Credent Global Finance Limited has announced the reappointment of Mr. Samir Agarwal as its Chief Executive Officer (CEO) for the financial year 2025-2026. The decision, made by the company's board, underscores their confidence in Agarwal's leadership and strategic vision.

Reappointment Details

The reappointment, effective for the upcoming financial year, has been executed in full compliance with the Companies Act, 2013 and the Securities and Exchange Board of India (SEBI) regulations. This move signals the company's commitment to maintaining strong and consistent leadership at its helm.

Board's Confidence

The Board of Directors expressed strong confidence in Mr. Agarwal's capabilities. They highlighted his strategic vision and operational excellence as key factors that are expected to further strengthen the company's growth trajectory. This vote of confidence suggests that under Agarwal's continued guidance, Credent Global Finance is poised for potential expansion and enhanced performance in the coming fiscal year.

Regulatory Compliance

The company has duly informed the BSE Ltd about this reappointment, adhering to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This prompt disclosure aligns with the company's commitment to transparency and regulatory compliance.

Company Overview

Credent Global Finance Limited, formerly known as Oracle Credit Limited, is headquartered in Mumbai. The company is a financial services provider, and the reappointment of its CEO is a significant development for stakeholders and market observers alike.

The reappointment of Samir Agarwal as CEO for another term reflects Credent Global Finance's strategy for maintaining leadership continuity. As the financial landscape continues to evolve, the company appears to be banking on Agarwal's experience and vision to navigate future challenges and opportunities in the financial year 2025-2026.

Credent Global Finance Limited , a prominent player in the financial services sector, has announced its financial results for the first quarter, along with several key corporate decisions.

Financial Performance

The company reported a standalone net profit of Rs 55.91 crore for Q1, compared to Rs 86.57 crore in the same quarter last year. While this represents a year-on-year decline, it's important to note the challenging economic environment prevailing in the financial sector.

Total income for the quarter reached Rs 274.28 crore, up from Rs 204.32 crore in the corresponding quarter of the previous year, indicating a robust growth in revenue generation. This increase was primarily driven by higher interest income and other operating income.

On a consolidated basis, Credent Global Finance posted a net profit of Rs 28.92 crore for the quarter, reflecting the performance of its subsidiaries and associated entities.

Key Financial Highlights (Standalone)

Corporate Developments

The Board of Directors, in their meeting, approved several significant measures:

1. Appointment of Secretarial Auditor: M/s Sumit Bajaj and Associates, Practicing Company Secretaries, have been appointed as the Secretarial Auditor for five consecutive financial years from FY 2025-26 to FY 2029-30, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

2. Director's Report Approval: The Board approved the Director's Report along with annexures for the previous financial year.

3. AGM Notice: The notice for the Annual General Meeting was considered and approved, including proposed resolutions and explanatory statements.

4. E-voting Scrutinizer: M/s Sumit Bajaj and Associates have also been appointed as scrutinizers for the e-voting process and scrutiny of the Annual General Meeting results.

Management Commentary

Aditya Vikram Kanoria, Managing Director & CFO of Credent Global Finance Limited, stated, "Despite the challenging market conditions, our company has demonstrated resilience with a growth in total income. We continue to focus on strengthening our core business while exploring new opportunities for sustainable growth."

Looking Ahead

As Credent Global Finance navigates through the evolving financial landscape, the company remains committed to enhancing shareholder value and maintaining strong corporate governance practices. The appointment of a new secretarial auditor underscores the company's dedication to regulatory compliance and transparency.

Investors and stakeholders will be keenly watching how the company's strategies unfold in the coming quarters, especially in light of the current economic scenario and the competitive financial services market.