Mangal Credit & Fincorp Holds 64th AGM, Approves Dividend & Raises Borrowing Limit
Mangal Credit and Fincorp Limited held its 64th AGM on September 22, 2026. Shareholders approved a final dividend of ₹0.75 per share and re-appointed a director. Key approvals include loans up to ₹250 crore to Mr. Meghraj Jain and ₹50 crore to Mr. Hardik Jain. Borrowing limits were raised to ₹1,500 crore from ₹750 crore.
The approval of significant loan amounts, substantial increase in borrowing limits, and equity fundraising through warrants can materially impact the company's financial structure and future operations.
The company approved a dividend, re-appointed a director, and increased its borrowing limits and authorized share capital, indicating positive corporate actions and financial strengthening.
Mangal Credit and Fincorp Limited held its 64th Annual General Meeting (AGM) on Tuesday, September 22, 2026. The meeting, conducted via Video Conferencing (VC) / Other Audio Visual Means (OAVM), commenced at 12:30 P.M. (IST) and concluded at 1:04 P.M. (IST), covering the financial year 2025-26.
Key business transacted included the adoption of the Annual Audited Financial Statements for the financial year ended March 31, 2026, along with the reports of the Board of Directors and Statutory Auditors. Shareholders approved a final dividend of ₹0.75 per equity share of face value ₹10 for the financial year ended March 31, 2026. Mr. Hardik Meghraj Jain, who retires by rotation, was re-appointed as a Director.
Significant special business items approved include material related party transactions for loans: up to ₹250 crore to Mr. Meghraj Sohanlal Jain and up to ₹50 crore to Mr. Hardik Meghraj Jain, for the Financial Year 2026-27 and up to the date of the 65th AGM. The authorized share capital was increased from ₹25 crore to ₹30 crore, comprising an increase in equity shares from 2.50 crore to 3 crore of ₹10 each. Additionally, the creation, offer, issue, and allotment of up to 25 lakh Convertible Equity Warrants on a preferential basis were approved. The borrowing limits were increased from ₹750 crore to ₹1,500 crore under Section 180(1)(c) of the Companies Act, 2013, and the creation of a charge on the company's assets under Section 180(1)(a) was also approved.
The Chairman highlighted the company's operational performance and future outlook, noting the registration as a Corporate Agent with IRDAI to offer insurance products. The financial and operational performance for FY 2025-26 was presented by the Executive Director. The results of the e-voting, including the scrutinizer's report, will be disseminated to the stock exchanges within two working days and made available on the company's website.
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Mangal Credit and Fincorp Limited filed this with the NSE as a statutory disclosure, categorised under agm. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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