Prithvi Exchange shareholders approved a final dividend of ₹0.50 per equity share and revised remuneration packages for its top executives at the company’s 31st Annual General Meeting (AGM) held on August 27, 2026. The payout represents a 5% dividend yield for FY26.

The meeting was conducted via Video Conferencing and Other Audio-Visual Means (VC/OAVM). Members adopted the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026. The statutory auditors’ reports contained no qualifications or adverse observations.

Governance and Leadership Changes

Shareholders reappointed Mr. Mahavir Chand as Non-Executive Director and Chairman. He retires by rotation and offered himself for re-appointment. The resolution received unanimous support from voting members.

Executive Remuneration Revisions

The meeting transacted special business regarding executive compensation, introducing performance-linked variable pay components effective September 1, 2026:

Both resolutions passed with 99.99% of votes in favour. Promoter group shares were marked as invalid votes for these specific resolutions, meaning the outcome was determined entirely by public non-institutional shareholders.

Strategic Initiatives

The Managing Director highlighted two new initiatives aimed at strengthening market presence:

• Launch of a mobile application for customers
• Introduction of a Partner Hub portal for partners

The video link for the product launch is available on the company website.

Voting Details

Mr. Harsh Shantilal, Company Secretary & Compliance Officer, managed the proceedings. Mr. Esaki V served as the Scrutinizer for the e-voting process. The record date for determining voting eligibility was August 19, 2026. A total of 5,529 shareholders were on record, with 54 members participating via VC/OAVM.

All six resolutions placed before the meeting were passed with the requisite majority. Results have been submitted to the stock exchange within prescribed timelines.

Prithvi Exchange reported a 25.1% year-on-year revenue surge to ₹1,10,822.54 lakh in Q1FY27, reversing a net loss of ₹36.62 lakh in the preceding quarter to post a net profit of ₹70.90 lakh. The foreign exchange firm outperformed broader industry headwinds, including an 18% decline in international passenger traffic, by expanding its branch network to 38 outlets and launching proprietary digital products.

The results were disclosed under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. While year-on-year net profit declined 37.5% from ₹113.46 lakh in Q1FY26 due to margin pressures, the sequential turnaround highlights improved operational efficiency. Profit before tax stood at ₹94.90 lakh, up from a loss of ₹53.70 lakh in Q4FY26.

Financial Performance

Revenue grew sequentially by 17.4% over the ₹94,127.29 lakh reported in Q4FY26. The company’s earnings per share (EPS) recovered to ₹0.86 from a negative ₹0.44 in the previous quarter.

Segment-Wise Growth

Prithvi Exchange achieved broad-based growth across all business verticals despite geopolitical tensions dampening outbound travel sentiment. Business Travel revenue rose 16.4% year-on-year, while Private Visit transactions grew 11.1%. The Wholesale Bank Notes segment saw a robust 35% increase, and Tours TT & Others surged 63%. Education Remittances grew modestly by 2.8%, reflecting continued demand for student funding despite overall declines in RBI Liberalised Remittance Scheme (LRS) data for education and travel.

Strategic Initiatives

The company expanded its physical footprint to 38 branches across 25 cities, adding two new locations in Q1FY27. Digitally, Prithvi launched TravFX, a direct-to-consumer platform for seamless forex booking, and completed the beta launch of Prithvi-branded multi-currency Forex Cards. Management also expanded its Cash to Master (CTM) business to deepen corporate client relationships. Pavan Kumar Kavad, Managing Director, attributed the performance to operational discipline and enhanced customer service amid challenging macroeconomic conditions.

What the Numbers Show

The divergence between top-line growth and compressed bottom-line margins indicates that while transaction volumes increased significantly across wholesale and travel segments, profitability per transaction faced pressure. The 35% surge in wholesale bank notes and 63% rise in tours suggests a shift toward higher-volume, lower-margin corporate and institutional flows, offsetting discretionary leisure spending declines. This structural shift, combined with digital adoption via TravFX, positions the company for sustainable scale despite near-term volatility in international travel demand.