Goyal Associates Limited's board of directors, at its meeting held on October 3, 2026, approved a significant increase in the company's authorised share capital and convened the 32nd Annual General Meeting for October 24, 2026.

Capital restructuring approved

The board approved an increase in authorised share capital from Rs.6,40,00,000/- (Six crore Forty Lakhs) divided into 6,40,00,000 equity shares of Rs.1/- each, to Rs.80,00,00,000/- (Eighty crore) divided into 80,00,00,000 equity shares of Rs.1/- each. The proposal will be placed before shareholders as an ordinary resolution at the ensuing AGM, along with a consequential amendment to Clause V of the Memorandum of Association.

32nd AGM scheduled for October 24, 2026

The board approved the notice convening the 32nd Annual General Meeting, to be held through Video Conferencing / Other Audio-Visual Means on Saturday, October 24, 2026 at 1:00 pm. The register of members and share transfer books will remain closed from October 18, 2026 to October 24, 2026 (both days inclusive). The cut-off date for determining voting rights is October 17, 2026.

Remote e-voting will commence at 9:00 am on October 21, 2026 and close at 5:00 pm on October 23, 2026. Central Depository Services Limited (CDSL) has been engaged as the e-voting service provider.

AGM agenda: key resolutions

The AGM will transact the following business:

Ordinary business:

• Adoption of audited financial statements for the financial year ended March 31, 2026
• Re-appointment of Mr. Vuppala Naga Malleswara Rao (DIN: 08858080), who retires by rotation

Special business:

• Shifting of registered office from 401, Phoenix Complex, Waghodia Road, Vadodara-390019, Gujarat to D-909, Titanium City Centre, Near Sachin Tower, Satellite, Ahmedabad, Gujarat - 380015, within the State of Gujarat
• Appointment of Mr. Ajay Solanki (DIN: 11930681) as Director and Managing Director for a period of 5 years with effect from September 8, 2026
• Appointment of Mr. Ankush Madan Pandey (DIN: 11855729) as Non-Executive Independent Director for a term of 5 consecutive years commencing September 8, 2026 up to and including September 7, 2031
• Increase in authorised share capital and amendment of the Memorandum of Association

Scrutinizer appointed

The board appointed M/s. Ankur Gandhi & Associates, Practising Company Secretaries (Membership No. A48016, Certificate of Practice No. 17543), as scrutinizer to conduct the remote e-voting process and voting at the AGM in a fair and transparent manner.

FY26 financial performance

Goyal Associates, an RBI-registered Non-Banking Financial Company, reported a loss after tax of ₹(2.97) million for FY 2025-26, compared with a profit after tax of ₹8.63 million in FY 2024-25. Total income declined to ₹12.95 million from ₹27.46 million in the previous year, primarily due to a sharp fall in processing fees and other charges from ₹19.52 million to ₹0.05 million. Interest income on loans, however, rose to ₹12.33 million from ₹6.74 million in FY 2024-25.

The board has not recommended any dividend for FY 2025-26. The board meeting commenced at 6:00 pm and concluded at 6:55 pm on October 3, 2026. The notice was signed by Ajay Solanki, Managing Director (DIN: 11930681), at Hyderabad on October 3, 2026.

Goyal Associates appointed Mr. Ajay Solanki as managing director and Mr. Ankush Pandey as additional independent director on September 8, 2026.

The board of directors approved these appointments during a meeting held at the company’s corporate office. The resolutions require approval from the company’s members.

Board Approvals

The board considered and approved the following matters pursuant to the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:

• Appointment of Mr. Anjay Solanki (DIN: 11930681) as an additional director effective September 8, 2026.
• Appointment of Mr. Ajay Solanki (DIN: 11930681) as managing director effective September 8, 2026.
• Appointment of Mr. Ankush Pandey (DIN: 11855729) as an additional independent director.

Director Profiles

Mr. Solanki brings experience in the banking sector, particularly in direct selling agent products and customer acquisition. Mr. Pandey possesses expertise in corporate laws, secretarial standards, and regulatory compliance.

Both directors hold no shares in the company and have no pecuniary relationships with the entity or its managerial personnel. The company confirmed that neither director has been debarred from holding office by SEBI or any other authority.