026 Results on Nov 08, 2025 Trustwave Securities Limited announced that they will report Q2, 2026 results at 12:15 PM, Indian Standard Time on Nov 08, 2025 New Risk • Sep 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹8.5m free cash flow). Negative equity (-₹9.4m). Earnings have declined by 7.7% per year over the past 5 years. Revenue is less than US$1m (₹5.0k revenue, or US$57.0). Market cap is less than US$10m (₹173.1m market cap, or US$1.96m). Minor Risk Share price has been volatile over the past 3 months (6.7% average weekly change). Announcement • Aug 25
Trustwave Securities Limited, Annual General Meeting, Sep 18, 2025 Trustwave Securities Limited, Annual General Meeting, Sep 18, 2025, at 13:00 Indian Standard Time. Announcement • Aug 06
Trustwave Securities Limited to Report Q1, 2026 Results on Aug 08, 2025 Trustwave Securities Limited announced that they will report Q1, 2026 results on Aug 08, 2025 New Risk • May 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₹1.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹1.8m free cash flow). Negative equity (-₹9.4m). Revenue is less than US$1m. Market cap is less than US$10m (₹163.9m market cap, or US$1.92m). Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). Announcement • May 22
Trustwave Securities Limited to Report Q4, 2025 Results on May 29, 2025 Trustwave Securities Limited announced that they will report Q4, 2025 results on May 29, 2025 New Risk • Mar 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.5% average weekly change). Negative equity (-₹8.3m). Revenue is less than US$1m. Market cap is less than US$10m (₹167.9m market cap, or US$1.95m). Board Change • Feb 13
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). MD & Executive Director Naliny Kharwad is the most experienced director on the board, commencing their role in 2024. Non-Executive Independent Director Nilesh Yadav was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Feb 04
Trustwave Securities Limited to Report Q3, 2025 Results on Feb 10, 2025 Trustwave Securities Limited announced that they will report Q3, 2025 results on Feb 10, 2025 New Risk • Jan 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-₹8.3m). Revenue is less than US$1m. Market cap is less than US$10m (₹201.9m market cap, or US$2.35m). Minor Risk Share price has been volatile over the past 3 months (7.5% average weekly change). Announcement • Nov 16
Trustwave Securities Limited Announces Resignation of Prasad Kemnaik as Independent Director Trustwave Securities Limited announced that Mr. Prasad Kemnaik, has tendered his resignation as an Independent Director of the Company with effect from November 16, 2024 due to other professional commitments. Consequent to his resignation, he also ceases to be the member in various Committees, where he is a member. Mr. Prasad is an Independent Director in Jyotirgamya Enterprises Limited and a member of Audit Committee, Nomination and Remuneration Committee and Stakeholder's Relationship Committee. New Risk • Nov 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-₹8.3m). Revenue is less than US$1m. Market cap is less than US$10m (₹154.1m market cap, or US$1.83m). Minor Risk Share price has been volatile over the past 3 months (7.8% average weekly change). Announcement • Oct 05
Trustwave Securities Limited to Report Q2, 2025 Results on Oct 24, 2024 Trustwave Securities Limited announced that they will report Q2, 2025 results at 12:15 PM, Indian Standard Time on Oct 24, 2024 Announcement • Aug 29
Trustwave Securities Limited, Annual General Meeting, Sep 30, 2024 Trustwave Securities Limited, Annual General Meeting, Sep 30, 2024, at 13:00 Indian Standard Time. Announcement • Aug 07
Sterling Guaranty & Finance Limited to Report Q1, 2025 Results on Aug 13, 2024 Sterling Guaranty & Finance Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Announcement • May 09
Sterling Guaranty & Finance Limited to Report Q4, 2024 Results on May 17, 2024 Sterling Guaranty & Finance Limited announced that they will report Q4, 2024 results on May 17, 2024 Announcement • Jan 21
Sterling Guaranty & Finance Limited to Report Q3, 2024 Results on Feb 06, 2024 Sterling Guaranty & Finance Limited announced that they will report Q3, 2024 results on Feb 06, 2024 Board Change • Nov 13
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non Executive Director Bharat Bhusan was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 04
Sterling Guaranty & Finance Limited to Report Q2, 2024 Results on Nov 09, 2023 Sterling Guaranty & Finance Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Board Change • Oct 09
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non Executive Director Bharat Bhusan was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 18
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non Executive Director Bharat Bhusan was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 09
Full year 2023 earnings released: EPS: ₹0.05 (vs ₹0.063 loss in FY 2022) Full year 2023 results: EPS: ₹0.05 (up from ₹0.063 loss in FY 2022). Revenue: ₹1.56m (up 64% from FY 2022). Net income: ₹349.2k (up ₹762.6k from FY 2022). Profit margin: 22% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 60% per year, which means it is significantly lagging earnings growth. Announcement • Sep 08
Sterling Guaranty & Finance Limited, Annual General Meeting, Sep 29, 2023 Sterling Guaranty & Finance Limited, Annual General Meeting, Sep 29, 2023, at 11:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Standalone Financial Statements consisting of the Balance Sheet as at March 31 2023; to appoint Mr. Bharat Bhusan, director who retire by rotation in compliance of the provisions of section 152 of the Companies Act, 2013; and to approve related party transactions between the Company with Sterling Investments India Ltd., and Indistock Securities Ltd. New Risk • Aug 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Negative equity (-₹10.0m). Revenue is less than US$1m (₹2.0m revenue, or US$24k). Market cap is less than US$10m (₹147.9m market cap, or US$1.78m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Announcement • Aug 05
Sterling Guaranty & Finance Limited to Report Q1, 2024 Results on Aug 14, 2023 Sterling Guaranty & Finance Limited announced that they will report Q1, 2024 results on Aug 14, 2023 Announcement • May 23
Sterling Guaranty & Finance Limited to Report Q4, 2023 Results on May 30, 2023 Sterling Guaranty & Finance Limited announced that they will report Q4, 2023 results on May 30, 2023 Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹7.69, the stock trades at a trailing P/E ratio of 72.6x. Average trailing P/E is 20x in the Capital Markets industry in India. Total returns to shareholders of 9.9% over the past year. Reported Earnings • Feb 15
Third quarter 2023 earnings released: EPS: ₹0.02 (vs ₹0.03 loss in 3Q 2022) Third quarter 2023 results: EPS: ₹0.02 (up from ₹0.03 loss in 3Q 2022). Revenue: ₹504.0k (up 236% from 3Q 2022). Net income: ₹155.0k (up ₹329.0k from 3Q 2022). Profit margin: 31% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Announcement • Feb 04
Sterling Guaranty & Finance Limited to Report Q3, 2023 Results on Feb 13, 2023 Sterling Guaranty & Finance Limited announced that they will report Q3, 2023 results on Feb 13, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non Executive Director Bharat Bhusan was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 07
Sterling Guaranty & Finance Limited, Annual General Meeting, Sep 30, 2022 Sterling Guaranty & Finance Limited, Annual General Meeting, Sep 30, 2022, at 10:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Standalone Financial Statements consisting of the Balance Sheet as at March 31, 2022, the Statement of Profit and Loss and Cash Flow Statement for the year ended on that date and the Explanatory Notes annexed to, and forming part of, any of the above documents together with the reports of the Board of Directors and the Auditors thereon; to appoint Mr. Rajankumar Shah (DIN:08619751), Director, who retire by rotation in compliance of the provisions of Section 152 of the Companies Act, 2013 (hereinafter called"the Act") and being eligible, offers himself for re-appointment; to continue the appoint M/S Vinod S Mehta & Co Chartered Accountants as Statutory Auditors to hold office for the period of 5 years of First term and to authorize the Board to fix their remuneration; to approve related party transactions between the Company with Sterling Investments (India) Ltd., and Indistock Securities Ltd; and to transact other business. Announcement • Jul 08
Sterling Guaranty & Finance Limited Appoints Priti Kumar as Company Secretary Sterling Guaranty & Finance Limited at its board meeting held on July 7, 2022 appointed of Ms. Priti Kumar an associate member of institute of company secretary of India as Company Secretary and compliance officer with immediate effect. Reported Earnings • Jun 03
Full year 2022 earnings released: ₹0.07 loss per share (vs ₹0.13 loss in FY 2021) Full year 2022 results: ₹0.07 loss per share (up from ₹0.13 loss in FY 2021). Revenue: ₹951.0k (up 73% from FY 2021). Net loss: ₹413.0k (loss narrowed 53% from FY 2021). Announcement • May 21
Sterling Guaranty & Finance Limited to Report Q4, 2022 Final Results on May 30, 2022 Sterling Guaranty & Finance Limited announced that they will report Q4, 2022 final results on May 30, 2022 Announcement • May 18
Sterling Guaranty & Finance Limited Announces the Resignation of Sejal Choudhary as Independent Director Sterling Guaranty & Finance Limited announced that Sejal Choudhary, hereby tender resignation from the office of the Independent Director of the company with immediate effect. He is resigning from the office of Independent Director as after marriage he will be staying mostly at Chandigarh and Toronto and will not be able to attend the BOD of the company. Board Change • Apr 27
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. CEO & Whole Time Director Rajan Shah is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 13
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: ₹0.03 loss per share (down from ₹0.02 loss in 3Q 2021). Revenue: ₹150.0k (flat on 3Q 2021). Net loss: ₹174.0k (loss widened 44% from 3Q 2021). Revenue was in line with analyst estimates. Executive Departure • Sep 16
Independent Non Executive Director Savita Kumawat has left the company On the 13th of September, Savita Kumawat's tenure as Independent Non Executive Director ended after 2.8 years in the role. We don't have any record of a personal shareholding under Savita's name. Savita is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.83 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Jul 09
Full year 2021 earnings released: ₹0.13 loss per share (vs ₹0.28 loss in FY 2020) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: ₹550.0k (up 25% from FY 2020). Net loss: ₹873.1k (loss narrowed 52% from FY 2020). Announcement • Feb 06
Sterling Guaranty & Finance Limited to Report Q3, 2021 Results on Feb 12, 2021 Sterling Guaranty & Finance Limited announced that they will report Q3, 2021 results on Feb 12, 2021 Is New 90 Day High Low • Feb 02
New 90-day high: ₹8.63 The company is up 72% from its price of ₹5.03 on 04 November 2020. The Indian market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 21% over the same period. Is New 90 Day High Low • Jan 15
New 90-day high: ₹7.83 The company is up 53% from its price of ₹5.13 on 15 October 2020. The Indian market is up 26% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 26% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: ₹6.52 The company is up 27% from its price of ₹5.13 on 30 September 2020. The Indian market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 17% over the same period. Is New 90 Day High Low • Dec 12
New 90-day high: ₹6.24 The company is up 19% from its price of ₹5.25 on 07 September 2020. The Indian market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 14% over the same period. Is New 90 Day High Low • Nov 18
New 90-day high: ₹5.67 The company is up 13% from its price of ₹5.00 on 20 August 2020. The Indian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 3.0% over the same period. Announcement • Nov 07
Sterling Guaranty & Finance Limited to Report Q2, 2021 Results on Nov 12, 2020 Sterling Guaranty & Finance Limited announced that they will report Q2, 2021 results on Nov 12, 2020 Announcement • Sep 09
Sterling Guaranty & Finance Limited to Report Q1, 2021 Results on Sep 05, 2020 Sterling Guaranty & Finance Limited announced that they will report Q1, 2021 results on Sep 05, 2020 Announcement • Jul 24
Sterling Guaranty & Finance Limited to Report Q4, 2020 Results on Jul 30, 2020 Sterling Guaranty & Finance Limited announced that they will report Q4, 2020 results on Jul 30, 2020 
