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Smart Finsec Ltd, a non-deposit taking NBFC listed on BSE (Scrip Code: 539494), has submitted its Annual Report for FY 2024-25 ahead of its 30th Annual General Meeting scheduled for September 25, 2025, to be held via video conferencing. The company's revenue from operations dropped sharply to Rs. 236.77 lakhs in FY 2024-25 from Rs. 2,507.10 lakhs in FY 2023-24, though profit before tax stood at Rs. 150.08 lakhs versus Rs. 308.75 lakhs, with profit after tax at Rs. 117.39 lakhs against Rs. 236.53 lakhs. The Board has not recommended any dividend and transferred Rs. 23.57 lakhs to the statutory reserve. A key special business item is the re-appointment of Mr. Arun Khera (a promoter and Chartered Accountant) as Managing Director for five years with effect from August 29, 2025, with nil remuneration — this follows the failure of his previous re-appointment resolution at the 29th AGM held in September 2024, which did not receive the requisite majority.
Shareholders should note the steep revenue decline driven by lower trading income due to market volatility, alongside the halved profits. The re-appointment of Mr. Arun Khera as Managing Director is being put to vote again — this time as a Special Resolution with no remuneration — which may signal governance concerns given the prior rejection by shareholders.