Market Creators Limited concluded its 34th Annual General Meeting on September 29, 2026, in Vadodara. Shareholders approved the audited financial statements for the fiscal year ended March 31, 2026, and passed key governance resolutions regarding directorship and audit appointments.

The meeting, held at the company's registered office "Creative Castle," commenced at 11:30 am and concluded at 2:50 pm. A total of 22 members attended in person, with no proxies recorded. The requisite quorum was confirmed by the Company Secretary before proceedings began.

Key resolutions passed

Members transacted three ordinary business items as outlined in the notice dated September 5, 2026. Voting was conducted via remote e-voting and ballot papers at the venue. The results were subject to declaration by the scrutinizer following the poll.

Management and audit updates

Kalpesh Jayantilal Shah, Managing Director, chaired the session and briefed members on business prospects. The Board's report and standalone accounts were taken as read with member consent.

The company introduced its statutory auditor, M/s MRNP & Co LLP, and internal auditor, M/s KAPS & Co. M/s Kirti Sharma & Associates served as both the scrutinizer for the AGM and the proposed secretarial auditor. Mrs. Shivangi Johari, Company Secretary, managed the procedural aspects of the meeting.

Secretarial auditor appointment details

Shareholders approved the appointment of M/s Kirti Sharma & Associates as Secretarial Auditor for a term of five consecutive years. The firm will hold office from the conclusion of this AGM until the conclusion of the 39th Annual General Meeting, scheduled for the financial year 2031-32.

The appointment follows the recommendation of the Board and the Nomination and Remuneration Committee. CS Kirti Sharma, proprietor of the firm based in Kolkata, holds over nine years of post-qualification experience in secretarial and legal matters. The firm is peer-reviewed (Certificate No. 6789/2025) and handles compliance under SEBI regulations, FEMA, RBI guidelines, and the Companies Act, 2013.

Governance and compliance

Remote e-voting facilities were extended to members from September 26 to September 28, 2026. This complied with provisions under the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The consolidated voting report was scheduled for publication on the company website and stock exchange platforms.

Market Creators Limited reported a net loss of ₹20.90 lakh for the financial year ended March 31, 2026 (FY26), reversing a net profit of ₹17.52 lakh in FY25. The Vadodara-based stockbroking firm has scheduled its 34th Annual General Meeting (AGM) for September 29, 2026.

Revenue from operations declined to ₹528.13 lakh in FY26 from ₹708.72 lakh in the previous year. Total revenue fell to ₹668.41 lakh, while total expenses stood at ₹683.66 lakh. The company recorded a profit before tax of (₹20.14 lakh) against a profit of ₹18.19 lakh in FY25.

Financial Performance

The decline in operational revenue was partially offset by other income, which remained relatively stable at ₹140.29 lakh compared to ₹148.73 lakh in FY25. Finance costs decreased to ₹108.24 lakh from ₹118.42 lakh, reflecting lower interest expenses. However, employee benefit expenses also contracted slightly to ₹135.70 lakh from ₹140.91 lakh.

Balance Sheet Highlights

As of March 31, 2026, total assets stood at ₹4,865.30 lakh, down from ₹5,205.72 lakh in the previous year. Current assets decreased to ₹4,684.00 lakh from ₹5,021.66 lakh, driven by a significant drop in bank balances other than cash and cash equivalents, which fell to ₹280.01 lakh from ₹1,223.10 lakh. Inventories, primarily comprising borrowed shares and securities, increased to ₹1,714.64 lakh from ₹997.78 lakh.

Total liabilities were ₹3,808.66 lakh, down from ₹4,128.94 lakh. Borrowings remained stable at ₹594.67 lakh. Trade payables decreased to ₹1,373.34 lakh from ₹1,592.67 lakh. The company’s equity share capital remained unchanged at ₹1,050.00 lakh.

Board Meeting Outcome

In its meeting held on September 5, 2026, the Board of Directors approved the Notice of the 34th AGM, the Directors Report, and the Management Discussion and Analysis Report. The Board also approved the appointment of M/s. Kirti Sharma & Associates as the Secretarial Auditor for a term of five years, commencing from the financial year 2026-27 till 2030-31. This appointment follows the resignation of Mrs. Heena Patel, who stepped down due to engagement in other professional assignments.

AGM and Corporate Governance

The 34th AGM will be held at the company’s registered office in Vadodara on September 29, 2026, at 11:30 am. Key agenda items include:

• Adoption of audited financial statements for FY26.
• Re-appointment of Mr. Kalpesh Jayantilal Shah as Director by rotation.
• Appointment of M/s. Kirti Sharma & Associates as Secretarial Auditor for five years.

The register of members and share transfer books will remain closed from September 23, 2026, to September 29, 2026. Remote e-voting through CDSL will be available from September 26, 2026, at 9:00 am to September 28, 2026, at 5:00 pm, for shareholders holding shares as on September 22, 2026. M/s. Kirti Sharma & Associates has been appointed as the Scrutinizer for the voting process.

Members who have not cast their vote via remote e-voting may attend the AGM and vote using ballot or polling papers. Insta-poll facilities will not be available at the meeting venue. Shareholders who acquired shares after the notice dispatch but hold them as of the cut-off date can obtain login credentials via helpdesk.evoting@cdslindia.com or info@marketcreators.net .

What the Numbers Show

The shift to a net loss in FY26 was primarily driven by a significant contraction in revenue from operations, which fell nearly 26% year-on-year. While the company managed to reduce finance costs and employee expenses, these savings were insufficient to offset the decline in core brokerage and trading revenues. The increase in inventories (borrowed securities) alongside a decrease in bank balances suggests a continued reliance on secured borrowing facilities to support operations, despite the lower overall asset base.