India Finsec Limited held its 32nd Annual General Meeting on Tuesday, September 29, 2026, through Video Conference and Other Audio-Visual Means. The meeting commenced at 11:30 am and concluded at 12:07 pm, with members adopting the standalone and consolidated audited financial statements for the fiscal year ended March 31, 2026.

The proceedings were conducted in compliance with the General Circulars issued by the Ministry of Corporate Affairs and SEBI regulations. A requisite quorum was present throughout the session, with 20 members joining the virtual meeting. Ms. Prachi Bansal, Company Secretary, welcomed the attendees, while Mr. Gopal Bansal chaired the meeting. Mr. Manoj Kumar Gupta, Chief Financial Officer, was unable to attend due to prior commitments.

Key resolutions passed

Shareholders voted on four agenda items, including the re-appointment of a director and approvals under the Companies Act, 2013. The resolutions were passed as ordinary or special resolutions as specified in the notice.

Mrs. Sarita Singh of M/s Sarita Singh & Associates served as the Scrutinizer to supervise the remote e-voting and e-voting process. The facility for casting votes remained open for 15 minutes post-conclusion of the meeting for members who had not participated earlier.

Voting and attendance details

The company provided remote e-voting facilities from September 26, 2026, at 9:00 am to September 28, 2026, at 5:00 pm. During the AGM, an additional e-voting window was opened for members who did not cast their votes remotely. No registered speakers were present during the question-and-answer session invited by the Chairman.

The Chairman delivered opening remarks regarding the company's performance in FY26 and outlined the way forward. The video recording of the proceedings has been made available on the company's website for shareholder review.

India Finsec has filed its annual report for the financial year ended March 31, 2026, reporting a significant turnaround in standalone profitability alongside strong group performance. The company surrendered its RBI registration as an NBFC-ICC in July 2025 to operate as an unregistered Core Investment Company (CIC), facilitating the conversion of its subsidiary, IFL Finance Limited, into an NBFC-ICC.

Financial Performance

On a consolidated basis, the group reported total income of ₹86,077.1 lakh for FY26, an increase of 19.68% from ₹71,923.3 lakh in the previous year. Total expenditure rose to ₹56,692.6 lakh from ₹47,941.4 lakh.

The group posted a profit after tax (PAT) of ₹21,665.8 lakh, up from ₹18,128.7 lakh in FY25. This growth was driven by higher interest income and fees, which contributed to a profit before tax of ₹29,384.5 lakh compared to ₹23,981.9 lakh previously.

Standalone results showed a sharp improvement in bottom-line metrics despite lower top-line revenue. Standalone total income fell to ₹410.5 lakh from ₹778.7 lakh, primarily due to the cessation of lending activities at the holding company level. However, standalone PAT surged to ₹37.7 lakh from a mere ₹1.1 lakh in the prior year.

What the Numbers Show

The divergence between standalone and consolidated figures highlights the strategic shift in the group's structure. While the holding company's revenue contracted as it exited direct lending, its profitability improved significantly, suggesting effective cost management or one-time gains. Meanwhile, the consolidated growth indicates that the subsidiary, IFL Finance Limited, is scaling operations effectively under its new NBFC-ICC license. The group's reliance on the subsidiary for revenue generation is now absolute, making the subsidiary's asset quality and funding costs critical to future group performance.

Corporate Developments

The Board of Directors did not recommend any dividend for FY26. The company also sought shareholder approval for related-party transactions with IFL Finance Limited up to ₹200 crore for FY27-28 and enhanced limits for loans and guarantees under Section 186 of the Companies Act, 2013, up to ₹500 crore.

Mr. Gopal Bansal retires by rotation at the upcoming Annual General Meeting scheduled for September 29, 2026, and offers himself for reappointment.