Aastamangalam Finance Limited held its 41st Annual General Meeting on September 25, 2026, through Video Conferencing. The meeting focused on adopting financial statements for the fiscal year ended March 31, 2026, and appointing new statutory auditors.

The proceedings commenced at 3:10 pm and concluded at 3:28 pm. Chairman Bharat Dughar confirmed the presence of the requisite quorum. Director Bhavika Jain briefed members on financial highlights, noting that the Statutory Auditors made no remarks in their report. Observations by Secretarial Auditors were disclosed in the annual report.

Resolutions passed

The following ordinary businesses were transacted at the meeting:

Bhavika M Jain (DIN: 07704015) retired by rotation and was eligible for reappointment. The company proposed the appointment of Chartered Accountant firm Venkat and Rangaa LLP (FRN: 004597s) as the new statutory auditors.

Voting process

The company extended e-voting facilities pursuant to Section 108 of the Companies Act, 2013. Remote e-voting commenced on September 21, 2026, and concluded on September 24, 2026. Balu Sridhar, Practicing Company Secretary, served as the scrutinizer for both remote and on-meeting e-voting. Results are scheduled for announcement within 48 hours of the meeting's conclusion.

Aastamangalam Finance reported a 14% year-on-year rise in net profit to ₹944.31 lakh for the financial year ended March 31, 2026. The Chennai-based NBFC posted total income of ₹1,717.65 lakh, up from ₹1,549.62 lakh in FY25.

The company's Board of Directors did not recommend any dividend for the year, opting instead to transfer ₹188.86 lakh to the Statutory Reserve as per RBI guidelines. The firm also spent ₹12 lakh on Corporate Social Responsibility (CSR) activities, exceeding its obligation of ₹11.47 lakh.

Financial Performance

Interest income, the primary revenue driver, grew to ₹1,716.42 lakh from ₹1,527.13 lakh in the previous year. This growth outpaced the rise in finance costs, which stood at ₹400.21 lakh compared to ₹226.13 lakh in FY25.

Profit before tax and exceptional items rose to ₹1,273.90 lakh from ₹1,048.38 lakh. The improvement was supported by a reversal in statutory provisions on loan assets, which reduced to a credit of ₹35.55 lakh against a debit of ₹171.49 lakh in FY25.

Balance Sheet & Assets

Total assets expanded to ₹13,888 lakh from ₹12,166 lakh in FY25. The loan book contracted slightly to ₹11,562 lakh from ₹11,887 lakh, with all loans classified as repayable on demand. Cash and cash equivalents surged significantly to ₹2,237 lakh from ₹273 lakh, bolstered by strong operating cash flows.

Borrowings increased to ₹5,045 lakh from ₹4,445 lakh, primarily driven by higher inter-corporate deposits. The debt-equity ratio remained stable at 0.60.

What the Numbers Show

The divergence between revenue growth and expense management highlights improved operational efficiency. While finance costs nearly doubled due to increased borrowings, other expenses fell sharply from ₹88.16 lakh to ₹56.80 lakh. This cost discipline, combined with the reversal of loan asset provisions, allowed net margins to expand to 54.98% from 53.41% in the previous year.

Corporate Governance

The company’s Annual General Meeting is scheduled for September 25, 2026, to be held via video conferencing. Ms. Bhavika M Jain retires by rotation and offers herself for re-appointment. The Board also recommends the re-appointment of M/s. Venkat and Rangaa LLP as Statutory Auditors for a five-year term until FY31.

Independent Director Mr. Jadav Chand Jain Akash Jain ceased to be a director following his demise in July 2026. The Secretarial Audit report noted minor observations regarding the implementation of SDD software and timely filing of RBI returns, which management stated it is addressing.