Shares of Gaja Alternative Asset Management fell as much as 3.5% on Thursday following disappointing quarterly results, with the stock settling at ₹155.33 per share on the NSE, down 2.12% from the previous close. According to latest market data, the stock was trading within a day range of ₹153.25 to ₹163.90, while its 52-week range spans from ₹149.51 to ₹191.65. The decline came after the company reported mixed quarterly performance for the June quarter of fiscal 2026-27, marking the company's first results since its stock market debut in August 2026.
The company's revenue from operations fell nearly 50% to ₹15.64 crore in the first quarter of 2026-27, compared with ₹30.76 crore in the same quarter of the previous fiscal year. However, total income showed strong growth of 27% to ₹52 crore in Q1 FY27, up from ₹41 crore in the same quarter last year. On a sequential basis, revenue declined 20% from ₹20 crore in the March quarter, while total income grew 148% quarter-on-quarter from ₹21 crore in Q4 FY26. Despite the revenue challenges, the company managed to improve its profitability metrics during the quarter.
Despite the revenue decline, Gaja Alternative Asset Management reported a 35.66% increase in consolidated net profit to ₹26.82 crore in the June quarter, compared with ₹19.77 crore in the same quarter of the previous fiscal year. The company also declared a final dividend of 15% (₹0.75 per share) for Financial Year 2025-26, marking its first dividend distribution since going public. According to Business Standard, the company's consolidated profit before tax rose 34% to ₹31.93 crore for the quarter ended June of financial year 2026-27, with the company operating through three income streams: management fee income, management performance income, and treasury income.
This was the company's first result after its shares were listed on the exchanges in August 2026, marking a significant milestone for the alternative asset management firm. Gaja Alternative Asset Management, which operates under the Gaja Capital brand, was listed at ₹185 per share on the NSE on August 26, achieving a premium of 15.63% over the issue price. On the BSE, the shares were listed at ₹185.20, representing a premium of 15.75% over the issue price. The ₹550-crore initial share sale had a price band of ₹152-160 per share, with the company's current market capitalization standing at ₹22.38 billion.
Gaja Alternative Asset Management currently manages four funds with ₹3,200 crore of committed capital, as reported by The Economic Times. The company recently received approval from SEBI to launch a fifth fund targeting ₹2,500 crore corpus. The company plans to provide ₹210 crore of sponsor commitments to the fifth fund, similar to the previous funds that raised seed capital from Gaja Alternative Asset Management. The firm specializes in turnaround, series C and investments in smaller end of middle market companies, focusing on technology and technology-enabled sectors with investments between $5 million and $18.36 million per portfolio company.
