Arman Financial Services Limited has filed its annual disclosure of outstanding Non-Convertible Debentures (NCDs) for the financial year 2025-26 with BSE Limited on April 30, 2026. The filing, submitted in compliance with Para 2.2(b) of Chapter XIV of the SEBI Master Circular dated October 15, 2025, provides detailed information about the company's listed debt securities as of March 31, 2026.

Listing Details of NCDs

The company disclosed seven NCD issuances across different dates during the reporting period. The listing quantities vary significantly, with the largest issuance of 125,000 units in March 2026 and January 2026, while smaller issuances ranged from 4,000 to 7,500 units. All issuances were classified as first issues, with one NCD listed on BSE Limited's Wholesale Debt Market Segment.

Credit Rating Assessment

The NCDs have been rated by two credit rating agencies—Acuite Ratings & Research Limited and CARE Ratings Limited. The current ratings across all five active ISINs stand at A- level, with most carrying a stable outlook. One ISIN (INE109C07113) carries a negative outlook from CARE Ratings Limited. All ratings have been verified as of their respective verification dates.

Payment Status and Compliance

The company confirmed that all interest and redemption payments due on NCDs during FY 2025-26 were made in a timely manner. These payment details have been duly intimated to the stock exchanges in accordance with Regulation 57(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also states that there have been no defaults or delays in servicing any other debt security issued by the company, with the default history information recorded as "Not Applicable."

Arman Financial Services Limited has officially confirmed to stock exchanges that it is not classified as a 'Large Corporate' under the Securities and Exchange Board of India's debt securities framework as of March 31, 2026. The disclosure was made on April 30, 2026, to both BSE Limited and National Stock Exchange of India Limited as part of regulatory compliance requirements.

Regulatory Compliance Framework

The disclosure was made pursuant to Chapter XII of SEBI Master Circular No. SEBI/HO/DDHS/PoD/P/CIR/2025/0000000137 dated October 15, 2025, read with Operational Circular No. SEBI/HO/DDHS/DDHSRACPOD1/P/CIR/2023/172 dated October 19, 2023. These regulations pertain to fund raising by issuance of debt securities by Large Corporates and require entities to make specific disclosures regarding their classification status.

Financial Position and Credit Rating

The company submitted detailed financial information as part of its initial disclosure for financial year 2025-26. Key financial metrics and corporate details are presented below:

The company's outstanding borrowing of Rs. 668.15 crore as of March 31, 2025, appears to be below the threshold that would classify it as a Large Corporate under SEBI's framework. The ACUITE A (Negative) rating indicates a stable credit profile with some concerns that warrant monitoring.

Corporate Governance and Authorization

The disclosure was duly authorized and signed by key corporate officials, demonstrating proper governance protocols. Uttam Patel, Company Secretary, and Vivek Arun Modi, Chief Financial Officer, both digitally signed the disclosure documents on April 30, 2026. This dual authorization ensures compliance with corporate governance standards and regulatory requirements.

Implications for Debt Securities Framework

By confirming its non-classification as a Large Corporate, Arman Financial Services Limited is not subject to the specific requirements and restrictions that apply to Large Corporates under SEBI's debt securities framework. This classification affects the company's fund-raising options and regulatory obligations when issuing debt securities in the capital markets.

The timely submission of this disclosure demonstrates the company's commitment to regulatory compliance and transparent communication with stock exchanges and investors regarding its corporate status under applicable SEBI frameworks.