Detailed Summary

AGM Details

The 40th AGM is scheduled to be held on Wednesday, 15th July 2026 at 10:00 a.m. at the Registered Office of the Company at 16/16-A, Civil Lines, Kanpur - 208 001.

Ordinary Business Agenda

1. Adoption of Financial Statements: To receive, consider, and adopt the Audited Financial Statements as at 31st March 2026, together with the Directors' Report and Auditors' Report.

2. Director Reappointment: To appoint a director in place of Dr. Mukul Agarwal (DIN: 00234962) who retires by rotation and, being eligible, offers himself for re-appointment.

3. Auditor Appointment: To appoint auditors and fix their remuneration - specifically to consider appointing M/s. V.P. Aditya & Company, Chartered Accountants (Registration No. 000542C) as Statutory Auditors for a remuneration of ₹55,000.

Shareholder Information

  • Record Date: The Register of Members and Share Transfer Books will remain closed from 9th July 2026 to 15th July 2026 (both days inclusive).
  • Voting Rights: Shall be reckoned on the paid-up value of shares registered in the name of the member/beneficial owner as on the cut-off date of 8th July 2026.
  • E-Voting: The company is providing remote e-voting facility through CDSL. The voting period begins on 12.07.2026 at 9:00 AM and ends on 14.07.2026 at 5:00 PM.
  • Scrutinizer: Mrs. Ratna Tewari, Practicing Company Secretary (C.P. No. 19765) has been appointed as the Scrutinizer.

Financial Performance Highlights (FY 2025-26)

Income Statement Summary (₹ in Lakhs)

| Particulars | 31.03.2026 | 31.03.2025 |

| Revenue from Operations | 37.48 | 511.24 |

| Interest Income | 31.36 | 32.38 |

| Dividend Income | 3.51 | 2.44 |

| Management Fees | 2.62 | 1.98 |

| Other Income | 0.09 | 0.76 |

| Total Income | 37.57 | 512.00 |

| Net Loss on Fair Value Changes | (232.76) | 0.00 |

| Employee Benefits Expenses | 39.83 | 40.92 |

| Depreciation | 4.78 | 5.56 |

| Other Expenses | 29.81 | 33.42 |

| Total Expenses | 308.45 | 81.10 |

| Profit/(Loss) Before Tax | (270.88) | 430.90 |

| Tax Expense | (0.04) | (0.94) |

| Profit/(Loss) After Tax | (270.84) | 431.84 |

| Other Comprehensive Income | 18.64 | 31.74 |

| Total Comprehensive Income | (252.20) | 463.58 |

| EPS (Basic & Diluted) | (4.51) | 7.20 |

Balance Sheet Summary (₹ in Lakhs)

| Particulars | 31.03.2026 | 31.03.2025 |

| Total Assets | 6,571.00 | 6,825.92 |

| Cash and Cash Equivalents | 23.19 | 33.41 |

| Trade Receivables | 2.07 | 1.12 |

| Loans | 153.57 | 134.67 |

| Investments (Mutual Funds) | 6,344.16 | 6,610.84 |

| Property, Plant and Equipment | 38.63 | 36.94 |

| Total Liabilities | 33.64 | 36.36 |

| Total Equity | 6,537.36 | 6,789.56 |

| Share Capital | 600.00 | 600.00 |

| Other Equity | 5,937.36 | 6,189.56 |

Key Financial Ratios

| Ratio | 31.03.2026 | 31.03.2025 | Remarks |

| Debtors Turnover Ratio | 21.29 | 31.92 | Decrease due to reduced interest income |

| Current Ratio | 6.48 | 4.57 | Increase due to decrease in cash and receivables |

| Operating Profit Margin | -1.83% | -14.35% | Decrease due to decline in operating income |

| Net Profit Margin | -720.95% | 84.16% | Decrease due to net loss on fair value changes of investments |

| Return on Net Worth | -4.14% | 6.38% | Decrease due to net loss on fair value changes of investments |

Business Operations

  • Loan Business: Executed loan business of ₹130.90 lakhs compared to ₹102.40 lakhs in previous year
  • Investment Activity: Company is concentrating on utilizing surplus funds in mutual fund schemes
  • NPA Status: Gross NPAs of ₹12.07 lakhs, Net NPAs of ₹10.86 lakhs as on 31st March 2026
  • Employee Strength: 13 employees, all male, with no complaints of sexual harassment

Director Information

  • Dr. Mukul Agarwal (DIN: 00234962), aged 59 years, retires by rotation. He holds Master Degree in Commerce and Ph.D. in Merchant Banking and Development in India. He has 34 years' experience in Finance services and Industry and is a Director in Mathura Investment Pvt. Ltd., Kals Tex Pvt. Ltd., Hilman Tex Pvt. Ltd. and Mudra Steel Pvt. Ltd.
  • Board composition: Six directors - One promoter Non-Executive & Non-independent Director, Three Independent Non-Executive Directors (including one women director), One Non-Independent Non-Executive Director and One Non-Independent Executive-Director
  • Board met 5 times during the year on 15/04/2025, 13/05/2025, 15/07/2025, 16/10/2025 and 18/01/2026

Auditor Matters

  • M/s. V.P. Aditya & Company, Chartered Accountants (Registration No. 000542C) will retire at the ensuing AGM
  • They have confirmed eligibility for re-appointment within prescribed limits
  • Auditor's report contains qualifications regarding non-compliance with IND AS-19 "Employee Benefits" as gratuity provisions are made as per Payment of Gratuity Act, 1972 instead of actuarial valuation

Regulatory Compliance Issues

  • BSE Fines: Total fines of ₹0.73 lakhs levied under Regulation 24(A) of SEBI (LODR) Regulations, 2015:
  • ₹- lakhs on 26.06.2025 for non-filing of Secretarial Compliance Report in XBRL format for FY 2024-25 (paid on 27.06.2025)
  • ₹- lakhs on 14.07.2025 for delay in filing of Secretarial Compliance Report for FY 2024-25 (paid on 16.07.2025)
  • Fine levied on 16.12.2025 for delay in filing related party transactions for half year ended September 2025 was waived after request
  • Other Compliance Observations:
  • Company website is in process of being updated to ensure complete alignment with SEBI (LODR) requirements
  • Certain policies are under review and required to be updated
  • Certain disclosures under Regulation 30 of SEBI (LODR) were not made in timely and/or complete manner

Corporate Governance

  • The company has adopted Code of Ethics & Business Conduct for Directors and Senior Management
  • No material related party transactions during the year
  • Whistle Blower Policy is in place - no complaints received during the year
  • CSR Obligation: Not applicable as net profit after adjusting for notional loss on investments is below ₹5 crore threshold

Other Significant Information

  • Listing: Shares listed on BSE Limited with scrip code not specified. ISIN: INE130F01016
  • Shareholding Pattern: Promoters hold 69.08%, Public holding 30.92%
  • Demat Status: 78.87% shares held in dematerialized form (47,32,493 shares), 21.13% in physical form (12,587,507 shares)
  • Dividend: No dividend recommended for FY 2025-26 to build up resources
  • Income Tax: Assessment completed up to AY 2025-26. Demand of ₹0.09 lakhs raised for AY 2025-26 which company is appealing
  • RBI Registration: The company is registered with RBI as NBFC with Registration No. B-12.00414

Capital Structure Impact

No change in share capital during the year. Authorized share capital: 100,00,000 Equity Shares of ₹10/- each. Issued, Subscribed and Paid-up: 60,00,000 Equity Shares of ₹10/- each.

Cash Flow Implications

As disclosed in the cash flow statement:

  • Net cash used in operating activities: ₹(59.86) lakhs
  • Net cash from investing activities: ₹49.64 lakhs
  • Net cash from financing activities: ₹0.00 lakhs
  • Net decrease in cash and cash equivalents: ₹(10.22) lakhs

Forward-looking Statements

The Chairman's message indicates:

  • The Indian economy demonstrated resilience with GDP growth of approximately 7.0% to 7.5%
  • Company sees ample scope for vehicle financing which is its thrust area
  • Company moving forward with caution due to high-risk nature of vehicle financing in northern region
  • Substantial potential foreseen in revenue generation from investing surplus funds in mutual funds