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Awaiting price reaction for this filing.
KJMC Financial Services' Board, meeting on August 8, 2025, approved several key items. Q1 FY26 standalone profit after tax more than doubled to Rs 107.83 lakhs (vs Rs 52.31 lakhs in Q1 FY25) on total income of Rs 220.88 lakhs, driven mainly by trading income. The Board appointed M/s V.P. Thacker & Co as new Statutory Auditor for a 5-year term starting from the 37th AGM (Sept 25, 2025), M/s Aabid & Co as Secretarial Auditor, and Mr. Kartik Konar as the new CFO. Mr. Vijay Joshi was re-appointed as Independent Director for a second 3-year term, and the Audit Committee was reconstituted. The Board also proposed raising funds via Non-Convertible Debentures on a private placement basis, subject to member approval.
Strong quarterly earnings with PAT more than doubling year-on-year are positive, though OCI was negative due to mark-to-market losses on equity investments. Routine auditor and CFO appointments carry no negative governance signal; the NCD fundraising proposal could expand the company's lending capacity but will dilute existing bond holders if additional debt is raised.