Manipal Finance Corporation Ltd

Board actions

• Board approved unaudited Ind-AS results for the quarter ended June 30, 2026.
• 43rd AGM scheduled for September 25, 2026; book closure dates fixed.
• Draft Notice of 43rd AGM approved.
• Auditor's review notes going concern doubt due to NPAs; no audit opinion expressed.
• Note 7 cites NPAs; accounts prepared on going-concern basis.

Dematerialisation processing status

• Registrar confirmed processing of dematerialisation requests during the quarter (accepted/rejected) to the depositories.
• Securities dematerialised during the period have been listed on the stock exchanges where earlier securities are listed.
• Physical certificates for dematerialisation were mutilated and cancelled; depository name substituted as registered owner within the prescribed time.

Trading Window

• Trading window closed for designated persons from 1st July 2026.
• Remains closed until results for quarter and year ended June 2025 are announced; opens 48 hours after.

Audit opinion

• Qualified opinion issued for year ended 31 March 2026.
• Qualification repeated from prior year; same issue since 1999-2000.
• Auditor cited going-concern doubt due to losses and funds blocked in NPAs.

Financials

• Cash from operations was ₹20.29 lakh versus negative ₹743.58 lakh last year.
• Investing cash inflow was ₹0.31 lakh versus ₹305.59 lakh last year.
• Cash and cash equivalents ended at ₹0.85 lakh, down from ₹1.10 lakh.

Exceptional item

• Year ended 31 March 2026 showed profit due to exceptional income.
• Auditor said the company would have incurred a loss without that income.

Other matters

• Company stopped repayment of matured debentures and subordinated debt from 1 July 2002.
• Interest on those debentures and subordinated debt also stopped from 1 July 2002.
• During 2021-22, matured debentures and subordinated debts were remitted to IEPF, except disputed cases.

Business

• Manipal Finance Corporation is a finance company.
• Audited results were submitted for the standalone and consolidated year ended 31 March 2026.

Financial Performance 📊

• Q3 FY2026 revenue from operations was Rs 479 lakhs, up from Rs 462 lakhs in Q3 FY2025.
• Total income for Q3 FY2026 stood at Rs 510 lakhs versus Rs 481 lakhs in Q3 FY2025.
• Finance costs decreased to Rs 246 lakhs in Q3 FY2026 from Rs 267 lakhs in Q3 FY2025.
• Total expenses for Q3 FY2026 were Rs 1062 lakhs, down from Rs 1414 lakhs in Q3 FY2025.
• Profit before tax for Q3 FY2026 was Rs 2986 lakhs, versus a loss of Rs 16.38 lakhs in Q3 FY2025.
• Profit after tax for Q3 FY2026 was Rs 20.86 lakhs compared to a loss of Rs 16.38 lakhs in Q3 FY2025.
• EPS (basic and diluted) for Q3 FY2026 was Rs 0.36 versus zero in Q3 FY2025.

Exceptional Items & Profitability ⚠️

• Exceptional items contributed Rs 3538 lakhs profit in Q3 FY2026, including bad debts recovered and gain on sale of unquoted equity shares.
• Profitability driven by exceptional income; underlying operations would have resulted in losses for the period.
• Company has been incurring losses historically due to provisions against non-performing assets.
• Auditor’s review report includes a qualified conclusion on going concern due to majority funds blocked in NPAs.

Operations & Capital Structure 🧱

• Secured NCDs backed by mortgage on properties in Goa, Nasik, Mumbai, and floating charge on receivables.
• Company stopped repayment and interest on debentures/subordinated debts since July 2002; most settled by FY2021-22 except disputed amounts.
• Deferred tax assets not recognized beyond deferred tax liabilities as a prudence measure.

Other Notes 🗒️

• Company’s current activity is limited to recovery of dues and repayment of debts; income varies substantially.
• No segment-wise reporting as company operates in a single segment.
• Financials prepared under Ind AS, reviewed by audit committee, approved by board on 12 Feb 2026, with limited review by auditors.

🗓️ Meeting Details

• Board meeting scheduled for 12 February 2026 at Manipal House, Manipal.

📊 Key Agenda Items

• Consideration of unaudited financial results for Q3 ended 31 December 2025.