Sumedha Fiscal Services Ltd. has withdrawn its proposed preferential issue of 4,00,000 equity shares and 2,50,000 convertible warrants, citing volatile market conditions and the unwillingness of the proposed investor to proceed. The Board of Directors decided to cancel the capital raise, which was initially valued at ₹2,66,82,500, due to fluctuations in the market price of the company's equity shares. Consequently, the Extra-Ordinary General Meeting (EGM) scheduled for June 11, 2026, to seek shareholder approval has been cancelled.

The company stated that the approval to create, offer, issue, and allot equity shares and convertible warrants on a preferential basis was the only business to be transacted at the EGM. Following the withdrawal, the remote e-voting process, scheduled to commence on June 08, 2026, and conclude on June 10, 2026, has also been withdrawn. The company has published notices in the Financial Express and Aajkaal, both dated June 08, 2026, to intimate shareholders about the cancellation.

Proposed Allocation Details

The preferential issue was intended to raise funds for augmenting the capital base and general corporate purposes. The company had allocated ₹2,00,11,875 to strengthen net worth and maintain working capital liquidity, while ₹66,70,625 was earmarked for general corporate purposes. The issue price was determined at ₹41.05 per share and warrant, inclusive of a premium of ₹31.05, based on a valuation report from an independent registered valuer.

The company confirmed that it will not proceed with the issue and allotment of the equity shares and convertible warrants as previously contemplated. The Board expressed regret for the inconvenience caused to the members of the company on account of the cancellation.

Sumedha Fiscal Services Ltd. reported a decline in its standalone net profit to ₹237.62 lakh for the financial year ended March 31, 2026, compared to ₹658.64 lakh in the previous year. For the quarter ended March 31, 2026, the company recorded a net loss of ₹211.11 lakh. The board of directors has recommended a dividend of Re 1 per equity share with a face value of ₹10 each, subject to shareholder approval at the 37th Annual General Meeting.

The board, in its meeting held on May 24, 2026, approved the standalone and consolidated audited financial statements. The record date for determining eligibility for the final dividend is fixed as Thursday, August 13, 2026. The financial results were prepared in compliance with the Indian Accounting Standards (Ind AS) and the NBFC format prescribed under the Companies Act, 2013.

Financial Performance

Total revenue from operations for FY26 stood at ₹10,943.18 lakh, a marginal increase from ₹10,157.98 lakh in FY25. For the quarter ended March 31, 2026, revenue from operations was ₹2,867.63 lakh. On a consolidated basis, the company reported a net profit of ₹242.11 lakh for the year, down from ₹727.97 lakh in the previous year. Consolidated revenue from operations for the year was ₹10,966.51 lakh.

Board Decisions

The board approved the re-appointment of M/s ALP & Associates, Chartered Accountants, as the Internal Auditor for FY26-27 based on the Audit Committee's recommendation. The auditors, M/s V. Singhi & Associates, issued an unmodified opinion on the standalone and consolidated financial results. The company also approved the notice for the 37th Annual General Meeting.