Hybrid Financial Services Reports Strong Profit Growth, Announces 38th AGM

Hybrid Financial Services Limited has reported a significant increase in profit, along with plans for its upcoming 38th Annual General Meeting (AGM).

Financial Performance

The company posted a profit of Rs. 205.93 lakhs, more than doubling from Rs. 88.01 lakhs in the previous year. Total income for the period stood at Rs. 352.97 lakhs. Notably, Hybrid Financial Services reversed contingency provisions of Rs. 465.07 lakhs during the year.

Dividend and Share Redemption

The Board of Directors has approved a 1% dividend on preference shares. Additionally, they have recommended the redemption of Rs. 70.00 lakhs worth of preference shares.

Merger Progress

Hybrid Financial Services is pursuing a merger with its wholly-owned subsidiary Maximus Securities Limited. The National Company Law Tribunal (NCLT) passed a first motion order in November, marking a significant step forward in the merger process.

Board Changes

Key changes to the company's board include:

• Appointment of Dr. Nitin Tike as director
• Resignation of Mahesh S. Makhijani

Upcoming AGM

The company has announced its 38th Annual General Meeting, scheduled for September 12. In light of ongoing precautions, the AGM will be conducted via video conferencing.

Key details for shareholders:

• Date: Friday, September 12
• Time: 11:00 AM
• Mode: Video Conferencing (VC) / Other Audio-Visual Means (OAVM)

Shareholders are advised to update their email addresses with the company or their depository participants to receive the AGM notice and participate in electronic voting.

The notice and annual report will be available on the company's website ( www.hybridfinance.co.in ) and the stock exchange websites.