Ganges Securities Limited has informed the Exchange regarding Board meeting held on August 13, 2025.
GANGESSECU · price
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Awaiting price reaction for this filing.
The Board of Ganges Securities approved the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2025, with a clean limited review report from auditor JKVS & Co. On a standalone basis, Revenue from Operations fell to Rs 55.72 lakhs (from Rs 76.59 lakhs in Q1 FY25), and Net Profit dropped sharply to Rs 12.89 lakhs (from Rs 33.66 lakhs), translating to an EPS of Rs 0.13 versus Rs 0.34. On a consolidated basis, which includes the wholly-owned tea subsidiary Cinnatolliah Tea Limited, total income was Rs 695.20 lakhs and Net Profit was Rs 103.18 lakhs (Rs 1.03 EPS), broadly stable versus the prior year quarter. The filing also disclosed that during FY25, the subsidiary identified a fund misappropriation by its former CFO (fictitious invoices, vendor kickbacks between April 2022 and November 2024), for which an FIR was filed and Rs 101.86 lakhs was booked as an exceptional item. Consequently, Q1 FY25 figures have been restated under Ind AS 8 to reflect the impact of the fraud.
Standalone earnings show a meaningful YoY decline, but the consolidated picture is steady. The disclosed fraud at the tea subsidiary is a negative governance signal, though it appears identified, quantified, and already provided for, reducing the risk of further surprises. Shareholders should watch for any follow-up disclosures on recoveries from the former CFO.