Outcome of Board Meeting.
Price
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Som Datt Finance Corporation Limited's board approved audited FY25 (ended March 31, 2025) results showing a net loss of ₹542.24 lakhs, a sharp reversal from a profit of ₹1,209.13 lakhs in FY24. Total revenue from operations was negative ₹372.71 lakhs, driven by a ₹491.88 lakhs unrealised mark-to-market loss on equity investments, partly offset by a ₹158.09 lakhs realised gain on sale of certain equity holdings. Total expenses stood at ₹279.68 lakhs, and operating cash flow was negative at ₹172.35 lakhs. The board approved a Rights Issue of about ₹49 Crores (70,05,579 equity shares at ₹70 each) in a 7:10 ratio, with record date June 6, 2025. Other approvals included increasing authorised share capital from ₹25 Cr to ₹50 Cr, enhancing borrowing limits up to ₹500 Crores, omnibus related party transactions for FY26, appointment of internal and secretarial auditors, reappointment of an independent director, and a new senior management personnel. The statutory auditor issued an unqualified (clean) opinion on the financial results.
Shareholders face a significant swing to losses and likely equity dilution from the upcoming ~₹49 Cr Rights Issue (post-issue shares will rise to ~1.70 Cr from ~1.00 Cr currently). The capital raise and expanded borrowing capacity may support future business growth, but near-term sentiment could be weighed down by the FY25 loss driven by equity investment write-downs.