Rapid Investments Limited has disclosed the detailed voting results of its 48th Annual General Meeting (AGM) held on September 22, 2026. The filing confirms that all agenda items, including the adoption of FY26 financial statements and key leadership reappointments, were approved by shareholders.

The meeting was chaired by Shailendra Singh at the registered office in Mumbai. Voting was conducted through electronic means via Central Depository Services (India) Limited (CDSL) and physical polling papers. The e-voting window ran from September 19, 2026, to September 21, 2026. A total of 1,924,085 votes were polled across all resolutions, representing 89.50% of the outstanding shares.

Voting Results Breakdown

The scrutinizer, Pankaj S. Desai, verified the votes cast in the presence of witnesses Mr. Bharat Chavan and Mr. Vishal Desai. The results indicate strong shareholder alignment on all proposed resolutions. Notably, only three votes were cast against any resolution, while zero members abstained.

Leadership and Audit Continuity

The special business section focused on securing long-term stability in management and audit compliance. Mrs. Nina Ranka was re-appointed as Managing Director effective August 13, 2026, for a term extending to August 12, 2031. Concurrently, Mr. Arun Jain’s appointment as Independent Director was regularized for a five-year term commencing August 13, 2026.

M/s. NNK & Co., Chartered Accountants, were re-appointed as statutory auditors for a further term of four consecutive years. The ordinary business included the adoption of the audited financial statements and reports of directors and auditors for the fiscal year ended March 31, 2026, alongside the re-appointment of Kanishk Ranka, who retired by rotation.

Shareholder Participation Details

The disclosure provides granular data on shareholder participation. Out of 568 shareholders on record, 12 shareholders attended the meeting in person or through proxy (3 promoters and 9 public). No shareholders attended via video conference.

Promoters and promoter group held 1,516,648 shares and voted all of them in favour across all resolutions. Public non-institutional shareholders held 633,096 shares, of which 407,437 were voted. The remaining dissenting votes (3 against) originated from public non-institutional e-voting participants.

Scrutiny Process Details

Pankaj S. Desai, a Practicing Company Secretary, served as the scrutinizer pursuant to Section 108 of the Companies Act, 2013. The scrutiny process involved unblocking e-voting data and verifying physical ballot papers. The final results were deemed passed as of the date of announcement. Records of shareholders who voted are held in safe custody pending the signing of minutes by the Chairman.

Rapid Investments reported a 54% decline in net profit after tax to ₹5.38 lakh for FY26, down from ₹11.75 lakh in the previous year. Despite the bottom-line contraction, total income rose 20% to ₹2.37 crore, driven by higher interest earnings and fee-based revenues.

The Mumbai-based non-banking financial company (NBFC) announced that the Reserve Bank of India has revived its NBFC license, allowing it to resume lending operations. Management indicated plans to launch financial advisory services, mutual investment businesses, and loan-against-property products. Additionally, the company is considering a rights issue to raise capital for its lending book.

Financial Performance

Total income from operations and other sources increased to ₹2.37 crore in FY26, compared to ₹1.97 crore in FY25. Interest income grew 24% to ₹1.59 crore, while other operating revenue—including processing fees and bank charges—jumped 67% to ₹26.65 lakh. However, total expenses surged 45% to ₹21.67 lakh, primarily due to a sharp rise in employee benefit costs and impairment charges.

Profit before tax fell 55% to ₹21.27 lakh. The company recorded an impairment on financial assets of ₹11.01 lakh in FY26, a significant increase from just ₹0.01 lakh in the prior year. Employee benefit expenses also nearly doubled to ₹12.28 lakh.

What the Numbers Show

A notable divergence exists between the company's operating profitability and its tax treatment. While profit before tax declined sharply, the effective tax rate dropped significantly due to the absence of deferred tax credits in FY26. In FY25, a deferred tax credit of ₹8.72 lakh boosted the bottom line; this item was absent in the current year, contributing to the wider gap between pre-tax and post-tax profits relative to the prior period's structure.

Balance Sheet and Capital Structure

As of March 31, 2026, total assets stood at ₹21.93 crore, up from ₹18.60 crore in FY25. Loans and advances expanded 68% to ₹14.06 crore, reflecting the restart of core lending activities. Investments decreased to ₹7.60 crore from ₹10.03 crore, as the company likely reallocated capital toward its loan book. Cash and cash equivalents more than quadrupled to ₹9.78 lakh, providing a modest liquidity buffer.

Total equity remained stable at ₹11.29 crore. The board did not recommend a dividend for FY26, opting instead to plough back profits into the business. Paid-up share capital remains unchanged at ₹2.15 crore.

Corporate Governance Updates

The 48th Annual General Meeting is scheduled for September 22, 2026. Shareholders will vote on the reappointment of Nina Ranka as Managing Director for five years and Arun Jain as an Independent Director. M/s. NNK & Co. will be reappointed as statutory auditors for four years. Kanishk Ranka retires by rotation and seeks reappointment.