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Fedders Holding Ltd

FEDDERSHOL

NSE

₹59.81-1.01%19 Oct 2026

Reports

Finance and Investments Others

Fedders Holding Ltd

FEDDERSHOL

NSE

₹59.81

-1.01%

19 Oct 2026

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Finance and Investments Others

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Deep Dive Report: In-depth business analysis.

Fedders Holding is fundamentally a corporate-advisory firm that became an industrial conglomerate in a single stroke - it was a fee-based financial boutique until 2021, when it stepped in as the successful resolution applicant for a distressed engineering company and acquired a 100% stake, transforming overnight into a holding company with heavy manufacturing and mining operations. The recurring approach is a one-stop-shop logic: it advises clients on fund-raising, real-estate transactions and distressed-debt resolution, and where the opportunity warrants, it makes finance available itself, then cross-sells multiple services to the same customer.

Business segments

Two engines at different stages - a financial-advisory and lending practice that is the group’s original core, and an industrial manufacturing subsidiary acquired out of insolvency that is now being rebuilt around steel, mining and power-infrastructure EPC.

1. Financial advisory and lending: the fee-and-interest engine that started it all

The company earns by advising corporates and retail clients on fund-raising, real-estate deals and distressed-debt resolution, and by lending to them when the case fits - a model designed to sell several services to one customer.

Fee income from advisory mandates - it provides capital-management, RERA (real-estate regulation) consulting, transaction advisory, sales-and-marketing advisory, home-loan assistance, leasing advisory, and wealth-management services, recognising management-consultancy fees when the work is done.
Interest income from selective lending - in suitable situations the company makes finance available to its clients, earning interest that is booked on an accrual basis, which turns advisory relationships into lending relationships.
Cross-selling is the structural advantage - the balanced mix of fee-based and lending activities means a single client can take fund-raising advice, transaction support and a loan from the same house, deepening the relationship and raising the cost of switching.
A real-estate and distress specialism - the advisory practice is built around the real-estate sector and distressed-debt resolution, niches where transaction complexity is high and a boutique that understands both the regulation and the capital stack can command fees.
Run from a tiny cost base - as of March 2024 the entire company employed just two people, so a large portion of revenue falls to the bottom line before the holding company’s other costs.

2. Fedders Electric and Engineering: the industrial arm acquired through insolvency

A wholly-owned subsidiary bought out of a corporate insolvency process, now being rebuilt as a turnkey infrastructure and steel-manufacturing business that spans iron-ore mining, wind-turbine towers and power-project EPC.

Acquired, not built - the company (then named IM+ Capitals) was the successful resolution applicant in the Corporate Insolvency Resolution Process of Fedders Electric & Engineering, taking 100% ownership after the NCLT Allahabad bench approved the plan in October 2021; the resolution paid financial creditors Rs. 80 crore and operational creditors up to Rs. 1.52 crore on a pro-rata basis.
Customised turnkey infrastructure - the subsidiary designs, engineers and manufactures steel structures, executes EPC (Engineering, Procurement and Construction) contracts for power projects, and supplies wind-turbine towers and industrial environmental-control systems.
Moving upstream into mining and steel - it has entered iron-ore mining and is building a full chain from iron-ore beneficiation through to TMT (thermo-mechanically treated) bar manufacturing, including steel-billet production; iron ore from affiliated mines is already being exported.
A defence-supplier credential - the unit is a leading supplier to the Ordnance Factory, delivering high-quality solutions that meet stringent military specifications, which serves as a reference customer for its precision-manufacturing capability.
Cleaning up the legacy - the subsidiary carried a qualified audit opinion in FY25 because its public shareholding had fallen to zero after the resolution, its shares were suspended, and it had not maintained proper fixed-asset or scrap-inventory records from the takeover; it subsequently obtained NCLT approval to modify the resolution plan and secured voluntary delisting from both BSE and NSE, effective 2 March 2026, to resolve the shareholding conflict.

Group structure and partners

The listed holding company sits above two wholly-owned subsidiaries and a 50% real-estate fund-management joint venture, with the promoter group holding just under two-thirds of the equity.

Fedders Holding Limited is the apex entity, listed on the Bombay Stock Exchange under ISIN INE417D01020, with its registered office in Ghaziabad, Uttar Pradesh.
It has two wholly-owned subsidiaries: IM+ Investments & Capital Pvt Ltd, which provides financial-sector services in India, and Fedders Electric and Engineering Limited, the industrial arm acquired through the CIRP process and now voluntarily delisted.
The group holds a 50% stake in SMC & IM Capital Investment Manager LLP, a joint venture that manages a real-estate fund, with an investment of Rs. 1.5 crore recorded in the books.
The company was originally incorporated as Brescon Advisors & Holdings Limited in 1991, later became IM+ Capitals Limited, and was renamed Fedders Holding Limited effective 19 June 2024.
As of 31 March 2025, the promoter group held 65.91% of the total equity shares, giving it effective control of the listed entity.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

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Mkt Cap

Market Capitalization

₹1,205Cr

Close Price

₹59.81

Industry

Finance and Investments Others

Price To Earnings

13.75

Price To Sales

3.58

Revenue

₹336Cr

Rev Gr TTM

Revenue Growth TTM

-6.75%

PAT Gr TTM

PAT Growth TTM

151.82%

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	124	188	140	142	85	89	109	77	54	80	134	69
Growth YoY Revenue Growth YoY%	504.1	653.6	151.3	91.6	-31.2	-52.7	-21.7	-45.5	-37.1	-10.2	22.7	-11.0
Expenses ExpensesCr	113	149	136	124	88	89	108	70	53	78	150	67
Operating Profit Operating ProfitCr	11	39	3	18	-3	0	2	8	1	2	-16	1
OPM OPM%	8.9	20.6	2.3	12.7	-3.4	0.2	1.6	10.1	1.6	2.7	-11.8	2.1
Other Income Other IncomeCr	25	5	10	5	13	5	7	7	8	37	41	11
Interest Expense Interest ExpenseCr	1	1	2	1	2	1	2	1	1	2	1	1
Depreciation DepreciationCr	1	1	1	1	1	1	1	1	1	1	1	1
PBT PBTCr	35	42	12	20	8	4	8	16	16	37	23	11
Tax TaxCr	0	0	0	0	1	0	1	0	1	0	-1	0
PAT PATCr	34	42	12	20	7	4	7	16	14	37	24	11
Growth YoY PAT Growth YoY%	376.5	2,227.2	-1.5	267.7	-79.8	-90.4	-45.7	-18.3	108.5	810.7	258.6	-34.3
NPM NPM%	27.6	22.3	8.7	14.2	8.1	4.5	6.1	21.3	26.9	46.1	17.7	15.7
EPS EPS₹	4.0	4.7	0.1	1.8	0.4	0.3	0.5	0.8	0.8	1.8	1.2	0.5

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	124	188	140	142	85	89	109	77	54	80	134	69
Growth YoY Revenue Growth YoY%	504.1	653.6	151.3	91.6	-31.2	-52.7	-21.7	-45.5	-37.1	-10.2	22.7	-11.0
Expenses ExpensesCr	113	149	136	124	88	89	108	70	53	78	150	67
Operating Profit Operating ProfitCr	11	39	3	18	-3	0	2	8	1	2	-16	1
OPM OPM%	8.9	20.6	2.3	12.7	-3.4	0.2	1.6	10.1	1.6	2.7	-11.8	2.1
Other Income Other IncomeCr	25	5	10	5	13	5	7	7	8	37	41	11
Interest Expense Interest ExpenseCr	1	1	2	1	2	1	2	1	1	2	1	1
Depreciation DepreciationCr	1	1	1	1	1	1	1	1	1	1	1	1
PBT PBTCr	35	42	12	20	8	4	8	16	16	37	23	11
Tax TaxCr	0	0	0	0	1	0	1	0	1	0	-1	0
PAT PATCr	34	42	12	20	7	4	7	16	14	37	24	11
Growth YoY PAT Growth YoY%	376.5	2,227.2	-1.5	267.7	-79.8	-90.4	-45.7	-18.3	108.5	810.7	258.6	-34.3
NPM NPM%	27.6	22.3	8.7	14.2	8.1	4.5	6.1	21.3	26.9	46.1	17.7	15.7
EPS EPS₹	4.0	4.7	0.1	1.8	0.4	0.3	0.5	0.8	0.8	1.8	1.2	0.5

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	9	10	8	7	6	4	49	115	526	425	345	336
Growth Revenue Growth%	271.9	11.8	-18.4	-16.7	-11.3	-29.8	1,059.0	135.7	355.8	-19.2	-18.9	-6.8
Expenses ExpensesCr	4	6	4	3	4	2	78	112	472	408	350	348
Operating Profit Operating ProfitCr	5	4	4	4	2	3	-29	4	54	17	-5	-11
OPM OPM%	59.0	43.0	53.6	62.0	35.5	62.4	-59.8	3.0	10.2	4.0	-1.5	-3.4
Other Income Other IncomeCr	0	0	0	0	0	1	69	19	47	31	93	96
Interest Expense Interest ExpenseCr	3	4	4	2	1	0	2	0	4	6	5	5
Depreciation DepreciationCr	0	0	0	0	0	0	10	2	2	3	4	4
PBT PBTCr	3	1	1	2	2	3	748	20	95	39	91	86
Tax TaxCr	1	0	1	1	0	1	-1	-1	2	1	0	0
PAT PATCr	2	1	1	2	1	2	750	21	94	38	91	86
Growth PAT Growth%	159.5	-56.4	-16.7	118.0	-31.0	57.1	44,079.0	-97.2	352.2	-59.8	142.1	151.8
NPM NPM%	22.2	8.7	8.8	23.1	18.0	40.2	1,531.7	18.0	17.8	8.9	26.5	25.5
EPS EPS₹	0.6	0.3	0.2	0.5	0.3	0.5	16.4	5.9	1.0	2.5	4.5	4.3

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	9	10	8	7	6	4	49	115	526	425	345	336
Growth Revenue Growth%	271.9	11.8	-18.4	-16.7	-11.3	-29.8	1,059.0	135.7	355.8	-19.2	-18.9	-6.8
Expenses ExpensesCr	4	6	4	3	4	2	78	112	472	408	350	348
Operating Profit Operating ProfitCr	5	4	4	4	2	3	-29	4	54	17	-5	-11
OPM OPM%	59.0	43.0	53.6	62.0	35.5	62.4	-59.8	3.0	10.2	4.0	-1.5	-3.4
Other Income Other IncomeCr	0	0	0	0	0	1	69	19	47	31	93	96
Interest Expense Interest ExpenseCr	3	4	4	2	1	0	2	0	4	6	5	5
Depreciation DepreciationCr	0	0	0	0	0	0	10	2	2	3	4	4
PBT PBTCr	3	1	1	2	2	3	748	20	95	39	91	86
Tax TaxCr	1	0	1	1	0	1	-1	-1	2	1	0	0
PAT PATCr	2	1	1	2	1	2	750	21	94	38	91	86
Growth PAT Growth%	159.5	-56.4	-16.7	118.0	-31.0	57.1	44,079.0	-97.2	352.2	-59.8	142.1	151.8
NPM NPM%	22.2	8.7	8.8	23.1	18.0	40.2	1,531.7	18.0	17.8	8.9	26.5	25.5
EPS EPS₹	0.6	0.3	0.2	0.5	0.3	0.5	16.4	5.9	1.0	2.5	4.5	4.3

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	4	4	4	4	4	4	4	8	12	20	20
Reserves ReservesCr	51	54	54	56	57	59	144	229	401	608	701
Current Liabilities Current LiabilitiesCr	8	47	27	18	16	8	14	47	67	95	91
Non Current Liabilities Non Current LiabilitiesCr	38	0	1	1	1	0	13	12	16	27	23
Total Liabilities Total LiabilitiesCr	100	104	86	78	77	71	174	297	499	751	835
Current Assets Current AssetsCr	22	63	52	54	37	63	96	129	310	578	619
Non Current Assets Non Current AssetsCr	78	42	33	24	40	9	78	168	188	172	217
Total Assets Total AssetsCr	100	104	86	78	77	71	174	297	499	751	835

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	4	4	4	4	4	4	4	8	12	20	20
Reserves ReservesCr	51	54	54	56	57	59	144	229	401	608	701
Current Liabilities Current LiabilitiesCr	8	47	27	18	16	8	14	47	67	95	91
Non Current Liabilities Non Current LiabilitiesCr	38	0	1	1	1	0	13	12	16	27	23
Total Liabilities Total LiabilitiesCr	100	104	86	78	77	71	174	297	499	751	835
Current Assets Current AssetsCr	22	63	52	54	37	63	96	129	310	578	619
Non Current Assets Non Current AssetsCr	78	42	33	24	40	9	78	168	188	172	217
Total Assets Total AssetsCr	100	104	86	78	77	71	174	297	499	751	835

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-29	-2	-3	-4	6	-11	-64	-18	-109	-237	64
Investing Cash Flow Investing Cash FlowCr	7	-5	13	16	-10	44	34	-82	9	44	-32
Financing Cash Flow Financing Cash FlowCr	32	-3	-10	-12	6	-22	9	98	101	193	-32
Net Cash Flow Net Cash FlowCr	10	-11	0	0	2	10	-21	-3	0	0	0
Free Cash Flow Free Cash FlowCr	-43	-17	4	6	12	2	-1	-24	-117	-283	7
CFO To PAT CFO To PAT%	-1,473.8	-286.9	-425.1	-258.3	542.0	-676.0	-8.5	-88.1	-116.7	-627.7	70.3
CFO To EBITDA CFO To EBITDA%	-553.7	-57.7	-70.0	-96.3	274.2	-435.4	217.6	-522.3	-203.5	-1,387.6	-1,276.7

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-29	-2	-3	-4	6	-11	-64	-18	-109	-237	64
Investing Cash Flow Investing Cash FlowCr	7	-5	13	16	-10	44	34	-82	9	44	-32
Financing Cash Flow Financing Cash FlowCr	32	-3	-10	-12	6	-22	9	98	101	193	-32
Net Cash Flow Net Cash FlowCr	10	-11	0	0	2	10	-21	-3	0	0	0
Free Cash Flow Free Cash FlowCr	-43	-17	4	6	12	2	-1	-24	-117	-283	7
CFO To PAT CFO To PAT%	-1,473.8	-286.9	-425.1	-258.3	542.0	-676.0	-8.5	-88.1	-116.7	-627.7	70.3
CFO To EBITDA CFO To EBITDA%	-553.7	-57.7	-70.0	-96.3	274.2	-435.4	217.6	-522.3	-203.5	-1,387.6	-1,276.7

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	8	17	17	7	7	19	28	134	658	977	635	1,205
Price To Earnings Price To Earnings	4.0	19.3	23.6	4.8	6.8	11.4	0.5	14.1	8.8	2.6	0.7	13.8
Price To Sales Price To Sales	0.9	1.7	2.1	1.1	1.2	3.6	0.3	1.0	1.2	2.1	1.6	3.6
Price To Book Price To Book	0.1	0.3	0.3	0.1	0.1	0.3	0.2	1.2	2.0	0.2	0.1	1.7
EV To EBITDA EV To EBITDA	6.3	13.3	8.9	4.7	4.0	4.0	-0.7	46.9	13.3	57.8	-119.4	-103.5
Profitability Ratios Profitability Ratios
GPM GPM%	100.0	100.0	100.0	100.0	100.0	100.0	7.2	11.3	99.6	93.4	75.2	75.2
OPM OPM%	59.0	43.0	53.6	62.0	35.5	62.4	-59.8	3.0	10.2	4.0	-1.5	-3.4
NPM NPM%	22.2	8.7	8.8	23.1	18.0	40.2	1,531.7	18.0	17.8	8.9	26.5	25.5
ROCE ROCE%	5.8	5.7	6.2	5.8	3.5	4.5	492.6	7.5	21.1	6.3	12.3	12.3
ROE ROE%	3.6	1.5	1.2	2.6	1.8	2.7	508.0	8.7	22.7	6.0	12.7	12.7
ROA ROA%	2.0	0.8	0.8	2.0	1.4	2.4	429.6	7.0	18.8	5.0	10.9	10.9
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	8	17	17	7	7	19	28	134	658	977	635	1,205
Price To Earnings Price To Earnings	4.0	19.3	23.6	4.8	6.8	11.4	0.5	14.1	8.8	2.6	0.7	13.8
Price To Sales Price To Sales	0.9	1.7	2.1	1.1	1.2	3.6	0.3	1.0	1.2	2.1	1.6	3.6
Price To Book Price To Book	0.1	0.3	0.3	0.1	0.1	0.3	0.2	1.2	2.0	0.2	0.1	1.7
EV To EBITDA EV To EBITDA	6.3	13.3	8.9	4.7	4.0	4.0	-0.7	46.9	13.3	57.8	-119.4	-103.5
Profitability Ratios Profitability Ratios
GPM GPM%	100.0	100.0	100.0	100.0	100.0	100.0	7.2	11.3	99.6	93.4	75.2	75.2
OPM OPM%	59.0	43.0	53.6	62.0	35.5	62.4	-59.8	3.0	10.2	4.0	-1.5	-3.4
NPM NPM%	22.2	8.7	8.8	23.1	18.0	40.2	1,531.7	18.0	17.8	8.9	26.5	25.5
ROCE ROCE%	5.8	5.7	6.2	5.8	3.5	4.5	492.6	7.5	21.1	6.3	12.3	12.3
ROE ROE%	3.6	1.5	1.2	2.6	1.8	2.7	508.0	8.7	22.7	6.0	12.7	12.7
ROA ROA%	2.0	0.8	0.8	2.0	1.4	2.4	429.6	7.0	18.8	5.0	10.9	10.9
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	BFINVEST	BLIL	PNBGILTS	FEDDERSHOL	ZSARACOM	INDPRUD	SYSTMTXC
Market CapitalizationMkt CapCr	1,598	1,430	1,290	1,205	1,073	1,049	1,039
Close PriceClose₹	424.30	64.41	71.67	59.81	9,790.00	6,260.00	76.13
IndustryIndustry	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others
Price To EarningsPE	4.10	10.95	6.71	13.75	7.65	17.23
Price To SalesPS	20.44	0.51	0.74	3.58	6.50	164.17	6.15
RevenueRevenueCr	78	2,795	1,740	336	165	6	169
Revenue Growth TTMRev Gr TTM%	22.6%	8.8%	-2.7%	-6.8%	326.4%	-28.3%	14.4%
PAT Growth TTMPAT Gr TTM%	398.7%	3.6%	7.1%	151.8%	438.7%	-3.2%	-102.8%

	BFINVEST	BLIL	PNBGILTS	FEDDERSHOL	ZSARACOM	INDPRUD	SYSTMTXC
Market CapitalizationMkt CapCr	1,598	1,430	1,290	1,205	1,073	1,049	1,039
Close PriceClose₹	424.30	64.41	71.67	59.81	9,790.00	6,260.00	76.13
IndustryIndustry	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others
Price To EarningsPE	4.10	10.95	6.71	13.75	7.65	17.23
Price To SalesPS	20.44	0.51	0.74	3.58	6.50	164.17	6.15
RevenueRevenueCr	78	2,795	1,740	336	165	6	169
Revenue Growth TTMRev Gr TTM%	22.6%	8.8%	-2.7%	-6.8%	326.4%	-28.3%	14.4%
PAT Growth TTMPAT Gr TTM%	398.7%	3.6%	7.1%	151.8%	438.7%	-3.2%	-102.8%

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