- Business
- Polytex India Limited operates as a non-banking financial company (NBFC) registered with the Reserve Bank of India, primarily engaged in investments and trading in shares and securities; provision of short-term loans and advances; and related lending activities in India. Incorporated in 1987 and headquartered in Mumbai, Maharashtra, the company lists its equity shares on the Bombay Stock Exchange (BSE) under the ticker POLYTEX.BO, with shares admitted to both Central Depository Services Limited and National Securities Depository Limited. It targets retail and institutional investors in the diversified financials sector, focusing on consumer finance segments with operations confined to India.
The company's core offerings encompass portfolio investments in equities and other securities; active trading of shares; short-term unsecured and secured loans; and advances to individuals and businesses requiring flexible, speedy disbursement where risks exceed typical returns, such as in working capital or personal financing niches historically served by NBFCs. Polytex India maintains a niche in higher-risk, smaller-ticket lending amid competition from banks, emphasizing recovery-focused operations without reliance on public deposits following RBI's phased restrictions.
In recent developments, the Reserve Bank of India cancelled the company's NBFC certificate of registration under section 45-IA(6) of the RBI Act, 1934, prohibiting further non-banking financial business activities. The company continues to hold board meetings for financial results approvals, including the audited results for the year ended March 31, 2025 on May 26, 2025; unaudited quarterly results for periods ending December 2024, September 2024, and June 2024; and scheduled a meeting for November 14, 2025, for the quarter ended September 30, 2025. Management changes include the resignation of the prior company secretary in April 2024 and appointment of Anju Surajsingh Chauhan (formerly Anju Premshankar Pandey) as company secretary and compliance officer, alongside routine annual secretarial compliance filings and the 39th Annual General Meeting on September 30, 2025. No major acquisitions, funding rounds, partnerships, or product launches occurred in 2024-2025, with financial performance showing modest net profits in some quarters like Rs 0.03 crore for Q3 FY2025 alongside losses such as Rs 0.05 crore in Q2 FY2026.