Financial Results for quarter ended june 2025 of FYNX Capital Limited
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Fynx Capital Limited (formerly Rajath Finance Limited), an NBFC, reported standalone unaudited results for Q1 FY26 (quarter ended June 30, 2025). Total income from operations jumped to Rs. 48.68 lakhs from Rs. 3.43 lakhs in the same quarter last year, though from a very small base. Net loss narrowed to Rs. 56.65 lakhs (vs Rs. 68.98 lakhs YoY), with EPS of Rs. (0.28). The balance sheet shows negative accumulated losses in Other Equity at Rs. (139.39) lakhs, and cash crashed from Rs. 1,604.07 lakhs to just Rs. 14.68 lakhs, with operating cash outflow of Rs. 1,585.26 lakhs for the quarter. Statutory auditor N.C. Vaishnav & Co. issued an unmodified limited review report, noting the prior period comparatives were audited by a predecessor auditor, indicating an auditor change. About Rs. 994.95 lakhs of the March 2025 rights issue proceeds remain unutilized and parked in mutual funds.
Despite the sharp revenue jump from a tiny base, the company continues to post losses and burned through significant cash this quarter, with negative other equity highlighting accumulation of past losses. The recent Rs. 1,600 lakh rights issue (still largely unutilized) provides a temporary cushion, but shareholders should note persistent unprofitability and the change in statutory auditor.