Dear Sirs, We wish to inform that the Board of Directors of the Company, at its meeting held today has approved and noted following agendas. 1) Un-Audited Financial Results for ....
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The Board of Directors of Avasara Finance Ltd (formerly TRC Financial Services Ltd) met on 30th July 2025 and approved two key items. First, the unaudited financial results for Q1 FY26 (quarter ended 30th June 2025) showed zero revenue from operations against a loss of Rs. 18.79 lakhs, slightly wider than the Rs. 17.56 lakh loss in the same quarter last year. Total expenses stood at Rs. 18.79 lakhs with EPS of (0.38). Accumulated losses have swelled to Rs. 317.94 lakhs against paid-up capital of Rs. 500.09 lakhs, causing significant erosion of net worth, though the company maintains a going concern basis. Second, the Board appointed Mr. Vinu Mammen (DIN: 10710860) as Additional Non Executive Director and Whole-Time Director (KMP) for a five-year term effective 30th July 2025. Mr. Mammen brings over 27 years of experience in wealth management, having established wealth practices at top banks, with strong background in fund raising and asset monetisation.
Shareholders should note the company has reported zero revenue and continued losses, with its net worth significantly eroded by accumulated losses of Rs. 317.94 lakhs. The appointment of a senior wealth management professional as WTD/KMP signals an intent to revive operations and explore new revenue streams, but execution risks remain high given the weak financial position.