Board Meeting Details

  • Date: July 15, 2026
  • Start Time: 1:30 PM
  • End Time: 2:30 PM
  • Duration: 1 hour

Key Decisions Approved

1. Alteration of Memorandum of Association Object Clause

  • Approved alteration in Clause III (Object Clause) of Memorandum of Association
  • Subject to approval of members via Postal Ballot and other statutory/regulatory approvals
  • Purpose: To align with Companies Act, 2013 and facilitate expansion into financial services including:
  • Housing finance activities
  • Diversified lending and credit facilities
  • Insurance distribution and allied financial services
  • Specific proposed alterations include:
  • Adding new sub-clauses for housing finance business (subject to NHB/RBI regulations)
  • Adding provisions for dealing with mortgages and security interests
  • Adding provisions for various lending activities including housing loans, business loans, MSME loans, etc.
  • Adding provisions for insurance intermediary/brokerage business

2. Appointment of Additional Directors

  • Appointed Mr. Yogesh Yashpaul Chadha (DIN: 01681680) as Additional Director (Independent and Non-Executive)
  • Appointed Mr. Devesh Srivastava (DIN: 08646006) as Additional Director (Independent and Non-Executive)
  • Term: 5 consecutive years from July 15, 2026 to July 14, 2031
  • Subject to approval of members via Postal Ballot
  • Both directors confirmed not debarred from holding office by SEBI or any other authority

Director Profiles:

Mr. Yogesh Yashpaul Chadha:

  • Chartered Accountant, B.Com (Hons.) from Delhi University, pursuing doctorate
  • 37 years of experience in financial services industry
  • Former senior positions at Riyadh Investment Company, HSBC, JP Morgan Chase, DCB Bank
  • Current roles: Chairman (Independent Director) at Sharekhan Limited, Mirae Asset Financial Services (India), OnEMI Technology Solutions
  • Board positions at Global Partners Property Fund (UAE), Choice Asset Management, SI CREVA Capital

Mr. Devesh Srivastava:

  • Former Chairman & Managing Director of General Insurance Corporation of India (GIC Re)
  • BSc (Hons) Physics from St Stephen's College Delhi, MSc from Delhi University, PGDM (Marketing) from MDI Gurgaon
  • Insurance industry experience since 1987
  • Former board positions at GIC Re, GIC Housing Finance, LIC, and various other insurance entities
  • Current Chairman of Liberty General Insurance, India and Niyam group (Lloyds Syndicate 2047)

3. Unaudited Financial Results for Q1 FY27

  • Quarter ended: June 30, 2026
  • Total Income: ₹9.46 crore (vs ₹11.62 lakh YoY)
  • Total Expenses: ₹21.44 lakh (vs ₹9.73 crore YoY)
  • Profit Before Tax: ₹9.24 crore (vs ₹9.62 crore loss YoY)
  • Net Profit: ₹9.24 crore (vs ₹9.62 crore loss YoY)
  • Total Comprehensive Income: ₹9.24 crore (vs ₹9.54 crore loss YoY)
  • EPS (Basic & Diluted): 15.41% (vs -16.03% YoY)
  • Paid-up Equity Share Capital: ₹6.00 crore (face value ₹10 per share)

Key Financial Ratios (Q1 FY27):

  • Current Ratio: 10.06 times
  • Net Profit Margin: 97.73%
  • Gross NPA Ratio: 9.09%
  • Net NPA Ratio: 8.18%
  • NPA Provision Coverage Ratio: 10.00%
  • Capital Adequacy Ratio: 130.97% (yearly basis)

4. Enhancement of Borrowing Limits

  • Approved enhancement of borrowing powers under Section 180(1)(c) of Companies Act, 2013
  • New aggregate borrowing limit: ₹1500 crore
  • Subject to approval of members via Postal Ballot

5. Creation of Security Interests

  • Approved creation of mortgages, charges, hypothecation over company assets under Section 180(1)(a)
  • For securing company borrowings
  • Subject to approval of members via Postal Ballot

6. Postal Ballot Approval

  • Board approved Notice of Postal Ballot with Explanatory Statement for member approval on:
  • MOA alteration
  • Director appointments
  • Borrowing limits
  • Creation of security interests
  • Appointed Mr. Ankit Dhanotia (COP-25667) of M/s ADJ & Associates as Scrutinizer for e-voting process

Financial Impact

  • The MOA alteration and expansion plans may have future financial implications but are not quantified in current disclosure
  • Director appointments and increased borrowing limits may impact future operations and financial structure

#Tags: #KeyCorpLimited #SEBIDisclosure #BoardMeeting #FinancialResults #RegulatoryCompliance #Positive