Sanchay Finvest Ltd.
Board Meeting Outcomes
The Board of Directors meeting commenced at 3:00 PM and concluded at 5:30 PM on August 4, 2026, at the company's registered office in Mumbai. The board considered and approved two key matters:
1. Unaudited Financial Results: Approved the unaudited financial results for the quarter ended June 30, 2026, along with the limited review report issued by the statutory auditors, Jain Jagawat Kamdar & Co.
2. Appointment of Secretarial Auditor: Approved the appointment of M/s. Shravan A. Gupta & Associates (Firm Registration No.: 52013MH23000) as the Secretarial Auditor of the company for a term of five consecutive years, commencing from FY 2026-27 till FY 2030-31. This appointment is subject to approval by the members at the ensuing Annual General Meeting (AGM). The firm was recommended due to its strong track record and expertise in Corporate Laws, SEBI regulations, and the Insolvency and Bankruptcy Code.
Q1 FY27 Financial Performance (₹ Lakhs)
- Revenue from Operations (Net of Tax): ₹17.39
- Other Income: ₹0.42
- Total Revenue (Net): ₹17.81
- Total Expenses: ₹57.43
- Employee Benefits Expense: ₹16.91
- Finance Cost: ₹2.54
- Depreciation & Amortization: ₹0.64
- Other Expenses: ₹37.34
- Profit/(Loss) before tax: (₹39.62) [Loss]
- Tax Expense: ₹3.70
- Current Tax: ₹0.00
- Deferred Tax: ₹0.00
- (Excess)/Short Provision: ₹3.70
- Net Profit/(Loss) for the period: (₹39.62) [Loss]
- Paid-up Equity Share Capital: ₹80.00 (Face Value ₹10 per share)
- Reserves (excluding Revaluation Reserves): ₹0.45
- Earnings Per Share (EPS) (not annualized):
- Basic: (₹0.45)
- Diluted: (₹0.45)
Auditor's Limited Review Report - Emphasis of Matter
The independent auditor, Jain Jagawat Kamdar & Co., issued a limited review report dated August 4, 2026, which included an Emphasis of Matter paragraph drawing attention to several key issues:
1. Preference Share Non-Compliance (Note 5): The company has 123 Redeemable Non-Cumulative Preference Shares with a one-year tenure that were due for redemption. The company has not paid dividends at the agreed rate, has not paid all shareholders, and has not redeemed the shares post their due date. This indicates potential non-compliance with the terms of issue and may have regulatory implications. These shares, held by promoters, are classified as a compound financial instrument. The effective interest on the liability component has not been recognized in the books for the year ended March 31, 2026.
2. Outstanding NSE Dues (Note 6): As of March 31, 2026, a financial status report from the National Stock Exchange (NSE) reflected outstanding dues aggregating ₹28.39 lakh. Subsequently, ₹3.69 lakh was reversed/adjusted by the Exchange after reconciliation. The company paid ₹22.50 lakh on May 6, 2026, towards these outstanding dues, following a notice received from NSE on May 4, 2026. The outstanding dues have been adjusted in the books based on the latest financial status report from NSE.
3. Lack of Reconciliation Procedures (Note 7): The company does not have an appropriate system for obtaining confirmations and performing reconciliations for balances of deposits, advances, and other receivables/payables. Due to the absence of sufficient appropriate audit evidence, the auditor is unable to determine the possible impact on the financial results.
4. MSME Classification (Note 8): Trade payables have been classified into MSME and others, and further into disputed or undisputed, based solely on management's assessment without providing supporting audit evidence. The auditor is unable to comment on the accuracy of this classification.
The auditor's opinion is not modified in respect of these matters.
Other Notes to Financial Results
- Segment Reporting: The company operates in a single reportable segment, "Share Broking & Trading in Securities." All activities are restricted within India.
- Investor Complaints: There were zero investor complaints received and zero pending during the quarter ended June 30, 2026.
- Preferential Allotment: Pursuant to board approval and in accordance with Section 62(1)(c) of the Companies Act, 2013, the company allotted 33,50,000 equity shares at ₹10 each on April 20, 2026. The entire subscription amount of ₹3.35 crore was recognized as Equity Share Capital.
- Prior Period Comparatives: Figures for previous periods have been regrouped/reclassified where necessary for comparability.