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Bazel International Ltd, a Delhi-based NBFC, reported its audited standalone and consolidated results for the quarter and financial year ended 31 March 2025. On a standalone basis, total income fell sharply to Rs. 407.24 lakhs in FY25 from Rs. 1,781.60 lakhs in FY24, mainly because last year had a one-time sale of services of about Rs. 1,539 lakhs. Despite weaker revenue, net profit jumped nearly fourfold to Rs. 144.55 lakhs (vs Rs. 35.55 lakhs in FY24), and EPS for the full year rose to Rs. 7.59 from Rs. 1.87. Consolidated net profit also more than doubled to around Rs. 76 lakhs. The statutory auditor issued an unmodified (clean) opinion on the results. However, operating cash flow was deeply negative at Rs. (812.64) lakhs standalone and Rs. (945.98) lakhs consolidated. The board also appointed Mr. Vivek Singh as internal auditor and re-appointed Meenu G & Associates as secretarial auditor for five years.
Profitability improved strongly thanks to lower costs and a one-time bad-debt write-back, but the steep revenue fall and large negative operating cash flow raise questions about the quality of core earnings. Shareholders should weigh the sharp PAT growth against weak cash generation before drawing conclusions on business momentum.