Garbi Finvest Limited reported a sharp decline in quarterly performance for Q3FY26, with net profit falling 87% year-on-year to ₹16.35 lakhs. The non-banking financial company's results for the quarter ended December 31, 2025, reflect challenging operating conditions and increased provisioning requirements.

Financial Performance Overview

The company's quarterly financial metrics showed significant deterioration across key parameters:

Revenue and Income Analysis

Revenue from operations declined to ₹60.68 lakhs in Q3FY26 from ₹79.93 lakhs in the corresponding quarter of the previous year. The company's total income was significantly impacted by lower profit on sale of investments, which decreased to ₹49.93 lakhs from ₹105.48 lakhs in Q3FY25. Interest income remained relatively stable at ₹1.00 lakh compared to ₹0.90 lakh in the previous year quarter.

Expense Structure and Impairments

Total expenses increased marginally to ₹76.67 lakhs from ₹75.79 lakhs year-on-year. The most significant impact came from impairment on financial instruments, which stood at ₹55.07 lakhs in Q3FY26 compared to nil in the corresponding quarter last year. Employee benefits expenses rose to ₹10.61 lakhs from ₹9.62 lakhs, while other expenses decreased substantially to ₹10.98 lakhs from ₹66.18 lakhs.

Nine-Month Performance

For the nine-month period ended December 31, 2025, the company's performance showed resilience despite quarterly challenges:

Tax Position and Comprehensive Income

The company reported current tax expenses of ₹22.92 lakhs for Q3FY26, compared to ₹27.92 lakhs in Q3FY25. A deferred tax credit of ₹4.33 lakhs was recorded during the quarter. Other comprehensive income showed a loss of ₹102.50 lakhs, primarily due to fair value adjustments on equity instruments, resulting in total comprehensive loss of ₹86.15 lakhs for the quarter.

Auditor's Observations

The statutory auditors noted that the company has not accounted for interest on all loan accounts, expressing inability to comment on the completeness and accuracy of revenue recorded. The financial results were approved by the Audit Committee and Board of Directors on February 13, 2026, following a limited review by the statutory auditors.

Garbi Finvest Limited has issued a comprehensive postal ballot notice seeking shareholder approval for the appointment of three directors through remote e-voting process. The notice, dated January 28, 2026, was submitted to BSE Limited and The Calcutta Stock Exchange Limited under Regulation 30 of SEBI Listing Regulations.

Director Appointments Under Consideration

The postal ballot encompasses three key director appointments that require shareholder approval through special resolutions:

Both independent directors were initially appointed as Additional Directors by the Board on August 18, 2025, while Mr. Deepak Vishwakarma was appointed as Additional Director on November 29, 2025. All three appointments are subject to shareholder approval through this postal ballot process.

E-Voting Schedule and Process

The company has established a comprehensive timeline for the postal ballot process with specific dates for shareholder participation:

The postal ballot notice has been sent to eligible shareholders whose names appear in the Register of Members as on the cut-off date of January 23, 2026. Only shareholders with registered email addresses will receive the notice, as the company is conducting the process entirely through electronic means in compliance with MCA circulars.

Scrutinizer Appointment and Governance

The Board has appointed Mrs. Geeta Roy Chowdhury (COP No. 7741), Partner of M/s. S. R. & Associates, Practicing Company Secretaries, as the scrutinizer for conducting the postal ballot process. The scrutinizer will ensure fair and transparent conduct of the e-voting process and submit a detailed report to the company management.

Shareholders can access the postal ballot notice on the company's website at www.gptl.in and the CDSL e-voting platform at www.evotingindia.com . The resolutions, if approved by requisite majority, will be deemed passed on March 2, 2026, the last date of e-voting.

Director Profiles and Qualifications

Mr. Rakesh Agarwal brings over 8 years of experience as a Chartered Accountant with expertise in bank audits, taxation, and financial advisory services. He currently serves as Partner at SARCS & Associates and has been appointed to the company's Nomination and Remuneration Committee and Audit Committee.

Mrs. Preeti Vijayvargia is a qualified Chartered Accountant and Company Secretary with over a decade of experience in taxation, audit, and financial consultancy. She has conducted statutory audits for major banks including SBI, Dena Bank, and Bank of Maharashtra, and also serves on the Nomination and Remuneration Committee and Audit Committee.

Mr. Deepak Vishwakarma holds a Bachelor of Arts degree and ITI qualification with over three years of professional experience in business operations. He has been appointed to the Nomination and Remuneration Committee and Audit Committee, bringing practical knowledge and managerial skills to the company's governance structure.