Garbi Finvest Limited has announced that all three resolutions proposed in its postal ballot notice dated January 28, 2026 have been rejected by shareholders for failing to receive the requisite majority. The company informed stock exchanges BSE and CSE about the outcome on March 5, 2026, following the conclusion of the remote e-voting process.

Postal Ballot Process and Timeline

The remote e-voting facility was made available to shareholders from February 1, 2026 at 10:00 a.m. to March 2, 2026 at 5:00 p.m., in compliance with the Companies Act, 2013 provisions. The voting rights were determined based on shareholding as of January 23, 2026, which served as the cut-off date. Niche Technologies Private Limited provided the e-voting services as the company's Registrar and Transfer Agent.

Resolution Details and Voting Results

All three resolutions required special resolution approval but failed to secure the necessary support from shareholders. The detailed voting breakdown shows a consistent pattern across all resolutions:

Shareholder Category Breakdown

The voting pattern revealed significant opposition from the promoter group, which holds substantial influence in the company's shareholding structure:

Scrutinizer's Report and Compliance

Geeta Roy Chowdhury of S.R. & Associates served as the appointed scrutinizer for the postal ballot process. The scrutinizer's report dated March 5, 2026 confirmed that the company completed all procedural requirements, including dispatch of notices on January 30, 2026 through email and publication of advertisements in Free Press Journal and Nav Shakti Mumbai on January 31, 2026.

The votes were unblocked on March 5, 2026 in the presence of two witnesses, Mr. Pratham Kothari and Ms. Khusboo Jha, who are not employees of the company. The voting results have been made available on the company's website at www.gptl.com and on the Central Depository Services Limited website as per regulatory requirements.

Regulatory Compliance

The postal ballot process was conducted in accordance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the relevant provisions of the Companies Act, 2013. The company has fulfilled its obligation to inform stock exchanges and make the results publicly available through appropriate channels.

Garbi Finvest Limited reported a sharp decline in quarterly performance for Q3FY26, with net profit falling 87% year-on-year to ₹16.35 lakhs. The non-banking financial company's results for the quarter ended December 31, 2025, reflect challenging operating conditions and increased provisioning requirements.

Financial Performance Overview

The company's quarterly financial metrics showed significant deterioration across key parameters:

Revenue and Income Analysis

Revenue from operations declined to ₹60.68 lakhs in Q3FY26 from ₹79.93 lakhs in the corresponding quarter of the previous year. The company's total income was significantly impacted by lower profit on sale of investments, which decreased to ₹49.93 lakhs from ₹105.48 lakhs in Q3FY25. Interest income remained relatively stable at ₹1.00 lakh compared to ₹0.90 lakh in the previous year quarter.

Expense Structure and Impairments

Total expenses increased marginally to ₹76.67 lakhs from ₹75.79 lakhs year-on-year. The most significant impact came from impairment on financial instruments, which stood at ₹55.07 lakhs in Q3FY26 compared to nil in the corresponding quarter last year. Employee benefits expenses rose to ₹10.61 lakhs from ₹9.62 lakhs, while other expenses decreased substantially to ₹10.98 lakhs from ₹66.18 lakhs.

Nine-Month Performance

For the nine-month period ended December 31, 2025, the company's performance showed resilience despite quarterly challenges:

Tax Position and Comprehensive Income

The company reported current tax expenses of ₹22.92 lakhs for Q3FY26, compared to ₹27.92 lakhs in Q3FY25. A deferred tax credit of ₹4.33 lakhs was recorded during the quarter. Other comprehensive income showed a loss of ₹102.50 lakhs, primarily due to fair value adjustments on equity instruments, resulting in total comprehensive loss of ₹86.15 lakhs for the quarter.

Auditor's Observations

The statutory auditors noted that the company has not accounted for interest on all loan accounts, expressing inability to comment on the completeness and accuracy of revenue recorded. The financial results were approved by the Audit Committee and Board of Directors on February 13, 2026, following a limited review by the statutory auditors.