We wish to inform you that following resolutions approved: 1. The Unaudited Financial Results and limited review report of the Company for the quarter ended June 30, 2025. 2. The resignation ....
Awaiting price reaction for this filing.
Minolta Finance's board, meeting on August 12, 2025, approved Q1 FY26 (quarter ended June 30, 2025) unaudited results showing total income of ₹206.35 lakhs (vs ₹22.56 lakhs in Q1 FY25) and net profit of ₹14.65 lakhs (vs ₹1.31 lakhs), though profit was aided by a one-time tax adjustment of ₹14.82 lakhs from earlier years; pre-tax result was marginally negative at ₹(0.23) lakhs. The board accepted the resignation of Managing Director Mr. Dinesh Kumar Patnia and appointed director Mr. Arvind Jethalal Gala as Non-Executive Chairman, subject to shareholder approval. All three auditors were rotated out: statutory auditor Khandelwal Prem & Associates was replaced by JCR & Co. LLP, internal auditor replaced by TRS & Co., and secretarial auditor replaced by Amruta Giradkar & Associates, all for fresh 5-year terms. The company also plans to shift its registered office from West Bengal to Maharashtra, introduce an ESOP scheme, and enter related party transactions up to ₹100 crore in FY26, all pending shareholder approval.
Heavy churn at the top — the Managing Director's exit alongside a wholesale change of statutory, internal, and secretarial auditors signals significant leadership transition that investors should monitor for continuity. The sharp jump in interest income suggests business growth, but bottom-line improvement was mostly tax-driven rather than operational, so the core profitability picture remains weak.