Audited financial results of the company for the quarter and financial year ended March 31,2025.
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Dhruva Capital Services Ltd, a Udaipur-based NBFC, announced its audited financial results for Q4 and FY ended March 31, 2025, approved at the board meeting on May 16, 2025. Statutory auditors M/s. L K Saraf & Company issued an unmodified opinion on the standalone results. Revenue from operations for FY25 came in at around Rs. 437 lakhs, more than doubling from Rs. 213 lakhs in FY24. Profit after tax stood at roughly Rs. 85 lakhs, down from about Rs. 126 lakhs in the previous year. The company reported deeply negative operating cash flow of approximately Rs. -814 lakhs for FY25, even as it raised around Rs. 625 lakhs through financing activities. Separately, Mr. Amit Rathi resigned as CFO effective May 16, 2025, citing inability to devote time to board affairs. The notes also flag a Rs. 2.02 crore loan given in March 2025 to an individual whose declared annual income of Rs. 54.26 lakhs includes rental income from a property she does not own.
Strong revenue growth is undermined by falling profits and a steep operating cash burn, indicating the company is funding its expansion through fresh borrowings rather than internal earnings. The CFO exit and an unusually large personal loan to an individual with limited means are points shareholders should track closely for governance and asset quality concerns.