🔍

VIJIFIN - Viji Finance

📊 NSE: VIJIFIN 🏢 Finance & Investments 📅 Last Updated: 12/14/2025 15:07

📢 Recent Corporate Announcements

Viji Finance Q3 FY26 Net Profit at ₹94.22 Lakhs; Turnaround from YoY Loss

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 16 Jan 2026, 05:48 PM

Viji Finance Limited reported a significant turnaround in Q3 FY26, posting a net profit of ₹94.22 lakhs compared to a net loss of ₹9.56 lakhs in the same quarter last year. Total revenue from operations surged to ₹159.26 lakhs, a sharp increase from ₹59.30 lakhs YoY, driven primarily by higher interest income. For the nine-month period ended December 2025, the company turned profitable with a net profit of ₹51.53 lakhs against a loss of ₹51.11 lakhs in the previous year. Total expenses for the quarter were well-managed at ₹46.22 lakhs, down from ₹84.11 lakhs in the year-ago period.

Net Profit turned positive at ₹94.22 lakhs in Q3 FY26 vs a loss of ₹9.56 lakhs in Q3 FY25.
Revenue from operations grew 169% YoY to ₹159.26 lakhs, up from ₹59.30 lakhs.
Total expenses decreased by 45% YoY to ₹46.22 lakhs from ₹84.11 lakhs in the previous year.
9M FY26 performance shows a complete turnaround with a profit of ₹51.53 lakhs vs a loss of ₹51.11 lakhs YoY.
Earnings Per Share (EPS) improved to ₹0.07 for the quarter from a negative ₹0.01 YoY.

💡 Investors should note the sharp turnaround in profitability and revenue growth, though the absolute figures remain small. It is advisable to monitor if this sudden spike in interest income is sustainable in future quarters.

Viji Finance Files Quarterly Compliance Certificate Under SEBI Regulation 74(5)

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jan 2026, 01:52 PM

Viji Finance Limited has submitted its compliance certificate for the quarter ended December 31, 2025, in accordance with SEBI (Depositories and Participants) Regulations. The company's Registrar and Transfer Agent, Ankit Consultancy Private Limited, confirmed that no requests for dematerialization or rematerialization of shares were received during this period. As a result, no further intimations were required to be sent to the depositories. This is a standard regulatory filing confirming the integrity of the company's shareholding records.

Compliance certificate submitted for the quarter ended December 31, 2025.
Zero demat and remat requests were received by the Registrar during the quarter.
Confirmation provided by Ankit Consultancy Private Limited, the company's RTA.
Filing adheres to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.

💡 No action is required as this is a routine administrative filing. Investors should focus on the company's upcoming financial performance and business growth metrics.

Viji Finance Increases Authorized Capital to ₹30 Cr and Confirms New Director Appointment

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 31 Dec 2025, 05:29 PM

Viji Finance Limited's shareholders approved a significant increase in Authorized Share Capital from ₹18 Crores to ₹30 Crores during the 31st AGM held on December 31, 2025. The company also confirmed the appointment of Mr. Ashish Verma as a Professional Non-Executive Non-Independent Director, who brings 38 years of administrative experience. Furthermore, Ramesh Chandra Bagdi & Associates were appointed as Secretarial Auditors for a five-year period ending in FY 2029-30. These moves indicate a strengthening of the corporate structure and preparation for potential future capital expansion.

Authorized Share Capital increased by 66.6% from ₹18,00,00,000 to ₹30,00,00,000
Creation of 12,00,00,000 additional equity shares of face value ₹1 each
Mr. Ashish Verma (DIN: 07665222) confirmed as Non-Executive Non-Independent Director
Ramesh Chandra Bagdi & Associates appointed as Secretarial Auditor for a 5-year term (FY 2025-2030)

💡 Investors should monitor for upcoming fund-raising announcements, such as a rights issue or preferential allotment, which typically follow an increase in authorized capital. The management changes are routine and do not require immediate portfolio adjustments.

Viji Finance Increases Authorized Share Capital to ₹30 Crore; Appoints New Director

🔵 WATCH ⭐ 6/10

FUNDRAISE 📅 31 Dec 2025, 05:29 PM

Viji Finance Limited's shareholders approved an increase in authorized share capital from ₹18 crore to ₹30 crore during the 31st AGM held on December 31, 2025. This 66.67% increase involves the creation of 12 crore new equity shares of ₹1 each, which typically signals preparation for future capital raising activities. Additionally, the company confirmed the appointment of Mr. Ashish Verma as a Non-Executive Director and Ramesh Chandra Bagdi & Associates as Secretarial Auditors for a five-year term. These structural changes align the company's corporate framework for potential expansion or equity infusion.

Authorized Share Capital increased from ₹18,00,00,000 to ₹30,00,00,000.
Creation of 12,00,00,000 additional equity shares with a face value of ₹1 each.
Confirmation of Mr. Ashish Verma (DIN: 07665222) as Professional Non-Executive Non-Independent Director.
Appointment of Ramesh Chandra Bagdi & Associates as Secretarial Auditor for a 5-year tenure (FY 2025-26 to 2029-30).

💡 Investors should watch for subsequent announcements regarding specific fundraising plans, such as rights issues or preferential allotments, that would utilize this increased capital headroom.

Viji Finance Concludes 31st AGM; Approves Fundraise and Capital Increase

🔵 WATCH ⭐ 6/10

BOARD_MEETING 📅 31 Dec 2025, 05:02 PM

Viji Finance Limited held its 31st Annual General Meeting on December 31, 2025, with 36 members attending via video conference. Shareholders approved several critical resolutions, including the raising of funds through loans with an option to convert into equity shares. The meeting also saw the approval of an increase in Authorized Share Capital and material related party transactions with the Chairman and Managing Director, Vijay Kothari. These moves indicate a strategic push for capital expansion and potential future growth through debt-to-equity instruments.

Approved raising funds through secured/unsecured loans with an option for conversion into equity shares.
Authorized an increase in the company's Authorized Share Capital and consequent alteration of the Memorandum of Association.
Approved material related party transactions with Mr. Vijay Kothari, Chairman and Managing Director.
Granted special authority to the Board to borrow money and create charges on movable and immovable properties.
Total of 63,425 members were eligible as of the December 24, 2025 cut-off date, with 36 members attending the virtual meeting.

💡 Investors should monitor the specific quantum of the proposed fundraise and the terms of the equity conversion option, as this could lead to future equity dilution. It is also advisable to review the details of the approved related party transactions for any impact on minority shareholder interests.

Viji Finance 31st AGM: Shareholders Consider Fundraising via Convertible Loans and Capital Increase

🔵 WATCH ⭐ 7/10

FUNDRAISE 📅 31 Dec 2025, 03:04 PM

Viji Finance Limited held its 31st Annual General Meeting on December 31, 2025, to transact eight key resolutions including the adoption of FY25 financial statements. Major proposals included authorizing the board to borrow funds and raise capital through loans with an option for conversion into equity shares. Additionally, the company sought approval for an increase in authorized share capital and material related party transactions with the Managing Director. While the statutory auditor's report was clean, the secretarial auditor's report contained observations that management stated would not impact operations.

Proposed raising funds through secured/unsecured loans with an option for conversion into equity shares.
Sought shareholder approval to increase Authorized Share Capital and alter the Memorandum of Association.
Tabled special resolutions to authorize the Board to borrow money and create charges on company properties.
Requested approval for Material Related Party Transactions with Chairman and MD Mr. Vijay Kothari.
The meeting was attended by 36 members via video conferencing, with remote e-voting held from December 28 to 30, 2025.

💡 Investors should closely monitor the final voting results and the specific terms of the convertible loans, as equity conversion could lead to future share dilution. It is also advisable to review the details of the material related party transactions involving the Managing Director.

Viji Finance to Close Trading Window from Jan 1, 2026, for Q3 FY26 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Dec 2025, 03:48 PM

Viji Finance Limited has announced the closure of its trading window effective from January 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This routine measure is taken ahead of the board's consideration and approval of the un-audited financial results for the quarter and nine months ending December 31, 2025. The trading restriction applies to all designated persons, their immediate relatives, and connected persons. The window will reopen 48 hours after the financial results are officially declared to the stock exchanges.

Trading window closure starts on Thursday, January 1, 2026.
Closure is for the purpose of approving un-audited financial results for the period ended December 31, 2025.
The window will remain closed until 48 hours after the financial results become generally available.
Company has implemented PAN-level freezing for designated persons as per SEBI's latest regulatory framework.
The specific date for the Board Meeting to approve results will be announced separately.

💡 This is a standard regulatory filing and requires no immediate action from retail investors. Investors should focus on the upcoming financial results to assess the company's quarterly performance.

VIJIFIN to hold 31st AGM on Dec 31, 2025, E-voting begins Dec 28

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 09 Dec 2025, 04:25 PM

Viji Finance Limited (VIJIFIN) is providing electronic voting facilities to its members for the 31st Annual General Meeting (AGM) to be held on Wednesday, December 31, 2025. The e-voting period will commence on Sunday, December 28, 2025, at 9:00 A.M. and conclude on Tuesday, December 30, 2025, at 5:00 P.M. The cut-off date for e-voting entitlement is Friday, December 5, 2025. The company has appointed Mr. L.N. Joshi as the Scrutinizer for the e-voting process.

31st Annual General Meeting to be held on December 31, 2025
E-voting starts on December 28, 2025, at 9:00 A.M.
E-voting ends on December 30, 2025, at 5:00 P.M.
Cut-off date for E-voting entitlement is December 5, 2025
8 Resolutions to be placed before the AGM

💡 Shareholders should participate in the e-voting process between December 28-30, 2025, to exercise their rights. Review the resolutions to be passed in the AGM and cast your vote accordingly.

Viji Finance Board Approves Increase in Authorized Share Capital to ₹30 Crore

🟡 NEUTRAL ⭐ 6/10

FUNDRAISE 📅 08 Dec 2025, 07:14 PM

Viji Finance Limited has announced a proposal to increase its authorized share capital from ₹18 crore to ₹30 crore. This change involves increasing the total number of equity shares from 18 crore to 30 crore, each with a face value of ₹1. The Board of Directors approved the amendment to the Memorandum of Association (MOA) on December 8, 2025. This expansion of capital headroom is subject to final approval by shareholders at the upcoming Annual General Meeting.

Authorized share capital to be increased from ₹18.00 crore to ₹30.00 crore
Total number of equity shares will rise from 18,00,00,000 to 30,00,00,000
Face value of shares remains unchanged at ₹1 per share
Amendment to Clause V of the Memorandum of Association approved by the Board
Implementation is subject to shareholder approval at the ensuing AGM

💡 Investors should watch for subsequent announcements regarding the specific purpose of this increase, such as a potential rights issue, bonus issue, or private placement. No immediate action is required until the company clarifies how it intends to utilize the additional capital headroom.

Viji Finance Announces Cessation of Two Directors Due to Lack of Shareholder Approval

🔵 WATCH ⭐ 6/10

MANAGEMENT 📅 08 Dec 2025, 06:49 PM

Viji Finance Limited has announced the cessation of CA Anchit Garg (Independent Director) and Mr. Nikhilkumar Ramaniklal Sanghvi (Non-Executive Director) effective December 8, 2025. The exits were triggered by the company's failure to obtain shareholder approval within the mandatory timeline prescribed under SEBI Regulation 17(1C). This regulation requires shareholder confirmation for director appointments at the next general meeting or within three months, whichever is earlier. The company confirmed there are no other material reasons for these departures beyond the regulatory non-compliance.

Cessation of CA Anchit Garg (Independent Director) and Mr. Nikhilkumar Ramaniklal Sanghvi (Non-Executive Director) effective Dec 8, 2025.
The removal is due to non-receipt of shareholder approval within the stipulated timeline under SEBI Regulation 17(1C).
Company states no other material reasons exist for the cessation of these directors.
The board meeting regarding these disclosures concluded at 5:30 p.m. on December 8, 2025.

💡 Investors should monitor the company's upcoming board appointments to ensure it maintains the required number of independent directors. The failure to secure shareholder approval may suggest either a procedural lapse by management or a lack of support from institutional/large shareholders.

Viji Finance Announces Resignation of Whole-Time Director Nitesh Gupta Effective Dec 8, 2025

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 08 Dec 2025, 06:43 PM

Viji Finance Limited has announced the resignation of Mr. Nitesh Gupta from his role as Whole-Time Director and Key Managerial Personnel (KMP) effective December 8, 2025. The resignation is attributed to Mr. Gupta's desire to focus on his personal business endeavors, as he is unable to devote sufficient time to the company's affairs. The company has confirmed that there are no other material reasons for his departure. The Board of Directors met on the same day to take the resignation on record.

Mr. Nitesh Gupta resigned as Whole-Time Director and KMP effective close of business hours on December 8, 2025.
The stated reason for resignation is to focus on personal business endeavors and time constraints.
The director provided a formal confirmation that no other material reasons exist for the resignation.
The Board meeting regarding this disclosure concluded at 5:30 PM on December 8, 2025.

💡 Investors should monitor the company for any upcoming announcements regarding a successor to the Whole-Time Director position to ensure leadership continuity. No immediate portfolio action is required as the exit appears to be for personal reasons.

VIJIFIN appoints Ashish Verma as Non-Executive Director

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 08 Dec 2025, 06:37 PM

Viji Finance Limited has appointed Mr. Ashish Verma as a Non-Executive Non-Independent Director, effective December 08, 2025. Mr. Verma's Director Identification Number (DIN) is 07665222. He has 38 years of experience in Education and Administration. The appointment is subject to the approval of shareholders at the upcoming 31st Annual General Meeting.

Mr. Ashish Verma appointed as Non-Executive Non-Independent Director w.e.f. December 08, 2025.
Mr. Ashish Verma's Director Identification Number (DIN) is 07665222.
Mr. Ashish Verma has 38 years of experience in Education and Administration.
Mr. Ashish Verma's date of birth is 13/11/1967, making him 58 years old.

💡 Investors should monitor the voting outcome at the 31st Annual General Meeting regarding the approval of Mr. Verma's appointment. Review Mr. Verma's background and experience to assess potential impact on the company.

Viji Finance to Increase Authorized Capital to ₹30 Cr; Major Board Reshuffle Announced

🔵 WATCH ⭐ 7/10

BOARD_MEETING 📅 08 Dec 2025, 06:19 PM

Viji Finance has approved a significant increase in its authorized share capital from ₹18.00 crore to ₹30.00 crore, indicating potential future equity expansion. The company is undergoing a major management overhaul, including the resignation of Whole-Time Director Mr. Nitesh Gupta and the cessation of two other directors due to lack of timely shareholder approval. Mr. Ashish Verma has been appointed as an Additional Director to stabilize the board. Shareholders will vote on these changes at the upcoming 31st Annual General Meeting scheduled for December 31, 2025.

Authorized Share Capital increased by 66.6% from ₹18.00 Crore to ₹30.00 Crore.
Resignation of Mr. Nitesh Gupta as Whole-Time Director and Key Managerial Personnel.
Cessation of CA Anchit Garg and Mr. Nikhilkumar Sanghvi as directors due to non-receipt of shareholder approval under SEBI Regulation 17(1C).
Appointment of Mr. Ashish Verma as Additional Director and reconstitution of Audit and NRC committees.
31st Annual General Meeting (AGM) convened for December 31, 2025, via video conferencing.

💡 Investors should exercise caution and monitor the 31st AGM for clarity on the company's future fundraising plans and the reasons behind the failure to secure shareholder approval for previous director appointments. The high management turnover is a governance signal that requires close observation.

VIJIFIN to hold 31st Annual General Meeting on December 31, 2025

🟡 NEUTRAL ⭐ 5/10

BOARD_MEETING 📅 08 Dec 2025, 04:47 PM

Viji Finance Limited is convening its 31st Annual General Meeting (AGM) on December 31, 2025, via video conference. Shareholders will consider the audited financial statements for the year ended March 31, 2025. They will also vote on the appointment of Ramesh Chandra Bagdi & Associates as Secretarial Auditor for a 5-year term. Approval is sought for related party transactions with Mr. Vijay Kothari, Chairman and Managing Director, up to ₹25 Crores for FY 2025-26.

31st Annual General Meeting to be held on December 31, 2025
Approval sought for related party transactions up to ₹25 Crores with Mr. Vijay Kothari
Appointment of Secretarial Auditors for a 5-year term commencing from financial year 2025-2026
Authorization to borrow money up to ₹500 Crores
Authority to create charge on properties for loans up to ₹500 crores

💡 Shareholders should review the AGM notice and financial statements to make informed decisions on the resolutions. Pay close attention to the related party transaction details with Mr. Vijay Kothari.

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💰 Financial Performance

Revenue Growth by Segment

The company operates 100% in the Finance Services segment. Historical total income grew 43.75% from INR 1.6 Cr in 2017 to INR 2.3 Cr in 2018. For FY 2024-25, operating profit increased due to higher revenue, though exact segment revenue figures were not disclosed.

Geographic Revenue Split

Primarily concentrated in Indore, Madhya Pradesh, which represents the core regional market for its corporate lending operations.

Profitability Margins

Operating profit margin was 23.30% in FY 2024-25. Net profit margin stood at 5.76% for the same period, showing an increase in net profit compared to the previous year.

EBITDA Margin

Operating profit margin of 23.30% reflects core profitability before interest and taxes, showing improvement due to higher revenue and better liability management.

Capital Expenditure

Not disclosed in available documents as the company is a financial services provider with low physical asset requirements.

Credit Rating & Borrowing

CRISIL assigned a 'CRISIL B+/Stable' rating to INR 5 Cr bank debt in June 2018, which was subsequently withdrawn in August 2018 at the company's request. Borrowing costs are influenced by the debt-equity ratio of 0.59.

⚙️ Operational Drivers

Raw Materials

Capital and debt funds represent 100% of the 'raw material' for lending operations.

Import Sources

Domestic sourcing from Indian banks and financial institutions.

Key Suppliers

Banks and financial institutions providing credit lines and shareholders providing equity through rights issues.

Capacity Expansion

Not applicable for financial services; however, authorized share capital was increased from INR 18.00 Cr to support larger loan disbursements.

Raw Material Costs

Cost of funds is the primary expense. Interest coverage ratio improved from 1.02 in FY 2023-24 to 1.47 in FY 2024-25, indicating better management of interest costs relative to profits.

📈 Strategic Growth

Growth Strategy

Growth will be achieved through expanding geographic presence into new regions, digitalization to enhance customer experience, and product diversification to meet evolving needs. A significant rights issue in FY 2024-25 increased shareholder equity to fund this expansion.

Products & Services

Working capital requirement loans and unsecured corporate loans.

Brand Portfolio

Viji Finance

New Products/Services

Introduction of new financial products and services is planned to cater to evolving customer needs, though specific revenue contributions are not disclosed.

Market Expansion

Entering new geographic markets and regions to increase reach beyond the current Indore base.

Market Share & Ranking

Small-scale NBFC with regional concentration in Madhya Pradesh.

🌍 External Factors

Industry Trends

The NBFC sector is facing increased regulatory vigil from the RBI, focusing on contagion risk and scale-based regulations. NBFCs are adopting bank-like practices in governance and risk management to ensure stability.

Competitive Landscape

Competes with other regional NBFCs, fintech lenders, and banks providing corporate working capital.

Competitive Moat

Moat is based on promoter familiarity with borrowers and moderate capitalization. This is sustainable for niche corporate lending but faces challenges from fintech disruption.

Macro Economic Sensitivity

Highly sensitive to interest rate cycles and RBI monetary policy changes.

Consumer Behavior

Increasing demand for customized financial assistance among corporates and individuals.

Geopolitical Risks

Low direct impact as operations are domestic and regional.

⚖️ Regulatory & Governance

Industry Regulations

Subject to RBI scale-based regulations, liquidity ratio maintenance, and asset-liability management (ALM) practices. RBI has recently intensified scrutiny to address governance and risk management issues.

Legal Contingencies

The Board reviews major litigation and legal developments; however, specific pending case values in INR were not disclosed in the provided documents.

⚠️ Risk Analysis

Key Uncertainties

Credit risk from loan defaults and regulatory changes by the RBI are the primary uncertainties, with potential impact on margins and capital adequacy.