The outcome of the meeting of the Board of Directors held on Thursday 14th August 2025, at 10:30 a.m. The meeting commenced at 10:30 a.m. The meeting concluded at 3:15 p.m.
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The board approved unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). Total income jumped 93% year-on-year to ₹1,849.51 lakhs, driven by strong interest income and higher disbursements. Profit after tax surged to ₹122.68 lakhs from just ₹7.60 lakhs in the year-ago quarter, while EBITDA nearly doubled to ₹931 lakhs. Assets under management grew 81% to ₹29,046 lakhs. The board also approved two preferential equity allotments totalling about ₹70.19 crore (at ₹30.50 per share): ₹40.02 crore to a single co-operative society for consideration other than cash, and ₹30.17 crore spread across 108 allottees. It further cleared plans to seek shareholder approval to raise borrowing limits from ₹600 crore to ₹1,000 crore and to issue up to ₹500 crore each in unsecured subordinated debts and non-convertible debentures. The 39th AGM was scheduled and a postal ballot process was initiated, with the auditor (G. Joseph & Associates) issuing a clean limited review report.
Strong Q1 performance shows the NBFC is scaling well, with both top-line and bottom-line growth significantly outpacing peers. Existing shareholders will see equity dilution once the two preferential allotments (~2.30 crore shares) are completed, subject to postal ballot approval, while the higher borrowing limit signals aggressive growth plans ahead.