The Exchange had sought clarification from Fusion Finance Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Financial results submitted is not as per format prescribed by SEBI The response of the Company is enclosed.
FUSION · price
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Fusion Finance has re-submitted its Statement of Impact of Audit Qualifications for the financial year ended March 31, 2025, after the NSE flagged a formatting deficiency in the earlier submission. The company reported a large net loss of Rs 1,224.54 crore on total income of Rs 2,368.89 crore, with a negative basic EPS of Rs 111.41. The statutory auditor (Deloitte Haskins & Sells) issued a qualified opinion, flagging that the company did not assess whether Rs 1,224+ crore in expected credit loss allowances booked in FY25 should have been retrospectively adjusted to earlier years, citing impracticability under Ind AS 8. This is the first time the qualification appears in the annual report, though similar modifications were made in the Q2 and Q3 FY25 results. The auditor was unable to comment on the company's basis for claiming impracticability, and the impact remains unquantified.
This is a significant negative development: a Rs 1,224+ crore loss, a qualified audit opinion, and ongoing concerns about credit loss provisioning in the microfinance book raise red flags for shareholders. The unquantified retrospective adjustment risk means actual losses could be even higher, and stock price may face pressure due to governance and asset quality concerns.