SKP Securities Ltd re-appointed Anil Shukla and Nikunj Pachisia as directors at its 36th Annual General Meeting held on September 12, 2026. The company also secured near-unanimous shareholder approval for its audited financial statements for FY26.

The meeting was conducted via video conferencing. Shareholders passed all resolutions with 99.99% support. A total of 5,642,529 votes were cast in favor out of 5,642,567 total votes polled. Only 38 votes were cast against the proposal.

Director Re-Appointments

The board re-appointed two key executives following the AGM resolutions:

• Anil Shukla: Re-appointed as Whole-time Director and Chief Financial Officer. He brings 34 years of experience in accounting, finance, and taxation. His last drawn remuneration was ₹40 lakh per annum.
• Nikunj Pachisia: Re-appointed as Executive Director. He has 17 years of experience in capital markets, including equity research and institutional equities. His last drawn remuneration was ₹50 lakh per annum.

Both directors attended all four board meetings held during FY26. Neither holds directorships in other companies, except for Mr. Pachisia, who serves on the boards of SKP Commodities Limited and EO Bridge Forum.

Voting Breakdown

Promoter and promoter group shareholders held 5,105,762 shares and cast all votes in favor of the resolution to adopt the financial statements for the year ended March 31, 2026. This represented 100% of their outstanding shares.

Public non-institutional holders participated more actively in terms of vote count relative to holdings. They held 1,703,038 shares but polled 536,785 votes through remote e-voting alone. The total votes polled by this category stood at 564,256, which is approximately 31.52% of their outstanding shares.

Resolution Outcome

The agenda included receiving, considering, and adopting the Audited Financial Statements of the Company for the Financial Year ended March 31, 2026, along with the Reports of the Board of Directors and Auditors. The promoters declared no interest in this agenda item.

What the Numbers Show

The voting data reveals a stark contrast in engagement levels between promoter and public shareholders. While promoters voted 100% of their holdings, public non-institutional shareholders polled only 31.52% of their available votes. Despite this lower turnout, the overwhelming majority of participating public shareholders supported the resolution, indicating strong alignment with management despite limited overall participation.

SKP Securities has fixed Saturday, September 5, 2026, as the record date for determining shareholders eligible for the final dividend for FY26. The Kolkata-based stockbroker reported a net profit of ₹1,034.75 crore for the fiscal year ended March 31, 2026, a 3.6% increase from ₹998.95 crore in FY25.

The Board of Directors has recommended a final dividend of ₹2 per equity share (face value ₹10), representing a 20% payout. This dividend is subject to shareholder approval at the 36th Annual General Meeting scheduled for September 12, 2026. If declared, the dividend will be paid within 30 days to members whose names appear on the register as on the record date. In accordance with the Income Tax Act, 2025, as amended by the Finance Act, 2026, the dividend is taxable in the hands of members. The company will deduct tax at source (TDS) from the dividend at prescribed rates if approved at the AGM.

Financial Performance

The company’s financial results for the fiscal year highlight steady top-line expansion with modest bottom-line growth.

Revenue from operations stood at ₹4,102.27 crore, comprising interest income of ₹716.96 crore and brokerage and fees income of ₹3,383.87 crore. Interest income grew significantly, driven by higher margin funding activities, while brokerage income expanded due to increased distribution and broking services.

What the Numbers Show

While total income grew by over 10%, net profit growth lagged at 3.6%, indicating pressure on margins. Total expenses rose 13.5% to ₹2,716.08 crore, outpacing revenue growth. This divergence was primarily driven by a sharp increase in finance costs, which jumped 67.4% to ₹140.25 crore from ₹83.85 crore in the prior year. The company attributed this rise to higher borrowing quantum, particularly for providing Margin Trading Facility (MTF) to clients. Despite the interest income from MTF increasing by 44%, EBITA remained stagnant, leading to a decline in the Interest Service Coverage Ratio from 14.84 times to 8.88 times.

Dividend Taxation Details

Shareholders are required to update their KYC details to ensure correct TDS deduction. For resident individual members, no TDS is deducted if the aggregate dividend does not exceed ₹10,000. For amounts exceeding this limit, a 10% TDS applies with valid PAN. A 20% TDS rate applies if PAN is not linked with Aadhaar or is invalid. Non-resident shareholders face a 20% TDS plus applicable surcharge and cess, though they may claim benefits under Double Tax Avoidance Agreements (DTAA) by submitting requisite documents such as Tax Residency Certificates and Form 41.

Documents must be submitted via the registrar’s portal or by post on or before September 5, 2026. Failure to provide valid documents may result in withholding tax at the higher prescribed rates. Shareholders holding shares in demat mode are advised to keep bank details updated with their depository participants.

Corporate Governance and Leadership

The AGM will also see the re-appointment of Mr. Anil Shukla as Whole-time Director and Chief Financial Officer. Additionally, shareholders will vote on the re-appointment of Mr. Nikunj Pachisia as Executive Director for three years, with his remuneration increasing from ₹50 lakh to ₹65 lakh per annum.

Mr. Santanu Ray, an Independent Director, ceased to be a director on April 18, 2026, following his demise. The Board appointed Ms. Suparna Chakrabortti as an Independent Director effective October 1, 2025.

Future Outlook

Management described the operating environment as "VUCA" (Volatile, Uncertain, Complex, Ambiguous), citing geopolitical issues and tariff-related challenges. However, it noted that India remains the fastest-growing large economy with moderating inflation. The company expects equity valuations to have moderated, potentially setting the stage for a recovery in financial markets if geopolitical crises resolve. It plans to maintain cautious optimism while keeping a close watch on expenses and risks.