Minolta Finance Limited has successfully obtained shareholder approval for a substantial increase in its authorized share capital through a postal ballot process concluded on March 22, 2026. The resolution was passed with the requisite majority, marking a significant milestone in the company's capital structure expansion plans.

Postal Ballot Resolution Details

The company sought approval for increasing its authorized share capital from ₹10,20,00,000 (Rupees Ten Crore Twenty lakh only) to ₹70,20,00,000 (Rupee Seventy Crore twenty lakh only). This represents a six-fold increase in the company's authorized capital base. The resolution also includes the creation of additional equity shares of appropriate face value, ranking pari passu with existing equity shares, and consequent alteration of the Capital Clause in the Memorandum of Association.

Voting Results and Participation

The postal ballot process was conducted exclusively through remote e-voting, with the voting period commencing on February 20, 2026, at 9:00 a.m. and concluding on March 22, 2026, at 5:00 p.m. The voting results demonstrated strong shareholder participation:

Shareholder Category Breakdown

The voting was entirely driven by public non-institutional shareholders, as neither promoter and promoter group nor public institutions participated in the voting process. Out of 96,396,090 shares held by public non-institutional shareholders, 25,513,480 votes were polled, representing a 26.47% participation rate within this category.

Process and Compliance Framework

The postal ballot was conducted in accordance with Section 110 of the Companies Act, 2013, and related rules. CS Amruta Giradkar, Practicing Company Secretary (Membership No. 48693), served as the scrutinizer for the process. The company utilized the e-voting facility provided by National Securities Depository Limited (NSDL) for conducting the remote voting process.

The cut-off date for determining eligible shareholders was set as February 13, 2026, with the postal ballot notice dated February 18, 2026. The notice was distributed electronically to 2,512 shareholders whose email addresses were registered with the company or depositories.

Strategic Implications

The approval of this resolution provides Minolta Finance Limited with enhanced financial flexibility to pursue growth opportunities and strengthen its capital base. The increased authorized share capital will enable the company to issue additional equity shares as needed, subject to applicable statutory approvals and regulatory requirements. This capital structure enhancement positions the company to support its business expansion plans and meet future funding requirements more effectively.

Minolta Finance Limited has announced its unaudited financial results for the quarter ended December 31, 2025, showcasing a remarkable turnaround with a net profit of ₹230.65 lakhs compared to ₹2.73 lakhs in the same quarter of the previous year. The Board of Directors approved these results during their meeting held on February 13, 2026, along with significant corporate restructuring proposals.

Financial Performance Highlights

The company demonstrated strong quarterly performance with substantial revenue growth and improved profitability metrics.

The company's interest income showed exceptional growth, rising from ₹22.14 lakhs in Q3 FY25 to ₹455.69 lakhs in Q3 FY26. Total expenses for the quarter stood at ₹270.85 lakhs, including finance costs of ₹169.56 lakhs and impairment provisions of ₹80.45 lakhs.

Nine-Month Performance Analysis

While the quarterly results show improvement, the nine-month period presents a different picture with challenges in overall profitability.

The nine-month period shows a net loss of ₹329.69 lakhs compared to a net profit of ₹5.37 lakhs in the corresponding period of the previous year, primarily due to increased finance costs of ₹569.66 lakhs and impairment provisions of ₹467.23 lakhs.

Major Corporate Restructuring Initiative

The Board has approved a significant capital expansion proposal that requires shareholder approval through postal ballot.

The proposed increase in authorized share capital from ₹10.20 crores to ₹70.20 crores represents a substantial expansion of ₹60 crores. The new equity shares will rank pari passu with existing equity shares, and the proposal includes consequent alteration of the Capital Clause in the Memorandum of Association.

Auditor Concerns and Risk Factors

The statutory auditors M/S JCR & Co. LLP have highlighted several material concerns in their limited review report. The company has made ECL provisions of approximately ₹0.80 crores during the quarter, bringing total accumulated ECL provisions to ₹5.54 crores, which represents more than 70% of the net-worth. With loan and advances exposure of ₹198.11 crores, the auditors warn that any further deterioration could materially impact net-worth and affect company operations without stakeholder support.

Additionally, the company shows investments in quoted and unquoted shares amounting to ₹62.96 lakhs, but currently lacks documentation justifying ownership of these investments. The auditors note that interest expense may be understated in some loan accounts due to missing loan documents, though the amount cannot be quantified.

Meeting Details and Compliance

The Board meeting commenced at 5:00 PM and concluded at 6:30 PM on February 13, 2026. The company has fulfilled its regulatory obligations under Regulation 30 and Regulation 33 of the SEBI Listing Regulations, with proper submission of results to BSE Limited and The Calcutta Stock Exchange Ltd. The paid-up equity share capital remains unchanged at ₹999.96 lakhs, consisting of equity shares of ₹10 each.