Mangal Credit and Fincorp Ltd

AGM notice

• 64th AGM scheduled for 22 September 2026, 12:30 PM IST, via VC/OAVM.
• Newspaper ads published in News Hub (English) and Pratahkal (Marathi) today.
• Publication also hosted on company website for record.

Withdrawal and new fundraising plan

• Withdrawn private placement of 2,000 NCDs; no offer letters issued or funds received.
• Approved raising funds via private placement of up to 3,500 NCDs totaling ₹35 crore.

NCD terms and structure (Annexure-A)

• Type: secured, listed, rated, taxable NCDs; face value ₹1,00,000.
• Issuance: private placement to eligible investors.
• Aggregate size: up to 3,500 NCDs, ₹35 crore.
• Proposed listing on BSE Limited.
• Tenor: 23 months from deemed allotment; deemed allotment on 9 Sep 2026.
• Maturity date: Aug 9, 2026; depends on allotment.
• Coupon: 11.50% p.a.; interest monthly, principal bullet.
• Security: first-ranking charge over identified receivables; 1.05x cover.
• Redemption: as per Sr.No.9; no special rights.
• Cancellation: none.

Regulatory disclosures

• Annexure-A provides disclosures under Regulation 30 and SEBI Master Circular.

Meeting Details

• Date: 14 August 2026; time and venue not disclosed.

Key Agenda Items

• Consider fund raising via issuance of Non-Convertible Debentures, subject to requisite approvals.

Other Notes

• No trading window closure period specified.

Book closure and AGM details

• Book Closure: Sept 15, 2026 to Sept 22, 2026 (both days inclusive).
• Purpose: 64th Annual General Meeting of the company.
• Record date: Sept 14, 2026 for dividend entitlement if approved.
• AGM date/time/mode: Sept 22, 2026 at 12:30 PM IST via video conference.
• Security: Equity shares of Mangal Credit and Fincorp Limited.
• Cut-off for e-voting: Sept 14, 2026 for remote and AGM voting.
• Dividend: Final dividend, if approved at AGM, payable thereafter.

Meeting Details

• Board meeting scheduled for Thursday, August 6, 2026; time and venue not disclosed.

Key Agenda Items

• Consider unaudited financial results for quarter ended June 30, 2026, with Limited Review Report.
• Approve fund raising by issue of Non-Convertible Debentures.
• Fix date, day, time and venue for the 64th AGM.
• Seek shareholder approval for preferential issue of Convertible Equity Warrants.
• Increase authorised share capital and alter MOA, subject to shareholder approval.

Other Notes

• Trading window closed from July 1, 2026 until 48 hours after results declaration.

Dematerialisation processing and listing status

• Securities received for dematerialisation in the reporting period were confirmed to the depositories.
• Securities comprised in the certificates have been listed on the stock exchanges where earlier listed.
• Certificates received for dematerialisation were mutilated and cancelled after verification; depository name substituted as registered owner.

Credit rating action

• CRISIL assigned and reaffirmed ratings for Mangal Credit and Fincorp Limited.
• Bank loan facilities worth Rs 400 crore were reaffirmed at CRISIL BBB/Stable.
• NCDs worth Rs 120 crore were assigned CRISIL BBB/Stable.
• NCDs worth Rs 100 crore were reaffirmed at CRISIL BBB/Stable.

Agency

• Rating agency: CRISIL Limited.

Rationale

• CRISIL cited adequate liquidity and comfortable asset-liability maturity profile.
• The company has maintained improving asset quality after Covid-related stress.
• Strategic shift to lower-ticket loans reduced concentration risk.
• Weaknesses include moderate scale and geographic concentration in Maharashtra.
• AUM rose to Rs 423.1 crore in March 2026 from Rs 290.4 crore.
• Total income increased to Rs 70.0 crore; PAT rose to Rs 15.3 crore.
• Gearing increased to 1.9 times from 1.4 times.

Outlook

• Outlook is Stable.
• CRISIL expects comfortable capitalisation and competitive funding access.

Sensitivities

• Upgrade needs significant scale growth with maintained asset quality and profitability.
• Upgrade also needs gearing below 4 times.
• Downgrade could follow 90+ dpd above 4% and weaker earnings.
• Downgrade could follow materially weaker capitalisation during portfolio growth.

Liquidity

• Liquidity was adequate, with positive maturity mismatch up to one year.
• Liquidity was Rs 12.1 crore as of May 31, 2026.
• Liquidity covered 0.4 times next month's outflows.
• Promoter support is available in exigencies.