Board of Directors of Harmony Capital Services Limited at their meeting held on Tuesday, 13th May, 2025, at the registered office of the Company situated at Office No. A-405, 4th Floor, ....
Awaiting price reaction for this filing.
Harmony Capital Services Limited reported audited financial results for FY25 showing a sharp deterioration in performance. The company posted no revenue from operations and recorded a loss after tax of Rs. 60.47 lakh for FY25, widening from a loss of Rs. 6.73 lakh in FY24. Total expenses surged to Rs. 60.47 lakh (vs Rs. 9.85 lakh last year), driven by a steep rise in other expenses. Other equity turned deeply negative at Rs. (226.42) lakh, and operating cash flow swung to an outflow of Rs. 41.30 lakh from a positive Rs. 67.19 lakh last year. Cash and equivalents fell sharply from Rs. 48.56 lakh to Rs. 7.26 lakh. The statutory auditor (Kapish Jain & Associates) issued an unmodified opinion.
Sharply wider losses, negative net worth, depleted cash reserves, and negative operating cash flow signal serious financial stress for shareholders. The stock is likely to remain under pressure given the absence of operating revenue and continued dependence on other income.