Muthoot Capital Services Limited (MCSL) held its 31st Annual General Meeting (AGM) on September 19, through video conferencing, addressing several significant corporate governance matters. The company, a key player in the financial services sector, made important decisions that could shape its future leadership and operations.

Continuation of Independent Director

One of the notable resolutions passed at the AGM was the approval for Mr. Thomas Mathew to continue as a Non-Executive Independent Director beyond the age of 75 years. This decision underscores the company's confidence in Mr. Mathew's expertise and his continued value to the board, despite reaching the age typically associated with retirement in many corporate settings.

Remuneration Changes for Whole-Time Director

Shareholders also approved a variation in the remuneration terms for Mrs. Tina Suzanne George, who serves as a Whole-Time Director of the company. While specific details of the remuneration changes were not disclosed, this adjustment suggests the company's commitment to retaining key executive talent and aligning compensation with performance and market standards.

Other Key Decisions

The AGM also saw the reappointment of Mrs. Ritu Elizabeth George as a director, who was retiring by rotation. This reappointment ensures continuity in the company's leadership.

In a move to enhance its corporate governance practices, MCSL appointed M/s. S. Sandeep & Associates, Practicing Company Secretaries, as the Secretarial Auditors of the company for a term of five consecutive financial years.

Shareholder Participation and Voting Results

The meeting witnessed active participation from shareholders, with voting conducted through remote e-voting and an e-voting system during the AGM. All resolutions put forth were passed with overwhelming majority, indicating strong shareholder support for the company's decisions.

These decisions reflect Muthoot Capital Services' focus on maintaining strong corporate governance, ensuring board continuity, and adapting to changing business needs. The high approval rates for all resolutions indicate strong shareholder confidence in the company's management and strategic direction.

Muthoot Capital Services Limited , a leading non-banking financial company (NBFC), has announced its unaudited financial results for the first quarter, showcasing significant growth in revenue but a decline in profitability.

Key Financial Highlights

• Total income from operations surged to ₹14,531.77 lakhs, marking a robust 45.31% increase from ₹10,000.41 lakhs in the corresponding quarter of the previous year.
• Despite the revenue growth, the company reported a net loss of ₹466.99 lakhs for the quarter, compared to a net profit of ₹1,080.01 lakhs in the same period last year.
• The total comprehensive loss for the period stood at ₹441.72 lakhs, in contrast to a total comprehensive income of ₹1,140.92 lakhs in the same quarter last year.

Financial Position

• Net worth increased to ₹65,365.24 lakhs, up from ₹62,375.81 lakhs in the previous year.
• Outstanding debt rose significantly to ₹2,98,775.62 lakhs, compared to ₹1,73,992.68 lakhs in the corresponding period last year.
• The debt-equity ratio increased to 4.56 from 2.79 in the previous year, indicating higher leverage.

Per Share Data

• Basic and diluted earnings per share (EPS) for the quarter were negative at ₹2.84, compared to positive ₹6.57 in the same quarter of the previous year.

Investor Communication

Muthoot Capital Services held an investor conference call on August 06 to discuss the quarterly results. The audio recording of this call has been made available on the company's website for investors and analysts to access.

Regulatory Compliance

The company has duly informed the stock exchanges about its financial results and the investor conference call, adhering to the regulatory requirements set by the Securities and Exchange Board of India (SEBI) under the Listing Obligations and Disclosure Requirements Regulations, 2015.

Investors and stakeholders are encouraged to review the detailed financial results available on the National Stock Exchange of India and BSE Limited websites, as well as on the company's official website, for a comprehensive understanding of Muthoot Capital Services' financial performance and position.