Key Financial Performance

Financial Highlights for FY 2025-26 (compared to FY 2024-25):

  • Net Sales/Income from Operations: ₹153.91 lakh (previous year: ₹147.72 lakh)
  • Net Profit/(Loss) before Tax: (₹141.58) lakh (previous year: ₹45.58 lakh profit)
  • Net Profit/(Loss) after Tax: (₹110.43) lakh (previous year: ₹33.73 lakh profit)
  • Earnings per share (Basic): (₹0.96) (previous year: ₹0.29)
  • Earnings per share (Diluted): (₹0.96) (previous year: ₹0.29)

Dividend Declaration

No dividend recommended for FY 2025-26 due to the loss incurred during the year.

Corporate Changes

  • Corporate Office Shift: The corporate office was shifted from 1207A, P.J. Towers, Dalal Street, Fort, Mumbai - 400001 to 173, 17th Floor, Atlanta Building, 209, Jamnalal Bajaj Marg, Nariman Point, Mumbai - 400021 effective 2nd January, 2026.
  • Board Composition: Mr. Ajay Gokul Sharma (DIN: 06960753) was appointed as an Additional Independent Director effective 22nd July, 2025.
  • Key Managerial Personnel:
  • Mr. Uttam Bharat Bagri as Managing Director (w.e.f. 31st July, 2024)
  • Mr. Utsav Uttam Bagri as Chief Financial Officer (w.e.f. 28th October, 2024)
  • Ms. Yojana R. Pednekar as Company Secretary & Compliance Officer (w.e.f. 30th July, 2024)

Capital Structure

  • Authorized Capital: ₹12,00,00,000 divided into 1,20,00,000 Equity shares of ₹10/- each
  • Paid-up Capital: ₹11,50,25,850 divided into 1,15,02,585 Equity shares of ₹10/- each
  • No change in share capital during the year under review

Significant Financial Developments

  • Loan Portfolio: Gross loans of ₹1,364.93 lakh with significant concentration risk - ₹970.00 lakh (71.07% of portfolio) relates to a single unsecured borrower classified as sub-standard asset
  • NSEL Recovery: Recognized ₹55.42 lakh as recoverable from National Spot Exchange Limited dues
  • Bad Debts Written Off: ₹62.32 lakh written off during the year
  • RBI Prudential Provision: ₹97.00 lakh provision made for the sub-standard asset (10% of outstanding principal)

Related Party Transactions

All related party transactions were conducted at arm's length and in ordinary course of business, including:

  • Sitting fees to Independent Directors: ₹1.10 lakh
  • Remuneration to Managing Director: ₹36.00 lakh
  • Remuneration to CFO: ₹12.00 lakh
  • Remuneration to Company Secretary: ₹9.15 lakh
  • Loan transactions with BCB Brokerage Private Limited: ₹440.00 lakh advanced and fully repaid with interest income of ₹15.30 lakh

Audit Matters

  • Statutory Auditor: Bharat Gupta & Co., Chartered Accountants (FRN: 131010W) appointed for 5 years from FY 2025-26
  • Audit Reports: Both statutory audit and secretarial audit reports contain no qualifications, reservations, or adverse remarks
  • Internal Financial Controls: Adequate and operating effectively as per auditor's opinion

Tax Matters

  • Deferred Tax Asset: ₹31.15 lakh recognized on carried-forward tax losses
  • Disputed Tax Demands:
  • ₹79,34,411 for AY 2015-16 (matter remanded to CIT(A) by ITAT)
  • ₹33,41,340 penalty u/s 271(1)(c) for AY 2015-16 (pending with CIT(A))
  • ₹20,000 penalty u/s 271(1)(b) for AY 2015-16 (matter remanded to CIT(A))
  • ₹34,580 for AY 2011-12 (pending with CIT(A))

Corporate Governance

  • Six Board meetings held during the year
  • All mandatory committees constituted (Audit Committee, NRC, Risk Management Committee)
  • Annual evaluation of Board, committees, and individual directors conducted
  • Vigil Mechanism established for directors and employees

AGM Details

  • Date: Wednesday, 30th September, 2026
  • Time: 11:00 a.m.
  • Venue: Corporate Office at 173, Atlanta Building, 209, Jamnalal Bajaj Marg, Nariman Point, Mumbai - 400021
  • Business: To receive, consider and adopt Audited Standalone Financial Statements for FY 2025-26

Risk Factors

  • Credit concentration risk with 71.07% of loan portfolio to single borrower
  • Market risk from investments in quoted equity/ETF instruments (₹97.83 lakh)
  • Recovery uncertainty for sub-standard asset and NSEL dues
  • Pending income tax litigation matters

Additional Information

  • Company had only 3 employees, all Key Managerial Personnel
  • No frauds reported by auditors under section 143(12) of Companies Act, 2013
  • No material orders passed by regulators/courts/tribunals
  • Web link of annual return: www.pyxisfinvest.com