GSL Securities Limited has dispatched physical letters to shareholders who have not registered their email addresses with the company or any depository, providing web-links to access the Integrated Annual Report for FY26 and the Notice for its 32nd Annual General Meeting (AGM). The Mumbai-based non-banking financial company scheduled the AGM for September 7, 2026, at 10:00 a.m. at its registered office in Tardeo, Mumbai. This communication ensures compliance with Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates that members without registered emails receive access to key corporate documents via specified web-links.

The primary agenda for the AGM includes seeking shareholder approval for the reappointment of Santkumar Bagrodia as Managing Director (MD) for a one-year term commencing October 1, 2026. The Board also proposes the reappointment of Shailja Bagrodia as a director by rotation. Remote e-voting for eligible members, defined as those holding shares on August 31, 2026, is open from September 4, 2026, to September 6, 2026. Institutional shareholders are required to submit board resolutions authorizing their representatives to vote via email to the scrutinizer.

Director Reappointment and Remuneration

Based on the recommendation of the Nomination and Remuneration Committee, the Board proposes reappointing Santkumar Bagrodia as Managing Director. His remuneration is capped at ₹9,00,000 per annum in salary, with no commission or perquisites. The tenure is fixed for one year, from October 1, 2026, to September 30, 2027. Mrs. Shailja Bagrodia, who retires by rotation, offers herself for reappointment as a director.

Financial Context and Governance

The audited financial statements for FY26 report a net loss of ₹31.38 lakh, widening from ₹16.46 lakh in FY25. Total income rose to ₹5.59 lakh from ₹1.68 lakh, but expenditure excluding depreciation increased to ₹36.96 lakh from ₹26.05 lakh. Despite the operational loss, the company’s net worth remained stable at ₹975.65 lakh, supported by a significant increase in cash and cash equivalents to ₹382.65 lakh from ₹5.31 lakh in FY25. Total assets grew to ₹992.19 lakh from ₹587.08 lakh.

Shareholder Communication and Compliance

GSL Securities Limited emphasized that members holding shares in physical form should update their KYC details with the Registrar and Transfer Agent, Purva Shareregistry (India) Pvt. Ltd., to avoid withholding of dividends. The Register of Members and Share Transfer Books will remain closed from September 1, 2026, to September 7, 2026. The statutory auditor, V R S K & CO. LLP, confirmed adequate internal financial controls, while Shiv Hari Jalan & Co., Company Secretaries, conducted the secretarial audit, confirming compliance with the Companies Act, 2013, and SEBI regulations.

GSL Securities reported a net loss of ₹8.49 lakh for the quarter ended June 30, 2026 (Q1FY27), widening from a ₹6.98 lakh loss in the corresponding period of FY26. The Mumbai-based financial services firm recorded zero revenue from operations and zero other income during the quarter, while total expenses rose to ₹8.49 lakh from ₹7.68 lakh year-on-year. This deterioration highlights continued operational challenges as the company generates no operating cash flow, relying entirely on capital reserves to meet its obligations.

The Board of Directors approved the unaudited financial statements on July 29, 2026, following a limited review by statutory auditors V R S K & Co. LLP. The results were filed with the stock exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. No provision for income tax was made for the current period, as provisions are calculated at year-end. However, a provision for deferred tax was recognized on timing differences related to depreciation on fixed assets.

Financial Performance Highlights

The company’s total comprehensive income stood at ₹0.71 lakh for Q1FY27, driven by other comprehensive income of ₹9.20 lakh which offset the net operating loss. Employee benefit expenses increased significantly to ₹4.40 lakh from ₹1.12 lakh in the prior year quarter, while other expenses were ₹4.09 lakh compared to ₹6.56 lakh previously. The equity share capital remained at ₹427.51 lakh, and reserves stood at ₹548.86 lakh.

Leadership and Corporate Actions

The Board re-appointed Santkumar Bagrodia as Managing Director for a one-year term effective from October 1, 2026, to September 30, 2027. The appointment is subject to shareholder approval at the upcoming Annual General Meeting (AGM). Mr. Bagrodia, who has been affiliated with the company since March 1994, is the spouse of Non-Executive Director Shailja Bagrodia. The Board confirmed that he is not debarred from holding office by any SEBI order.

AGM Details and Fund Utilization

GSL Securities will hold its Annual General Meeting on Monday, September 7, 2026, at 10:00 a.m. at its registered office in Tardeo, Mumbai. The cut-off date for determining voting eligibility via electronic means is August 31, 2026. The Register of Members and Share Transfer Books will remain closed from September 1, 2026, to September 7, 2026. Shiv Hari Jalan & Co., Practicing Company Secretaries, has been appointed as the Scrutinizer for the e-voting process.

Regarding capital raised through a preferential issue, V R S K & Co. LLP certified that ₹1.31 crore out of an allocated ₹4.25 crore had been utilized by June 30, 2026. Of this, ₹1.03 crore was used for working capital requirements and ₹28.48 lakh for general corporate purposes, leaving a balance of ₹2.94 crore available in bank accounts.