Annual Report
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Milgrey Finance & Investments Limited has filed its 42nd Annual Report along with the notice for the AGM to be held on September 30, 2025. Revenue from operations and other income jumped sharply to Rs. 94,281 (thousands) in FY 2024-25 from Rs. 32,335 in FY 2023-24, while expenses fell to Rs. 27,113 from Rs. 30,577. Profit after tax rose to Rs. 63,418 from Rs. 1,758 in the previous year. The Board has not recommended any dividend, citing losses. Key business items at the AGM include reappointment of M/s K S SUBRAHMANYAM & CO as statutory auditors for 5 years, appointment of Mr. Nirmal Lunkar as Managing Director for 5 years, appointment of Ms. Kinjal Vora as Independent Director, and a proposal to raise funds up to Rs. 100 Crore through equity, preference shares, debentures, or rights/private placement.
The strong revenue and PAT growth is a positive signal, though the simultaneous mention of losses and denial of dividend suggests inconsistencies in reported numbers worth scrutiny. The proposed Rs. 100 Crore fund raise could lead to equity dilution depending on the instrument and pricing chosen. Shareholders should review the financial statements carefully and vote on the fund-raising resolution at the AGM.