Please find attached herewith the Outcome of Board Meeting of Ashika Credit Capital Limited, held today, i.e. Saturday, 10th May, 2025.
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The Board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with an unmodified (clean) auditor opinion from DHC & Co. The company swung to a major loss, posting a standalone loss after tax of Rs 5,142.24 lakhs in FY25 versus a profit of Rs 1,070.38 lakhs in FY24, driven largely by a Rs 5,041.87 lakh net loss on fair value changes and sharply higher expenses. Total revenue from operations fell about 67% to Rs 424.04 lakhs from Rs 1,276.14 lakhs, while operating cash flows were deeply negative. The Board did not recommend any dividend for FY25. It also approved exploring the acquisition of a stock broking company, appointed MR & Associates as Secretarial Auditors for a 5-year term (FY26–FY30), re-appointed Mr. Ajay Pratapray Shanghavi as Independent Director for a second 3-year term from September 1, 2025, and amended its materiality disclosure policy.
Shareholders face a disappointing year with a swing to sizeable losses, no dividend, and sharply weaker top-line, which is likely to weigh on the stock price. On the positive side, the planned acquisition of a stock broking company could diversify revenues if executed, and governance updates (new secretarial auditor, director re-appointment) are routine.