Financial Result for the quarter and year ended 31st March 2025
Price
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Ekam Leasing & Finance Co. Limited reported audited results for FY25 with a standalone net loss of INR 65.68 Lakhs (EPS -1.09) on total income of INR 12.45 Lakhs, and a consolidated net loss of INR 97.08 Lakhs (EPS -1.62) on total income of INR 40.46 Lakhs. The auditor (M.B. Gupta & Co.) issued a qualified opinion on both sets of results. Key concerns: (1) the company's Net Owned Fund is below the RBI's mandated minimum of INR 5 crore for NBFCs, which is a new qualification with potential regulatory implications for its NBFC status; (2) two subsidiaries (Jet Air Securities and Rex Overseas) need NBFC registration with RBI under section 45-IA — a repetitive qualification since FY 2021-22. The auditor also flagged emphasis-of-matter items on transactions with two struck-off companies (NKJ Securities and Alsan Buildcon). Management acknowledged the NOF shortfall and said it is working to enhance Net Owned Fund to INR 5 crore, and will file NBFC registration for subsidiaries in due course.
This is a negative filing for shareholders — the company posted losses both standalone and consolidated, and the qualified audit opinion with regulatory non-compliance (NOF shortfall, unregistered subsidiaries) raises serious concerns about its NBFC status and could attract RBI action. Investors should expect heightened regulatory and operational risk on this small-cap NBFC stock.