Integrated Financials
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Fynx Capital Ltd (formerly Rajath Finance Limited) submitted its audited standalone financial results for FY25. Total income from operations jumped sharply to ₹247.81 lakhs from just ₹9.37 lakhs in FY24, driven by NBFC activity. However, the company swung to a net loss of ₹249.11 lakhs versus a profit of ₹25.12 lakhs last year, with total expenses rising to ₹264.95 lakhs. The company raised ₹1,600 lakhs via a Rights Issue on March 25, 2025, which boosted equity share capital to ₹2,000 lakhs and cash balances to ₹1,602.07 lakhs. Borrowings were reduced to zero. Other equity turned negative at ₹(82.75) lakhs and operating cash flow was negative at ₹(273.22) lakhs. The statutory auditor (N.C. Vaishnav & Co.) issued an unqualified (clean) opinion with no modified views.
Sharp revenue growth is positive, but rising losses, negative operating cash flow, and eroded other equity are red flags. The fresh ₹16 crore Rights Issue strengthens the capital base and liquidity, which is supportive for future NBFC lending, but profitability remains the key concern for shareholders.