Manipal Finance Corporation Ltd will hold its 43rd Annual General Meeting on Friday, September 25, 2026. The meeting is scheduled for 11:00 am at the company’s registered office in Manipal, Karnataka.

The register of members and share transfer books remain closed from September 19, 2026, to September 25, 2026, inclusive. This closure determines shareholder eligibility for the AGM in compliance with Section 91(1) of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.

Key Details

The company holds 83,80,961 equity shares with a total paid-up value of ₹8,38,09,610. Shareholders registered within this window are entitled to participate in the AGM proceedings.

E-Voting and Documentation

In compliance with MCA circulars and SEBI regulations, the notice of the 43rd AGM and the Annual Report for FY26 will be sent only by electronic mode to members with registered email IDs. The documents are also available on the company website and the BSE Limited website.

CDSL provides the facility for remote e-voting and voting during the AGM. Members holding shares in physical mode who have not registered their email addresses are requested to update their details with the Registrar & Transfer Agent, Cameo Corporate Services Ltd. Demat holders must update changes with their Depository Participants.

Manipal Finance Corporation Ltd reported a net profit of ₹18.59 lakh for the financial year ended March 31, 2026, marking a significant decline from the ₹723.71 lakh profit recorded in FY25.

The company's total income for FY26 stood at ₹19.85 lakh, down from ₹22.35 lakh in the previous year. This contraction was largely due to a drop in dividend income, which fell to ₹40,000 from ₹3.44 lakh in FY25. Rental income, however, saw a slight increase to ₹18.90 lakh, up from ₹18.30 lakh.

Operational Losses vs Exceptional Gains

Despite the bottom-line profit, the company's core operations remained unprofitable. Manipal Finance incurred an operating loss of ₹18.04 lakh before exceptional items and tax, compared to a loss of ₹24.04 lakh in FY25. Total expenses decreased to ₹37.89 lakh from ₹46.39 lakh in the prior year, reflecting cost-cutting measures.

The positive net profit was entirely attributable to exceptional items. The company recorded exceptional income of ₹36.63 lakh from bad debt recoveries. In contrast, FY25 saw exceptional income of ₹747.75 lakh, driven by large-scale bad debt write-backs and the sale of unquoted equity shares.

What the Numbers Show

The company's profitability is heavily dependent on non-recurring exceptional items rather than operational performance. With operating expenses (₹37.89 lakh) more than double the total income (₹19.85 lakh), the core business continues to bleed cash. The net profit of ₹18.59 lakh exists solely because exceptional recoveries (₹36.63 lakh) bridged the operational deficit. This divergence highlights that the company remains in a wind-down phase, focused on recovering dues rather than generating sustainable revenue.

Balance Sheet and Liabilities

As of March 31, 2026, total assets stood at ₹92.52 lakh, a marginal decrease from ₹93.07 lakh in FY25. Cash and cash equivalents dropped to ₹0.85 lakh from ₹1.10 lakh.

Total liabilities amounted to ₹841.57 lakh, comprising financial liabilities of ₹439.73 lakh and non-financial liabilities of ₹401.84 lakh. Borrowings decreased to ₹73.90 lakh from ₹94.74 lakh, indicating ongoing debt repayment efforts. Subordinated liabilities remained unchanged at ₹295 lakh.

The company's equity position remains negative, with total equity at -₹749.05 lakh, compared to -₹767.71 lakh in the previous year. The improvement is driven by the current year's profit offsetting accumulated losses.

Auditor Qualification and Going Concern

Statutory auditors Sriramulu Naidu & Co issued a qualified opinion on the financial statements. The qualification cites substantial losses over recent years and the blocking of majority funds in non-performing assets, raising doubts about the company's ability to continue as a going concern. The auditors noted they are unable to comment on the ultimate realisability of assets or the company's ability to settle liabilities.

The company's activities remain restricted to the recovery of dues and repayment of debts, with no new lending or deposit acceptance since 2002. All unclaimed deposits and debentures have been transferred to the Investor Education and Protection Fund, except for disputed amounts pending legal resolution.