Audited financial Results of the company for the quarter and financial year ended March 31,2025.
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The Board of Directors of Dhruva Capital Services Limited, a small Udaipur-based NBFC, approved its audited financial results for Q4 and FY ended March 31, 2025 on May 16, 2025. Statutory auditor M/s L K Saraf & Co issued an unmodified (clean) opinion on the financial statements. Total revenue from operations dropped sharply from around Rs. 551.71 lakh in FY24 to about Rs. 212.88 lakh in FY25, while the loan book expanded from roughly Rs. 695 lakh to Rs. 1,936 lakh. Cash flow from operating activities remained deeply negative at about Rs. (813.57) lakh in FY25, worse than Rs. (666.17) lakh in FY24. Separately, CFO Mr. Amit Rathi resigned on May 16, 2025 citing inability to devote time, and the company disclosed a Rs. 2.02 crore loan given in March 2025 against the borrower's annual income of only Rs. 54.26 lakh, which is a credit-quality red flag. No dividend was proposed.
Sharp revenue contraction and a second consecutive year of negative operating cash flow are worrying for shareholders, as the company is lending more while generating less income and burning cash. The CFO exit on results day and the disclosed large loan against a low-income borrower add governance and asset-quality concerns that could weigh on the stock.