Banas Finance Limited has announced the resignation of its Chief Financial Officer, Amit Mehta, effective from the close of business hours on March 31, 2026. The company disclosed this key managerial personnel change to the Bombay Stock Exchange on March 17, 2026, in compliance with regulatory requirements.

Resignation Details

The resignation was formally communicated through a disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mehta submitted his resignation letter on March 16, 2026, citing personal reasons for his departure from the financial services company.

Regulatory Compliance

Banas Finance Limited ensured full compliance with SEBI regulations by providing comprehensive disclosure documentation. The company submitted the required information under Regulation 30 read with Para A(7B) of Part A of Schedule III of SEBI Listing Regulations, 2015, and SEBI Master Circular bearing Reference Number SEBI/HO/CFD/POD2/CIR/P/0155 dated November 11, 2024.

The disclosure was signed by Tanu Giriraj Agarwal, Director and CEO of Banas Finance Limited, who confirmed that the CFO has stated there are no other material reasons for the resignation beyond those mentioned in his resignation letter.

Company Information

Banas Finance Limited, incorporated under CIN L65910MH1983PLC030142, operates from its registered office at E/109, Crystal Plaza, New Link Road, Andheri (W), Mumbai. The company's scrip is listed on the Bombay Stock Exchange with the code 509053 under the symbol BANASFN.

The resignation represents a significant change in the company's key managerial personnel structure as it transitions to identify a suitable replacement for the CFO position.

Banas Finance Limited announced its unaudited standalone and consolidated financial results for the third quarter ended December 31, 2025, following a board meeting held on February 10, 2026. The company reported a significant net loss, primarily driven by substantial fair value losses on investments.

Financial Performance Overview

The company's financial performance for Q3 FY26 showed a marked deterioration compared to the previous year. The following table summarizes the key financial metrics:

Revenue Analysis

Total income for Q3 FY26 stood at ₹1,554.757 lakhs, representing a significant decline from ₹3,064.594 lakhs in Q3 FY24. Revenue from operations decreased to ₹1,295.339 lakhs from ₹3,057.108 lakhs in the corresponding quarter of the previous year. The major revenue components included:

• Sale of shares & securities: ₹1,204.525 lakhs
• Interest income from loans: ₹17.968 lakhs
• Income from future & options: ₹60.140 lakhs
• Other income totaled ₹259.419 lakhs, including net gain on sale of investment of ₹172.060 lakhs

Major Loss Drivers

The company's substantial loss was primarily attributed to net loss on fair value changes on investments, which amounted to ₹3,927.654 lakhs in Q3 FY26. This represents a significant negative swing from the net gain of ₹596.861 lakhs recorded in Q3 FY24. Total expenses reached ₹5,604.744 lakhs compared to ₹3,110.178 lakhs in the previous year's corresponding quarter.

Business Segments

Banas Finance operates in two primary business segments:

Consolidated Results

The consolidated financial results, which include the company's associate Tilak Ventures Limited (48.84% holding), showed a net loss of ₹4,041.512 lakhs for Q3 FY26. The share of profit from associates and joint ventures was ₹8.474 lakhs, providing some offset to the standalone losses. Consolidated basic earnings per share stood at ₹(4.539) compared to ₹(0.040) in Q3 FY24.

Nine-Month Performance

For the nine months ended December 31, 2025, the company reported a net loss of ₹2,161.319 lakhs on standalone basis and ₹1,869.283 lakhs on consolidated basis. Total income for the nine-month period was ₹3,847.925 lakhs compared to ₹3,924.913 lakhs in the corresponding period of the previous year.

Capital Structure

The company maintains a paid-up equity share capital of ₹8,957.767 lakhs, consisting of 8,95,77,673 shares of ₹10 each. The face value of equity shares remains at ₹10.000 per share. The board meeting was conducted at the company's registered office in Mumbai, with all financial results prepared in accordance with Indian Accounting Standards and SEBI regulations.