What we do Shikhar Consultants Ltd is a non-banking financial company (NBFC) offering financial advisory services including public issue advice, project counseling, and capital structuring in Maharashtra, India. |
Founded in 1,993 |
Market share Holds Category-IV merchant banker status; applying for upgrade to Category-I indicating growth ambitions in financial services sector. |
Problem solved Provides expert financial advisory and merchant banking services to clients facing complex capital market challenges. |
Top clients or who we serve Serves corporate clients requiring financial consultancy, merchant banking, underwriting, and capital market trading services; primarily B2B. |
Key management Jeetmal Ramkaran Asawa, Managing Director; Rajesh Shrinivas Daga, Executive Director; experienced leadership with deep sector knowledge. |
Our journey and innovations Incorporated in 1993; faced capital market downturns but diversified into merchant banking, underwriting, and consultancy to stabilize growth. |
Where we operate Operations currently focused in Maharashtra, India, exploring expansion into commodities and exports for steady growth. |
Top products or what we offer Financial advisory, merchant banking, underwriting, share and securities trading, management consultancy services. |
Top brands - |
Raw materials needed - |
Raw materials supplier - |
Recurring vs cyclical contribution Revenue largely cyclical, dependent on capital market conditions and trading activities. |
Our industry position Small player in the NBFC sector with ambitions to upgrade merchant banking status and expand service offerings. |
Financial highlights Total revenue was zero with a net loss of approximately Rs. 0.09 crore in FY 2024-25, reflecting recent challenging market conditions. |
Geographical revenue split - |
Order book - |
Whats driving growth Focus on upgrading merchant banking category, expanding into management consultancy and commodity trading to diversify revenue. |
Our future plans Plans include acquiring stock broker memberships, venturing into commodity trading, and exploring export opportunities. |
Our green promise - |
Our people and values Small employee base; culture emphasizes ethical conduct, risk management, and regulatory compliance. |
Key challenges ahead Capital market volatility, stagnant revenue, and growth dependency on regulatory approvals for service expansion. |
Interesting facts Successfully revoked trading suspension in late 2024, signaling recovery efforts in capital markets. |
Risks and strategy Market risks mitigated through diversification into allied financial services, strengthened governance, and risk management frameworks. |
