Ashirwad Capital Limited has scheduled its 40th Annual General Meeting (AGM) for Monday, September 28, 2026, at 12:00 pm. The meeting will be conducted via Video Conferencing or Other Audio Visual Means, with the deemed venue at the company's registered office in Mumbai.

Agenda Items

The primary business to be transacted includes the adoption of the Audited Financial Statements for the financial year ended March 31, 2026, along with the reports of the Board of Directors and Auditors.

Additionally, shareholders will vote on the reappointment of two directors who are retiring by rotation:

• Mr. Aryan Rajesh Poddar (DIN: 08882779)
• Ms. Rhea Dinesh Poddar (DIN: 08729717)

Both directors have offered themselves for reappointment following recommendations from the Nomination and Remuneration Committee and the Board of Directors.

Director Profiles

Mr. Aryan Rajesh Poddar holds a Business Management degree from Northeastern University, Boston. He specializes in marketing and logistics and attended six board meetings during FY25-26. He currently holds directorships in seven other entities, including Swasti Vinayaka Synthetics Limited and Ivy League Fashions Private Limited. He resigned from Swasti Vinayaka Art And Heritage Corporation Limited effective August 18, 2025.

Ms. Rhea Dinesh Poddar holds a Bachelor of Arts in Economics from New York University. Her expertise lies in equity techno-fundamental analysis. She also attended six board meetings during FY25-26 and serves as a director in eight other companies, including Swasti Vinayaka Art And Heritage Corporation Limited.

Voting and Participation

The company will provide remote e-voting facilities through Bigshare Services Private Limited. The voting period runs from September 24, 2026, at 9:00 am to September 27, 2026, at 5:00 pm. Shareholders holding shares as on the cut-off date of September 21, 2026, are eligible to vote.

Individual shareholders with demat accounts can log in via CDSL or NSDL platforms. Other shareholders must use their credentials on the Bigshare i-Vote portal. Proxy attendance is not permitted for this virtual meeting.

Corporate Governance Exemption

Pursuant to Regulation 15(2) of the SEBI Listing Regulations, Ashirwad Capital is exempted from compliance with corporate governance provisions. Consequently, a Corporate Governance Report is not attached to the Annual Report.

Ashirwad Capital Limited reported a 22% year-on-year increase in net profit for the fiscal year ended March 31, 2026, driven by higher revenue from operations and gains on investments.

The Mumbai-based non-banking financial company (NBFC) posted a net profit of ₹104 lakh for FY26, compared to ₹85 lakh in the previous year. Total revenue rose 38% to ₹170 lakh, with revenue from operations reaching ₹145 lakh from ₹103 lakh in FY25.

Financial Performance

The company’s profitability was supported by strong investment returns. Revenue from operations included ₹136 lakh from profit on sale of investments, up significantly from ₹96 lakh in FY25. Other income also grew to ₹25 lakh from ₹20 lakh, primarily due to dividend income rising to ₹23 lakh.

Total expenditure increased to ₹51 lakh from ₹25 lakh, largely due to finance costs rising to ₹29 lakh from ₹8 lakh. Despite the higher expenses, the net profit margin remained robust at 60.91%, though slightly lower than the 68.40% recorded in FY25.

What the Numbers Show

Investment activities remain the core driver of Ashirwad Capital’s earnings. With ₹136 lakh in profits from the sale of investments contributing to a total operating revenue of just ₹145 lakh, the company’s bottom line is heavily dependent on capital markets performance rather than traditional lending or fee-based income. This concentration highlights the volatility inherent in its business model, where market fluctuations directly impact profitability.

Balance Sheet and Reserves

As of March 31, 2026, the company’s total assets stood at ₹2,228 lakh, marginally down from ₹2,238 lakh in the previous year. Non-current investments accounted for the bulk of assets at ₹2,202 lakh. Short-term borrowings increased to ₹297 lakh from ₹277 lakh, secured against investments held by the company.

The board did not recommend a dividend for FY26, citing limited profits. Instead, ₹21 lakh was transferred to the statutory reserve as required under Section 45-IC of the RBI Act, and ₹50 lakh was moved to the general reserve. The debt-equity ratio improved slightly to 0.16 times from 0.14 times.

Corporate Governance

The 40th Annual General Meeting is scheduled for September 28, 2026, to be conducted via video conference. Shareholders will vote on the re-appointment of directors Aryan Rajesh Poddar and Rhea Dinesh Poddar, who retire by rotation. The company has appointed Sanjay Raja Jain & Co. as statutory auditors and Sandeep Dar & Co. for secretarial audit, both of whom issued clean reports without qualifications.