Please find attached Unaudited Financial Results for QE June 30, 2026

August 11, 2026 The Deputy Manager Department of Corporate Services BSE Limited P. J. Towers, Dalal Street, Fort Mumbai – 400 001 Ref: Scrip Code 530557 Sub: Submission of Unaudited Financial Results for Q1FY27 Respected Sir or Madam, With reference to the above and in compliance with Regulation 33(3) of SEBI LODR Regulations, 2015, we are enclosing with this letter, Provisional Financial Results (Un-audited) for the 1st quarter ended on 30th June 2026 (Q-I) for the Financial Year ending 31st March 2027 together with Limited Review Report by Statutory Auditors. The meeting was commenced at 12.05 Hrs. and concluded at 12.50 Hrs. This is for the information of members. Thanking You, Yours truly, For NCL RESEARCH & FINANCIAL SERVICES LIMITED GOUTAM BOSE DIN: 02504803 MANAGING DIRECTOR Enclosed: a/a NCL RESEARCH & FINANCIAL SERVICES LIMITED Registered Office : 208, 2nd Floor, Plot No.212, West Wing, Tulsiani Chambers, Free Press Journal Marg, Nariman Point, Mumbai-400021 CIN - L65921MH1985PLC284739, Email : ncl.research@gmail.com, Website : www.nclfin.com Statement of Un-Audited Standalone Financial Results for the Quarter ended 30th June 2026 ₹ in Lakhs Preceding 3 Corresponding 3 Year to date Sr. 3 Months ended Months ended Months ended figures as on Particulars No. 30.06.2026 31.03.2026 30.06.2025 31.03.2026 Un-Audited Un-Audited Un-Audited Audited I Revenue from Operations Interest Income 1 66.06 2 8.04 181.21 6 13.17 Dividend Income 0 .56 0 .36 0.42 3 .28 Revenue from Sale of Shares - - - - Net Gain on Fair Value of Changes - - - - Other Income - - - - Total Revenue from Operations 166.62 28.40 181.63 616.45 II Other Income Others [(Profit/(Loss) in F&O Trading] 5 2.65 ( 54.63) 77.92 ( 3.08) Others [Gain/(loss) from Investments] 2 .80 - - 1 .19 Others - - - - III Total Income (I+II) 222.07 (26.23) 259.54 614.56 IV Expenses Finance Costs - - 0.08 0 .08 Fees & Commission Expenses - 69.42 - 7 9.42 Net loss on Fair Value Changes - - - - Impairment on Financial Instruments - - - - Cost of Material Consumed - - - - Purchases of Stock-in-trade - - - - Changes in Inventories of finished goods, stock-in-trade and work-in-progress ( 3.84) - (0.45) - Employee Benefits Expenses 1 6.95 32.21 14.69 8 3.10 Depreciation, Amortization and Impairment 0 .60 0.96 0.84 3 .60 Loss on Sale of Investments (Long Term Capital Loss) - - - - Expected Credit Loss 3 7.29 398.74 - 3 98.74 Bad Debts written Off - 134.59 - 2 35.71 Other Expenses 2 2.44 24.36 17.29 9 5.29 Total Expenses (IV) 73.44 660.28 32.46 895.94 V Profit / (Loss) before Tax & Exceptional Items (III-IV) 148.63 (686.51) 227.09 (281.38) VI Exceptional Items - - - - VII Profit / (Loss) before Tax (V-VI) 148.63 (686.51) 227.09 (281.38) VIII Tax Expenses Current 4 5.13 ( 74.89) 57.09 2 9.55 Deferred Tax ( 9.41) ( 103.75) (0.05) ( 103.84) Taxes of Earlier years - 5 1.45 - 5 2.83 Total Tax Expenses (VIII) 35.72 (127.19) 57.04 (21.46) IX Profit for the Period / Year from continuing operations (VII-VIII) 112.91 (559.32) 170.05 (259.92) X Profit/(Loss) from Discontinued Operations - - - - XI Tax Expenses Discontinued Operations - - - - XII Profit for the Period / Year from continuing operations (X-XI) - - - - XIII Profit for the Period (IX-XII) 112.91 (559.32) 170.05 (259.92) XIV Other Comprehensive Income Fair value changes on instruments carried at FVTOCI A. Items that will not be classified to Profit or Loss i) Fair value changes on instruments carried at FVTOCI 3 1.44 ( 51.34) 42.18 ( 11.98) ii) Income Tax on above ( 7.91) 1 2.92 (10.62) 3 .01 Sub-Total A 23.53 (38.42) 31.56 (8.97) B. i) Items that will be classified to Profit or Loss - - - - ii) Income Tax relating to Items that will be reclassified to Profit or Loss - - - - Sub-Total B - - - - Other Comprehensive Income (A+B) 23.53 (38.42) 31.56 (8.97) XV Total Comprehensive Income for the Period (XIII+XIV) (Comprising Profit (Loss) and Other Comprehensive Income for the Period) 136.44 (597.74) 201.61 (268.89) XVI Paid-up Equity Share Capital 10,703.28 10,703.28 10,703.28 10,703.28 Face Value of Equity Shares 1 .00 1 .00 1.00 1 .00 XVII Other Equity 2 61.86 XVIII Earnings per Share from Continuing Operations a) Basic 0.01 (0.05) 0 .02 (0.02) b) Diluted 0.01 (0.05) 0 .02 (0.02) XIX Earnings per Share from Discontinued Operations a) Basic - - - - b) Diluted - - - - XX Earnings per Share from Continuing & Discontinued Operations a) Basic 0.01 (0.05) 0 .02 (0.02) b) Diluted 0.01 (0.05) 0 .02 (0.02) Notes : 1. AsperIndianAccounting Standard(lndAS) 108"Operating Segment",the Company'sbusinessfallswithin asingle businesssegment viz."Finance &Investments" andthus Segmental Report for the Quarter is not applicable to the Company. 2. The aforesaid financial Results have been reviewed by Audit Committee and approved by Board of Directors in their meeting held on 11th August 2026. 3. TheseresultshavebeenpreparedinaccordancewiththeIndianAccountingStandards(referredtoas"Ind-AS")34InterimFinancialReportingprescribedunderSection133ofthe Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules as amended from time to time. 4. TheformatofaboveresultshasbeenprescribedbySEBIvidestheirCircularNo.CIR/CFD/CMD/l5/2015dated30thNovember,2015hasbeenmodifiedtocomplywithrequirement oftheSEBICirculardated5thJuly,2016,IndASandinaccordancewithNBFC(DivisionIII)formatofCompaniesAct,2013 (ReferMCANotificationdatedOctober11,2018) applicable to the Companies those are required to comply with Ind AS. 5. Figuresforthequartersended31stMarch2026asreportedinthesefinancialresults,arethebalancingfiguresbetweenauditedfiguresinrespectofthefullfinancialyearsand the published year to date figures up to the end of the third quarter of the respective financial years. 6. The Auditors of the Company have carried out "Limited Review" of the above financial Results. 7. Figures for pervious quarter/year have been re-stated/re-classified wherever necessary. For NCL Research & Financial Services Limited Place : Mumbai Sd/- Date : August 11, 2026 Goutam Bose Managing Director M/s Maheshwari & Co. Chartered Accountants Limited Review Report on Unaudited financial results of NCL Research & Financial Services Limited for the Quarter ended 30th June 2026 Pursuant to the Regulation 33 of the Securities and exchange board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Review Report to The Board of Directors of NCL Research & Financial Services Limited 1. We have reviewed the accompanying statement of unaudited financial results of NCL Research & Financial Services Limited ('the Company') for the quarter ended 30th June 2026, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulation”) 2. This Statement which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantiall [Showing first 8,000 characters — download PDF for full document]