Company Overview and Regulatory Classification
Viji Finance Limited (BSE: 537820, NSE: VIJIFIN), classified as a Non-Systemically Important Non-Deposit Taking NBFC under RBI regulations, convened its 32nd Annual General Meeting on August 13, 2026. The company's asset size of less than ₹500 crore exempts it from maintaining Capital to Risk Weighted Assets Ratio (CRAR) requirements.
Financial Performance Highlights
FY 2025-26 demonstrated exceptional growth with Profit After Tax surging 1070% to ₹197.46 lakh from ₹16.87 lakh YoY. Total income grew 78.89% to ₹523.99 lakh, while Profit Before Tax reached ₹264.11 lakh. The loan portfolio stood at ₹2,943.16 lakh as of March 31, 2026, with provisions of ₹67.93 lakh towards non-performing assets.
AGM Agenda and Corporate Actions
Shareholders approved several key resolutions including:
- Adoption of audited FY26 financial statements
- Increase in authorized share capital from ₹30 crore to ₹75 crore
- Appointment of Mr. Aryaman Kothari as Whole-Time Director at ₹2.5 lakh/month remuneration
- Re-appointment of independent directors and approval of material related party transactions up to ₹100 crore with Chairman Mr. Vijay Kothari
Capital Raising Activities
The company raised ₹24.78 crore through preferential allotment of 8,85,00,000 convertible warrants at ₹2.80 per warrant post-year-end, with 25% upfront payment received. Subsequent conversions increased paid-up capital to ₹19.15 crore. The Board had previously approved issuance of 12.75 crore convertible warrants aggregating ₹35.70 crore, subject to shareholder approval.
Risk Management and Financial Position
Financial assets totaled ₹3,224.48 lakh with loans comprising ₹2,943.16 lakh. Financial liabilities stood at ₹845.95 lakh, primarily consisting of borrowings of ₹724.89 lakh. The company maintains exposure to commercial real estate (₹381.99 lakh) and various sectors including services (₹1,047.92 lakh) and business loans (₹1,263.61 lakh).
Governance and Compliance Matters
Director Mr. Vijay Kothari repaid ₹145.47 lakh for three NPA accounts where he had acted as personal guarantor. The company faced regulatory fines of ₹4,76,720 each to NSE and BSE for delayed filings and transferred 266,963 shares to IEPF after dividend remained unclaimed for 7 years. No customer complaints were received during FY2026.
Post-Balance Sheet Developments
The company completed warrant conversions increasing paid-up capital and appointed new directors, strengthening the board composition to include 1 Executive, 1 Non-Executive Non-Independent, and 2 Independent directors as part of ongoing corporate governance enhancements.