Savani Financials announced several key decisions made during its Board of Directors meeting held on August 28, 2025. The board approved a range of significant proposals that will shape the company's governance and compensation structures, subject to shareholder approval at the upcoming General Meeting.

New Articles of Association

The board has given its nod to a new set of Articles of Association for the company. This fundamental document outlines the rules and regulations for the company's internal management and is crucial for defining how the company operates.

Executive Compensation Frameworks

Several compensation frameworks were approved during the meeting:

• Managerial Remuneration for Managing Director: A new framework for the Managing Director's compensation was approved.
• Chief Executive Officer Compensation: The board sanctioned a compensation package for the Chief Executive Officer.
• Non-Executive Independent Directors Remuneration: A framework for remunerating Non-Executive Independent Directors was established.
• Senior Managerial Personnel Compensation: The board approved a remuneration framework for Senior Managerial Personnel.

Annual General Meeting

The Notice for the Forty First Annual General Meeting for the financial year 2024-2025 was also approved during the board meeting. This sets the stage for shareholders to review and vote on the proposed changes.

Regulatory Compliance

In compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Savani Financials promptly disclosed these decisions to the BSE Limited.

Board Meeting Details

The board meeting commenced at 11:30 a.m. and concluded at 5:30 p.m., demonstrating the extensive discussions that took place regarding these important matters.

It's important to note that all these approvals are subject to shareholder consent, which will be sought at the upcoming General Meeting. Shareholders will play a crucial role in finalizing these significant changes to the company's governance and compensation structures.

Investors and stakeholders of Savani Financials should keep an eye out for further announcements regarding the date of the Annual General Meeting and the detailed proposals that will be put to vote.

Savani Financials has reported a significant increase in its net loss for the quarter ended June 30, amid rising operational costs and major corporate changes. The company also announced plans to rebrand itself as Mantra Capital Limited, subject to regulatory approvals.

Financial Performance

The Mumbai-based financial services company reported a net loss of Rs. 255.52 lakhs for Q1, compared to a loss of Rs. 159.14 lakhs in the same quarter last year. Despite the widening loss, the company saw a substantial increase in its revenue from operations, which rose to Rs. 246.27 lakhs from Rs. 17.53 lakhs year-over-year.

The growth in revenue was primarily driven by:

• Higher interest income of Rs. 182.58 lakhs
• Fees and commission income of Rs. 32.89 lakhs

However, the company's expenses surged significantly to Rs. 506.61 lakhs, with major contributors being:

• Employee benefit expenses at Rs. 296.09 lakhs
• Legal & professional expenses at Rs. 80.92 lakhs

Corporate Changes

In a series of significant announcements, Savani Financials revealed:

1. Name Change: The company plans to change its name from 'Savani Financials Limited' to 'Mantra Capital Limited'. This decision is based on a No Objection Certificate received from the Reserve Bank of India and is subject to approval from the Registrar of Companies.

2. Leadership Changes: Darsh Mehta has resigned from his position as Company Secretary and Compliance Officer.

3. New Appointment: The board has approved the appointment of M/s. Bansal and Company as Secretarial Auditor for a period of five years, subject to shareholder approval at the forthcoming General Meeting.

4. Annual General Meeting: The board has approved the Board Report for the Forty First Annual General Meeting for the financial year 2024-2025.

Savani Financials continues to navigate challenging market conditions while implementing significant corporate changes. The proposed rebranding to Mantra Capital Limited may signal a new strategic direction for the company, even as it grapples with increasing operational costs and widening losses.