BYLD Capital Finance reported a net loss of ₹220.61 lakh for the financial year ended March 31, 2026, widening significantly from the ₹44.61 lakh loss recorded in the previous fiscal year. The non-banking financial company (NBFC) generated revenue from operations of ₹5.65 lakh, driven by interest income and fair value gains, while total expenditure surged to ₹262.44 lakh from ₹44.61 lakh in FY25.

Financial Performance

The company’s pre-tax loss expanded to ₹256.79 lakh from ₹44.61 lakh in the prior year. This deterioration was primarily due to a sharp rise in other expenses, which jumped to ₹200.33 lakh from ₹33.56 lakh. A significant portion of this increase stemmed from a provision for non-performing assets (NPA) and expected credit losses (ECL) amounting to ₹101.37 lakh. Employee benefit expenses also rose to ₹52.90 lakh from ₹11.00 lakh, reflecting staffing changes during the year.

Revenue composition included ₹0.81 lakh in interest income and ₹4.84 lakh in net gains on fair value changes. The company incurred interest on loans of ₹8.99 lakh. Despite the operational losses, the net loss after tax was moderated slightly by a deferred tax benefit of ₹36.17 lakh.

Capital Raise and Balance Sheet

During FY26, BYLD Capital Finance completed a rights issue aggregating to ₹1,000.18 lakh in January 2026. This capital infusion increased the paid-up share capital from ₹500.09 lakh to ₹1,500.27 lakh. The proceeds were deployed primarily into liquid mutual funds, resulting in investments rising to ₹826.95 lakh from nil in the previous year. Consequently, cash and cash equivalents stood at ₹146.33 lakh as of March 31, 2026, compared to just ₹0.43 lakh a year earlier.

The company also took on borrowings of ₹127.04 lakh during the year, all from related parties. Total assets grew to ₹1,132.79 lakh from ₹248.15 lakh, while total liabilities increased to ₹152.29 lakh from ₹47.22 lakh. Equity attributable to shareholders rose to ₹980.50 lakh from ₹200.93 lakh, although accumulated losses widened to ₹519.77 lakh from ₹299.16 lakh.

What the Numbers Show

The financial data reveals a stark divergence between capital raising and operational performance. While the rights issue successfully bolstered liquidity and equity base, the core lending business remains under pressure. The provision for NPAs accounted for approximately 50% of the total other expenses, indicating significant credit quality concerns. Furthermore, with revenue from operations at just ₹5.65 lakh against total expenses of ₹262.44 lakh, the company’s current revenue generation is insufficient to cover its operating costs, highlighting the need for the newly raised capital to be effectively deployed into income-generating assets.

Corporate Governance and AGM

The company changed its name from Avasara Finance Limited to BYLD Capital Finance Limited in May 2026. Its 32nd Annual General Meeting is scheduled for September 22, 2026, to be held via video conferencing. Shareholders will vote on the reappointment of Mr. Venkatraman Venkitachalam as a director retiring by rotation, and the appointment of M/s. Ford Rhodes Parks & Co LLP as statutory auditors for a three-year term. M/s Priti J Sheth & Associates will be appointed as secretarial auditors for five years.

BYLD Capital Finance has scheduled its 32nd Annual General Meeting (AGM) for Tuesday, September 22, 2026. The meeting will be held at 12:00 noon through Video Conferencing or Other Audio Visual Means (OAVM). The company also confirmed that the Register of Members and Share Transfer Books will remain closed from Wednesday, September 16, 2026, until Tuesday, September 22, 2026.

The primary agenda includes the consideration and adoption of the audited financial statements for the fiscal year ended March 31, 2026. The Board of Directors also seeks approval for the reappointment of Mr. Venkatraman Venkitachalam as a director.

Auditor and Secretarial Appointments

Shareholders will vote to appoint M/s. Ford Rhodes Parks & Co LLP as the statutory auditor for a three-year term. This appointment covers the period from the conclusion of the current AGM until the conclusion of the 35th AGM in 2029. The firm will replace M/s. P.B. Shetty & Co., whose term expires at this meeting.

Additionally, the company proposes appointing M/s Priti J Sheth & Associates as the secretarial auditor. This five-year term will commence from FY27 and run through FY31, concluding with the 37th AGM in 2031.

Director Reappointment Details

Mr. Venkatraman Venkitachalam retires by rotation and has offered himself for reappointment. He is a qualified Chartered Accountant, Cost Accountant, and Company Secretary. He also holds Level III certification from the Chartered Financial Analyst Institute.

Voting and Participation

The company has engaged Purva Sharegistry (India) Private Limited to facilitate remote e-voting. The voting window opens on Saturday, September 19, 2026, at 9:00 am and closes on Monday, September 21, 2026, at 5:00 pm. Shareholders must hold shares as on the record date of Tuesday, September 15, 2026, to participate.

Members can join the virtual meeting 15 minutes before the scheduled start time. The facility allows up to 1,000 members to attend on a first-come, first-served basis, excluding large shareholders and institutional investors who have unrestricted access.