Minolta Finance Limited reported a net profit of ₹46.81 lakh for the quarter ended June 30, 2026, marking a turnaround from a net loss of ₹56.00 lakh in the corresponding period of the previous year. The Board of Directors approved the unaudited financial results on August 11, 2026, under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Despite the return to profitability, statutory auditors JCR & Co. LLP raised serious concerns regarding data integrity, missing documentation for loans and investments, and pending regulatory approvals, signaling underlying operational risks that could impact future financial reporting.

The company’s revenue from operations, primarily interest income, rose significantly to ₹491.33 lakh in Q1FY26, compared to ₹205.31 lakh in Q1FY25. Total income stood at ₹491.33 lakh, while total expenses were ₹461.50 lakh. The improvement in profitability was driven by higher interest income and lower impairment charges relative to the prior year’s expense structure, although finance costs remained substantial at ₹407.90 lakh. In addition to approving the financials, the Board authorized the appointment of M/s. CGCA & Associates, Chartered Accountants (Firm Registration No. 123393W/W100755), as Tax Auditors & Consultant. The Board also approved the Notice convening the Annual General Meeting and fixed its date, time, and venue.

Financial Performance

Strategic Changes and Governance

The Board approved strategic changes, including a proposal to rename the company to "Wagad Finance Limited" or such other name as may be made available by the Ministry of Corporate Affairs, subject to shareholder and regulatory approvals. Additionally, the Board approved shifting the registered office from West Bengal (Kolkata) to Mumbai, Maharashtra, also subject to shareholder and statutory approvals. A separate resolution approved shifting the registered office within the local limits of Kolkata, indicating ongoing administrative restructuring.

Audit Qualifications and Governance Risks

Statutory auditors JCR & Co. LLP issued a limited review report with significant qualifications. The auditors noted that interest expenses are understated because loan documents are missing, making quantification impossible. Furthermore, the company holds quoted and unquoted share investments worth ₹62.87 lakh but lacks ownership documents, preventing verification of their carrying value.

The audit report highlighted that the company considered recoveries of ₹2.94 crore from Radiant Financial Services Ltd. for a period subsequent to the reporting date. This treatment resulted in an understatement of the Expected Credit Loss (ECL) provision by ₹2.94 crore and an overstatement of profit by the same amount. Additionally, an assignment of debt worth ₹6.18 crore to Radiant Financial Services Ltd., dated June 30, 2026, lacked board approval and supporting assignment letters at the time of review.

Regulatory and Operational Concerns

The auditors disclosed that the company filed an application with the Reserve Bank of India (RBI) in March 2026 for approval of management changes, which is still awaited. NBFC regulations require prior written permission from the RBI for any takeover or acquisition of control. The report also noted a ransomware cyber-attack on July 3, 2026, which compromised all financial data and backups. While management claims no financial loss occurred, the inability to recover data poses significant operational risks. Finally, the auditors observed that Profession Tax deducted from employee salaries has not been remitted to authorities, and the company lacks mandatory professional tax registration.

Bobros Consultancy Services Private Limited has reduced its equity stake in Minolta Finance Limited by selling 2,92,829 shares on August 6, 2026. The market sale reduced the consultancy firm’s total holding in the Hyderabad-based non-banking financial company from 10.04% to 9.75% of the total voting capital. This disclosure was made pursuant to Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, marking a slight decrease in institutional exposure without crossing any mandatory open offer thresholds.

The transaction was executed through market sales, as confirmed by Venu Gopal Oguri, Director of Bobros Consultancy Services Private Limited. The filing indicates that Bobros Consultancy is not part of the promoter or promoter group of Minolta Finance. Prior to this acquisition, Bobros held 1,00,43,512 shares carrying voting rights. Following the sale, the total holding stands at 97,50,683 shares. There were no changes in shares encumbered by pledge, lien, or other non-disposal undertakings during this period.

Shareholding Pattern Details

The following table outlines the change in shareholding structure for Bobros Consultancy Services Private Limited regarding Minolta Finance Limited:

Minolta Finance Limited has an equity share capital of 10,00,00,000 equity shares, as per the shareholding pattern publicly disclosed as on June 30, 2026. The company’s shares are listed on BSE Limited (Scrip Code: 532164) and The Calcutta Stock Exchange Limited (Scrip Code: 10023910). The ISIN for the security is INE514C01026.

What the Numbers Show

The reduction in stake from 10.04% to 9.75% suggests a minor portfolio rebalancing by Bobros Consultancy rather than a strategic exit, as the entity remains a significant shareholder above the 5% substantial acquisition threshold. The absence of any encumbrances or pledged shares indicates that the liquidity event was driven by outright market sales rather than forced liquidation due to margin calls. The stable total voting capital of Minolta Finance implies that this transaction did not involve any corporate actions such as bonus issues or rights allotments that would have altered the denominator of the shareholding percentage.