Morarka Finance Limited received Reserve Bank of India approval on August 27, 2026, for the appointment of Mr. Pranay G. Morarka as Managing Director. The regulatory clearance completes the statutory requirements for the leadership transition.

The company filed application number PRV.CO.DOR.2026-2027.P455 through the RBI’s PRAVAAH portal. Shareholders had previously approved the appointment during the 41st Annual General Meeting held on July 15, 2026.

Regulatory Timeline

The process involved multiple stages of corporate and regulatory compliance. The company notified the stock exchange of shareholder approval via letter reference MFL/2026-27/060 dated July 15, 2026. An earlier update was issued under reference MFL/2026-27/039 dated June 3, 2026.

Appointment Details

Mr. Pranay G. Morarka holds DIN 03272263. With the RBI’s email confirmation on August 27, 2026, all necessary statutory approvals for his role as Managing Director are now in place. Divya Sunil Agarwal, Company Secretary and Compliance Officer, confirmed the receipt of approvals to BSE Limited.

Morarka Finance Limited reported a net profit of ₹37.85 lakh for the quarter ended June 30, 2026, a significant increase from ₹13.96 lakh in the corresponding period of the previous year. The surge in profitability was primarily driven by a sharp rise in revenue, which reached ₹58.18 lakh compared to ₹29.47 lakh in Q1FY26. The board approved the unaudited financial results during a meeting held on July 21, 2026.

Revenue growth was led by dividend income, which surged to ₹29.44 lakh from ₹1.02 lakh in the prior year. Other key income components included fees and commission income at ₹9.75 lakh and rental income at ₹3.87 lakh. Net gain on fair value changes contributed ₹14.82 lakh to the top line. Total income for the quarter stood at ₹58.18 lakh, matching the revenue from operations as other income was nil.

The company effectively managed its expenses, which decreased to ₹12.49 lakh from ₹14.81 lakh in the same quarter last year. Employee benefits expense was recorded at ₹6.14 lakh, while other expenses stood at ₹6.36 lakh. Consequently, profit before tax for the period rose to ₹45.69 lakh from ₹14.66 lakh in the previous year.

The statutory auditors, M/s. Jayesh Dadia & Associates LLP, provided a limited review report confirming the results. The earnings per share (EPS) for the quarter increased to ₹0.84 from ₹0.31 in the same quarter of the previous year. The paid-up equity share capital remained constant at ₹450.21 lakh.

Financial Performance Summary