The Motor & General Finance Limited held its 96th Annual General Meeting on September 24, 2026. The meeting was conducted through Video Conferencing and Other Audio Visual Means from the registered office in New Delhi.

Meeting proceedings and attendance

The meeting commenced at 11:30 am with a quorum present. A total of 211 members attended the session. Sh. Arun Mitter, Executive Director, chaired the proceedings as authorized by the Board. Sh. Rajiv Gupta, Chairman & Managing Director & CEO, and Smt. Arti Gupta, Joint Managing Director, were unable to attend due to prior commitments.

Ms. Anjali Yadav of M/s Anjali Yadav & Associates served as the Scrutinizer for remote e-voting and e-voting at the AGM. The facility for appointment of proxies was not available as per MCA circulars for virtual meetings.

Resolutions passed

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 following resolutions were transacted:

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.

Voting outcomes

Voting on all resolutions was conducted through remote e-voting and e-voting during the AGM. The combined Scrutinizer's Report and voting results will be communicated to the stock exchanges within the prescribed time limit. These details will also be available on the company's website and stock exchange platforms.

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.