Tourism Finance Corporation of India Ltd

AGM Details

• AGM held on Friday, August 21, 2026 at 11:00 AM through VC/OAVM.
• Record date for entitlement: 14 August 2026.
• Attendance: 83 members via VC/OAVM.

Key Resolutions

• Ordinary: Adopt audited financial statements for year ending 31 March 2026.
• Ordinary: Declare dividend on equity shares for FY2025-26.
• Ordinary: Re-appointment by rotation of director.
• Special: Issue of non-convertible bonds/debentures/other instruments.
• Ordinary: Approve remuneration of Managing Director.
• Special: Alteration to the Articles of Association.

Voting Results

• Item 1: Adopt financial statements — Passed; majority in favour.
• Item 2: Dividend — Passed.
• Item 3: Director re-appointment — Passed.
• Item 4: NCD issue — Passed.
• Item 5: MD remuneration — Passed.
• Item 6: AoA alteration — Passed.

Dividend

• Dividend on equity shares for FY2025-26 approved.

Director Changes

• Director re-appointment: Aditya Kumar Halwasiya re-appointed by rotation.
• MD appointment: Anoop Bali appointed as Managing Director.

Auditors

• No changes to auditors reported.

Related Party Transactions

• No material related party transactions approved.

AGM details

• AGM conducted via video conferencing/other audio-visual means.
• Start time and notice details provided; venue limited to VC/OAVM.

Key resolutions

• Ordinary: adopt audited financial statements for year ended.
• Ordinary: declare dividend on equity shares for the year.
• Ordinary: re-appoint director retiring by rotation.
• Special: issue of non-convertible bonds/debentures/other instruments.
• Ordinary: approve remuneration of managing director.
• Special: alter articles of association.

Voting results

• Results of voting for all resolutions not disclosed in filing.
• Results to be posted on company and exchange portals.

Dividend

• Dividend on equity shares proposed for FY; amount not specified.

Directors

• Director retire-by-rotation to be re-appointed.

Auditors

• No auditor appointment or changes disclosed.

Financial results and related disclosures

• Unaudited standalone Q1 FY2026-27 results approved; Limited Review report attached.
• Total income for quarter: 11,515.23 lakh.
• Profit after tax: 6,120.93 lakh.
• Provision for bad debts/investments: 4,120.00 lakh.
• Tax refunds for AY 1995-96 to 2002-03; net tax asset 808.35 lakh.
• Interest on tax refund recognized as other income: 3,400.03 lakh.
• Equity share split from Rs 10 to five Rs 2 shares; effective 19 Sep 2025.
• Basic and diluted EPS restated due to share split.
• No reportable segment as per Ind AS 108.
• Regulation 52(7)/(7A) not applicable; no NCD issuances in quarter.
• No loan accounts acquired or transferred during quarter.
• Limited Review: no material misstatement identified.
• No impairment reserve required per RBI guidelines on IndAS.

Amendment to Articles of Association

• Amendment deleting common seal clauses; subject to member approval.

Financial results approved

• Unaudited standalone results for quarter ended 30 June 2026 approved; Limited Review report attached.
• Profit after tax for quarter ended 30 June 2026: Rs 6,120.93 lakh.
• Total income for the quarter: Rs 11,515.23 lakh.
• Results to be published in newspapers per SEBI LODR.

AoA amendment

• Amendment deleting Common Seal clause, custody and usage, subject to member approval.

Auditor report summary

• Limited Review by Rama K Gupta & Co states no material misstatement.

Regulatory disclosures

• Board disclosures comply with SEBI LODR Regulations for the quarter.

Compliance officer and RTA details

• Compliance officer appointed: Sr. Vice President and Company Secretary.
• Compliance officer appointment date: 31 July 2013.
• Compliance officer is qualified as a Company Secretary.
• RTA appointed: MCS Share Transfer Agent Limited.
• RTA appointment date: 12 February 2014.
• RTA SEBI registration number: INROQO004108.
• Quarter ended: 30 June 2026.
• Regulatory basis: SEBI LODR Regulations 2015 Reg 6(1) and 7(1).

Instruments Rated

• Outstanding NCDs aggregating ₹175 crore rated AA-/Stable.
• ISIN INE305A09216: ₹100 crore, 15-year, 9.60% coupon, maturity 25 Feb 2028.
• ISIN INE305A09208: ₹75 crore, 20-year, 9.65% coupon, maturity 25 Feb 2033.
• Redeemed bond ₹159.74 crore redeemed Nov 2025; rating withdrawn.

Action & Outlook

• Rating upgraded to AA-/Stable; validity until 01 July 2027.
• Outlook: Stable.
• Redeemed bonds reduced rated base from ₹334.74 cr to ₹175 cr.

Key Drivers

• AUM rose ~24% to ₹2,088.14 cr; diversification beyond tourism.
• GNPA 0.37%, NNPA 0.00% as of 31 Mar 2026; recoveries core support.
• NIM 6.43%; PAT ₹123.46 cr; ROA >5%.

Capital & Liquidity

• CRAR 55.53%; gearing 0.83x; TNW ₹1,304.84 cr.
• Liquidity: cash ₹51.23 cr; liquid investments ₹100.95 cr; LCR 285%.
• Projected FY27 borrowings ₹302.53 cr against inflows ₹826 cr.

Risks & Sensitivities

• Tourism concentration remains; sector risks acknowledged.
• Slippage of one or two accounts can spike asset quality.
• Recovery performance critical for maintaining profitability.