VB Desai Financial Services concluded its 40th Annual General Meeting on September 17, 2026. The meeting, held via video conferencing, saw shareholders approve the adoption of audited financial statements for FY26.

The corporate action included key boardroom changes and transaction approvals.

Key Resolutions

The following businesses were transacted during the session, which began at 11:30 am and ended at 11:52 am:

• Adoption of audited financial statements for the financial year ended March 31, 2026.
• Reappointment of Mr. Manoj T. Shroff (DIN 0330560), who retires by rotation.
• Reappointment of Mr. Hemendra J. Shroff (DIN 00286509) as Executive Director cum Chief Financial Officer.
• Appointment of Mr. Suraj R. Vishwakarma as Non-Executive Independent Director for five years.
• Approval of Related Party Transactions as per the proposed resolution.

Voting Details

The company provided remote e-voting facilities to members from September 14, 2026, at 9:00 am to September 16, 2026, at 5:00 pm. Shareholders present at the AGM via VC/OAVM could also vote if they had not cast their ballots earlier. The e-voting option was disabled at 12:15 pm on the day of the meeting.

The proceedings were conducted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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.