F Mec International Financial Services , a company listed on the BSE, has reported a significant development involving one of its promoter group members. Pankaj Kumar, a key stakeholder in the company, has pledged a portion of his shareholding, as disclosed in a recent regulatory filing.

Pledge Details

According to the disclosure made under Regulation 31(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Pankaj Kumar has pledged 235,625 shares of F Mec International Financial Services. The pledge was created in favor of Grow Money Capital Private Limited, an NBFC (Non-Banking Financial Company).

Shareholding Impact

The pledged shares represent 2.65% of F Mec International's total share capital. This pledge constitutes a significant portion of Kumar's holdings in the company. Prior to the pledge, Kumar held 651,708 shares, accounting for 7.33% of the company's total share capital.

Pledge Breakdown

Regulatory Compliance

The company has confirmed that the pledged shares represent:

• Less than 50% of Kumar's promoter shareholding
• Less than 20% of the company's total share capital

This information ensures compliance with SEBI guidelines on substantial share acquisitions and takeovers.

Purpose of Pledge

The disclosure states that the borrowed amount against the pledged shares will be utilized for personal use by the promoter, in line with regulatory requirements for transparency in such transactions.

Company Background

F Mec International Financial Services is listed on the BSE Limited under the scrip code 539552. The company's registered office is located at 908, 9th Floor, Mercantile House, 15, K.G. Marg, New Delhi-110001.

This pledge transaction highlights the ongoing financial activities within the promoter group of F Mec International Financial Services. Investors and market watchers may want to monitor any further developments or disclosures from the company regarding its promoter holdings and pledges.

F Mec International Financial Services Limited has announced its unaudited financial results for the first quarter, reporting a significant increase in profitability and revenue, showcasing strong performance in its core financial services business.

Financial Highlights

• Net Profit: Rs. 32.83 lacs, up 16% year-over-year (YoY) from Rs. 28.33 lacs
• Total Income: Rs. 197.59 lacs, increased from Rs. 173.91 lacs YoY
• Revenue from Operations: Rs. 197.41 lacs, up from Rs. 173.91 lacs in the same quarter last year
• Earnings Per Share (EPS): Rs. 0.37, improved from Rs. 0.32

Key Performance Drivers

The company's growth was primarily driven by a substantial increase in interest income, which stood at Rs. 152.00 lacs for the quarter. This highlights F Mec International Financial Services' strong position in its core financing business.

Operational Efficiency

Despite the growth in revenue, the company has managed to keep its expenses under control:

Management Commentary

The board of directors, led by Managing Director Apoorve Bansal, approved the results in a meeting held on August 13. The company's management expressed satisfaction with the quarterly performance, emphasizing the strong growth in both revenue and profitability.

Financial Position

F Mec International Financial Services maintains a solid financial position with a paid-up equity share capital of Rs. 889.18 lacs. The company's focus on its core financing activities continues to yield positive results, as reflected in the increased interest income and overall revenue growth.

Auditor's Review

KSJ & CO., Chartered Accountants, conducted a limited review of the financial results. They reported that nothing has come to their attention that causes them to believe that the financial results have not been prepared in accordance with applicable accounting standards and SEBI regulations.

Outlook

While the company has not provided specific forward-looking statements, the strong Q1 performance sets a positive tone for the fiscal year. F Mec International Financial Services' ability to grow its interest income and maintain operational efficiency suggests a focus on sustainable growth in its financial services offerings.

Investors and stakeholders will likely keep a close eye on the company's performance in the coming quarters to see if this growth trajectory continues amidst the evolving financial services landscape.

Note: All figures are in Indian Rupees (Rs.) and are on a standalone basis.