Sumedha Fiscal Services Ltd has confirmed the completion of dispatch for the Notice of its 37th Annual General Meeting (AGM), publishing the intimation in Financial Express (English) and Aajkaal (Bengali) on July 29, 2026. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring shareholders are informed about the upcoming meeting scheduled for August 20, 2026, and the associated e-voting process.

The company’s Board of Directors had previously proposed a final dividend of Re. 1.00 per equity share of ₹10 face value during its meeting on May 24, 2026. This dividend, representing a 10% payout, is subject to approval by members at the AGM. If approved, the dividend will be paid within 30 days post the meeting, with Tax Deducted at Source (TDS) applicable as per the Income Tax Act, 2025. Shareholders must ensure their Permanent Account Number (PAN) and bank details are updated by the record date of August 13, 2026, to avoid a higher TDS rate of 20% under Section 397(2).

AGM and E-Voting Details

The 37th AGM will be held on Thursday, August 20, 2026, at 11:00 a.m. (IST) through Video Conferencing (VC) or Other Audio Visual Means (OAVM), in compliance with Ministry of Corporate Affairs (MCA) General Circular No. 03/2025 and No. 14/2020. The deemed venue for the meeting is the company’s registered office at Kolkata.

Remote e-voting will be facilitated by Central Depository Services (India) Limited (CDSL). The voting window opens on Monday, August 17, 2026, at 9:00 a.m. IST and closes on Wednesday, August 19, 2026, at 5:00 p.m. IST. Only shareholders holding shares as of the cut-off date, August 13, 2026, are eligible to vote. Mr. Anup Kumar Labhi, Company Secretary in Practice, has been appointed as the Scrutinizer to oversee the e-voting process.

Key Dates for Shareholders

Dividend and Compliance Requirements

Under the new tax regime effective April 1, 2026, dividends are taxable in the hands of shareholders. Sumedha Fiscal Services will deduct TDS at prescribed rates before payment. Resident individuals with aggregate dividend income not exceeding ₹10,000 in the financial year face no TDS; otherwise, the standard rate is 10%. Non-resident shareholders face a default TDS rate of 20% plus surcharge and cess unless they provide documentation for Double Tax Avoidance Agreement (DTAA) benefits.

Shareholders must update their KYC details with their Depository Participants (for demat holdings) or Maheshwari Datamatics Private Limited (for physical holdings). Dividends will be paid exclusively through electronic mode. Physical shareholders must furnish PAN, nomination choice, contact details, bank account details, and specimen signatures. Failure to provide valid documentation by the record date will result in withholding of dividends or application of higher TDS rates.

TDS Rates for Resident Members

What the Numbers Show

The confirmation of the AGM notice dispatch marks a procedural milestone for Sumedha Fiscal Services, ensuring regulatory compliance under SEBI Listing Regulations. The modest dividend proposal of Re. 1.00 per share reflects a conservative payout policy, typical for service-oriented firms. The strict adherence to the new Income Tax Act provisions shifts the compliance burden onto shareholders, highlighting the operational risk for investors who fail to maintain current KYC records. With the record date set for August 13, 2026, investors have a narrow window to rectify any discrepancies in their PAN or bank details to ensure timely receipt of funds.

Sumedha Fiscal Services reported a sharp contraction in profitability for the financial year ended March 31, 2026, as standalone net profit after tax (PAT) fell 64% year-over-year to ₹237.63 Lacs. This decline occurred despite a 4.58% increase in total income to ₹11,024.24 Lacs, signaling a significant divergence between top-line growth and bottom-line retention. The company’s earnings per share (EPS) dropped to ₹2.98 from ₹8.25 in the previous year. Shareholders are advised of this performance shift as the company prepares for its 37th Annual General Meeting (AGM) on August 20, 2026, where they will vote on the adoption of these financials and a recommended final dividend.

The Board of Directors recommended a final dividend of Re. 1 per equity share of face value ₹10 each, representing a 10% payout ratio. This maintains the same per-share dividend amount as the prior year. The dividend is subject to shareholder approval at the AGM, which will be held via Video Conferencing/Other Audio-Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs circulars. The record date for determining dividend eligibility has been fixed as August 13, 2026. Investors must update their bank details and KYC information with their Depository Participants or the Registrar and Transfer Agent (RTA), Maheshwari Datamatics Private Limited, to ensure seamless electronic credit.

On a consolidated basis, the group’s total income increased 3.84% to ₹11,028.34 Lacs, while consolidated PAT fell 67% to ₹242.11 Lacs. Profit before tax dropped sharply to ₹309.57 Lacs from ₹848.76 Lacs in FY25. This compression was primarily driven by higher employee benefit expenses, which included a provision of ₹17.48 Lacs recognized for gratuity past service costs under the new Labour Code announced in November 2025. Other income remained relatively stable, indicating that the profit decline was operational rather than due to a collapse in non-operating returns.

The investment banking segment remains the primary revenue driver, contributing significantly to fee-based income. The company also highlighted the operational stability of its partnership in Urushya Fund Management LLP, which acts as the Investment Manager for a Category II Alternative Investment Fund (AIF). This venture has established a robust framework for governance and portfolio compliance, positioning the company to capture upside in the private credit ecosystem. During the year, Urushya Fund Management LLP recorded a revenue of ₹1,63.01 Lacs and a net profit of ₹57.98 Lacs, turning profitable from a net loss in the prior year.

What the Numbers Show

The divergence between revenue growth and profit decline warrants attention. While total income grew by nearly 5%, profit before tax contracted by over 63%. This suggests that cost structures did not scale efficiently with revenue generation. Employee benefits expense rose significantly, partly due to the one-time gratuity provision. Investors should monitor whether the company can improve operating leverage in FY27 to restore profitability trends. Additionally, the company voluntarily delisted its equity shares from the Calcutta Stock Exchange Ltd. effective December 1, 2025, following regulatory approvals. The shares continue to be listed and traded on BSE Limited. During the year, the company transferred 2,433 equity shares to the Investor Education and Protection Fund (IEPF) due to unclaimed dividends.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE886B01012/2b2e7053-8f7e-4f99-8cba-5bbe3d6fb1e3.pdf