Mudra Financial Services Limited held its 32nd Annual General Meeting on September 17, 2026, at its Mumbai premises, where members transacted three resolutions covering financial statements, director rotation, and a managerial appointment.

Meeting details

The AGM was convened at 3rd Floor, Vaastu Darshan, "B" Wing, Azad Road, Andheri (East), Mumbai, commencing at 12:00 pm and concluding at 12:30 pm. Seven members attended the meeting in person. Mr. Atul Jain chaired the proceedings, and Company Secretary Kinjal Chirag Gandhi welcomed members and introduced the directors and key managerial personnel present.

Resolutions transacted

Three resolutions were placed before members for consideration, as set out in the AGM notice. The following table summarises the items transacted:

Voting and e-voting process

The company provided remote e-voting through National Securities Depository Limited (NSDL) for all businesses proposed at the AGM. The remote e-voting period commenced on September 13, 2026 at 9:00 am and concluded on September 16, 2026 at 5:00 pm. Members who had not exercised their voting rights through remote e-voting were provided the facility to cast their votes through ballot paper at the meeting.

Voting rights of members were in proportion to their shareholding in the paid-up equity share capital of the company. Tejas Gohil, Chartered Accountant, was appointed as the Scrutinizer to scrutinize the remote e-voting and ballot paper voting and to submit his report. The voting results, along with the Scrutinizer's Report, are to be made available on the company's website, the website of the stock exchange where the company's securities are listed, and the website of NSDL.

Close of meeting

The Chairman invited members to raise queries relating to the operations and financial performance of the company, which were addressed during the session. The meeting concluded at 12:30 pm after members present cast their votes through ballot paper. The proceedings were filed pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mudra Financial Services has scheduled its 32nd Annual General Meeting (AGM) for Thursday, September 17, 2026. The company published the notice in Active Times and Mumbai Lakshadeep on August 25, 2026. The meeting will convene at the registered office in Mumbai to transact ordinary and special business, including the adoption of audited financial results for FY26.

Meeting Details

The AGM is set to begin at 12:00 pm at the company’s registered office located at 3rd Floor, Vaastu Darshan, "B" Wing, Azad Road, Andheri (East), Mumbai - 400 069. Shareholders holding securities as on the record date of Friday, September 11, 2026, will be eligible to vote. The company will facilitate remote e-voting through National Securities Depository Limited (NSDL) from September 13 to September 16, 2026.

Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and Share Transfer Books will remain closed during this period.

Board Appointments

The special business agenda includes a resolution for the reappointment of Mr. Dipen Prabhat Maheshwari as Managing Director. The board proposes a three-year term commencing from April 1, 2027, and ending on March 31, 2030. Mr. Maheshwari, who has served as MD since April 2015, holds an MBA in Finance and possesses over 11 years of experience in project finance and management.

Under the proposed terms, his aggregate remuneration—including salary, perquisites, allowances, and benefits—will not exceed ₹30,00,000 per annum. The explanatory statement notes that this remuneration shall continue without reduction even in the event of absence or inadequacy of profits, constituting minimum remuneration payable under Section 197 read with Schedule V of the Companies Act, 2013.

Additionally, shareholders are asked to reappoint Mr. Atul Jain as a director liable to retire by rotation. Mr. Jain, a Chartered Accountant with expertise in merchant banking and project finance, draws nil remuneration.

Financial Performance FY26

The notice includes financial performance data for the year ended March 31, 2026. The company reported revenue from operations of ₹72.35 lakh, contributing to a total revenue of ₹92.32 lakh when combined with other income of ₹19.97 lakh. This represents an 8.7% increase in total revenue compared to ₹85 lakh (₹66.55 lakh from operations + ₹18.45 lakh other income) in FY25.

The company recorded a profit before tax of ₹7.58 lakh. After accounting for current tax expenses of ₹5.40 lakh and benefits from earlier years’ tax (₹6.77 lakh) and deferred tax (₹7.49 lakh), the profit after tax stood at ₹16.44 lakh. This marks a decline from the PAT of ₹25.69 lakh reported in FY25.

What the Numbers Show

Other income contributed significantly to the bottom line, accounting for approximately 22% of total revenue. More notably, the profit after tax figure of ₹16.44 lakh exceeds the profit before tax of ₹7.58 lakh. This divergence is driven by net tax credits totaling ₹14.26 lakh (derived from earlier years’ tax benefit of ₹6.77 lakh and deferred tax benefit of ₹7.49 lakh against current tax expense of ₹5.40 lakh). This indicates that the reported profitability for FY26 was substantially boosted by tax adjustments rather than operational cash generation alone.