Financials Results ended 31.03.2025 of FYNX Capital Limited
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Fynx Capital Ltd (formerly Rajath Finance Ltd), a small NBFC, reported audited results for Q4 and FY ended 31 March 2025. Total income from operations jumped sharply to ₹251.10 lakhs (FY24: ₹23.10 lakhs), but the company slipped deeper into losses with a net loss of ₹191.11 lakhs for the full year versus a loss of ₹25.12 lakhs in FY24. Total assets ballooned to ₹1,970 lakhs from ₹655 lakhs, driven by a ₹16 crore Rights Issue (equity capital rose from ₹4 crore to ₹20 crore), with cash and equivalents of ₹1,604 lakhs sitting unutilised as of year-end. The statutory auditor (N.C. Vaishnav & Co.) issued an unmodified opinion. Alongside results, the board accepted the resignation of Managing Director Gautam Kirtikumar Shah effective 30 May 2025 and CFO Urvashi Parmer, while appointing Preeti Mhatre as new CFO, PHD & Associates as Secretarial Auditor (5-year term), and Anil Bhutra & Co as Internal Auditor for FY26.
Sharp rise in revenue is offset by widening losses and heavy management churn at the top (MD and CFO both exiting within days), which may worry shareholders. On the positive side, the ₹16 crore Rights Issue has strengthened the balance sheet, giving the NBFC firepower to scale lending operations. Stock price reaction will likely hinge on whether new leadership can convert the capital raise into profitable growth.