Audited Financial Results alongwith Segment, Independent Auditors Report for the Quarter and year ended 31st March 2025
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Dharani Finance Limited, a Chennai-based NBFC, announced its audited results for FY25 at a board meeting on May 28, 2025. Total income from operations rose sharply to Rs. 142.43 lakhs from Rs. 79.24 lakhs in FY24, while the company swung to a profit after tax of Rs. 84.54 lakhs compared to a loss of Rs. 30.40 lakhs in the previous year. EPS turned positive at Rs. 1.68 versus a loss of Rs. 0.61 earlier. However, the statutory auditors issued a qualified opinion, flagging that an unrecovered inter-corporate deposit of Rs. 200 lakhs to Aryav Exports (given in 2017 with no interest received) could push the company's net owned funds below RBI's minimum threshold for NBFCs under Section 45-IA. The auditors also explicitly noted a material uncertainty on the company's ability to continue as a going concern, dependent on capital infusion and recovery of dues. The board also disclosed related party transactions, including ICDs of Rs. 3.05 crore to Appu Hotels and Rs. 1.91 crore to Dharani Developers, plus rent paid to the Chairman's premises.
The going-concern qualification and unresolved ICD to Aryav Exports are red flags — shareholders should track whether the company recovers the Rs. 200 lakh plus outstanding Rs. 305 lakh from the NCLT-resolution customer on time and whether it raises fresh capital to meet NBFC net owned fund norms. The strong profit turnaround is encouraging but contingent on these recoveries materialising.