Financial results for the quarter and nine months ended 31st December 2025
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Awaiting price reaction for this filing.
Dharani Finance reported Q3 FY26 revenue from operations of Rs. 36.52 lakhs, down from Rs. 42.99 lakhs in Q3 FY25. For the nine months ended December 2025, revenue fell sharply to Rs. 105.55 lakhs from Rs. 142.43 lakhs, a decline of about 26% year-on-year. Profit after tax for the quarter was Rs. 23.03 lakhs (flat YoY), while 9M PAT rose to Rs. 72.03 lakhs from Rs. 64.90 lakhs. The statutory auditor (Srivatsan & Associates) issued a qualified opinion, flagging that the company has not received any interest on a Rs. 200 lakh inter-corporate deposit given to Aryov Exports Private Limited in July 2017. The auditor warned that if a provision is made for this outstanding, the company would fall below RBI's minimum net owned funds threshold for NBFCs under Section 45-IA, raising doubts about its ability to continue as a going concern without fresh capital infusion. The board also approved updated insider trading, materiality and archival policies at the February 11, 2026 meeting.
Negative for shareholders: the qualified audit opinion combined with an explicit going-concern warning on NBFC capital adequacy is a serious red flag. Revenue is contracting sharply and the company's NBFC licence status depends on a future capital raise, creating meaningful uncertainty around future earnings and stock price.