MK Ventures Capital Reports Q1 Profit, Announces Auditor Change and Dividend
MK Ventures Capital Ltd (MKCL) reported a consolidated profit after tax of Rs 428.96 crore for Q1 ended June 30, with total income at Rs 655.17 crore. The company's board approved quarterly results, recommended a final dividend of Rs 0.25 per equity share, and announced a change in statutory auditors. M/s. S K Patodia & Associates LLP will replace M/s. ARSK & Associates, subject to shareholder approval at the upcoming AGM on September 25. The company's segment-wise performance showed strong revenues in Loans and Investment (Rs 357.25 crore) and Consultancy (Rs 289.75 crore).
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MK Ventures Capital Ltd (MKCL) has reported a robust financial performance for the first quarter, along with several key corporate announcements. The company's board meeting, held on August 7, approved the quarterly results and made decisions on auditor appointment and dividend distribution.
Financial Performance
For the quarter ended June 30, MKCL reported a consolidated profit after tax of Rs 428.96 crore. The company's total income for the quarter stood at Rs 655.17 crore, with revenue from operations contributing Rs 602.69 crore.
Segment-wise Performance
MKCL's financial results revealed strong performances across its business segments:
| Segment | Revenue (Rs crore) |
|---|---|
| Loans and Investment | 357.25 |
| Consultancy | 289.75 |
| Others | 8.17 |
Auditor Change
The board announced the resignation of M/s. ARSK & Associates as the company's statutory auditors, as they complete their three-year term at the conclusion of the upcoming 34th Annual General Meeting (AGM).
The board has approved the appointment of M/s. S K Patodia & Associates LLP as the new statutory auditors. Subject to shareholder approval at the AGM, they will serve for a term of three consecutive years, from the 34th AGM until the conclusion of the 37th AGM.
Dividend Announcement
The board has recommended a final dividend of Rs 0.25 per equity share (face value Rs 10) for the previous financial year. This dividend is subject to shareholder approval at the upcoming AGM and, if approved, will be paid within 30 days of the meeting.
Annual General Meeting
MKCL's 34th Annual General Meeting is scheduled for September 25. The board has approved the draft notice for the AGM, along with various annual reports including:
- Board's Report
- Corporate Governance Report
- Management Discussion & Analysis Report
- Business Responsibility & Sustainability Report
Insider Trading Window
In compliance with SEBI regulations, the trading window for dealing in the company's securities will reopen on August 11 for all designated persons, including employees, directors, key managerial personnel, and their immediate relatives.
The board meeting commenced at 12:20 p.m. and concluded at 01:20 p.m.
These developments signal MK Ventures Capital's commitment to transparency, corporate governance, and shareholder value. The company's strong financial performance, coupled with the dividend announcement, may be viewed positively by investors. The change in auditors aligns with regulatory requirements and corporate best practices.
Historical Stock Returns for MK Ventures Capital
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.32% | -1.45% | -11.16% | +14.42% | -24.73% | +7,168.93% |
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