KBS India concluded its 40th Annual General Meeting on September 18, 2026. The meeting transacted four key resolutions, including a capital raise via preference shares and the reappointment of the Managing Director.

The event was conducted through Video Conferencing / Other Audio-Visual Means in compliance with Ministry of Corporate Affairs circulars. It commenced at 4:30 pm and ended at 4:46 pm. A total of 45 members attended to meet the quorum requirement.

Key Resolutions Passed

The shareholders approved the following agenda items:

Capital Raise Details

The special resolution authorized the issuance of up to 2,50,000 6% Non-Convertible Redeemable Preference Shares. Each share has a face value of ₹100. 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.

Voting Process

Remote e-voting ran from September 15 to September 17, 2026. Members who did not vote remotely could do so during the meeting via Central Depository Services (India) Limited. CS Dipali Vora served as the scrutinizer for the electronic voting process.

The consolidated voting results will be declared within two working days. They will be displayed at the registered office in Mumbai and on the company’s website.

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.