Revised outcome.
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Awaiting price reaction for this filing.
Dhruva Capital Services has resubmitted the audited financial results for Q4 and FY ended March 31, 2025, along with a revised audit report from L.K. Saraf & Co. The auditor issued a clean (unqualified) opinion, stating the results give a true and fair view. Total revenue from operations for FY25 was about Rs. 214.81 lakh versus Rs. 551.71 lakh in FY24 — a sharp drop of roughly 61%. FY25 profit after tax was around Rs. 26.67 lakh versus Rs. 425.67 lakh last year (FY24 included a one-time gain of about Rs. 443 lakh on sale of quoted shares). The company's loan book grew dramatically from Rs. 695.17 lakh to Rs. 1,936.05 lakh, while investments fell to zero. Operating cash flow was sharply negative at about Rs. -813.57 lakh. A note in the filing also flags that a Rs. 2.02 crore loan was given in March 2025 to an individual (Gitika Goswami) whose stated annual income is only Rs. 54.26 lakh, including rental income from a property she does not own.
The clean auditor opinion is reassuring, but the falling revenue, collapsing profit, ballooning loan book, deeply negative operating cash flow, and the disclosed loan to a party with limited repayment capacity are red flags for shareholders. The revision itself appears procedural, but the underlying FY25 performance has weakened materially versus FY24.