Savani Financials has reported a significant increase in its net loss for the quarter ended June 30, amid rising operational costs and major corporate changes. The company also announced plans to rebrand itself as Mantra Capital Limited, subject to regulatory approvals.

Financial Performance

The Mumbai-based financial services company reported a net loss of Rs. 255.52 lakhs for Q1, compared to a loss of Rs. 159.14 lakhs in the same quarter last year. Despite the widening loss, the company saw a substantial increase in its revenue from operations, which rose to Rs. 246.27 lakhs from Rs. 17.53 lakhs year-over-year.

The growth in revenue was primarily driven by:

• Higher interest income of Rs. 182.58 lakhs
• Fees and commission income of Rs. 32.89 lakhs

However, the company's expenses surged significantly to Rs. 506.61 lakhs, with major contributors being:

• Employee benefit expenses at Rs. 296.09 lakhs
• Legal & professional expenses at Rs. 80.92 lakhs

Corporate Changes

In a series of significant announcements, Savani Financials revealed:

1. Name Change: The company plans to change its name from 'Savani Financials Limited' to 'Mantra Capital Limited'. This decision is based on a No Objection Certificate received from the Reserve Bank of India and is subject to approval from the Registrar of Companies.

2. Leadership Changes: Darsh Mehta has resigned from his position as Company Secretary and Compliance Officer.

3. New Appointment: The board has approved the appointment of M/s. Bansal and Company as Secretarial Auditor for a period of five years, subject to shareholder approval at the forthcoming General Meeting.

4. Annual General Meeting: The board has approved the Board Report for the Forty First Annual General Meeting for the financial year 2024-2025.

Savani Financials continues to navigate challenging market conditions while implementing significant corporate changes. The proposed rebranding to Mantra Capital Limited may signal a new strategic direction for the company, even as it grapples with increasing operational costs and widening losses.

Savani Financials Limited , a Mumbai-based financial services company, has announced significant changes to its corporate structure and governance. The company's Board of Directors has approved a series of strategic decisions aimed at repositioning the firm in the financial market.

Proposed Name Change

In a notable development, the Board has given the green light to change the company's name from "Savani Financials Limited" to "Mantra Capital Limited." This rebranding initiative is subject to approval from both the Registrar of Companies and shareholders at an upcoming General Meeting. The company has already secured a No Objection Certificate from the Reserve Bank of India for this change.

To facilitate this transition, the Board has approved alterations to the company's Memorandum and Articles of Association. The proposed changes include updating Clause I of the Memorandum to reflect the new name, "Mantra Capital Limited."

New Secretarial Auditor Appointment

In another key decision, the Board has approved the appointment of M/s. Bansal and Company, Company Secretaries, as the Secretarial Auditor for a period of five consecutive financial years. This appointment is subject to shareholder approval at the forthcoming General Meeting.

M/s. Bansal and Company, established in 2017, is led by CS Lucky Bansal Choudhary, who brings over nine years of experience in corporate strategic advisory services. The firm specializes in various areas, including secretarial audit, due diligence, corporate governance compliance audit, and corporate restructuring advisory services.

Financial Performance

The company also released its unaudited financial results for the quarter ended June 30, 2025. Here are the key highlights:

The company has shown a significant increase in revenue compared to the same quarter last year. However, expenses have also risen substantially, resulting in a higher net loss for the quarter.

Other Board Decisions

The Board meeting, which lasted from 2:20 p.m. to 4:30 p.m. on July 21, 2025, also addressed several other matters:

1. Approval of the unaudited standalone financial results for Q1 FY2026.
2. Acceptance of Mr. Darsh Mehta's resignation from the position of Company Secretary and Compliance Officer.
3. Approval of the Board Report and supporting annexures for the 41st Annual General Meeting for FY 2024-2025.

These strategic moves, particularly the rebranding initiative and the appointment of a new secretarial auditor, signal Savani Financials' intent to refresh its corporate identity and strengthen its governance structures as it moves forward in the competitive financial services sector.