Shri Niwas Leasing and Finance Limited held its 41st Annual General Meeting on September 22, 2026, via Video Conferencing, with all 6 resolutions passed by an overwhelming majority of 99.98% votes in favour.

The meeting commenced at 3:00 pm and concluded at 3:24 pm. A total of 29 shareholders attended through Video Conferencing, comprising 1 from the promoter and promoter group and 28 from the public. The record date for identifying eligible voters was September 14, 2026, on which the company had 1,229 total shareholders. Remote e-voting was open from September 19, 2026 (9:00 am) to September 21, 2026 (5:00 pm), with no shareholders voting during the AGM itself. Skyline Financial Services Pvt. Ltd. served as the e-voting service provider.

Key resolutions passed

The members adopted the audited standalone financial statements, Director's Report, and Auditor's Report for the year ended March 31, 2026. Additionally, Rajni Tanwar, who retires by rotation, was re-appointed as Managing Director. The meeting addressed several special business items related to corporate governance and capital management:

Voting results

All six resolutions were passed through remote e-voting with requisite majority. The consolidated voting outcome across all resolutions was identical, as detailed below:

Across all resolutions, 54 members voted in favour, casting 3,596,486 votes (99.99% of valid votes polled), while 14 members voted against, casting 56 votes (0.01%). No invalid votes were recorded for any resolution.

Scrutinizer and compliance details

FCS Bhupendra Kaushik of B. Kaushik & Associates (Membership No. F9884) served as the scrutinizer, appointed at the Board Meeting held on August 27, 2026. The scrutinizer's report was issued to the company on September 22, 2026. The company published an AGM advertisement in English and Hindi newspapers on August 28, 2026, in compliance with applicable rules. The voting results were submitted to the Bombay Stock Exchange on September 23, 2026, under Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shri Niwas Leasing and Finance reported a profit after tax of ₹105,964.56 lakh for the financial year ended March 31, 2026, marking a significant turnaround from the loss of ₹116,360.56 lakh recorded in FY25. The company’s total income rose to ₹148.50 lakh from ₹62.45 lakh in the previous year.

The Board of Directors approved the audited financial statements and scheduled the 41st Annual General Meeting (AGM) for September 22, 2026. A key agenda item is the issuance of unlisted non-convertible preference shares (NCPS) to augment long-term financial resources.

Financial Performance

The company’s profit before tax stood at ₹105,975.62 lakh, compared to a loss of ₹116,360.43 lakh in FY25. This improvement was driven by a reversal in impairment allowances on financial instruments, which showed a credit of ₹105,943.44 lakh against a debit of ₹116,365.75 lakh in the prior year. Revenue from operations increased to ₹148.48 lakh from ₹62.45 lakh.

Capital Restructuring and NCPS Issue

The board approved the reclassification of authorized share capital to facilitate the issuance of 46,60,00,000 unlisted 1% Non-Convertible Preference Shares (NCPS). The shares will be issued on a preferential basis at a premium of ₹15 per share, aggregating to ₹25 per NCPS. The total potential raise amounts to approximately ₹1,165 crore.

The proposed allottees include Blue Bell Finance Ltd, Edoptica Retail India Ltd, Intellectual Finvest Private Ltd, Shanta Agencies Pvt Ltd, and Twinkle Mercantile & Credits Pvt. Ltd. The NCPS are redeemable within 20 years and carry a dividend rate of 1% per annum.

Governance and AGM Details

Ms. Rajni Tanwar, Managing Director, retires by rotation and offers herself for re-election. The company also seeks approval for the appointment of M/s B Kaushik & Associates as Secretarial Auditor for a four-year term from FY27 to FY30. The cut-off date for determining member eligibility for voting is September 14, 2026.

What the Numbers Show

The substantial profit in FY26 is primarily attributable to the reversal of impairment provisions rather than operational revenue growth. While revenue from operations grew modestly to ₹148.50 lakh, the reversal of ₹105,943.44 lakh in impairment allowances on financial instruments drove the bottom line into positive territory. This highlights a significant adjustment in asset valuation rather than an expansion in core lending or trading activities.