AGM Details

  • Date: Monday, 24th August 2026
  • Time: 12:30 PM IST
  • Mode: Video Conferencing/Other Audio-Visual Means (VC/OAVM)
  • Record Date: 17th August 2026
  • E-voting Period: 21st August 2026 (9:00 AM) to 23rd August 2026 (5:00 PM)
  • Scrutinizer: M/s. HRU & Associates, Practicing Company Secretaries

Business Items for AGM

Ordinary Business:

1. Adoption of audited financial statements for FY ended 31st March 2026

2. Re-appointment of Mrs. Durriya Hozef Darukhanawala (DIN: 00177073) who retires by rotation

Special Business:

3. Appointment of Mr. Saideep Rajendrakumar Agarwal (DIN: 03301828) as Non-Executive Non-Independent Director (Ordinary Resolution)

4. Appointment of Mr. Vikrant Ponkshe (DIN: 06985597) as Independent Director for 5 years from 27th May 2026 to 26th May 2031 (Special Resolution)

5. Appointment of Mr. Vishal Suresh Agarwal (DIN: 06614483) as Independent Director for 5 years from 27th July 2026 to 26th July 2031 (Special Resolution)

Financial Performance (FY 2025-26)

  • Revenue from Operations: ₹151.40 lakhs (Previous year: ₹214.21 lakhs)
  • Total Expenses: ₹103.73 lakhs (Previous year: ₹145.02 lakhs)
  • Profit Before Tax: ₹47.67 lakhs (Previous year: ₹69.19 lakhs)
  • Provision for Income Tax: ₹12.00 lakhs (Previous year: ₹18.00 lakhs)
  • Profit After Tax: ₹35.67 lakhs (Previous year: ₹51.19 lakhs)
  • Transfer to Reserves Fund 45IC: ₹7.13 lakhs (Previous year: ₹10.24 lakhs)
  • Preference Share Dividend: ₹4.09 lakhs @7% (Previous year: ₹12.64 lakhs)
  • No equity dividend recommended for FY 2025-26

Key Financial Position (as at 31st March 2026)

  • Share Capital: ₹1,164.62 lakhs (Equity: ₹1,003.82 lakhs, Preference: ₹160.80 lakhs)
  • Reserves and Surplus: ₹341.30 lakhs
  • Long-term Borrowings: ₹1,365.74 lakhs (including corporate deposits ₹198.98 lakhs, directors' deposits ₹816.95 lakhs)
  • Asset Financing (Hire Purchase Loans): ₹2,882.54 lakhs
  • Total Outstanding Advances: ₹2,915.88 lakhs
  • Gross NPA: ₹65.89 lakhs (2.26% of total assets)
  • Net NPA: ₹13.34 lakhs (0.46% of total assets)
  • Capital Adequacy Ratio (CRAR): 49.40% (Tier I: 44.04%, Tier II: 5.36%)
  • Net Worth: ₹1,505.92 lakhs

Business Operations

  • NBFC Classification: Non-Deposit Accepting NBFC-Investment and Credit Company-Base Layer (NBFC-ICC-BL)
  • Sanctioned Loans: 21 secured loans totaling ₹163.40 lakhs during FY26
  • Collections: ₹167.36 lakhs from hire purchase & loan accounts
  • Asset Financing Ratio: Maintained above RBI norm of 60%
  • Average Yield on Advances: 15.5% p.a.

Corporate Actions

  • Rights Issue: Proposed rights issue of up to ₹49 crores approved in-principle by BSE on 29th November 2024 but subsequently withdrawn due to market conditions
  • Authorized Capital Increase: Members approved increase to ₹60 crores via postal ballot on 22nd August 2025, but not implemented after rights issue withdrawal
  • Preference Share Redemption: Redeemed 1,005,500 preference shares of ₹10 each (aggregating ₹100.55 lakhs) during FY26

Board Composition Changes

  • Ceased Directors: Mr. Rakesh Anil Bissa (ceased w.e.f. 25th September 2025), Mr. Vijaypratap Talukdar Singh (Independent Director, ceased w.e.f. 28th June 2026)
  • New Appointments: Mr. Saideep Rajendrakumar Agarwal (Non-Executive Director from 27th May 2026), Mr. Vikrant Ponkshe (Independent Director from 27th May 2026), Mr. Vishal Suresh Agarwal (Independent Director from 27th July 2026)
  • Current Board: Mr. Javid Husain Parkar (Independent Chairperson), Mr. Hozef Abdulhussain Darukhanawala (Managing Director), Mrs. Durriya Hozef Darukhanawala (Non-Executive Director)

Key Managerial Personnel

  • Mr. Hozef Abdulhussain Darukhanawala - Managing Director (remuneration: ₹6.00 lakhs)
  • Ms. Anjum Bahar Sayed - Chief Financial Officer (remuneration: ₹4.56 lakhs)
  • Ms. Tripti Jain - Company Secretary and Compliance Officer (remuneration: ₹2.64 lakhs)

Shareholding Pattern

  • Promoters: 28.33% (Hozef Darukhanawala), 5.52% (Durriya Darukhanawala)
  • Public Holding: 60.02%
  • Physical Shares: 6.78%
  • Demat with CDSL: 42.62%
  • Demat with NSDL: 48.06%

Other Significant Information

  • Bankers: DCB Bank, Central Bank of India, Bombay Mercantile Cooperative Bank, Samata Sahakari Bank, Punjab and National Bank
  • Statutory Auditors: M/s. P S V Jain and Associates, Chartered Accountants
  • Secretarial Auditors: M/s. HRU and Associates, Company Secretaries
  • RTA: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)

Corporate Governance

  • Board Meetings: 6 meetings held during FY25-26
  • Audit Committee: 5 meetings held
  • Nomination & Remuneration Committee: 2 meetings held
  • Stakeholders Relationship Committee: 1 meeting held
  • Whistle Blower Policy: In place with no complaints during FY26