Viji Finance Limited has announced a significant change in its key management personnel. Nitesh Gupta (DIN: 09248507) has stepped down from his position as Whole-Time Director and Key Managerial Personnel, effective December 8, 2025.

Resignation Details

Mr. Gupta cited personal reasons for his departure, expressing a desire to focus on his own business endeavors. In his resignation letter, he stated that he would be unable to devote the necessary time to the company's affairs, leading to his decision to step down.

Board Meeting and Regulatory Compliance

The company's board of directors convened a meeting to address this material event, which lasted from 3:00 p.m. to 5:30 p.m. This meeting was in line with the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, which mandate prompt disclosure of such significant changes.

Key Points of the Resignation

Company's Response

Viji Finance Limited has confirmed receipt of Mr. Gupta's resignation letter and his assertion that there are no material reasons for his resignation other than those mentioned. The company has complied with regulatory requirements by submitting the necessary disclosures to the stock exchanges and will update its records with the Registrar of Companies accordingly.

Impact and Next Steps

The resignation of a Whole-Time Director is considered a material event under SEBI regulations, potentially affecting the company's management structure. Viji Finance Limited has not announced any plans for Mr. Gupta's replacement. Investors and stakeholders may be watching for any further announcements regarding changes to the company's leadership team.

As the financial services sector continues to evolve, management stability remains a key factor for investors to consider. Viji Finance Limited will need to ensure a smooth transition to maintain operational continuity.

Viji Finance Limited , a financial services company, has reported its financial results for the quarter and half-year ended September 30, revealing a challenging period marked by increased losses and operational changes.

Financial Performance

For the quarter ended September 30, Viji Finance reported a net loss of ₹9.69 crore, a significant increase from the ₹33.00 lakh loss in the previous quarter. The half-year results paint a similar picture, with the company recording a net loss of ₹42.69 crore, compared to a loss of ₹30.66 crore in the corresponding period last year.

Despite the widened losses, the company's revenue from operations showed a marginal improvement. For Q2, revenue increased to ₹57.58 crore from ₹56.52 crore in the previous quarter.

Key Financial Metrics

Balance Sheet Highlights

As of September 30, Viji Finance's total assets stood at ₹3,444.14 crore. The company's loan portfolio, a crucial component of its business, amounted to ₹2,693.02 crore, showing a slight decrease from ₹2,705.60 crore reported on March 31.

Corporate Governance Changes

In a significant development, Mr. Aryaman Kothari has resigned from his position as Non-Executive Non-Independent Director of the company, effective November 3. Mr. Kothari cited other professional commitments as the reason for his departure.

Following this change, the Board of Directors has reconstituted its Finance Committee. Mr. Nitesh Gupta, a Whole Time Director, has been appointed as a member of this committee, joining Mr. Vijay Kothari, the Managing Director, who serves as the Chairperson.

Operational Insights

The company continues to operate in a single segment of finance services. The Board of Directors and the Audit Committee have reviewed and approved these financial results, which have also undergone a limited review by the statutory auditors.

Looking Ahead

While Viji Finance faces challenges in terms of profitability, the slight increase in operational revenue suggests potential for recovery. The company's ability to manage its loan portfolio and adapt to the changing financial landscape will be crucial in the coming quarters.

Investors and stakeholders will be closely watching how the recent board changes and operational strategies impact the company's performance in the future. The management's focus on strengthening the balance sheet and improving operational efficiency will be key factors in Viji Finance's efforts to return to profitability.