RGF Capital Markets adopted its audited financial statements for the fiscal year ended March 31, 2026, during its Annual General Meeting held on September 30, 2026. The meeting also regularized the appointment of a key independent director and appointed a new statutory audit firm.

The shareholders approved the adoption of the Balance Sheet as at March 31, 2026, and the Statement of Profit and Loss for the year then ended, along with the Reports of the Board of Directors and Auditors. This action formalizes the company's financial performance for FY26.

Governance and Board Changes

The members considered and approved the regularization of Ajay Pratap Singh (DIN: 06873486) as a Non-Executive Independent Director. His appointment is for a term of five years, in line with the notice convening the AGM.

Additionally, the company appointed M/s Arun Jain & Associates, Chartered Accountants (FRN: 325867E), Kolkata, as its Statutory Auditors. This appointment is made pursuant to Sections 139 and 142 of the Companies Act, 2013, and other applicable provisions.

Special Business Transacted

Under special business, the members approved the appointment of Pankaj Kumar Modi (C.P. No. 12472), a Peer Reviewed Practicing Company Secretary, as the Secretarial Auditor for FY27. This appointment is pursuant to Section 204 of the Companies Act, 2013, read with applicable Rules and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The remuneration for this role will be determined by the Board of Directors or its committees.

The AGM commenced at 11:00 am and concluded at 12:30 pm. Detailed voting results and the Scrutinizer's Report will be submitted separately in accordance with SEBI regulations.

RGF Capital Markets Limited reported a net profit of ₹15.70 lakh for the financial year ended March 31, 2026, marking a significant turnaround from the ₹0.01 lakh recorded in the previous fiscal year. The Kolkata-based non-banking financial company (NBFC) saw its total income expand to ₹56.43 lakh, driven primarily by a sharp increase in interest income and fair value gains on investments.

The company’s revenue from operations stood at ₹53.77 lakh in FY26, compared to ₹13.34 lakh in FY25. This growth was underpinned by interest income of ₹50.89 lakh and net gains on fair value changes amounting to ₹2.88 lakh. Other income contributed an additional ₹2.65 lakh to the top line. Despite the robust top-line performance, the bottom line was impacted by a substantial tax charge of ₹32.47 lakh, which included adjustments for earlier years and deferred tax liabilities.

Financial Performance Overview

The following table summarizes the key financial metrics for FY26 compared to FY25:

Note: The Directors' Report cites a net profit of ₹15.70 lakh, while the audited Statement of Profit and Loss reflects a profit of ₹4.15 lakh after accounting for specific tax adjustments. The figures above reflect the Directors' Report presentation.

Balance Sheet Strength

RGF Capital Markets maintained a strong liquidity position with cash and cash equivalents rising to ₹421.82 lakh as on March 31, 2026, up from ₹410.82 lakh in the previous year. The company’s loan book expanded to ₹1,103.76 lakh (net of impairment), reflecting a steady deployment of capital into term loans. Notably, all loans were unsecured, with no collateral held against them.

The total equity base stood at ₹1,387.43 lakh, supported by a paid-up equity capital of ₹1,500.24 lakh. The Capital to Risk-Weighted Assets Ratio (CRAR) remained robust at 88.82%, well above regulatory thresholds, indicating ample capital adequacy for future lending activities.

What the Numbers Show

A critical observation in the FY26 results is the divergence between operational profitability and final net income due to tax structures. While Profit Before Tax jumped to ₹36.62 lakh, the effective tax burden was disproportionately high at ₹32.47 lakh. This was largely driven by an adjustment of earlier year taxes worth ₹26.37 lakh and deferred tax charges of ₹6.10 lakh. Consequently, the reported net profit of ₹15.70 lakh (per Directors' Report) or ₹4.15 lakh (per P&L statement) is significantly lower than what the pre-tax performance would suggest, highlighting the impact of one-time or prior-period tax liabilities on the current year’s bottom line.

Corporate Governance and Operations

The Board of Directors recommended no dividend for FY26. The company continues to operate as a Non-Banking Financial Company registered with the RBI, focusing on inter-corporate loans, personal loans, and trading in shares. During the year, the company faced some compliance observations noted by the secretarial auditor regarding SEBI regulations and website disclosures, which management stated were being regularized. No penalties were imposed by the RBI during the period.