Magnanimous Trade & Finance Limited held its Annual General Meeting on September 30, 2026, in Jaipur, where shareholders adopted the financial statements for FY26. The meeting also saw the re-appointment of the Managing Director and the regularization of two independent directors.

Key resolutions passed

The Board of Directors presented several ordinary and special business items for shareholder approval during the session, which commenced at 11:00 am and concluded at 11:40 am. The primary agenda included the adoption of annual accounts and governance updates.

Governance and leadership updates

Mr. Kurjibhai Premjibhai Rupareliya, who served as the Chairperson for the meeting, was re-appointed as a Director under an Ordinary Resolution. He had retired by rotation and offered himself for re-appointment, being eligible to continue in the role.

In a move to strengthen the board's compliance framework, the company appointed M/s Pooja M Patel & Associates as its Secretarial Auditor through an Ordinary Resolution. This appointment ensures ongoing adherence to statutory secretarial standards.

Independent director regularizations

Two Special Resolutions were passed to regularize the status of Mr. Darvin Maheshbhai Kiyada and Mr. Rushi Arvindbhai Savaliya as Independent Directors. These appointments align with corporate governance norms requiring independent oversight on the board.

Voting and procedural details

The company facilitated electronic voting from September 27, 2026, at 9:00 am to September 29, 2026, at 5:00 pm. Additionally, ballot voting was conducted by members present at the AGM. The results of these votes are scheduled to be published on the BSE Limited website within two working days of the meeting's conclusion.

Magnanimous Trade & Finance reported an 83% year-on-year decline in net profit for FY26, driven by a sharp contraction in revenue from operations. The company has scheduled its 41st Annual General Meeting for September 30, 2026, to adopt the financial statements and regularize independent directors.

The Board of Directors approved the date during its meeting held on August 31, 2026. M/s Pooja M Patel & Associates was appointed as the scrutinizer for the e-voting and venue voting processes.

Financial Performance

Total income decreased significantly from ₹1079.74 lakh in FY25 to ₹264.40 lakh in FY26. This decline was primarily due to the cessation of sales activities, which contributed ₹970.17 lakh in the previous year but were nil in FY26. Interest income rose to ₹237.25 lakh from ₹71.99 lakh, reflecting a shift towards lending operations as the core business model.

Expenses excluding depreciation fell to ₹107.84 lakh from ₹405.40 lakh. The company transferred ₹16.12 lakh to the statutory reserve. No dividend was recommended for the financial year.

Meeting Details

The AGM will commence at 11:00 am at the company's registered office in Jaipur. The address is 21C- Barwara House Colony, Civil Line Ajmer Puliya, Ajmer Road, Jaipur, Rajasthan.

Shareholders can participate through remote e-voting. The voting window opens on September 27, 2026, at 9:00 am and closes on September 29, 2026, at 5:00 pm. The cut-off date for e-voting eligibility is September 23, 2026.

Share Transfer Book Closure

Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the register of members and share transfer book will be closed from September 24, 2026, to September 30, 2026. This closure applies to both physical and dematerialized shares to facilitate the AGM.

Agenda Items

The meeting will transact ordinary and special business items as outlined below:

Kurjibhai Premjibhai Rupareliya retires by rotation and offers himself for reappointment. He has been appointed as Managing Director for a period of five years starting from May 23, 2025.

The Board seeks shareholder approval to regularize Darwin Maheshbhai Kiyada and Rushi Arvindbhai Savaliya as Non-Executive Independent Directors. Both were initially appointed by the Board on July 25, 2026, subject to shareholder approval. Their terms are set for five consecutive years from July 25, 2026.

What the Numbers Show

The shift in revenue composition highlights a strategic pivot away from trading activities. While sales revenue dropped to zero, interest income more than tripled, indicating that lending operations are now the primary driver of top-line growth. However, the overall scale of operations has contracted, leading to the significant decline in net profitability despite lower operating expenses.