Bervin Investments & Leasing Limited held its 36th Annual General Meeting (AGM) on September 28, 2026. The meeting focused on the adoption of audited financial statements for the fiscal year ended March 31, 2026, and the reappointment of a key board member.

The proceedings took place at Nambardar Chaupal in Kapashera, Delhi, starting at 9:00 am. Satish Kumar Murgai served as the Chairman of the meeting. He welcomed members and outlined the guidelines for the session before introducing other dignitaries, including Vivek Manohar Padgaonkar, Chairman of the Audit and Stakeholders Relationship Committee, and Ashok Ogra, Chairman of the Nomination and Remuneration Committee.

Key resolutions passed

The company utilized remote e-voting facilities provided by National Securities Depository Limited (NSDL) alongside physical polling at the venue. The voting period for remote e-voting ran from September 25 to September 27, 2026. A total of 54 members attended the meeting in person, ensuring the requisite quorum was met.

The following ordinary business items were transacted:

Governance and compliance details

The Chairman confirmed that the Notice convening the AGM, the Board Report, and the Financial Statements had been circulated to shareholders prior to the meeting. These documents were taken as read during the session. Importantly, there were no qualifications, adverse remarks, or disclaimers in the Auditors’ Report or the Secretarial Audit Report for FY26, indicating clean statutory compliance.

The results of the voting, encompassing both remote e-voting and physical polls, are scheduled for announcement within the stipulated timeframe. The final outcomes will be displayed on the company’s website and communicated to the stock exchanges where its securities are listed. The meeting concluded at 11:30 am following a vote of thanks proposed by the Company Secretary.

Bervin Investment & Leasing reported a net loss of ₹156.7 crore for the financial year ended March 31, 2026 (FY26), a sharp widening from the ₹9.8 crore loss recorded in FY25.

The company's total income rose marginally to ₹35.2 lakh from ₹29.4 lakh in the previous year. However, expenses surged to ₹160.2 crore, compared to ₹12.7 crore in FY25, primarily due to unrealized capital losses and losses on futures and options.

Financial Performance

The following table highlights the key financial metrics for FY26 against FY25:

Income was derived largely from dividends and interest on fixed deposits. The surge in expenses was driven by ₹85.9 crore in capital losses on shares and ₹65.4 crore in losses on futures and options, as disclosed under other expenses.

What the Numbers Show

The divergence between operating income and total expenses reveals that the reported loss is non-operational in nature. Operating income of ₹35.2 lakh is negligible compared to finance costs of ₹54.3 lakh and employee benefits of ₹18.8 lakh. The vast majority of the ₹156.7 crore loss stems from investment valuation adjustments rather than core business operations, indicating high volatility in the company's asset portfolio.

Balance Sheet Signals

Total assets declined to ₹229.7 crore from ₹401.6 crore in FY25. Investments, carried at fair value through other comprehensive income (FVOCI), dropped to ₹179.1 crore from ₹334.1 crore. Borrowings were reduced significantly to ₹40.8 crore from ₹87.3 crore, suggesting deleveraging amidst the asset write-downs.

Corporate Governance

The company scheduled its 36th Annual General Meeting for September 28, 2026. Ms. Kalpana Umakanth retires by rotation and offers herself for re-appointment. The board noted no material changes affecting the financial position between the fiscal year-end and the report date.