Ushakiran Finance will hold its 40th Annual General Meeting on Tuesday, September 29, 2026, at 1:00 pm. The meeting will be conducted via video conferencing or other audio-visual means as permitted by Ministry of Corporate Affairs circular no. 03/2025 dated September 22, 2025.

Meeting Agenda and Business

The primary agenda includes receiving, considering, and adopting the audited financial statements for the year ended March 31, 2026. The Board of Directors and Auditors' reports accompanying these statements will also be presented for approval.

Additionally, shareholders will vote on the reappointment of T. R. Sekhar as a Director. He retires by rotation and is eligible for reappointment. Sekhar, who holds 15,004 equity shares as of March 31, 2026, is the son of Chairman T. Adinarayana. He has attended all five board meetings during the year.

E-Voting and Participation Details

The company has appointed Central Depository Services (India) Limited (CDSL) to facilitate remote e-voting and the VC/OAVM facility. The e-voting period begins on Saturday, September 26, 2026, at 9:00 am and ends on Monday, September 28, 2026, at 5:00 pm.

Shareholders holding shares on the record date of September 22, 2026, are eligible to vote. Institutional and corporate shareholders must submit scanned copies of their board resolutions authorizing representatives to attend and vote.

Key Logistics

• Record Date: September 22, 2026
• Meeting Date: September 29, 2026
• Mode: Video Conferencing / Other Audio Visual Means
• E-Voting Agency: CDSL
• Scrutinizer: N. Mallikarjuna Rao, Chartered Accountant

The register of members and share transfer books will remain closed from Wednesday, September 23, 2026, to Tuesday, September 29, 2026, inclusive. Physical attendance is dispensed with, and proxy appointment facilities are not available for this meeting.

Ushakiran Finance reported a net loss of ₹4.36 lakh for FY26, a sharp reversal from the ₹24.38 lakh profit recorded in FY25. The decline was driven by an 18% drop in gross income to ₹47.23 lakh, alongside higher impairment charges on financial instruments.

The company, classified as a non-systemically important non-deposit taking NBFC under RBI's scale-based regulation framework, will hold its 40th Annual General Meeting on September 29, 2026. The meeting aims to adopt audited financial statements and approve the reappointment of director T. R. Sekhar.

Financial Performance

Gross income for the year ended March 31, 2026, stood at ₹47.23 lakh, down from ₹55.40 lakh in the previous year. Interest income from loans and advances decreased to ₹17.44 lakh from ₹21.65 lakh. Dividend income remained stable at ₹10.83 lakh, while net gains on fair value changes rose to ₹17.71 lakh against ₹9.44 lakh last year.

Other income contracted significantly to ₹0.35 lakh from ₹12.34 lakh, primarily due to the absence of bad debt recoveries that contributed ₹12.00 lakh in FY25. Total expenses increased to ₹45.53 lakh from ₹26.00 lakh, largely influenced by a ₹16.84 lakh net loss on fair value changes in mutual funds, compared to nil in the prior period.

*Proxy calculated as Profit before Depreciation, Finance Costs, and Tax.

Balance Sheet Signals

Total assets declined to ₹1,353.77 lakh from ₹1,684.11 lakh. Investments, which constitute the bulk of the asset base, fell to ₹1,217.42 lakh from ₹1,569.91 lakh. Cash and cash equivalents dropped sharply to ₹8.25 lakh from ₹28.89 lakh, reflecting reduced liquidity buffers.

Loans outstanding increased to ₹83.03 lakh (net) from ₹63.18 lakh, with gross loans rising to ₹119.73 lakh from ₹98.17 lakh. Credit-impaired loans remained relatively stable at ₹27.48 lakh. The current ratio eased to 10.63 from 16.92, indicating a tightening of short-term liquidity relative to liabilities.

What the Numbers Show

The profitability shift is heavily influenced by non-recurring items. In FY25, other income included ₹12.00 lakh from bad debt recoveries, which constituted nearly half of the total other income. The absence of such recoveries in FY26, combined with a ₹16.84 lakh fair value loss on mutual fund investments, turned a modest pre-tax profit of ₹1.70 lakh into a net loss. Operational interest income declined moderately, suggesting underlying lending activity remains present but less lucrative than the prior year's recovery-driven results.

Corporate Governance

The Board of Directors did not recommend a dividend for FY26 to conserve resources. No transfers were made to the General Reserve. T. R. Sekhar, who retires by rotation, offers himself for reappointment. The company has no subsidiaries, joint ventures, or associate companies. Statutory auditors NSVR & Associates LLP issued an unqualified report, noting adequate internal financial controls.