Outcome of Board Meeting held on 14th August 2025
Price
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Awaiting price reaction for this filing.
Star Housing Finance Ltd reported Q1 FY26 results with total income of ₹2,181.25 lakhs, up about 4% from ₹2,095.90 lakhs in Q1 FY25. However, profit before tax fell sharply to ₹177.20 lakhs from ₹390.51 lakhs (down ~55%), and profit after tax declined to ₹138.41 lakhs from ₹301.85 lakhs (down ~54%). The Board recommended a final dividend of ₹0.10 per share for FY25, subject to AGM approval. The Board also approved raising up to ₹50 crore through privately placed secured NCDs, increasing authorized share capital from ₹50 crore to ₹125 crore, and appointed D.M. Zaveri & Co as Secretarial Auditor for 5 years. Two directors resigned — Mr. Kavish Jain (Executive Director, effective Aug 15) and Mr. Chinnathambi Ilango (Independent Director, effective Aug 14) — and Mr. Shakir Sheikh was appointed as Chief Compliance Officer for 3 years.
Sharp PAT decline despite modest revenue growth signals margin pressure and higher finance/impairment costs — a concern for shareholders. The proposed NCD issuance and higher authorized capital point to fundraising plans for business expansion. Director resignations at both executive and independent level warrant attention, though new compliance officer appointment and committee reconstitution may stabilize governance.