Fusion Finance Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
FUSION · price
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Fusion Finance's board approved unaudited Q2 FY26 results showing a sharply reduced loss of ₹22 crore versus ₹92 crore in Q1 FY26, with disbursements up 37% QoQ to ₹1,298 crore and AUM at ₹7,038 crore. Gross NPA improved to 4.61% (from 5.43%) and CRAR remained strong at 31.31%, though the company is still loss-making on a year-on-year basis. The board approved a private placement of ₹100 crore of secured NCDs (11% coupon, 24-month tenor, BSE listing) and a broader enabling approval for up to ₹1,000 crore of NCDs in tranches. A first and final call of ₹65.50 per share on partly paid-up rights issue shares was set, with November 11, 2025 as the record date. Founder and director Mr. Devesh Sachdev resigned with immediate effect, waiving his AOA right to nominate an executive director, with related AOA amendments to be taken to shareholders via postal ballot. Auditors flagged a material going concern uncertainty, noting the company breached financial covenants on borrowings of ₹2,076.78 crore, though extensions were obtained for ₹1,330.86 crore.
Shareholders get a mixed picture: operating metrics are improving (lower losses, better NPA, higher disbursements) but profitability remains elusive and auditors have flagged a going concern issue tied to lender covenants. The call money on partly paid-up shares and planned NCD issuances signal active liability management, while the founder's exit and AOA amendment mark a governance transition. Near-term stock reaction may hinge on whether the loss trajectory and asset quality sustain their recovery path.