V B Desai Financial Services reported a 55.68% rise in net profit after tax to ₹86.90 lakh for FY26, up from ₹55.82 lakh in the previous year. Gross income grew 18.27% to ₹393.58 lakh, supported by higher advisory fees and interest income.

The Category I Merchant Banker has scheduled its 40th Annual General Meeting (AGM) for September 17, 2026. The meeting will be held via Video Conferencing or Other Audio Visual Means (OAVM). Share transfer books will remain closed from September 11, 2026, to September 16, 2026.

Financial Performance

The company’s profit before tax stood at ₹116.80 lakh, compared to ₹76.82 lakh in FY25. Total expenses increased to ₹276.78 lakh from ₹255.97 lakh, primarily due to higher employee benefits and other operational costs. The Board did not recommend any dividend for FY26, citing working capital requirements.

What the Numbers Show

Other income contributed significantly to the bottom line, rising to ₹109.75 lakh from ₹49.74 lakh in FY25. This segment accounted for approximately 27.8% of total gross income, highlighting the company's reliance on interest income from deposits alongside its core merchant banking fees of ₹283.83 lakh.

AGM Agenda and Corporate Actions

Shareholders will consider several ordinary and special business items at the upcoming AGM:

• Re-appointment of Director: Mr. Manoj T. Shroff retires by rotation and has offered himself for re-appointment.
• Executive Director cum CFO: Appointment of Mr. Hemendra Jitendra Shroff for five years, effective August 17, 2026, with a monthly salary of ₹40,000.
• Independent Director: Appointment of Mr. Suraj R. Vishwakarma as Non-executive Independent Director for five years.
• Related Party Transactions: Omnibus consent for transactions with Aarayaa Advisory Services Private Limited (up to ₹3 crore), Desai Investments Private Limited (up to ₹2 crore), and VBD Capital Advisors Private Limited (up to ₹25 lakh).

E-Voting Details

Remote e-voting will commence on September 14, 2026, at 9:00 am and conclude on September 16, 2026, at 5:00 pm. The cut-off date for voting eligibility is September 10, 2026. National Securities Depository Limited (NSDL) will facilitate the e-voting process.

VB Desai Financial Services has reshuffled its board composition with the appointment of two key executives during its board meeting on August 17, 2026. The company appointed Mr. Suraj Ravishchandra Vishwakarma as a Non-Executive Independent Director and elevated existing Non-Executive, Non-Independent Director Mr. Hemendra Jitendra Shroff to the role of Non-Independent Executive Director cum Chief Financial Officer.

The appointments were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The changes also triggered the reconstitution of several statutory committees within the company.

Board Appointments

Mr. Suraj Ravishchandra Vishwakarma brings over 10 years of experience in Cyber Law, Criminal Law, and Civil Law. He holds qualifications in B.Com, LLM, and a Post Graduate Diploma in Cyber Law. He is not related to any director, promoter, or promoter group of the company and holds no directorships in other listed companies.

Mr. Hemendra Jitendra Shroff, who joins the executive team, has more than 27 years of experience in investment banking and related businesses. He is related to promoters Mr. Jitendra R. Shroff, Mr. Pradip R. Shroff, and Mr. Manoj T. Shroff.

Committee Reconstitution

Following the appointments, the company reconstituted its Audit, Nomination and Remuneration, Stakeholders Grievance, and Risk Management Committees.

Audit Committee

Nomination and Remuneration Committee

Stakeholders Grievance Committee

Risk Management Committee