Unaudited financial results for the quarter and half year ended 30th September 2025

Qualified audit opinionGoing-concern doubtResults View source PDF Explain this filing

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On the reaction day the stock moved 4.9 pts less than Nifty Microcap 250 and 4.9 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Dharani Finance Ltd submitted its unaudited standalone results for the quarter and half year ended September 30, 2025. For Q2 FY26, total income stood at Rs. 77.23 lakhs and profit after tax was Rs. 26.43 lakhs, compared to Rs. 10.81 lakhs in Q2 FY25. For H1 FY26, PAT swung to Rs. 45.22 lakhs from a loss of Rs. 30.40 lakhs in H1 FY25. However, the statutory auditor issued a qualified opinion on the results, flagging that a Rs. 200 lakh inter-corporate deposit given to M/s. Aryov Exports Pvt Ltd in July 2017 has not received any interest and remains unrecovered. The auditor warned that if a provision were made for this receivable, the company's net owned funds would fall below the minimum required under Section 45-IA of the RBI Act for an NBFC. The company's ability to continue as a going concern may depend on fresh capital infusion or alternative business plans within the RBI-prescribed timeline.

Likely market impact

Despite a sharp rebound in profits, the qualified audit opinion and the explicit going-concern flag are serious red flags. Shareholders should note the risk to the company's NBFC license if the unrecovered Rs. 200 lakh is not resolved and capital is not infused, which could weigh negatively on the stock.