Fusion Finance Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
FUSION · price
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Fusion Finance Limited (formerly Fusion Micro Finance Limited) reported a pre-tax loss of ₹62.93 crore for FY26, turned positive PAT of ₹101.63 crore largely due to a deferred tax credit of ₹164.56 crore. Total income declined to ₹1,698.53 crore (interest income) from approximately ₹2,368.89 crore in FY25, indicating significant revenue contraction. The company issued 10 lakh equity shares to its employee benefit trust under ESOP 2023 and completed a rights issue of ₹799.86 crore last year. The predecessor auditor (Deloitte) had issued a qualified opinion on FY25 financial statements regarding ECL allowance evaluation — this is referenced as an Other Matter in the current auditor's report, though the current auditor (B.K. Khare & Co.) issued an unmodified opinion. The company also disclosed breaches of financial covenants on borrowings of ₹101.64 crore, with extensions obtained from some lenders covering ₹37.95 crore. Mr. Sanjay Garyali is seeking re-appointment as Managing Director & CEO at the ensuing AGM.
The positive PAT is artificial, driven by deferred tax credit — not underlying operational improvement. Revenue decline, covenant breaches, and the predecessor auditor's qualified opinion on comparative figures are material concerns for investors, especially given the NBFC sector's credit quality pressures.