Finkurve Financial Services Clarifies NSE Query on Results

Financial Analyst Summary: Finkurve Financial Services Limited NSE Query Response

Summary of the Company’s Response

This document is a comprehensive response from Finkurve Financial Services Limited to a query raised by the National Stock Exchange of India Limited (NSE) via mail dated January 19, 2026. The query concerned the submission of the outcome of the Board Meeting held on November 13, 2025, which approved the company's financial results.

Date of Communication and Nature of the NSE Query

The company's clarification letter is dated January 19, 2026. It is addressed to the NSE's Compliance Department. The nature of the NSE's query pertained to two specific issues regarding the submission of the financial results approved on November 13, 2025:

1. The legibility and machine-readability of the submitted financial results document.

2. The signing of the financial results by the authorized signatory.

Company’s Clarification on Issues

1. Machine Readable / Legible Copy of Financial Results:

The company acknowledged that the initially submitted document was not legible or machine-readable due to inadvertent technical issues arising from PDF merging and the use of different scanners. The company clarified that this was unintentional and has now re-submitted the financial results in a clear and legible format. It has assured that such issues will not recur in future submissions.

2. Signing of Financial Results by Authorized Signatory:

The company confirmed that the financial results were signed in full compliance with Regulation 33(2)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It was clarified that Mr. Ketan Kothari, the Chairperson of the company, signed the results. His authority to do so was based on a Board Resolution passed at the meeting on November 13, 2025, which authorized him to sign the financial results.

Reference to Regulatory Compliance

The response heavily emphasizes compliance with SEBI LODR Regulations. It specifically references:

• Regulation 30, 33, 52, and 54 read with Schedule III for the broader disclosure of the board meeting outcomes.
• Regulation 33(2)(b) to justify the signing authority of Mr. Ketan Kothari.
• SEBI Master Circular No. SEBI/HO/DDHS-PoD3/P/CIR/2024/46 dated May 16, 2024 in the context of the Security Cover Certificate.

The company states that its submissions are in "full compliance with the applicable provisions of SEBI LODR Regulations."

Details of Financial Results and Board Approvals

The document includes the detailed unaudited financial results for the quarter and half-year ended September 30, 2025, which were a primary outcome of the November 13 board meeting.

Key Financial Highlights (Quarter ended Sept 30, 2025 vs Sept 30, 2024):

• Total Income: ₹48.14 Cr (vs ₹32.13 Cr)
• Revenue from Operations: ₹48.05 Cr (vs ₹31.90 Cr)
• Interest Income: ₹34.03 Cr (vs ₹18.76 Cr)
• Fees & Commission Income: ₹13.89 Cr (vs ₹13.14 Cr)
• Profit Before Tax (PBT): ₹7.39 Cr (vs ₹4.66 Cr)
• Profit After Tax (PAT): ₹5.92 Cr (vs ₹3.47 Cr)
• Basic EPS: ₹0.42 (vs ₹0.27)

Asset Quality:

• Gross NPA (as of 30.09.2025): ₹7.49 Cr
• Net NPA (as of 30.09.2025): ₹5.89 Cr
• Capital to Risk-Weighted Assets Ratio (CRAR): 47.13%

Other Key Board Approvals on November 13, 2025:

1. Approval of the unaudited financial results and the limited review report by statutory auditors, M/s Ladha Singhal & Associates.

2. A statement on the utilization of proceeds from a preferential issue (₹141.50 Cr raised on May 21 & 27, 2025), confirming no deviation. ₹111.50 Cr has been utilized for onward lending and investment; ₹30 Cr (75% of share warrants) is yet to be received.

3. A Security Cover Certificate for listed Non-Convertible Debentures, confirming an asset cover of 110% of the outstanding principal amount (₹7,037.05 Lakhs including accrued interest).

4. Appointment of Mr. Naveen Kottala (PAN: BCPPK1609F) as Chief Executive Officer (CEO) and Key Managerial Personnel, effective from November 18, 2025. His profile details over 15 years of experience in NBFCs, gold loans, and MSME lending.

5. Reconstitution of the Asset-Liability Committee and Risk Management Committee, effective November 18, 2025. The new composition for both committees is:

• Chairman: Mr. Naveen Kottala
• Members: Mr. Aakash Jain, Mr. Prakash Tiwari