Northern Arc Capital Limited , a leading diversified Non-Banking Financial Company (NBFC), has confirmed the dispatch of its postal ballot notice on December 24, 2025, seeking shareholder approval for key board appointments. The company previously announced strong financial results for the second quarter ended September 30, 2025, showcasing steady growth across key parameters.

Financial Performance Highlights

The company's financial metrics demonstrate consistent growth across key parameters:

Postal Ballot Notice Dispatch Confirmed

The company has officially dispatched the postal ballot notice dated December 13, 2025, to shareholders through electronic mode. The notice seeks approval for two key board appointments through the remote e-voting process:

Ms. Vidya Krishnan brings extensive expertise in banking, information technology, digital transformation, and business leadership across retail, wholesale, and investment banking. She holds an MBA in Finance and is a Certified Associate of the Indian Institute of Bankers (CAIIB).

Ms. Anuradha Rao has approximately 36 years of experience in banking and finance, having previously worked at the State Bank of India and served as Managing Director and CEO of SBI Funds Management Private Limited. She previously served as an Independent Director of the company for two consecutive terms from October 2019 to October 2025.

E-Voting Schedule and Process

The e-voting facility is being provided by National Securities Depository Limited (NSDL), and the notice is available on the company's website and stock exchange platforms.

Operational Performance

Direct to Customer (D2C) lending increased to 54% of the total AUM. Excluding rural finance, where exposure remains calibrated, D2C AUM grew 32% year-on-year to ₹6,718.00 crore. Performing Credit Fund AUM grew by 14% year-on-year to ₹3,198.00 crore, while placement volumes for H1FY26 were ₹5,399.00 crore.

Management Commentary

Ashish Mehrotra, MD & CEO, commented: "We are witnessing early signs of a credit revival, supported by the repo rate cuts earlier this year and the Government's recent stimulus through GST rate reductions. Our AUM grew 15% YoY and 6% QoQ to ₹14,166 crore. The D2C AUM grew 17% YoY, and excluding rural finance — where exposure remains calibrated — D2C AUM growth stood at a strong 32% YoY."

The company remains confident of achieving its guided AUM growth of 18–20% and Return on Assets (RoA) of around 2.80% for FY26. Northern Arc Capital continues to empower underserved individuals and businesses, having facilitated the financing of over ₹2.30 trillion cumulatively since 2009, impacting the lives of over 129 million people across India.

Northern Arc Capital Limited, a leading player in India's diversified NBFC sector, has announced a significant change in its senior leadership team. The company disclosed that Umasree Parvathy Pratap will be retiring from her position as Chief People Officer, effective October 31, 2025, due to superannuation. Stepping into this crucial role will be Moushumi Mandal, who has been appointed as the new Chief People Officer, effective November 1, 2025.

A Wealth of Experience

Moushumi Mandal brings to Northern Arc Capital a rich tapestry of experience spanning 25 years, with 18 years dedicated to the financial and technology sectors. Her career includes notable stints at global financial institutions such as JPMorgan and Citibank. Prior to joining Northern Arc, Mandal served as the Vice President of HR at the National Stock Exchange of India Limited and held the position of Vice President at Citibank N.A.

Global Perspective

One of Mandal's key strengths is her extensive international exposure. Her career has taken her across multiple geographies, including India, Sri Lanka, Bangladesh, Japan, Singapore, Hong Kong, Australia, and New York. This global perspective is expected to be valuable as Northern Arc Capital continues to grow and evolve in the dynamic financial services landscape.

Educational Background

Mandal's academic credentials are equally impressive. She holds a degree in Microbiology and a postgraduate degree in Management, specializing in Human Resources, from Mumbai University.

Seamless Transition

The company has ensured a smooth transition in this critical role. Umasree Parvathy Pratap, the outgoing Chief People Officer, will conclude her tenure on October 31, 2025, with Moushumi Mandal taking the reins the very next day. This seamless handover is designed to maintain continuity in the company's human resource strategies and initiatives.

Looking Ahead

As Northern Arc Capital continues its journey as a key player in India's financial services sector, the appointment of Moushumi Mandal as Chief People Officer signals the company's commitment to strengthening its leadership team. Her diverse experience across multiple geographies and sectors is expected to bring fresh perspectives to the company's human resource management and contribute to its growth trajectory.

This leadership change comes at a time when the financial sector is undergoing rapid transformation, driven by technological advancements and changing market dynamics. Mandal's blend of experience in both finance and technology sectors positions her well to guide Northern Arc Capital's workforce through these evolving landscapes.