SPA Capital Services schedules 42nd AGM on September 30, 2026
- SPA Capital Services has scheduled its 42nd AGM for September 30, 2026, at its registered office in Janakpuri, New Delhi
- FY26 profit after tax rose to Rs. 8,341 thousand from Rs. 4,945 thousand in FY25, with revenue from operations at Rs. 3,86,160 thousand
- Shareholders will vote on related party transactions up to ₹50 crore per financial year per related party
- Ms. Sonia Batra is proposed as Non-Executive Independent Director for five years; Mr. Ritesh Tanwar's appointment as Independent Director is up for regularisation
- Statutory auditors issued a qualified opinion citing non-provision of Rs. 7,706 thousand in interest on loans taken and Rs. 31,420 thousand against loss assets on loans given
*this image is generated using AI for illustrative purposes only.
SPA Capital Services has scheduled its 42nd Annual General Meeting for September 30, 2026, at 11:00 am at its registered office in Janakpuri, New Delhi. The board approved the AGM notice on September 4, 2026.
The meeting will address ordinary business including adoption of audited financial statements for FY26. Mrs. Honey Parwal retires by rotation and offers herself for re-appointment as a Non-Executive Director. The company's FY26 financial results show revenue from operations of Rs. 3,86,160 thousand and profit after tax of Rs. 8,341 thousand, up from Rs. 4,945 thousand in FY25.
Financial performance
The following table summarises the company's key financial results for FY26 compared with FY25 (Rs. in Thousands):
| Particulars | FY26 | FY25 |
|---|---|---|
| Revenue from operations | 3,86,160 | 3,29,409 |
| Total income | 3,86,210 | 3,29,409 |
| EBITDA | 17,204 | 16,146 |
| Finance costs | 2,692 | 4,177 |
| Depreciation and amortisation | 3,904 | 1,855 |
| Profit before tax | 10,062 | 8,046 |
| Profit after tax | 8,341 | 4,945 |
| Earnings per share (₹) | 2.71 | 1.61 |
The company reported total revenue of Rs. 3,86,210 thousand and EBITDA of Rs. 17,204 thousand for FY26. An amount of Rs. 10,355 thousand has been transferred to the Reserve Fund as required under Section 45-IC of the RBI Act, 1934. No dividend has been recommended for FY26.
Special business resolutions
Shareholders will vote on the following special resolutions at the AGM:
- Related party transactions: Approval is sought for transactions with related parties up to a maximum aggregate value of ₹50 crore each financial year with each related party, at arm's length and in the ordinary course of business.
- Independent director appointment: Ms. Sonia Batra (DIN: 11927055), a Chartered Accountant with 24 years of experience in financial strategy, corporate finance and governance, is proposed as Non-Executive Independent Director for five consecutive years commencing September 30, 2026 to September 29, 2031.
- Regularisation: Mr. Ritesh Tanwar (DIN: 11379708), appointed as Additional Director (Non-Executive Independent) with effect from November 14, 2025, requires regularisation for an initial term of five years from November 14, 2025 to November 13, 2030.
Director profile: Mrs. Honey Parwal
| Parameter | Details |
|---|---|
| DIN | 00025835 |
| Date of first appointment | September 25, 2017 |
| Qualifications | B.Sc. (Hons.) |
| Experience | Over two decades in Human Resources, Administration and Management |
| Shareholding | 1,75,000 equity shares (5.69%) |
| Board meetings attended (FY26) | 8 |
Meeting logistics and e-voting
The register of members and share transfer books will remain closed from September 23, 2026 to September 30, 2026 (both days inclusive). Remote e-voting opens on September 27, 2026 at 9:00 am and closes on September 29, 2026 at 5:00 pm. The e-voting cut-off date is September 23, 2026. M/s. Mohan Upreti and Co. (FCS 4179, COP No. 26571) has been appointed as scrutinizer for the e-voting process. Voting results will be declared within two working days of the conclusion of the AGM.
Auditor observations
Statutory auditors M/s Dhana & Associates (ICAI FRN: 510525C) issued a qualified opinion on the standalone financial statements. The qualifications relate to: (1) non-provision of interest of Rs. 7,706 thousand on certain loans taken, which would have reduced profit by the same amount; and (2) non-provision of Rs. 31,420 thousand against loss assets on loans given, contrary to RBI NBFC guidelines, resulting in an overstatement of profit and loan assets by the same amount. Management has stated that interest on loans taken has not been provided due to ongoing disputes, and that principal recovery on loans given is expected.
The secretarial audit report by M/s HKB & Associates (COP No. 21001) does not contain any qualifications, reservations or adverse remarks.
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE726X01014/21a7a8f8-63f7-4307-af5f-132c870d6c74.pdf
Historical Stock Returns for SPA Capital Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.87% | +12.92% | 0.0% | 0.0% | +26.51% | +292.34% |
How will the statutory auditors' qualified opinion regarding non-provision of interest and loss assets impact SPA Capital's future credit ratings and borrowing costs?
What specific strategies will management implement to resolve the ongoing disputes over loan interest and recover principal from non-performing assets to regularize financial reporting?
How might the appointment of Ms. Sonia Batra and the regularization of Mr. Ritesh Tanwar influence the company's governance standards and strategic direction in the NBFC sector?
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