Financial results for the quarter ended March 31, 2025.
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Awaiting price reaction for this filing.
CMX Holdings Limited (formerly SIEL Financial Services) reported a net loss of Rs. 2,522.49 thousand for FY25, against a loss of Rs. 1,764.80 thousand in FY24. Total income fell sharply from Rs. 3,810.43 thousand to Rs. 2,031.03 thousand (about 47% decline). Accumulated losses now stand at Rs. 1,70,063.22 thousand, completely wiping out the company's net worth (negative equity of Rs. 56,833.33 thousand). The auditor (S.K. Mehta & Co.) issued a Qualified Opinion, flagging that the company is barred by RBI from carrying non-banking financial business, has unconfirmed unsecured borrowings of Rs. 36,587.61 thousand, and has been reporting negative operating cash flows for several years. Current liabilities exceed current assets by Rs. 21,095.71 thousand.
This is a deeply distressed filing. Shareholders face a company with fully eroded net worth, ongoing losses, negative operating cash flows, and a qualified audit opinion citing material uncertainty over the going concern assumption. Stock price likely to remain under pressure and the company is at risk if management cannot secure fresh financing or restart profitable operations.