Glance Finance Limited is a Mumbai-based **Non-Banking Financial Company (NBFC)**, registered with the **Reserve Bank of India (RBI Registration No. B13.00031)**. The company operates as a diversified financial services provider, managing a portfolio that spans credit, asset-backed financing, and strategic equity investments within the Indian market. --- ### **Core Financial Verticals & Revenue Streams** The company’s business model is built upon four primary pillars designed to balance immediate cash flow with long-term capital appreciation: * **Lending & Financing:** Traditional fund-based activities, primarily consisting of loans and advances. These are typically structured as **repayable on demand** to maintain liquidity. * **Asset Leasing:** A growth-oriented vertical providing stable, recurring returns through the leasing of physical assets such as **automobiles and vending machines**. * **Investment in Private & Public Markets:** Active management of a portfolio consisting of equity and equity-related instruments. The company utilizes a risk-based evaluation at an **aggregated portfolio level** rather than an instrument-by-instrument basis. * **Revenue-Based Funding:** A specialized financing model where capital is provided in exchange for a percentage of the borrower’s ongoing gross revenues. --- ### **Professional Services & Advisory Portfolio** Beyond its balance sheet activities, Glance Finance provides high-skill professional financial services through three specialized verticals: **1. Indirect Tax & GST Advisory** * **Compliance:** End-to-end support for **GST** and **Customs**, including monthly/annual filings and **Audit Certification**. * **Specialized Schemes:** Registration and return filing under the **MOOWR Scheme** (Manufacturing & Other Operation in Warehouse Regulation) and assistance in setting up **SEZ units** and **Export Oriented Units (EOU)**. * **Litigation:** Representation before **Appellate Tribunals**, the **Settlement Commission**, and filing **Writ Petitions** before High Courts. **2. Audit and Assurance Services** * **Statutory & Tax Audits:** Conducted in accordance with **International Standards of Accounting** and the Indian Companies Act. * **Internal Governance:** Management audits, **Due Diligence Reviews**, and **Concurrent Audits** focused on risk mitigation and control improvements. **3. Virtual CFO Services** * **Strategic Leadership:** Outsourced financial management focusing on **Top & Bottomline** performance, **Working Capital** management, and the implementation of internal governance frameworks. --- ### **Strategic Segment Governance** As of **February 2026**, the company has transitioned into a three-tier segment structure to streamline management and reporting: | Segment | Classification | Status (as of Q3 FY26) | | :--- | :--- | :--- | | **Segment I** | **Lending & Investment Division** | Active / Reportable | | **Segment II** | **Non-Strategic Business Division** | Active / Reportable | | **Segment III** | **Strategic Business Division** | Identified for Governance | *Note: The company officially exited its **E-commerce and Warehousing Services** in **Q1 FY 2023-24** to focus on core financial operations.* --- ### **Inorganic Growth & Capital Allocation** The company is aggressively deploying capital into strategic equity positions to expand its operational footprint. A primary focus has been **Kotson's Private Limited (KPL)**: | Date | Transaction Type | Number of Shares | Price per Share | Total Investment | | :--- | :--- | :--- | :--- | :--- | | **September 2025** | **Private Placement** | **5,80,086** | **₹75.00** (incl. **₹65** premium) | **₹4,35,06,450** | | **October 2025** | **Secondary Market Acquisition** | **62,400** | **₹50.85** | **₹31,73,040** | To oversee this expansion, the company has secured long-term leadership with the re-appointment of **Mrs. Vandana Vasudeo** and the appointment of **Mr. Padam Jain** as **Independent Directors** through **2028**. --- ### **Financial Position & Capital Conservation** Glance Finance follows a conservative fiscal policy, prioritizing internal accruals over dividend payouts to fund future growth. **Capital Structure (as of March 2025):** * **Authorized Share Capital:** **₹3.50 crore** * **Paid-up Equity Capital:** **₹2.27 crore** * **Dematerialization:** **98.25%** of shares are held in electronic form. **Key Financial Performance (₹ in lacs):** | Metric | FY 2024-25 | FY 2023-24 | | :--- | :--- | :--- | | **Transfer to Statutory Reserve (Sec 45-IC)** | **46.31** | **38.82** | | **Transfer to Retained Earnings** | **231.53** | **194.08** | | **Realized Gain on FVTOCI Investments** | **411.00** | **404.00** | | **Closing Retained Earnings Balance** | **2,875.44** | **2,279.21** | The company maintains a clean lending record regarding insiders, with **Nil** balances for loans to companies in which directors are interested for the last two fiscal years. --- ### **Risk Profile & Regulatory Outlook** **1. Regulatory Status & Compliance** * **NBFC License:** Following a period of seeking **temporary suspension** of its license due to non-fulfillment of certain criteria, management is currently working to fulfill these requirements and withdraw the suspension application as of **January 2024**. * **Audit Qualifications:** Auditors have consistently issued a **Qualified Opinion** regarding **Ind AS 19**. The company provides for **Gratuity and Leave Encashment** on an **estimated basis** rather than through mandatory **actuarial valuation**, leaving the exact impact on P&L unascertainable. * **Listing Compliance:** The company previously paid a fine of **₹1,41,600** to the **BSE** for non-compliance with **Minimum Public Shareholding (MPS)** requirements and is seeking final resolution. **2. Market & Operational Risks** * **Asset Volatility:** The company recorded a **Mark to Market (MTM) loss of ₹140.26 lacs** in **FY23**, highlighting exposure to public market fluctuations. * **Liquidity Management:** As of **March 31, 2024**, the company manages **₹680.70 lacs** in total borrowings, with **₹363.45 lacs** maturing within 12 months. * **New Frontier Risks:** Diversification into **Stressed Assets**, **Quick Service Restaurants (QSR)**, and **Music Label Rights** introduces specialized competition and operational complexities. * **Macro Factors:** High inflation and the implementation of **four new Labour Codes** (effective **November 2025**) are being monitored for their potential impact on borrowing costs and employee benefit liabilities.