Future Market Networks Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
FMNL · price
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Future Market Networks (FMNL) submitted its unaudited standalone and consolidated results for Q1 FY26 (quarter ended June 30, 2025). Standalone total income was nearly flat at Rs. 2,319.62 lakhs vs Rs. 2,331.07 lakhs YoY, but operating profit before exceptional items collapsed to Rs. 93.10 lakhs from Rs. 743.04 lakhs, hit by a 46% jump in finance costs and a sharp rise in depreciation. The company booked an exceptional loss of Rs. 1,900 lakhs from writing off capital advances deemed irrecoverable, dragging standalone net profit down to Rs. 120.59 lakhs (vs Rs. 8,234.43 lakhs in Q1 FY25, which had large one-time property gains). The board recommended appointing M/s. Bakliwal & Co. as new statutory auditors after S.K. Patodia & Associates LLP's term ended, adopted the FMNL Employees Stock Option Scheme 2025, and fixed the 17th AGM for September 25, 2025. The auditor flagged an Emphasis of Matter on massive contingent liabilities tied to corporate guarantees given for related-party loans (Yes Bank/JC Flower demand of Rs. 18,448.96 lakhs, RBL Bank exposure of Rs. 13,241.96 lakhs, plus arbitration disputes).
Core profitability has weakened meaningfully even before one-time items, and the company continues to face very large contingent liabilities from guarantees extended for related-party borrowers, which remain a key risk overhang. The auditor change is a routine end-of-term rotation, while the proposed ESOP scheme may dilute existing shareholders if approved at the AGM.