Viji Finance Limited has initiated a postal ballot process to secure member consent for the appointment of M/s. DDS & Associates, Chartered Accountants, as its new statutory auditors. This appointment aims to fill the casual vacancy created by the resignation of the previous firm, M/s. Dharmendra K. Agarwal & Co., effective August 22, 2026.

The proposed auditors will hold office until the conclusion of the next Annual General Meeting and will conduct the statutory audit for the financial year ending March 31, 2027. The Board of Directors recommended this appointment on September 2, 2026, following the recommendation of the Audit Committee.

Reason for Auditor Change

The resignation of the outgoing auditors, M/s. Dharmendra K. Agarwal & Co., was primarily attributed to geographical challenges. The firm cited the distance between their office and the company's places of operations as a significant hurdle to regular visits and resource allocation. Prior to resigning, the outgoing firm completed the limited review of financial results for the quarter ended June 30, 2026, and committed to cooperating with the incoming auditors regarding record handovers.

Proposed Appointment Details

M/s. DDS & Associates is a peer-reviewed chartered accountants firm based in Ahmedabad, Gujarat, with Firm Registration Number 120362W. The firm has been empanelled with the Comptroller and Auditor General (CAG) since 2009-10 and with the RBI (MEF) since 2007-08. Its practice areas include audit and assurance, taxation, company law matters, and corporate advisory services.

Voting Process and Timeline

Members are required to cast their votes electronically through the remote e-voting facility provided by Central Depository Services India Limited (CDSL). The notice is being sent exclusively via electronic mode to members whose email addresses are registered with the company or depositories as of October 16, 2026. Hard copies of the postal ballot notice will not be dispatched.

The remote e-voting period commenced on Monday, October 26, 2026, at 9:00 am and will conclude on Tuesday, November 24, 2026, at 5:00 pm. Mr. L.N. Joshi, Practicing Company Secretary, has been appointed as the Scrutinizer for the process. The results of the voting will be announced on or before Thursday, November 26, 2026.

Viji Finance Limited reported a net profit of ₹151.10 lakh for the quarter ended September 30, 2026, marking a significant turnaround from a loss of ₹9.69 lakh in the corresponding period last year.

Total revenue from operations rose sharply to ₹276.54 lakh in Q2FY27, compared to ₹57.58 lakh in Q2FY26. This growth was driven by a substantial increase in interest income and fees and commission income. The company also reported total income of ₹285.23 lakh, up from ₹65.60 lakh in the year-ago quarter.

Financial Performance Overview

The board meeting held on October 14, 2026, approved these unaudited financial results along with the appointment of new statutory auditors via postal ballot. The following table summarizes the key financial metrics for the quarter and half-year periods:

Balance Sheet Expansion

The company’s balance sheet witnessed significant expansion during the period. Total assets grew to ₹5,649.61 lakh as on September 30, 2026, from ₹3,365.35 lakh as on March 31, 2026. This increase is primarily attributed to a rise in loans, which stood at ₹5,207.31 lakh, up from ₹2,943.16 lakh at the end of the previous fiscal year.

Equity share capital increased to ₹2,310.00 lakh following preferential allotments. Other equity reserves also saw a notable jump to ₹2,769.10 lakh from ₹911.29 lakh. Cash and cash equivalents increased to ₹142.90 lakh from ₹43.67 lakh in the same period.

What the Numbers Show

A key observation from the financial data is the shift in revenue composition. Fees and commission income accounted for ₹155.00 lakh in Q2FY27, representing over 56% of total revenue from operations, compared to just ₹0.33 lakh in Q2FY26. This suggests a strategic pivot or significant new business activity contributing to non-interest income streams alongside traditional lending activities.

Additionally, while operating cash flow was negative at ₹2,109.37 lakh for the half-year, this was offset by financing activities generating ₹2,090.64 lakh, largely due to proceeds from the issue of equity shares and securities premium. This indicates that recent capital raises are fueling the expansion of the loan book rather than being held as idle cash.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE159N01027/474ccb08-2a8b-4805-bfdb-52f70ede8d3a.pdf