Manraj Housing Finance Ltd. has closed its trading window effective October 1, 2026, ahead of the announcement of its un-audited financial results for the quarter and half year ended September 30, 2026.

The closure applies to Designated Persons and their immediate relatives in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company’s internal code of conduct. The restriction will remain in force until forty-eight hours after the official declaration of the financial results.

Board meeting date to be intimated

The company stated that the specific date for the Board of Directors meeting to consider and approve these results will be communicated in due course. This procedural step ensures that no insider information regarding the upcoming earnings is traded upon during the sensitive period preceding the release.

Regulatory compliance details

This action is a standard regulatory requirement for listed entities to prevent insider trading during the blackout period associated with material non-public information.

Manraj Housing Finance has scheduled its 36th Annual General Meeting for September 28, 2026, to adopt financial statements reflecting a net loss of ₹47.97 lakh for FY26. The meeting will be held at the company's registered office in Jalgaon, Maharashtra, starting at 10:30 am.

The company reported zero revenue from operations for the year ended March 31, 2026, relying entirely on other income of ₹4.29 lakh against total expenses of ₹52.26 lakh. This marks a significant decline from the net profit of ₹33.64 lakh reported in FY25, driven by a sharp drop in other income from ₹54.29 lakh to ₹4.29 lakh.

Meeting Details

Shareholders holding shares on the cut-off date of September 19, 2026, are eligible to vote. The book closure period runs from September 19, 2026, to September 28, 2026 (both days inclusive). The company will provide a remote e-voting facility through Bigshare Services Pvt Ltd. The e-voting period runs from September 25, 2026, at 9:00 am to September 27, 2026, at 5:00 pm.

The Annual Report and AGM notice are available electronically on the company website and the BSE Limited platform. Physical letters with web-links have been dispatched to shareholders without registered email addresses.

Agenda Items

The AGM notice outlines several ordinary and special business items:

• Adoption of Accounts: Approval of audited financial statements for FY26, including the balance sheet, profit and loss account, and cash flow statement.
• Director Reappointment: Reappointment of Ms. Neetika Manish Jain (DIN: 00394934), who retires by rotation and has offered herself for reappointment.
• Independent Director Appointment: Appointment of Mr. Ajitsingh Bansilal Behra (DIN: 11874253) as an Independent Director for a five-year term, effective August 12, 2026.
• Constitutional Amendments: Alteration and adoption of new Memorandum of Association (MOA) and Articles of Association (AOA) to align with the Companies Act, 2013.
• Object Clause Alteration: Expansion of main objects to include business activities related to jewellery, bullion, precious metals, and allied products, including manufacturing, retail, and financing services.

Financial Performance

The company remains largely inactive in its core housing finance business, having discontinued operations several years ago. The FY26 results highlight continued operational dormancy:

Auditor Concerns

The statutory auditors, Ratan Chandak & Company LLP, issued an adverse opinion on the financial statements due to material uncertainties. Key concerns include:

• Related Party Advances: Over 99% of assets comprise advances to related parties under investigation by the Enforcement Directorate (ED) under PMLA, with assets provisionally attached.
• Liabilities: Approximately 65% of liabilities are unsecured loans from related parties with beneficial interests in the attached properties.
• Bank Default: The company defaulted on a loan from Jalgaon Peoples Co-Op. Bank Ltd., with outstanding principal of ₹687.03 lakh as of February 2020. Interest accruals remain unrecognized despite assignment to ASREC (India) Ltd.
• Going Concern: Accumulated losses of ₹574.96 lakh and lack of operational activity cast significant doubt on the company's ability to continue as a going concern.

What the Numbers Show

The divergence between the company's reported net loss of ₹47.97 lakh and the auditor's note on understated liabilities reveals a critical disconnect in financial reporting. While the profit and loss account reflects only recognized expenses, the auditor highlights that uncharged interest and penal interest on the default bank loan amount to approximately ₹711.42 lakh in potential additional liability. This suggests the reported equity erosion is significantly understated, as the balance sheet does not capture the full extent of debt obligations arising from the long-standing bank default. The reliance on related-party funding, constituting 65% of liabilities, further indicates a dependency structure that may not be sustainable without resolving the ED-linked asset attachments.