Dear Sirs, Pursuant to the provisions of Regulation 30 (read with Part A of Schedule III) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), ....
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BYLD Capital Finance Limited (formerly Avasara Finance Limited) reported audited standalone results for FY 2025-26 with total revenue of Rs. 565 lakhs. The company posted a net loss of Rs. 220.61 lakhs for the year, significantly worse than the previous year's loss of Rs. 44.61 lakhs. Accumulated losses stand at Rs. 519.77 lakhs, indicating substantial erosion of net worth. The company completed a Rights Issue of 1,00,01,800 equity shares at Rs. 210 per share, raising Rs. 1,000.18 lakhs, increasing paid-up capital from Rs. 500.09 lakhs to Rs. 1,500.27 lakhs. The Board also appointed new Secretarial and Internal Auditors. The statutory auditor issued an unmodified (clean) opinion but included an emphasis of matter regarding going concern due to accumulated losses.
Despite raising capital via rights issue, the company continues to burn cash with negative operating cash flow of Rs. 145.34 lakhs and mounting losses. The significant erosion of net worth and accumulated losses raise going concern doubts despite management's optimism about future performance.