The Board of Directors of smc credits has approved the re-appointment of Ms. Jyoti Rajshree as an Independent Director for a second term spanning five years. The decision was taken during a board meeting held on July 28, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The new term commences on September 09, 2026, and concludes on September 8, 2031, pending final ratification by shareholders.

This governance move ensures continuity in the company’s independent oversight structure. Ms. Rajshree’s re-appointment requires approval from shareholders, which the Board intends to seek through an Extra-Ordinary General Meeting (EGM). The Board has also approved the notice for this EGM to facilitate the requisite shareholder consent.

Key Appointment Details

Ms. Rajshree brings extensive legal expertise to the Board. Aged 43, she holds an L.L.B. degree from CCS University, obtained in 2010, and has been practicing as an independent lawyer since then. Her profile highlights rich experience in the field of law, which contributes to the regulatory and compliance robustness of the Board. She is not related to any other directors of the Company and is not debarred from holding office by any SEBI order or other authority.

Internal Auditor Appointment

In addition to the director appointment, the Board approved the appointment of Mr. Rajesh Goenka as the Internal Auditor for the Financial Year 2026-27. Mr. Goenka, who serves as the Whole Time Director & CFO of the Company, has over 12 years of experience in the NBFC business and is a commerce graduate. His appointment aims to strengthen internal audit mechanisms for the upcoming fiscal year.

Regulatory Compliance

The disclosures were made pursuant to Regulation 30 of the SEBI Listing Regulations and Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated January 30, 2026. The Board meeting commenced at 5:00 P.M. (IST) and concluded at 5:32 P.M. (IST) on July 28, 2026. The resolutions were signed by Mr. Rajesh Goenka, Whole Time Director & CFO, DIN: 00298227.

SMC Credits reported a 160% increase in net profit for the financial year ended March 31, 2026, reaching ₹3,254.62 lakh compared to ₹1,251.62 lakh in the previous year. The company's revenue from operations for FY26 stood at ₹2,543.38 lakh, a significant rise from ₹1,530.73 lakh in FY25. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026.

For the fourth quarter ended March 31, 2026, the company reported a net loss of ₹300.18 lakh, compared to a net profit of ₹339.45 lakh in the same period of the previous year. Income from operations for Q4FY26 was ₹194.69 lakh, down from ₹329.79 lakh in Q4FY25. The statutory auditors, M/s. Kumar Ashwani & Associates, issued an unmodified opinion on the financial results.

The company's total comprehensive income for FY26 was negative at ₹(8,932.00) lakh, primarily due to a net loss of ₹12,186.62 lakh on the fair value of equity instruments. In contrast, the total comprehensive income for FY25 was ₹18,011.47 lakh, driven by a net gain of ₹16,759.85 lakh on fair value changes. The paid-up equity share capital remained unchanged at ₹2,505.55 lakh.

Financial Performance Summary

The board also reviewed the Statement of Deviation or Variation for the proceeds of a rights issue raised on December 29, 2022. The total amount raised was ₹1,503.33 lakh, and the company confirmed there was no deviation in the utilization of funds for the quarter ended March 31, 2026. The funds were utilized for augmenting the capital base and general corporate purposes.

M/s. Kumar Ashwani & Associates, Chartered Accountants, highlighted in their report that the audit trail feature in the company's accounting software was not operating effectively during the reporting period for all relevant transactions. Consequently, the auditors were unable to verify the integrity of the audit trail throughout the year. Despite this, the auditors affirmed that the company has adequate internal financial controls over financial reporting that were operating effectively as of March 31, 2026.