Capital Trust Limited held its 40th Annual General Meeting on September 18, 2026, via video conferencing. The event included remote e-voting for shareholders.

The meeting commenced at 9:00 am and concluded at 9:49 am. Mr. Yogen Khosla, Chairperson of the meeting, presided over the proceedings. Mr. Vinod Raina, CFO, welcomed the members. The company confirmed that the requisite quorum was present to conduct business.

Shareholder Participation

As on the record date of September 11, 2026, the company had 12,973 shareholders. A total of 58 members participated in the meeting through video conference. This included 2 promoters and 56 public shareholders. No shareholders attended in person or through proxy.

Voting Process

The company facilitated remote e-voting in partnership with National Securities Depository Limited (NSDL). Remote voting was open from 9:00 am on September 15, 2026, until 5:00 pm on September 17, 2026. Members who had not voted earlier could cast their votes during the meeting. The e-voting facility remained open for an additional 15 minutes during the AGM.

Mr. Shashank Sharma, Practising Company Secretary, served as the Scrutiniser for the voting process. The Chairperson informed members that consolidated voting results and the Scrutiniser's Report would be submitted to BSE Limited and the National Stock Exchange of India Limited within two working days.

Regulatory Compliance

The meeting was conducted in accordance with the Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and applicable Secretarial Standards. Members raised queries during the session, which were addressed by the Chairperson and CFO. Unresolved queries were directed to the Company Secretary via email.

Capital Trust Limited reported a net profit of ₹0.20 crore for the first quarter of FY27, maintaining profitability for the second consecutive quarter. The non-banking financial company (NBFC) highlighted an acceleration in growth momentum, with total assets under management (AUM) rising 52% quarter-on-quarter to ₹240 crore. This expansion reflects the company’s strategic shift towards secured lending and partnership-led models.

Total disbursements for the quarter stood at ₹111.6 crore, representing a 1.24x increase compared to Q4FY26. This figure exceeded the combined disbursements of Q3FY26 and Q4FY26, which totaled ₹110 crore. The company noted three consecutive quarters of growth in disbursements, moving from ₹19 crore to ₹89 crore and finally to ₹112 crore in the current period.

Business Segment Performance

The growth was driven by two primary engines: gold loans and partner-led MSME lending. Gold loan operations, now considered beyond the pilot stage, are active in six branches with a monthly disbursement run-rate of approximately ₹5 crore. Total gold loan disbursements for Q1FY27 crossed ₹20 crore. Simultaneously, the partner-led MSME segment, leveraging the existing network of over 250 branches, achieved a monthly disbursement run-rate of roughly ₹30 crore.

Risk Profile and Asset Quality

The company’s risk architecture has shifted significantly, with 72% of AUM now classified as secured or zero-credit-risk. This is a substantial improvement from March 2025, when this proportion was 0%, and March 2026, when it stood at 56%. Gross non-performing assets (GNPA) reduced further to 2.7%, while net NPA remains at 0%. The collection efficiency on the portfolio stands at 99.5%.

What the Numbers Show

The divergence between the rapid acceleration in AUM (+52% QoQ) and the modest absolute profit figure (₹0.20 crore) suggests that the current growth phase is heavily focused on asset acquisition and scale rather than immediate earnings conversion. With 72% of the book now secured or zero-credit-risk, the company has effectively decoupled its top-line growth from historical unsecured credit risks, positioning the balance sheet for sustainable leverage.

Strategic Outlook

Capital Trust plans to utilize its low leverage and strong capital adequacy to raise incremental term loans for funding growth, particularly in the gold loan segment. The company has onboarded three on-balance sheet lenders for its gold loan book. Management aims to improve branch productivity and sustain profitability by converting growing AUM and fee income into consistent quarterly earnings.