Goenka Business Finance Ltd has announced significant changes to its board composition with the re-appointment of two key Independent Directors for second terms. The company disclosed these developments in compliance with SEBI listing regulations on December 16, 2025.

Board Re-appointments Approved

The Board of Directors, acting on recommendations from the Nomination and Remuneration Committee, has approved the re-appointment of two Non-Executive Independent Directors for second terms of five years each. The appointments are subject to shareholder approval through postal ballot.

Director Profiles and Qualifications

Mr. Darshil Hemendrakumar Shah brings substantial expertise as a qualified Company Secretary holding a Bachelor's degree in Law. With over 10 years of experience in Secretarial Operations, Legal Operations, Corporate Matters, and Legal Affairs, he has contributed significantly to strengthening the company's governance and compliance standards. The Board believes his continued association will benefit the company.

Mr. Nigambhai Govindbhai Sathavara is a Fellow Member of the Institute of Company Secretaries of India (ICSI) and holds a Bachelor's Degree in Law. He brings over a decade of experience in Corporate Law Affairs, SEBI Laws, and Legal Compliance matters. Additionally, he is a Certified Independent Director from the Indian Institute of Corporate Affairs (IICA) and has completed a Certificate Course on Independent Director from the Institute of Company Secretaries of India. His expertise in compliance and governance frameworks has been valuable to the Board.

Independence and Compliance Status

Both directors maintain their independence status with no relationships to existing company directors. The company has confirmed that neither Mr. Shah nor Mr. Sathavara is debarred from holding director positions by virtue of any SEBI order or other regulatory authority.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was communicated to BSE Limited, Metropolitan Stock Exchange of India Limited, and The Calcutta Stock Exchange Limited, with the company trading under script codes 538787 (BSE), GBFL (MCX), and 17407 (CSE) respectively.

Goenka Business & Finance Limited has released its unaudited financial results for the second quarter and half year ended September 30, 2025, revealing a significant increase in revenue accompanied by expanded losses.

Revenue Growth

The company reported a substantial rise in total revenue from operations, which jumped to Rs 3,140.87 crore in Q2 FY2026, up from Rs 925.30 crore in the previous quarter. This represents a quarter-on-quarter growth of approximately 239%. The surge in revenue was primarily driven by a significant increase in the sale of shares/services, which rose to Rs 2,695.57 crore in Q2 from Rs 368.20 crore in Q1.

Widening Losses

Despite the revenue growth, Goenka Business & Finance posted a net loss of Rs 196.86 crore for Q2 FY2026, compared to a loss of Rs 33.59 crore in Q1. For the half-year period, the cumulative loss stood at Rs 230.44 crore.

Financial Position

As of September 30, 2025, the company's total assets were reported at Rs 24,699.61 crore. The loan portfolio constituted a significant portion of the assets at Rs 15,388.77 crore, while investments stood at Rs 1,239.81 crore.

Liquidity

The company's cash and cash equivalents decreased to Rs 17.11 crore from Rs 91.72 crore at the end of the previous financial year, indicating a reduction in liquid assets.

Key Financial Metrics

Management Commentary

The results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on November 12, 2025. The company has not provided specific commentary on the factors contributing to the increased losses or strategies to address the financial challenges.

Market Implications

The significant revenue growth coupled with widening losses may raise questions among investors about the company's cost structure and operational efficiency. The decrease in cash and cash equivalents could also be a point of concern regarding the company's liquidity position.

Investors and market analysts may look for further clarification from the management on the company's strategy to achieve profitability and manage its financial resources effectively in the coming quarters.