Jindal Capital Limited has submitted the consolidated voting results and the scrutinizer's report for its 32nd Annual General Meeting (AGM) held on September 30, 2026. The filing confirms that all six resolutions proposed at the meeting were approved by shareholders with the requisite majority.

The submission, made to BSE Limited on October 1, 2026, under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, details the outcome of remote e-voting and physical ballot votes cast by members.

Voting outcomes on key resolutions

The most significant approval was a special resolution authorizing the Board of Directors to borrow funds up to ₹500 crore under Section 180(1)(c) of the Companies Act, 2013. This resolution received 5,157,038 valid votes in favor against 131 votes against, resulting in a support rate of 99.9975%.

Shareholders also adopted the audited financial statements for FY26. This ordinary resolution passed with 5,157,038 votes in favor and 131 votes against.

Director re-appointments and regularization

The meeting regularized the appointment of Nischal Mittal as an Independent Director. His appointment received 5,157,038 votes in favor and 131 votes against. Additionally, Sadhu Ram Aggarwal was re-appointed as a Director retiring by rotation. For this resolution, 4,456,922 votes were cast in favor, while 131 were against. Notably, 700,116 votes from the promoter group were marked invalid for this specific resolution due to interest in the agenda item.

Remuneration approvals

Special resolutions regarding managerial remuneration limits for key executives were also passed. The limit for Sadhu Ram Aggarwal, Chairman-cum-Managing Director, was approved with 4,456,922 votes in favor. The limit for Divya Aggarwal, Executive Director and CFO, received 4,557,038 votes in favor. In both cases, promoter group shares were excluded from voting where they had an interest, leading to lower total valid votes compared to non-related party resolutions.

Meeting proceedings and compliance

The AGM commenced at 11:00 am and concluded at 12:25 pm at the company's registered office in Delhi. A quorum of 47 members was present throughout the proceedings. Remote e-voting facilities were provided via NSDL from September 26 to September 29, 2026. Jaivindra Singh of M/s. Jaivindra Singh & Associates served as the Scrutinizer for the voting process. The results have been uploaded to the company website and stock exchange portals in compliance with SEBI regulations.

Jindal Capital Limited has scheduled its 32nd Annual General Meeting (AGM) for September 30, 2026, at its registered office in Delhi. The company will offer remote e-voting via NSDL from September 26 to September 29, 2026. Shareholders will vote on a proposed ₹500 crore borrowing limit and executive remuneration hikes.

The share transfer books will remain closed from September 24 to September 30, 2026. Members holding shares as of the cut-off date, September 23, 2026, are eligible to vote. The company has appointed M/s. Jaiwindra Singh & Associates as the scrutinizer for the voting process.

Financial Performance Overview

For FY26, Jindal Capital reported a total revenue of ₹430.15 lakh, an increase from ₹388.70 lakh in the prior year. Net profit after tax stood at ₹113.00 lakh, down from ₹116.97 lakh in FY25. The decline in net profit occurred despite revenue growth, driven by higher finance costs and employee benefits.

Interest income rose significantly to ₹372.95 lakh from ₹289.57 lakh, reflecting growth in the loan book. However, finance costs increased to ₹103.67 lakh from ₹65.63 lakh, impacting the bottom line. The company did not recommend any dividend for the year.

What the Numbers Show

The divergence between rising interest income and expanding finance costs highlights the cost of funding the accelerated loan growth. While interest income grew by approximately 29%, finance costs surged by nearly 58%. This suggests that the marginal cost of new borrowings may be higher than the yield on new loans, or that the mix of funding has shifted toward more expensive sources. Additionally, employee benefits rose to ₹103.09 lakh from ₹83.23 lakh, contributing further to the pressure on net profits despite higher top-line growth.

Governance and Remuneration Changes

The Board proposes increasing the monthly managerial remuneration for Chairman-cum-Managing Director Sadhu Ram Aggarwal and Executive Director & CFO Divya Aggarwal from ₹1 lakh to ₹2 lakh each, effective October 1, 2026. Both directors are related parties; Sadhu Ram Aggarwal is the father-in-law of Divya Aggarwal.

The notice also includes the regularization of Mr. Nischal Mittal as an Independent Director, effective August 12, 2026, for a five-year term. Mr. Subhash Kumar Changoiwala resigned as an Independent Director in August 2026.

Capital Structure and Liquidity

Total borrowings increased to ₹1,424.30 lakh from ₹776.20 lakh as of March 31, 2025. Cash and cash equivalents dropped sharply to ₹23.67 lakh from ₹281.72 lakh, indicating significant deployment of funds into loans or other uses during the year. The authorized share capital was increased to ₹22 crore during the year.