Muthoot Capital Services held its 32nd Annual General Meeting on August 31, 2026. The company adopted its standalone financial statements for FY26 and approved director appointments during the proceedings.

The meeting was conducted via Video Conferencing or Other Audio-Visual Means, in compliance with the Companies Act, 2013, SEBI Listing Regulations, and Ministry of Corporate Affairs circulars. Ms. Divya Abhishek, Independent Director, chaired the session as the company lacks a designated chairperson.

Financial Statements Adopted

Members received, considered, and adopted the audited standalone financial statements for the fiscal year ended March 31, 2026. The statutory auditors’ report contained no qualifications, reservations, adverse remarks, or disclaimers regarding the FY25-26 standalone financials.

Board Appointments

The shareholders approved two key board-related resolutions:

• Re-appointment of Ms. Susan John as a director, replacing her rotation under Section 152(6) of the Companies Act, 2013.
• Appointment of Ms. Manimekhalai A as an independent director.
• Re-appointment of Mrs. Shirley Thomas as an independent director.

Ms. Deepa G, Company Secretary and Compliance Officer, managed the voting procedures. Remote e-voting was available from August 27 to August 30, 2026, through Central Depository Services (India) Limited. No speaker shareholders attended the meeting to raise queries.

What the Numbers Show

The unqualified audit opinion on the FY26 standalone financials indicates clean compliance with accounting standards for the period. The absence of adverse remarks suggests no material misstatements were identified by the statutory auditors for this fiscal cycle.

Muthoot Capital Services has confirmed the allotment of senior, secured, rated, listed, redeemable, taxable, transferrable, and non-convertible debentures (NCDs) up to ₹100 crore on a private placement basis. The Debenture Issue and Allotment Committee of the Board of Directors approved the issue and allotment during a meeting held on Tuesday, August 24, 2026. The company disclosed the transaction pursuant to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The proposed issue comprises 1,00,000 NCDs with a face value of ₹10,000 each, aggregating to ₹100 crore. The instruments are slated for listing on BSE Limited. The deemed date of allotment is set for August 24, 2026, while the maturity date is fixed for August 24, 2029, giving the instruments a tenor of 36 months.

Issue structure and terms

The NCDs carry a coupon rate of 9.25% per annum, payable monthly. Principal repayment follows a bullet payment structure at maturity. The securities are secured by a pari passu charge on the issuer's standard loan receivables and current assets, both present and future, held in favour of the Debenture Trustee. A minimum asset coverage ratio of 1.1 times the outstanding value of the debentures must be maintained throughout their tenor.

Rating and default provisions

The debentures carry a credit rating of 'AA-'. The instrument includes a step-up clause that increases the coupon by up to 25 basis points for each notch downgrade in the rating during the tenor. Conversely, if the rating is upgraded after a downgrade, the coupon decreases by 25 basis points for each notch upgrade, though it cannot fall below the initial coupon rate.

In the event of a default, defined as a delay in interest or principal payment for more than three months, the issuer will be liable to pay a default interest rate of 2% per annum over and above the coupon rate for the defaulting period.