Revised Annual Report as per Reg. 34 of SEBI LODR
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Visagar Financial Services has filed the notice for its 32nd AGM to be held on Tuesday, 30 September 2025 at 1:00 PM at Vyanjan Banquet Hall, Andheri (W), Mumbai, along with the Annual Report for FY 2024-25, as required under SEBI LODR Regulations 30 and 34. Revenue dropped sharply to Rs. 12,956.73 lakhs in FY25 from Rs. 33,421.17 lakhs in FY24, a fall of about 61%. The company posted a loss after tax of Rs. 16.07 lakhs, an improvement from Rs. 115.94 lakhs loss in FY24, and declared no dividend for the year. Five resolutions are on the agenda, including approval of material related party transactions of up to Rs. 25 crore per related party with 8 group firms, appointment of M/s. Kirti Sharma & Associates as Secretarial Auditor for five years (FY 2025-26 to 2029-30), regularization of Mr. Vikasjeet Singh as Director, and re-appointment of Mr. Tilokchand Kothari. Remote e-voting opens on 27 September and closes on 29 September 2025, with book closure from 24 to 30 September 2025.
Shareholders should note the steep revenue decline alongside narrowing losses, and will need to vote on significant related party transactions (up to Rs. 25 crore per related party) and director appointments at the upcoming AGM. The related party transactions being sought are with entities where Chairman Tilokchand Kothari holds common directorship and over 2% shareholding, which is worth scrutinising.