Ceejay Finance Limited has submitted its quarterly confirmation certificate to BSE Limited for the quarter ended March 31, 2026, in compliance with regulatory requirements under SEBI Depositories Regulations.

Regulatory Compliance Submission

The company submitted the confirmation certificate on April 11, 2026, pursuant to Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. The certificate was duly confirmed by MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited), which serves as the company's registrar and share transfer agent.

Registrar Confirmation Details

MUFG Intime India Private Limited provided the confirmation certificate dated April 01, 2026, confirming compliance with dematerialisation procedures during the quarter. The registrar confirmed that securities received from depository participants for dematerialisation were properly processed and confirmed to the depositories within prescribed timelines.

Compliance Confirmations

The registrar's certificate confirms several key compliance aspects:

• Securities received for dematerialisation were confirmed (accepted/rejected) to depositories
• Securities comprised in certificates have been listed on stock exchanges where earlier issued securities are listed
• Security certificates received were mutilated and cancelled after due verification by depository participants
• Names of depositories were substituted in the register of members as registered owners within prescribed timelines

Corporate Information

The submission was signed by Kamlesh Upadhyaya, Company Secretary and Compliance Officer of Ceejay Finance Limited. The company's registered office is located at C J House, Mota Pore, Nadiad, Kheda, with corporate office at Iconic Shyamal, Ahmedabad. MUFG Intime India Private Limited, registered with SEBI under registration number INR000004058, operates from its registered address at C-101, Embassy 247, L.B.S. Marg, Vikhroli (West), Mumbai.

Ceejay Finance Limited has received a rating reaffirmation from CARE Ratings Limited, maintaining its 'CARE BBB-; Stable / CARE A3' rating for bank facilities worth ₹15.00 crore. The rating agency cited the company's continuous funding support from Ceejay Group entities and secured lending practices as key strengths, while noting constraints from modest operational scale and geographical concentration.

Rating Rationale and Key Drivers

CARE Ratings based its reaffirmation on several positive factors including the company's secured nature of lending, healthy capital adequacy ratio, comfortable overall gearing, and adequate liquidity. The rating agency highlighted the diversified business interests of the Ceejay Group across tobacco, real estate, and finance sectors as providing stability to the financing operations.

However, the ratings remain constrained by the company's modest scale of operations, moderate asset quality, and significant product and geographical concentrations. The loan portfolio primarily consists of two-wheeler loans extended mostly in the Gujarat region, creating concentration risks.

Financial Performance and Capital Position

Ceejay Finance maintains robust capitalisation levels with a capital adequacy ratio of 63.59% as of H1FY26, significantly above the regulatory minimum requirement of 15.00%. The company's overall gearing stood at 0.56x during the same period, with gearing from external debt at just 0.14x, indicating low reliance on external borrowings.

The company benefits from continuous funding support from group entities through unsecured loans at relatively lower interest rates of 9.00%. Internal borrowings from group companies accounted for approximately 75% of total borrowings as of H1FY26, resulting in a healthy net interest margin of 19.47% in FY25.

Operational Scale and Geographic Presence

Ceejay Finance operates with a modest scale, maintaining assets under management of ₹117.03 crore as of September 30, 2025. The company has expanded its distribution network to 41 branches from 32 branches as of March 31, 2024, with a borrower base of 26,215 customers as of September 30, 2025.

The business remains highly concentrated geographically, with Gujarat accounting for approximately 95% of the AUM and Maharashtra contributing around 5%. This concentration exposes the company to region-specific economic or credit shocks, representing a key rating constraint.

Asset Quality and Risk Profile

The company's asset quality showed improvement with gross non-performing assets declining to 4.94% as of September 30, 2025, from 5.11% in FY25. On a 90+ days past due basis, the GNPA significantly dropped to 4.94% as of September 30, 2025, from 10.54% in FY25.

Ceejay Finance primarily extends financing to farmers, agricultural labourers, and small traders, representing a relatively riskier borrower segment. However, a significant portion of the loan portfolio is secured through vehicle hypothecation and property mortgages, providing comfort in the lending business.

Rating Sensitivities and Outlook

CARE Ratings maintains a stable outlook, believing that Ceejay Finance will continue receiving funding support from the Ceejay group while maintaining healthy profitability and comfortable capitalisation levels. Positive rating actions could result from substantial increase in operational scale with geographical diversification and improvement in asset quality with GNPA falling below 4.00% on a sustained basis.

Negative factors that could lead to rating downgrades include degrowth in operations impacting profitability, changes in group support philosophy, rise in gearing above 1.50x, or deterioration in asset quality with GNPA remaining above 7.50% on a sustained basis.

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