We are hereby submitting 42nd AGM along with Annual Report of the Company for the financial year ended March 31, 2025 as attached for your reference.
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GSB Finance Limited has submitted its 42nd Annual General Meeting notice and Annual Report for the financial year ended March 31, 2025. The AGM will be held on Saturday, September 13, 2025 at 2:30 PM via Zoom (OAVM). The Register of Members and Share Transfer Books will remain closed from September 6 to September 13, 2025, with the cut-off date for e-voting eligibility set as September 6, 2025; e-voting will run from September 10 (9:00 AM) to September 12 (5:00 PM) via CDSL. AGM business includes adoption of audited financials, re-appointment of Suyash Biyani (retiring by rotation), and appointment of M/s. J K & Associates as Secretarial Auditor for FY 2025-26 to FY 2029-30. Financial performance declined sharply — Gross Income fell to Rs. 1.78 crore (from Rs. 3.67 crore) and Net Profit After Tax dropped to Rs. 71.65 lakh (from Rs. 1.57 crore). No new business was undertaken during the year and no dividend was declared. A key disclosed event: an Open Offer was triggered by a Share Purchase Agreement dated November 29, 2024, under which acquirers (Vivek Kumar Singhal, Kshitij Agarwal, Nivesh Mandi Pvt Ltd, and Stock Mandi) purchased 33,14,820 shares (55.25% of voting capital) from existing promoters.
Shareholders should note the major ownership change with 55.25% of shares sold to new acquirers, which could lead to shifts in business direction and board composition. The sharp drop in revenue and profits, combined with no new business activity and no dividend, signals a transition phase for this RBI-registered Base Layer NBFC.