Event Details

The 35th Annual General Meeting of Baid Finserv Limited was held on Wednesday, September 23, 2026 through Video Conferencing (VC)/Other Audio-Visual Means (OAVM). The meeting commenced at 3:00 PM IST and concluded at 3:37 PM IST (including time allowed for e-voting at AGM).

Attendance

Directors and Key Managerial Personnel Present:

  • Mr. Panna Lal Baid (Chairman and Managing Director, Chairman of Risk Management Committee, Asset Liability Management Committee, and Executive Committee)
  • Mr. Aman Baid (Whole-Time Director)
  • Mrs. Alpana Baid (Non-Executive Director)
  • Mr. Surendra Kumar Singhi (Independent Director, Chairman of Audit Committee, Nomination and Remuneration Committee, Corporate Social Responsibility Committee and Stakeholders Relationship Committee)
  • Mr. Chaitnya Sharma (Independent Director)
  • Mr. Anurag Patni (Independent Director)
  • Mr. Himanshu Kumar Jain (Additional Independent Director)
  • Mr. Aditya Baid (Chief Financial Officer)
  • Mrs. Surbhi Rawat (Company Secretary and Compliance Officer)

Other Representatives/Invitees:

  • Mr. Shiv Shankar Khandelwal (Partner, M/s Shiv Shankar Khandelwal & Co., Internal Auditor)
  • Mr. Manoj Maheshwari (Partner, M/s V.M. & Associates, Secretarial Auditor and Scrutinizer of 35th AGM)
  • Mr. Anoop Bhatia (Partner, M/s ABSM & Associates, Statutory Auditor)

Quorum: 48 members attended the meeting through video conferencing.

Financial Performance Highlights (FY 2025-26)

Mr. Aman Baid, Whole-Time Director, presented the following key financial metrics:

  • Total Income: ₹99.19 crore
  • Profit Before Tax (PBT): ₹20.07 crore
  • Profit After Tax (PAT): ₹14.97 crore
  • Assets Under Management (AUM): ₹476.89 crore (20.35% growth over previous year)
  • Gross NPA: 2.66%
  • Net NPA: 0.39%

Strategic Achievements and Updates

  • The company allotted 24,01,366 equity shares on March 12, 2026 pursuant to exercise/conversion of convertible warrants
  • Successful completion of Rights Issue aggregating to ₹30.02 crore
  • CARE Ratings re-affirmed the Company's credit rating at CARE BBB, while revising the outlook from Stable to Positive
  • Recommendation of Final Dividend of ₹0.10 per equity share (5% on face value of ₹2 each) for Financial Year 2025-26
  • Both Statutory Auditor and Secretarial Auditor provided observations in their respective reports for FY 2025-26, which were explained in the Board's report
  • No qualifications, reservations or adverse remarks on the financial statements beyond the explained observations

Agenda Items and Resolutions

The following agenda items were presented for consideration:

Ordinary Business:

1. Adoption of Financial Statements for the Financial Year ended March 31, 2026 (Ordinary Resolution)

2. Declaration of Final Dividend of ₹0.10 per equity share for FY 2025-2026 (Ordinary Resolution)

3. Reappointment of Mrs. Alpana Baid as Director who retires by rotation (Ordinary Resolution)

Special Business:

4. Re-Appointment of Mr. Panna Lal Baid as Chairman and Managing Director for 3 years from April 1, 2027 to March 31, 2030 (Special Resolution)

5. Appointment of Mr. Himanshu Kumar Jain as Non-Executive Independent Director for 5 years from August 13, 2026 to August 12, 2031 (Special Resolution)

6. Alteration of the Object Clause of the Memorandum of Association to widen the scope of the Company's lending and financing activities (Special Resolution)

Voting and Shareholder Engagement

  • Remote e-voting facility was provided through CDSL e-voting system from September 19, 2026 (9:00 AM IST) to September 22, 2026 (5:00 PM IST)
  • 9 shareholders registered as speaker shareholders, with 2 present at the meeting
  • Shareholders asked questions relating to business, operations, and future plans, with responses provided by Mr. Aman Baid
  • Mr. Manoj Maheshwari was appointed as Scrutinizer to scrutinize the remote e-voting process and e-voting at AGM
  • Voting results and Scrutinizer's report to be declared within two working days and disseminated to stock exchanges and company website
  • Voting window remained open for 15 minutes after conclusion of AGM for members who had not voted via remote e-voting