The Motor & General Finance Limited has submitted the official minutes of its 96th Annual General Meeting to BSE and NSE. The meeting was held via Video Conferencing on September 24, 2026, where shareholders passed all seven proposed resolutions with overwhelming support.

The submission, dated September 30, 2026, confirms the procedural completion of the AGM. 211 members participated remotely, voting on items ranging from financial statement adoption to related party transactions. Sh. Arun Mitter, Executive Director, chaired the proceedings as authorized by the Board, while Chairman & Managing Director Sh. Rajiv Gupta and Joint Managing Director Smt. Arti Gupta were absent due to prior commitments.

Voting outcomes and resolution details

Shareholders voted on several ordinary and special business items via remote e-voting and e-voting during the meeting. The notice convening the AGM was dated August 11, 2026. The scrutinizer's report details the specific vote counts for each resolution, highlighting strong shareholder alignment with management proposals. The e-voting facility was provided through CDSL, with the cut-off date for eligibility being September 17, 2026.

Auditor reports and governance

The Statutory Auditors' report on the financial statements for the year ended March 31, 2026, was unqualified and unmodified. Consequently, it was not read out at the meeting as per Section 145 of the Companies Act, 2013. Sh. Praveen Jain, Partner at M/s Jagdish Chand & Co., represented the statutory auditors. The company submitted the published copy of the result to BSE and NSE on September 28, 2026, in compliance with Regulation 47 of SEBI (LODR) Regulations, 2015.

What the numbers show

The voting data reveals a significant concentration of power in the promoter group regarding key corporate decisions. For the re-appointment of Chairman & Managing Director Sh. Rajiv Gupta (Resolution 2), promoters voted 19,974,121 shares in favour, while public shareholders voted only 1,540,333 shares in favour. This indicates that promoter support was the primary driver for this resolution's passage, reflecting their substantial holding relative to the dispersed public float.

In contrast, for routine matters like the adoption of financial statements (Resolution 1) and auditor remuneration (Resolution 3), total votes cast in favour rose to 26,057,900, indicating broader participation from non-promoter shareholders who likely voted via remote e-voting. The consistent 284 votes against across all resolutions suggest a small, cohesive group of dissenting shareholders, representing a negligible fraction of the total voting power.

The Motor & General Finance Limited reported a standalone net profit of ₹14,351.26 lakh for the financial year ended March 31, 2026, a sharp rise from the ₹118.55 lakh profit recorded in the previous year. The surge was primarily driven by an exceptional gain of ₹16,007.16 lakh from the sale of an investment property, which offset a loss from ordinary operations.

Financial Performance

Total revenue for the year stood at ₹969.77 lakh, down slightly from ₹992.74 lakh in FY25. The company incurred a loss before exceptional items and tax of ₹50.96 lakh, compared to a profit of ₹118.55 lakh in the prior year. This operational loss was significantly outweighed by the net exceptional income of ₹15,758.22 lakh, resulting in a profit before tax of ₹15,707.26 lakh. After accounting for a tax expense of ₹1,356.00 lakh, the bottom line expanded dramatically.

Strategic Developments

The company achieved debt-free status as of March 31, 2026, after utilizing proceeds from the property sale to repay outstanding liabilities. The investment property located at A-30, Mohan Cooperative Industrial Estate, was sold to M/s Haldiram Marketing Pvt. Ltd for a net consideration of ₹18,146.58 lakh. Additionally, the company sold its equity shares in Jayabharat Credit Limited, causing it to cease being an associate company effective September 18, 2025. This transaction resulted in an exceptional loss of ₹248.94 lakh.

What the Numbers Show

The financial results highlight a stark divergence between operational performance and headline profitability. While rental income from immovable properties declined marginally to ₹684.21 lakh from ₹697.17 lakh, the company's balance sheet strength improved substantially. Cash and cash equivalents surged to ₹15,617.60 lakh from just ₹11.47 lakh in the previous year, reflecting the successful monetization of assets and deleveraging strategy. The current ratio improved to 3.38 from 1.99, indicating enhanced short-term liquidity.

Corporate Actions

The Board of Directors decided not to recommend any dividend for the financial year under review, opting instead for prudent retention of resources to support sustainable growth. The 96th Annual General Meeting is scheduled for September 24, 2026, to be held via Video Conferencing/Other Audio Visual Means.