Abans Financial Services Limited announced the outcome of its Board of Directors meeting held on May 15, 2026. The board approved several governance decisions, including key leadership appointments, a change in the registered office, and an internal re-organisation of senior management roles. The meeting commenced at 09:00 P.M. (IST) and concluded at 09:45 P.M. (IST).

Key Leadership Appointments

The board approved significant personnel changes to reshape the company's senior leadership structure. The following table summarises the key appointments made at the meeting:

Mr. Karan Heda's appointment as Additional Director in the capacity of Non-Executive Director is subject to shareholder approval. He is a qualified Chartered Accountant with over 12 years of experience in financial accounting, treasury, risk management, and regulatory compliance. He has been serving as Vice President – Accounts & Treasury at ABANS Group. Consequent to this appointment, he shall cease to be part of the Senior Management Personnel of the company.

New Chief Financial Officer Profile

Mr. Raghunathan Mudaliar has been appointed as Chief Financial Officer (Key Managerial Personnel) with effect from May 16, 2026, on a full-time employment basis. Mr. Mudaliar is a qualified Chartered Accountant certified by the Institute of Chartered Accountants of India (ICAI) and holds Master of Commerce and Bachelor of Commerce degrees from the University of Mumbai. He brings over seven years of professional experience across NBFCs, capital markets, real estate, and the education sector, with expertise in financial reporting, strategic financial management, and regulatory compliances including SEBI and RBI regulations. He was previously associated with Abans Finance Private Limited as Chief Financial Officer, and prior to that with GeeCee Ventures Limited and BSE Institute Limited in finance and accounts roles.

This appointment follows the resignation of Mr. Nirbhay Vassa, who was relieved of his duties as Whole-Time Director & Chief Financial Officer via resignation letter dated April 13, 2026, with effect from the closure of business hours on May 15, 2026. Mr. Mudaliar has been designated as the Key Managerial Personnel under Regulation 30(5) of the SEBI LODR Regulations.

Revised Key Managerial Personnel

The revised list of Key Managerial Personnel authorised by the Board of Directors with effect from May 16, 2026, is as follows:

Internal Auditor Appointment and Registered Office Change

The board approved the appointment of M/s. V C Shah & Co., Chartered Accountants (Firm Registration No.: 109818W) as Internal Auditors for financial year 2026-27. The firm was established in 1969 and offers audit and assurance, consultancy, and advisory services across sectors including banking, broking, finance companies, manufacturing, IT, and real estate. Additionally, the board approved a change in the company's registered office within the same city, as detailed below:

Senior Management Re-organisation and New Appointments

The board approved an internal re-organisation of roles and responsibilities of certain Senior Management Personnel, effective May 15, 2026. The re-organisation resulted in changes in the reporting structure of Mr. Mahesh Kumar Chervuveedu (Head, Banking Services), Mr. Ketur Shah (Head, Investment Banking), Mr. Bhavesh Suthar (Assistant Vice President, Indirect Tax), and Mr. Jignesh Shah (Assistant Vice President, Accounts). The board clarified that these changes did not arise on account of resignation, termination, or cessation of employment.

Additionally, the board approved the appointment of two new Senior Management Personnel, both effective May 15, 2026, on a full-time employment basis:

The trading window for dealing in the company's securities shall remain closed until 48 hours from the announcement dated May 15, 2026.

Abans Financial Services Limited (formerly known as Abans Holdings Limited) has approved its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a Board of Directors meeting held on Friday, May 15, 2026, pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting commenced at 09:00 P.M. (IST) and concluded at 09:45 P.M. (IST). The results were audited by M/s. C N K & Associates LLP, Chartered Accountants, who issued an unmodified opinion on both the standalone and consolidated financial results.

Board Meeting and Compliance

The audited financial results, along with the Audit Reports, Statement of Assets and Liabilities, and Cash Flow Statement, were reviewed and recommended by the Audit Committee before being approved by the Board. The declaration of unmodified audit opinion was signed by Abhishek Bansal, Chairman & Managing Director (DIN: 01445730). The intimation was also signed by Bhargavi Halapeti, Company Secretary and Compliance Officer (Membership No.: ACS 23955). The trading window for dealing in the company's securities shall remain closed until 48 hours from this announcement, as communicated to all designated persons.

Standalone Financial Performance

On a standalone basis, Abans Financial Services reported the following key financial metrics for the quarter and year ended March 31, 2026 (figures in Rs. lakhs, except per share data):

The standalone total assets stood at Rs. 17,207.23 lakhs as on March 31, 2026, compared to Rs. 15,517.77 lakhs as on March 31, 2025. Total equity increased to Rs. 17,110.81 lakhs from Rs. 15,481.13 lakhs. Net cash from operating activities for the year was Rs. 3,252.76 lakhs, while cash and cash equivalents at the end of the period stood at Rs. 306.83 lakhs.

Key Standalone Notes

During the year ended March 31, 2026, the company allotted 82,667 equity shares (face value of Rs. 2/- each) pursuant to the exercise of options under the Employee Stock Option Scheme. The company's GIFT CITY IFSC branch commenced operations as a fund management entity (FME), and the profit of such branch is allowed as a deduction under Section 80LA of the Income Tax Act, 1961. Accordingly, the current tax of Rs. 2.00 lakhs for the year represents a short provision for tax of an earlier year.

Consolidated Financial Performance

On a consolidated basis, the group reported significantly higher revenues, reflecting the scale of its subsidiaries. The following table summarises the consolidated financial results (figures in Rs. lakhs, except per share data):

Consolidated total assets stood at Rs. 2,90,710.43 lakhs as on March 31, 2026, compared to Rs. 3,05,982.88 lakhs as on March 31, 2025. Total equity (including non-controlling interest) increased to Rs. 1,35,166.21 lakhs from Rs. 1,16,459.44 lakhs. Net cash from operating activities for the year was Rs. 50,518.17 lakhs, and cash and cash equivalents at the end of the period stood at Rs. 33,262.95 lakhs.

Consolidated Segment Performance

The group operates across three principal segments. The segment-wise revenue and results for the year ended March 31, 2026 are as follows (Rs. in lakhs):

Key Consolidated Notes

As on March 31, 2026, the company has fourteen subsidiaries (including step-down subsidiaries). On August 6, 2025, the Board of Directors of Abans Broking Services Private Limited approved a scheme of arrangement for merger, wherein Abans Capital Private Limited, Abans Securities Private Limited, Abans Commodities (I) Private Limited, and Clamant Broking Services Private Limited will merge with Abans Broking Services Private Limited. As on March 31, 2026, the scheme has been approved by the Stock Exchanges, and the company is in the process of making appropriate applications before the Hon'ble National Company Law Tribunal. The other expenses for the year ended March 31, 2026 include a net fair value loss of Rs. 4,796.45 lakhs, with other expenses excluding this loss amounting to Rs. 6,221.64 lakhs.

Auditor and Regulatory Details

The audit was conducted by M/s. C N K & Associates LLP (Firm Registration No. 101961 W/W100036), with Pankaj Tiwari (Partner, Membership No. 153110) signing the standalone audit report and the consolidated audit report, both dated May 15, 2026, from Mumbai. The consolidated financial results include audited financial statements of six subsidiaries with total assets of Rs. 2,44,578.71 lakhs and total revenue of Rs. 4,84,324.19 lakhs (before consolidation adjustments), audited by their respective independent auditors, as well as eight subsidiaries with total assets of Rs. 93,713.95 lakhs and total revenue of Rs. 21,98,750.09 lakhs (before consolidation adjustments), audited by CNK & Associates LLP. The company's registered office is located at 36, 37, 38A, Floor-3, Nariman Bhavan, Backbay Reclamation, Nariman Point, Mumbai – 400021. Further information is available on the company's official website at www.abansfinserv.com .