Kanungo Financiers Limited has reported the passing of its Independent Director, Mrs. Manjulaben Navinchandrakothari (DIN: 08012476), which occurred on September 22, 2025. The company made this announcement in a delayed disclosure to stock exchanges on November 1, 2025.

Delayed Disclosure Details

The company cited specific reasons for the delay in reporting this significant event:

1. Non-availability of the official death certificate
2. Pending confirmation from family members

Kanungo Financiers stated that they received the death certificate on November 1, 2025, which prompted the immediate disclosure to the stock exchanges.

Company's Statement

In its filing, Kanungo Financiers addressed the delay:

"The delay in submission of the intimation is purely unintentional and occurred due to the reason mentioned above. The Company regrets the delay and assures you that it will ensure timely disclosure of such material events in the future."

Disclosure Timeline

Corporate Governance Implications

This incident highlights the importance of timely disclosures in maintaining transparency and adhering to regulatory requirements. The Securities and Exchange Board of India (SEBI) mandates prompt disclosure of material events under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Kanungo Financiers' commitment to ensuring future timely disclosures reflects an acknowledgment of the significance of such events and the company's responsibility to its shareholders and the market at large.

Investors and market participants are advised to take note of this development, as changes in board composition, particularly the loss of an independent director, can have implications for a company's governance structure and decision-making processes.

Stakeholders should monitor further announcements from Kanungo Financiers regarding any potential changes to its board composition or governance structure following this event.

Kanungo Financiers Limited, a single-segment financial services company, has announced its unaudited financial results for the first quarter ended June 30, 2025, along with a change in its board composition.

Financial Performance

The company reported a total income of Rs 48.25 lakhs for Q1 FY2025-26, with a profit of Rs 3.73 lakhs. The earnings per share (EPS) for the quarter stood at Rs 0.08.

The company's financial results show a year-on-year increase in total income and profit after tax compared to the same quarter of the previous fiscal year. However, there was a sequential decrease in performance compared to the immediately preceding quarter.

Key Expenses

Finance costs remained the largest expense for Kanungo Financiers, amounting to Rs 34.26 lakhs in Q1 FY2025-26. Legal and professional expenses stood at Rs 4.17 lakhs, while employee benefits expense was Rs 3.13 lakhs for the quarter.

Board Changes

The board of directors noted the resignation of Mr. Panchal Nrupesh Kirtikumar from his position as Non-Executive & Independent Director. The resignation, effective from August 7, 2025, was attributed to pre-occupancy.

Audit Review

The quarterly results were reviewed by the audit committee and approved by the board of directors in their meeting held on August 14, 2025. The statutory auditors of the company have issued an unmodified conclusion following their limited review of the Q1 results.

Company Operations

Kanungo Financiers Limited operates in a single business segment, as per Indian Accounting Standard 108 on Operating Segments. The company's financial results are prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015, prescribed under section 133 of the Companies Act, 2013.

The board meeting, which commenced at 12:00 PM and concluded at 01:00 PM, was held at the company's registered office in Ahmedabad.