Outcome pertaining to Change in Management
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KJMC Financial Services, an NBFC, held a board meeting on August 8, 2025 and approved several key items. Mr. Kartik Konar (B.Com, CA Inter, 10+ years in accounting and taxation) has been appointed as the new Chief Financial Officer effective the same day. Mr. Vijay Joshi (Independent Director, DIN 00151550) has been re-appointed for a second 3-year term starting September 6, 2025, subject to shareholder approval. New Statutory Auditor M/s V.P. Thacker & Co. and Secretarial Auditor M/s Aabid & Co. have been appointed for 5-year terms. The 37th AGM is scheduled for September 25, 2025. The Board also approved a proposal to raise funds via Non-Convertible Debentures (NCDs) and market-linked debentures on a private placement basis, pending shareholder approval. Q1 FY26 standalone profit after tax rose sharply to Rs 107.83 lakhs vs Rs 52.31 lakhs in Q1 FY25, though total comprehensive income was muted at Rs 47.77 lakhs due to mark-to-market losses on equity investments.
The new CFO appointment and auditor changes are routine governance actions and should be neutral for shareholders. The strong YoY growth in Q1 operating profit is a positive signal, though volatile securities-trading income makes results lumpy. The NCD fundraise proposal, if approved, will expand the NBFC's borrowing capacity and could support business growth but will also add to interest costs.