Standard Capital Markets Limited , a company listed on the Bombay Stock Exchange (BSE: 511700), has recently disclosed significant changes in its promoter shareholding structure and key decisions from its latest board meeting.

Promoter Group Changes

The company announced that three individuals - Manohar Lal Vij, Madhu Vij, and Anil Arora - have ceased to be part of the promoter group. Their status has transitioned from Promoter to Public shareholders. Standard Capital Markets acknowledged that the disclosure of this change was delayed due to inadvertence but emphasized that there was no malafide intention behind the delay. This notification was made in compliance with the Securities and Exchange Board of India (SEBI) regulations regarding capital and disclosure requirements.

Board Meeting Outcomes

Standard Capital Markets Limited shared the outcomes of its Board of Directors meeting. Key decisions and approvals from the meeting include:

1. Director Re-appointments: The board approved the re-appointment of Mr. Ram Gopal Jindal and Mrs. Anshita Sharma as Directors, both of whom were retiring by rotation at the upcoming 38th Annual General Meeting (AGM).

2. Secretarial Auditor Appointment: M/s. Virender Kumar & Associates, Practising Company Secretaries (C.P. No. 25458), were appointed as the Secretarial Auditor of the Company for a term of five years.

3. Annual Report and Financial Documents: The board considered and approved the Directors' Report, along with the Annual Report of the Company. They also took note of the Management Discussion and Analysis Report and the Corporate Governance Report.

4. 38th Annual General Meeting: The company's 38th AGM is scheduled to be held through Video Conferencing (VC) or Other Audio Visual Means (OAVM), in compliance with applicable regulations.

5. E-voting Scrutinizer: M/s Nitika G & Associates, Practicing Company Secretary (C.P No. 24785), was appointed as the Scrutinizer for conducting the e-voting process for the AGM.

6. Book Closure: The register of Members and Share Transfer Books of the Company will remain closed for a specified period. The record date for voting eligibility has been set.

These announcements reflect Standard Capital Markets Limited's commitment to regulatory compliance and corporate governance. The changes in the promoter group structure and the comprehensive agenda of the board meeting indicate ongoing developments within the company's management and operations.

Investors and stakeholders are advised to take note of these changes and refer to the official communications from the company for more detailed information.

Standard Capital Markets Limited , a prominent player in the financial services sector, has reported a remarkable surge in its net profit for the first quarter. The company's financial performance showcases significant growth across key metrics, reflecting its strong position in the market.

Financial Highlights

Standard Capital Markets Limited announced a net profit of ₹14.85 crore for the quarter, marking a substantial increase of 748% compared to ₹1.75 crore in the same quarter of the previous year. This impressive growth in profitability underscores the company's effective strategies and robust business model.

The company's total revenue from operations witnessed a significant uptick, rising to ₹58.53 crore from ₹8.04 crore year-on-year, representing a remarkable growth of 628%. This substantial increase in revenue indicates the company's expanding market presence and successful business operations.

Key Financial Metrics

Operational Performance

The company's interest income, a crucial component of its revenue, saw a substantial increase to ₹57.64 crore from ₹7.99 crore in the previous year's quarter. This 621% growth in interest income reflects the company's expanded lending activities and improved interest margins.

However, it's important to note that finance costs also increased significantly to ₹41.00 crore from ₹4.47 crore in the corresponding quarter last year, indicating a higher cost of funds for the company's operations.

Corporate Actions

Standard Capital Markets Limited has undertaken significant corporate actions to strengthen its financial position:

1. The company issued 72.46 crore equity shares for the conversion of outstanding unsecured loans, demonstrating its commitment to reducing debt and improving its capital structure.

2. The Board of Directors approved the issuance of Non-Convertible Debentures (NCDs) worth ₹900 crore on a private placement basis, indicating the company's efforts to diversify its funding sources.

Earnings Per Share

The company's earnings per share (EPS) stood at ₹0.07 for the quarter, compared to ₹0.01 in the corresponding quarter of the previous year, reflecting a 555% increase. This substantial improvement in EPS is likely to be well-received by shareholders.

Standard Capital Markets Limited continues to focus on its core financial services business, leveraging its expertise to drive growth and profitability. The company's strong performance sets a positive tone, although investors should keep an eye on the increasing finance costs and their potential impact on future profitability.

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting. The company's statutory auditors have carried out a limited review of the financial results for the quarter, in compliance with SEBI regulations.