Notice for 34th AGM of the Company and Annual Report for FY 2024-25. The AGM is scheduled to be held on September 22, 2025, at 12.00 Noon IST through VC/OAVM.
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Jagsonpal Services Ltd has filed its 34th AGM notice and Annual Report for FY 2024-25, with the AGM scheduled for September 22, 2025 at 12:00 noon via video conferencing. The company underwent a change of control in June 2024 when Karthik Srinivasan acquired 55.94% stake, triggering a mandatory open offer for 26% (no shares were tendered). Under new management, the company is being repositioned from a traditional NBFC into a fintech platform for Indian students studying abroad, with the product launch planned for FY25-26. FY25 financial performance was weak — total income collapsed to just ₹0.15 Lakhs from ₹49.98 Lakhs in FY24, and the company swung to a loss after tax of ₹71.25 Lakhs from a profit of ₹35.75 Lakhs in the prior year, while net worth rose sharply to ₹1,613.40 Lakhs from ₹96.51 Lakhs. Shareholders will vote on a proposed name change to 'Jagsonpal Services Limited', an alteration of main objects to focus on IT/technology business, and the 5-year reappointment of statutory and secretarial auditors.
The stock is in a transitional phase with negligible revenue and a full-year loss as the new management builds a tech platform rather than running legacy operations, making near-term earnings weak. Shareholders should pay attention to the name change, the proposed shift away from NBFC lending toward an education-fintech model, and the ongoing NBFC acquisition due diligence, all of which will reshape the company's business profile.