Muthoot Capital Services has published the notice for its 32nd Annual General Meeting (AGM) in Mangalam and Business Line on August 08, 2026, pursuant to Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting is scheduled for Monday, August 31, 2026, at 11:00 a.m. (IST) via Video Conferencing or Other Audio-Visual Means (OAVM). This publication ensures that shareholders who may not have received electronic communications are informed of the upcoming governance proceedings.

The AGM will transact ordinary business, including the adoption of audited standalone financial statements for the financial year ended March 31, 2026 (FY26). Special business items include the appointment of Ms. Manimekhalai A as an Independent Director and the re-appointment of Mrs. Shirley Thomas. Additionally, Ms. Susan John, a Non-Executive Director, offers herself for re-appointment by rotation. The company has engaged Central Depository Services (India) Limited (CDSL) to facilitate remote e-voting.

Key AGM Dates and Voting Details

Shareholders holding shares as on the cut-off date of Monday, August 24, 2026, are eligible to vote. Remote e-voting commences on Thursday, August 27, 2026, at 9:00 a.m. (IST) and concludes on Sunday, August 30, 2026, at 5:00 p.m. (IST). Members who have already cast votes remotely may attend the meeting but cannot vote again. Physical attendance is dispensed with, and proxy appointments are not available.

Board Appointments and Governance

The Nomination and Remuneration Committee recommended the appointment of Ms. Manimekhalai A (DIN: 08411575) as an Independent Director for a first term of five years, effective July 16, 2026. She brings extensive experience from her role as Managing Director and CEO of Union Bank of India. Mrs. Shirley Thomas (DIN: 08586100) is up for re-appointment as an Independent Director for a second term of five years, commencing November 25, 2026. Her tenure supports continued governance stability across multiple committees, including Audit and Risk Management.

Shareholder Instructions

The Annual Report and AGM Notice are accessible electronically at www.muthootcap.com , www.bseindia.com , www.nseindia.com , and www.evotingindia.com . Members without registered email addresses will receive an intimation letter with web links as per Regulation 36(1)(b) of the Listing Regulations. Physical shareholders must update their contact details using Form ISR-1 with Integrated Registry Management Services Private Limited to ensure receipt of future communications. Corporate members must upload certified copies of Board Resolutions or Authorization Letters to the CDSL portal or email them to the Scrutinizer, Mr. S Sandeep (FCS 5853 / COP 5987) of M/s. S Sandeep and Associates.

muthoot capital services reported a net profit of ₹1,117.33 lakh for the financial year ended March 31, 2026, down 75.58% from ₹4,574.60 lakh in FY25. The sharp decline in earnings, despite a 32.74% rise in total income to ₹63,252.15 lakh, signals significant pressure on margins driven by higher credit costs and operational expenditures. This performance reflects the challenges faced by the NBFC in managing asset quality during a period of portfolio stress, impacting shareholder returns as the Board decided against declaring a dividend.

The company’s total income increased from ₹47,649.53 lakh in FY25 to ₹63,252.15 lakh in FY26, supported by growth in its self-sourced loan portfolio. However, finance expenses rose 41.00% to ₹31,521.42 lakh, while operating expenses grew 29.61% to ₹22,443.46 lakh. The most material drag on profitability was the loan loss and provision expense, which surged 289.95% to ₹7,557.03 lakh from ₹1,937.95 lakh in the prior year. Management attributed this spike to higher impairment expenses recognized due to stress in the seasoned portfolio during the first half of the fiscal year.

Financial Performance Snapshot

Assets under management (AUM) on the own book stood at ₹3,35,050.00 lakh as of March 31, 2026, up 9.76% from ₹3,05,268.41 lakh in the previous year. Disbursements for all loans decreased by 11.29% to ₹2,34,374.77 lakh, primarily because the company intentionally reduced its co-lending portfolio to focus on its own book. The capital adequacy ratio (CRAR) remained robust at 22.02%, well above the regulatory minimum of 15%, with Tier I CRAR at 21.87%.

What the Numbers Show

The divergence between rising income and collapsing profits highlights a critical shift in cost structure. While net interest income grew 25.45% to ₹31,730.73 lakh, the loan loss to average AUM ratio jumped to 2.35% from 0.78% in FY25. This indicates that the stress in the seasoned portfolio was not fully offset by the improved quality of newly originated assets. Furthermore, the return on average AUM fell sharply to 0.35% from 1.85%, suggesting that the current provisioning levels are temporarily suppressing capital efficiency until portfolio quality stabilizes.

The Board of Directors recommended retaining all profits for FY26 to strengthen the capital base and support future business growth, resulting in no dividend payout. The 32nd Annual General Meeting is scheduled for August 31, 2026, where shareholders will vote on the re-appointment of Ms. Susan John and the appointment of Ms. Manimekhalai A as an Independent Director.