KBS India shareholders have approved all four resolutions at its 40th Annual General Meeting, including a capital raise via preference shares. The scrutinizer’s report confirms unanimous support from the promoter group and overwhelming backing from public non-institutional investors.

The meeting was held on September 18, 2026, through Video Conferencing / Other Audio-Visual Means. It commenced at 4:30 pm and concluded at 4:46 pm. A total of 15,334 shareholders were on record as of September 11, 2026. Of these, 3 attended via video conferencing (promoters) and 44 (public) participated in the meeting proceedings.

Voting Results Overview

Remote e-voting ran from September 15 to September 17, 2026. Central Depository Services (India) Limited facilitated e-voting during the meeting for those who had not voted remotely. CS Dipali Vora served as the scrutinizer.

Capital Raise Details

The special resolution authorized the issuance of up to 2,50,000 6% Non-Convertible Redeemable Preference Shares with a face value of ₹100 each. The total aggregate amount is ₹2.5 crore. The allotment is made on a preferential basis to Mr. Tushar Shah, the company's promoter, for cash at par.

Governance Updates

Tushar Suresh Shah, Chairman and Managing Director, retires by rotation and offered himself for re-appointment. The ordinary resolution passed this appointment. Other directors present included Namita Shah, Sushmita Swarup Lunkad, and Ashwini Ramakant Gupta.

Shareholder Participation

Promoter and Promoter Group shareholders held 31,131,280 shares and polled 31,120,280 votes (99.96% participation), voting 100% in favour on all items. Public Institutional shareholders held 6,150,344 shares but did not cast any votes. Public Non-Institutional shareholders held 70,930,256 shares and polled 6,787,366 votes (9.57% participation), voting overwhelmingly in favour with over 99.97% support across all resolutions.

KBS India Limited has scheduled its 40th annual general meeting (AGM) for September 18, 2026, to seek shareholder approval for a ₹2.50 crore preferential issue of non-convertible redeemable preference shares (NCRPS). The meeting will also adopt the audited financial statements for FY26, which reported a net profit decline to ₹8.76 lakh.

The company confirmed the record date window via a filing with BSE Limited on August 27, 2026, pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The share transfer books will remain closed from September 12, 2026, to September 18, 2026. The AGM will be held via Video Conferencing or Other Audio Visual Means (VC/OAVM) without physical presence.

Preferential Allotment Details

The board approved the issuance of 2,50,000 units of 6% NCRPS, each with a face value of ₹100. The issue price matches the face value at ₹100 per share. The capital raise aims to meet working capital requirements for new business activities in online retail brokerage, depository participant services, and NSE Future Options Trading. The preference shares are cumulative and redeemable within 10 years from allotment, with a right to apply for redemption after one year.

Financial Performance FY26

For the financial year ended March 31, 2026, KBS India reported total revenue from operations of ₹233.94 lakh, a slight decline from ₹236.74 lakh in FY25. Net profit after tax fell significantly to ₹8.76 lakh from ₹17.66 lakh in the previous year. Other income decreased to ₹107.77 lakh from ₹114.27 lakh. Employee benefit expenses rose to ₹112.13 lakh from ₹92.02 lakh, while other expenses stood at ₹194.36 lakh.

Corporate Actions and Governance

The company appointed M/s. D N Vora & Associates as the scrutinizer for the e-voting process. Remote e-voting will commence on September 15, 2026, and end on September 17, 2026. The cut-off date for determining eligibility is September 11, 2026.

Shareholders will vote on the re-appointment of Managing Director Tushar Suresh Shah, who retires by rotation. Additionally, approvals are sought for related-party transactions including remuneration and rent payments. The Board of Directors comprises Chairman & Managing Director Tushar Suresh Shah, Non-Executive Director Namita Shah, and Independent Directors Sushmita Swarup Lunkad and Ashwini Ramakant Gupta.

Auditor Observations

Statutory auditors M/s. Bhuta Shah & Co. LLP highlighted two key matters in their report. First, gratuity liability was not provided for as required by Ind AS 19, with the impact not quantified due to the absence of an actuarial valuation. Second, a long-term loan of ₹16.65 crore and current account balance of ₹8.02 lakh receivable from erstwhile subsidiary KBS Capital Management Singapore Pte Ltd remain outstanding without provision, pending RBI confirmation for write-off. The auditors noted this results in an overstatement of profit and accumulated reserves.