Enclosed herewith outcome of the Board meeting held on May 28, 2026.
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Mangal Credit and Fincorp Limited, a Base Layer NBFC registered with RBI, held its Board meeting on May 28, 2026 and approved the audited financial results for FY2026 ending March 31, 2026. Total revenue grew 41% year-on-year to ₹6,997 lakh, with net profit rising 17% to ₹1,531 lakh. The company recommended a final dividend of ₹0.75 per share (7.5% on ₹10 face value), subject to shareholder approval at AGM. Key business metrics show strong growth with loans increasing 45% to ₹42,417 lakh, while asset quality remained stable with GNPA at 1.29% and NNPA at 0.78%. The Board also approved issuance of up to 25 lakh fully convertible unlisted equity warrants on preferential basis (promoter holding will increase from 55.25% to ~60% post full conversion). Additionally, the company appointed M/s Anand R. Chandak & Company as internal auditors for FY2026-27. Statutory auditors Bhagwagar Dalal & Doshi issued an unmodified opinion on the financial statements.
Strong operational performance with 17% profit growth and 41% revenue expansion demonstrates the company's ability to scale its NBFC business. The ₹300 crore NCD issuance and proposed warrants issuance indicate aggressive capital raising to fund loan book expansion. Dividend declaration and profit growth are positive signals for shareholders, though the warrant issuance will cause dilution.