Mangal Credit & Fincorp Limited shareholders approved a doubling of the company's borrowing limit from ₹750 crore to ₹1,500 crore during the 64th Annual General Meeting held on September 22, 2026. The meeting also sanctioned a significant increase in authorised share capital and material related party transactions totaling ₹300 crore.

The resolution to increase borrowing limits under Section 180(1)(c) of the Companies Act, 2013, signals an aggressive expansion strategy for the NBFC. This regulatory approval allows the company to leverage its balance sheet more heavily, potentially supporting future loan book growth. Additionally, shareholders approved the creation of charges on company assets under Section 180(1)(a) to secure these borrowings.

Capital structure and dividend declarations

The AGM approved several key financial resolutions, including the adoption of audited financial statements for FY26 and the declaration of a final dividend. The board recommended a payout of ₹0.75 per equity share with a face value of ₹10 each. Furthermore, the authorised share capital was increased from ₹25 crore to ₹30 crore, divided into 3 crore equity shares.

Strategic expansion and IRDAI registration

During the meeting, Chairman and Managing Director Meghraj Sohanlal Jain highlighted the company's recent registration as a Corporate Agent with the Insurance Regulatory and Development Authority of India (IRDAI). This registration enables Mangal Credit to offer health, life, and general insurance products, subject to applicable regulations. This diversification aims to provide additional services to existing customers and drive inclusive growth.

Executive Director Hardik Meghraj Jain briefed members on the financial and operational performance for FY26 up to the date of the notice. The statutory audit report and secretarial audit report were taken as read, with no qualifications or adverse remarks noted by the auditors.

What the numbers show

The simultaneous approval of a doubled borrowing limit (₹750 crore to ₹1,500 crore) and substantial related party loans (₹300 crore combined) indicates a capital-intensive growth phase. The reliance on promoter-linked funding alongside external debt suggests the company is prioritizing rapid scale-up while managing liquidity through internal group resources. The modest dividend payout of ₹0.75 per share relative to the large capital raises implies that retained earnings are being directed toward fueling this expanded credit capacity rather than immediate shareholder returns.

Mangal Credit & Fincorp has scheduled its 64th Annual General Meeting for September 22, 2026. The board of directors recommended a final dividend of 7.5% of paid-up equity share capital, translating to ₹0.75 per equity share of face value ₹10 each for FY26.

The meeting will be conducted through Video Conference or Other Audio Visual Means via the National Securities Depository Limited facility. This mode of conduct complies with the Companies Act, 2013, SEBI Listing Regulations, and relevant Ministry of Corporate Affairs circulars granting relaxations for remote meetings.

Dividend and Record Date Details

Shareholders on record as of September 14, 2026 will be eligible for the dividend payout. The register of members and share transfer books will remain closed from September 15, 2026 to September 22, 2026 inclusive to facilitate the AGM process.

Compliance and Shareholder Instructions

In line with SEBI’s Fifth Amendment Regulations, 2025, all dividend payments must be made electronically. Shareholders holding shares in demat mode are advised to update their bank details with their depository participants. Those holding physical shares must register their bank particulars with the Registrar and Transfer Agent, MUFG Intime India Private Limited, along with required KYC documents including Form ISR-1.

The company will not dispatch hard copies of the annual report or notice unless specifically requested by members. Electronic copies will be available on the company website and stock exchange portals. Tax at source will be deducted from dividend payments as per the Income Tax Act, 1961 and Finance Act, 2020 provisions.